Press Release:

HP and SchlumbergerSema Enhance Global Alliance with Consolidated Global Support and IT Solutions for Enterprise Customers

PALO ALTO, Calif., and HOUSTON, March 11, 2003

HP (NYSE:HPQ) and SchlumbergerSema, the IT business segment of global technology services company Schlumberger (NYSE:SLB), today announced an enhancement to their 2002 global alliance agreement.

The new consolidated service arrangement offers customers of both companies a single point of contact for support of distributed IT infrastructure including multi-vendor hardware platforms and jointly customized solutions for the oil and gas, energy, telecom, financial, public sector and transportation markets.

As part of this agreement, SchlumbergerSema contributes IT infrastructure solutions, including consulting, systems integration, information security and software products, smart card-based technology and managed services, and HP brings its complete portfolio of technologies as well as the customer support capabilities of HP Services.

Together the companies provide customers with reduced administrative costs and greater simplicity through a consistent, consolidated global service operation. Customers will be able to realize increased gains in operational efficiency with a single global contact for outsourced management of computer and related repairs.

New capabilities include universal ticketing systems for seamless resolution of users' computer-related repair issues; global support levels and service for worldwide companies regardless of devices being used; and the flexibility to provide customized solutions to customers working with other vendors.

"Working with companies such as SchlumbergerSema helps HP to remain the No. 1 customer support organization in the industry and to provide companies with competitive, across-the-board management of their IT service issues," said Nigel Ball, vice president and general manager, HP Enterprise Solution Partners. "Our respective customers in the global energy and utilities, financial, telecommunications and transportation industries will greatly benefit from this alliance."

"The global alliance agreement represents a vision common to both our companies," said Herbert Leung, vice president, Global Service Delivery, SchlumbergerSema. "SchlumbergerSema is a leading aggregator and IT solutions provider for global enterprises, and building on our respective technology and service strengths will allow us to rapidly design and develop innovative integrated solutions in response to customer needs."

About Schlumberger

Schlumberger is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services supplies technology services and solutions to the international petroleum industry. SchlumbergerSema aggregates IT consulting, systems integration, managed services and related products to the energy and utilities, telecommunications, finance, transport and public sector markets. Both business segments offer the Schlumberger DeXa Suite of Services to provide IP network connectivity, information security solutions, distributed computing support services and data center hosting services. In 2002, Schlumberger revenues were $13.5 billion. For more information visit

About HP

HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. HP completed its acquisition of Compaq Computer Corporation on May 3, 2002. More information about HP is available at

This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include employee management issues; the timely development, production and acceptance of services and their feature sets; the challenge of managing asset levels, including inventory; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's annual report on Form 10-K for the year ended October 31, 2002, as filed with the Securities and Exchange Commission on January 21, 2003, and subsequently filed reports. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP assumes no obligation to update these forward-looking statements.

About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at