Press Release:

HP Showcases New IT Solutions for Inc. 500 Honorees

Innovative, Mobile Office Technologies Enhance Efficiency, Productivity for Growing Businesses
ALBUQUERQUE, N.M., June 20, 2002

Today HP (NYSE: HPQ) is showcasing innovative mobile and office technology solutions to CEOs of America's fastest growing private companies during the Inc. 500 20th anniversary conference. This year, the annual event recognizes companies achieving the highest growth in net sales between 1997 and 2001.

"We are proud to have HP join us as a corporate sponsor during the 20th anniversary of the Inc. 500 Conference and Awards Ceremony," said Lee Jones, publisher, Inc. magazine. "HP's commitment to this fast-growing market segment recognizes the energy and vitality of the people who are being honored at this event -- and the dynamic enthusiasm of the Inc. reader."

During the conference, HP is demonstrating award-winning products integrated into solutions for small- and medium-sized businesses. Demos include basic small office configurations showcasing the new Compaq Evo D510 Ultra-slim desktop PC with Microsoft® Office Productivity Software, Compaq Flat Panel Series TFT5030 monitor, HP Officejet d145 all-in-one printer, scanner and fax machine and HP Business Inkjet 2230 high-speed printer powered by a 96 MHz processor and 16 MB on-board to print up to 14 pages per minute in fast mode for color documents.

HP also is showcasing an executive boardroom layout highlighting the iPAQ MP4800 microportable projector featuring wide-ranging compatibility with any Microsoft Windows for Pocket PC-based client, including the iPAQ Pocket PC with video adapters, DVI and analog compatibility and HDTV-ready display modes that enable users to present from almost any source.

Addressing the growing need for mobile communications, Inc. 500 conferees can hop into a mock New York City taxi cab and use the iPAQ Pocket PC H3850 to view presentations and, with wireless cards configured to a wireless wide area network, passengers can access email and connect to the Internet.

Additional mobility demonstrations will use Evo Notebook N800 series featuring the latest mobile Intel® Pentium® 4 processor. An Evo N800c will be connected to a wireless LAN to demonstrate how users can work away from their desk and the Evo N800v will use a docking station and wireless LAN to demonstrate the ease of expandability and a wireless alternative to desktop solutions.

Conferees also will see how the iPAQ Pocket PC along with a barcode scanner expansion pack serves as a scanner to perform wireless inventory management tasks. And, HP demonstrators will use the HP Photosmart 612xi digital camera and HP Photosmart 100 photo printer to demonstrate a variety of innovative imaging and printing tasks.

Virtual Receptionist Front-desk Assistant

This year HP is partnering for the first time with Modern Business Technology (MBT), a Milwaukee-based solution provider, to showcase Virtual Receptionist -- a remote greeting solution that uses state-of-the-art HP equipment.

The standard configuration for Virtual Receptionist includes three Compaq Evo D500s series PCs with Intel Pentium IV 1.8 GHz processors, optional tower stands, two TFT5030 back office monitors, one TFT5015 touch screen monitor for the front kiosk, three Logitech QuickCam Pro3000s, Altiris RapiDeploy cloning and configuration software, MBT's Virtual Receptionist software, speakers, hub, patch cables, kiosk and an ultrasonic sensor.

The main and backup answering station can be set-up anywhere in the building or directly on a local area network and is compatible with Microsoft and Novell networks, although no networking solution is required.

The total package, including all software and 12 months of technical phone support, is available for estimated U.S. street pricing of about $14,000 through HP directly and will soon be available through HP authorized resellers.(1) According to Natalie Knudson, MBT president, Virtual Receptionist is about one-third the annual cost of salary and benefits for a live receptionist, whose talents can often be more productive away from the front desk.

"HP is able to harness its diverse technology strengths and partners to leverage economies of scale that expand the breadth of solutions and deliver aggressively priced services ideally suited to SMB customers," said Robyn West, vice president of marketing, HP Personal Systems Group. "HP is a single source from which growing businesses can get the full power of an IT department without the overhead."

This marks the 10th year that HP, through pre-merger Compaq, has sponsored the annual Inc. 500 conference. HP has powered many of America's fastest growing companies, including Parson Consulting (formerly Parson Group), the Inc. 500 fastest-growing company in 2000.

"Technology and technology partners are extremely important to the success of growing businesses," said Dan Weinfurter, president, Parson Consulting. "We rely on the new HP and solutions provider CDW to deliver complete and reliable solutions that help enterprises like ours continue to achieve sustained and profitable growth."

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 merger transaction involving Compaq Computer Corp. on May 3, 2002. The company would have had combined revenue on a pro forma basis giving effect to the Compaq transaction of approximately $81.1 billion in fiscal 2001 and operations in more than 160 countries. More information about HP is available at

(1) Actual prices may vary.

Microsoft and Windows are U.S. registered trademarks of Microsoft Corp. Intel and Pentium are U.S. registered trademarks of Intel Corp.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; 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, as amended on January 30, 2002, for the fiscal year ended October 31, 2001, HP's quarterly report on Form 10-Q for the quarter ended January 31, 2002 (as filed with the SEC on March 12, 2002) 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 and does not intend 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