Boeing, Compaq to Donate 29 Computers to the Elizabeth Learning Center.

Business Editors & High-Tech Writers

EL SEGUNDO, Calif.--(BUSINESS WIRE)--Dec. 7, 2001

The Satellite Systems unit of Boeing Space & Communications and Compaq Computer Corporation (NYSE:CPQ) are donating 29 new Compaq computer systems to the Elizabeth Learning Center in Cudahy, Calif.

Boeing arranged for the donation from Compaq as a part of its continuing support to the Elizabeth Learning Center's Information Technology Academy. The computers will be presented to the school on Friday, Dec. 7, 2001 at 11 a.m. in the school auditorium located at 4811 Elizabeth Street, Cudahy. Boeing Space & Communications is a unit of The Boeing Company (NYSE:BA).

"Twenty-nine new computers is a great way to start the New Year," said Randy Brinkley, president of Boeing Satellite Systems, in El Segundo. "Boeing firmly believes that the future of the country rests in the hands of its youth. They must have the tools, the education, and the guidance and support of industry to flourish. It is incumbent upon us in the private sector to do our part."

The Boeing El Segundo employees have supported the Information Technology Academy at the Elizabeth Learning Center for two years. Starting in January 1999, Boeing employees have continuously volunteered their time to the center by mentoring 11th and 12th grade students. During an eight-week-session, students meet for two hours each week with Boeing employees who share their insights into the one area that can't be simulated in a classroom: the professional workplace. The next mentoring session is slated to start in January 2002.

"The mentoring program has been invaluable to the success of our information technology students," said Linda Heckenberg, assistant principal at the Elizabeth Learning Center. "Students not only gain perspective about working in the real world, but the subject matter taught in our classrooms is also validated, and our teachers have repeatedly emphasized the importance of combining theoretical learning with practical exposure."

"Through our information technology mentorships, we have extended the walls of the traditional classroom at the Elizabeth Learning Center," said Radha Radhakrishnan, vice president and chief information officer at Boeing's El Segundo site. "Computers and information technology are such a mainstay in today's society. Students who do not have training and access are at a severe disadvantage. With companies cutting back and tightening belts, we laud Compaq for supporting this worthwhile and important activity at the Elizabeth Learning Center," he added.

"One of our goals at Compaq is to make technology in the classroom ubiquitous and accessible to everyone, at all times," said Leigh Morrison, regional vice president, Compaq.

Founded in 1982, Compaq Computer Corporation is a leading global provider of enterprise technology and solutions. Compaq designs, develops, manufactures and markets hardware, software, solutions, and services, including industry-leading enterprise computing solutions, fault-tolerant business-critical solutions, and communications products, commercial desktop and portable products, and consumer PCs.

Boeing Space & Communications is the world's leading manufacturer of commercial communications satellites, and is also a major provider of space systems, satellites, and payloads for national defense, science and environmental applications.

The Boeing Company is the largest aerospace company in the world and the United States' leading exporter. It is NASA's largest contractor and the largest manufacturer of commercial jetliners and military aircraft. The company's capabilities in aerospace also include rotorcraft, electronic and defense systems, missiles, rocket engines, launch vehicles, satellites, and advanced information and communication systems. The company has an extensive global reach with customers in 145 countries.

Compaq Background

Founded in 1982, Compaq Computer Corporation ("Compaq") is a leading global provider of enterprise technology and solutions. Compaq designs, develops, manufactures, and markets hardware, software, solutions, and services, including industry-leading enterprise storage and computing solutions, fault-tolerant business-critical solutions, communication products, and desktop and portable personal computers that are sold in more than 200 countries.

Information on Compaq and its products and services is available at www.compaq.com. Information on Compaq's Thin Client and Server Computing solutions is available at www.compaq.com/products/thinclients/index.html.

Compaq and the Compaq logo are trademarks of Compaq Information Technologies Group, L.P. This news release may contain 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 Hewlett-Packard/Compaq merger does not close or that the companies may be required to modify aspects of the transaction to achieve regulatory approval or that prior to the closing of the proposed merger, the businesses of the companies suffer due to uncertainty; 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; that Compaq and Hewlett-Packard are unable to transition customers, successfully execute their integration strategies, or achieve planned synergies; other risks that are described from time to time in Compaq and Hewlett-Packard's Securities and Exchange Commission reports (including but not limited to Compaq's annual report on Form 10-K for the year ended December 31, 2000, HP's annual report on Form 10-K for the year ended October 31, 2000, and subsequently filed reports). If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Compaq's results could differ materially from Compaq's expectations in these statements. Compaq assumes no obligation and does not intend to update these forward-looking statements.