Compaq Capital Offers Limited-Time Payment Deferral and Cash Back Programs.

WOODBRIDGE, N.J.--(BUSINESS WIRE)--Oct. 1, 1998--

Customers Can Defer Lease Payments for 90 Days,

or Get 2% Back in Cash

Compaq Capital Corporation, a wholly owned subsidiary of Compaq Computer Corporation (NYSE:CPQ), is offering a special fourth-quarter promotional program that enables commercial customers to defer lease payments for 90 days on Compaq technology and services they acquire by December 31, 1998.

Or, for customers who don't need to defer payments, Compaq Capital will extend a 2-percent cash rebate on the total value of their lease transaction.

"This budget-stretching program is designed to help overcome the cash-flow constraints that many businesses encounter at year-end," said Gerri Gold, Compaq Capital's vice president of corporate development. "Customers can get the technology they need now, and beat the year-end budget crunch by deferring payment until 1999."

Available through the Compaq network of authorized resellers, the Deferred Payment Program applies to all Compaq laptops, desktops, workstations, servers, options (including networking and communication equipment) and Compaq and reseller services, as well as non-Compaq equipment as part of a Compaq solution.

Leases must commence between October 1 and December 31, 1998, to take advantage of these promotional offers.

"This means, for example, that a customer can enter into a lease that begins December 1, and not make the first monthly lease payment until March 1, 1999," Gold said. "This option is especially beneficial for customers who urgently need new technology but have no budget remaining to cover a fourth-quarter outlay.

"Or, a customer without those budget constraints can enter into a lease with the first monthly lease payment due within 30 days, and get a rebate equal to 2 percent of the lease's total value," she added.

About Compaq Capital

Compaq Capital Corporation was established in January 1997 to provide customers with flexible, Compaq-branded financing to fund their technology investments. The company opened for business in North America in July 1997, with its headquarters in Woodbridge, N. J. It currently operates throughout the United States and Canada, and in 21 other countries in Latin America, Europe and Asia/Pacific.

Compaq Capital provides customized enterprise financing solutions, encompassing computers, networks and technology upgrades, as well as state-of-the-art leased asset tracking and disposal services, for large and multinational business customers. The company also delivers an array of product offerings especially geared to small and medium-sized businesses. Compaq Capital can be reached by calling, toll-free, 1-888-277-5942. Information about Compaq Capital's products and services can be found at http://www.compaq.com/capital.

About Compaq Computer

Founded in 1982, Compaq Computer Corporation is a Fortune Global 100 company. Compaq is the second-largest computer company in the world and the largest global supplier of personal computers. Based in Houston, Compaq develops and markets hardware, software, solutions and services, including industry-leading enterprise computing solutions, fault-tolerant business-critical solutions, networking and communication products, commercial desktop and portable products and consumer PCs. The company is an industry leader in environmentally friendly programs and business practices.

Compaq products are sold and supported in more than 100 countries through a network of authorized Compaq Marketing partners. Customer support and information about Compaq and its products are available at http://www.compaq.com or by calling 1-800-OK-COMPAQ. Product information and reseller locations are available by calling 1-800-345-1518.

Leasing is available through Compaq Capital Corporation to qualified commercial customers in the United States. This program is subject to change without notice and other conditions may apply.