HP to Change NYSE Trading Symbol from HWP to HPQ.

Business Editors/High-Tech Writers

PALO ALTO, Calif.--(BUSINESS WIRE)--May 2, 2002

Hewlett-Packard Company (NYSE:HWP) today announced that it will change its NYSE trading symbol from HWP to HPQ effective Monday, May 6, 2002.

"Our new trading symbol is a tribute to the contribution of both companies as we come together to build the new HP," said Carly Fiorina, HP chairman and chief executive officer.

HP expects to close its merger with Compaq Computer Corporation (NYSE:CPQ) on May 3, 2002, and that the trading of Compaq common stock will be suspended before the opening of the market on May 6, 2002.

This document contains forward-looking statements that involve risks, uncertainties and assumptions. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, the results of HP and its consolidated subsidiaries could 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 predictions regarding the timing of the closing of the merger, suspension of Compaq stock trading and new trading symbol.

The risks, uncertainties and assumptions referred to above include the possibility that the merger may not close or that HP, Compaq or other parties to planned acquisitions may not complete pre-closing preparations by the expected time; 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-Q, as filed on March 12, 2002, for the fiscal quarter ended January 31, 2002, and subsequently filed reports.

HP assumes no obligation and does not intend to update these forward-looking statements.