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New HP to Launch May 7th: Certified Vote Tally on Compaq Merger Complete

Press release from the issuing company

PALO ALTO, Calif.--May 1, 2002--Hewlett-Packard Company today announced that the independent Inspectors of Election, representatives of IVS Associates, Inc., have issued their final Inspectors of Election report with respect to the special meeting of shareowners held on March 19, 2002. According to the report, there were 838,401,376 shares of HP common stock voted for the proposal to approve the issuance of shares of HP common stock in connection with the merger transaction with Compaq Computer Corporation, 793,094,105 shares voted against the proposal and 13,950,651 shares abstained. Based on this report, HP confirms that the proposal has passed in accordance with New York Stock Exchange requirements. HP expects to close the deal on May 3, 2002. The launch of the new HP will take place on May 7, 2002.