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HP Announces Latest Merger Milestone, Names 150 Senior Managers

Press release from the issuing company

PALO ALTO, Calif.--April 3, 2002--Hewlett-Packard Company announced the latest milestone in the HP and Compaq Computer Corporation merger integration effort with the naming of 150 senior managers, including those who will directly report to the heads of HP's new businesses and those who will oversee HP's regional sales efforts in Asia Pacific, Europe, Middle East and Africa, Latin America and North America. HP and Compaq announced the new leaders, which include experienced executives from both companies, and their positions in separate communications to their employees. Filling key leadership positions is one of the responsibilities of the merger integration team, which leads the planning for the new HP. Today's announcement is an important step on the critical path to ensuring the company is prepared to hit the ground running once legal approval is obtained. Below are the names and areas of responsibility for the senior managers designated to key positions related to the printing business unit: Executives who will report to Vyomesh Joshi, executive vice president, HP Imaging and Printing Group, include: * Gilles Bouchard, Imaging and Printing Group Operations * Rand Dunn, Imaging and Printing Group Human Resources * Tom Hardison, Integration Lead * Michael Hoffman, Asia Pacific and Japan * Pradeep Jotwani, Supplies * Larry Lesley, Personal Printing * Lee Ray Massey, Americas * John McMullen, Imaging and Printing Group Finance * Bernard Meric, Europe, Middle East and Africa * Chris Morgan, Sales and Marketing * George Mulhern, Shared Printing and Imaging * Stephen Nigro, Imaging and Printing Group Technology Platforms * Mary Peery, Digital Imaging and Publishing Compaq shareowners have already approved the merger transaction and official certification of the voting results from HP's March 19 special meeting is expected in the next few weeks. The HP Board of Directors has indicated that based on a preliminary estimate of shareowner proxies by HP's proxy solicitors, it believes it has received sufficient votes to approve the merger.