HP Adopts Procedure for Conducting Advisory Stockholder Vote Relating to Executive Compensation

PALO ALTO, Calif.—(BUSINESS WIRE)—January 16, 2009— HP (NYSE:HPQ) today announced that its board of directors has decided to allow HP stockholders to determine whether the company should conduct an annual nonbinding advisory stockholder vote related to executive compensation.

“We have adopted this procedure because executive compensation involves important issues relating to corporate governance,” said Mark Hurd, HP chairman and chief executive officer.

Under the procedure, HP will present at its 2010 annual meeting of stockholders a management proposal authorizing the company to conduct an annual nonbinding advisory vote on its executive compensation policies and procedures. If HP stockholders approve that proposal, HP will conduct a nonbinding advisory vote on its executive compensation policies and procedures at its 2011 annual meeting of stockholders and each year thereafter.

Separately, HP announced that it supports the U.S. Congress enacting appropriate legislation providing stockholders with an opportunity to express their views on the executive compensation policies of publicly held companies.

About HP

HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP is available at http://www.hp.com/.

Note to editors: More news from HP, including links to RSS feeds, is available at www.hp.com/hpinfo/newsroom/.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2008. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2009 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.



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