HP Recycling Rate Increased 16 Percent in 2006, Expects to Surpass Goal of 1 Billion Pounds in 2007

PALO ALTO, Calif., Jan. 23, 2007, HP recycled more than 164 million pounds (74 million kilograms) of hardware and HP print cartridges globally in its 2006 fiscal year – an increase of 16 percent over the previous year and the equivalent weight of more than 600 jumbo jet airliners.

In addition, HP collected more than 2.5 million units of hardware globally – weighing more than 50 million pounds (22.6 million kilograms) – to be refurbished for resale or donated.(1)

To date the company has recycled more than 920 million pounds (417 million kilograms) of hardware and HP print cartridges globally. This puts the company on track to surpass its goal of recycling 1 billion cumulative pounds (455 million kilograms) by the end of this year.

“Closing in on our 1 billion pound goal is yet another example of HP’s commitment to reducing impact on the environment,” said Pat Tiernan, vice president, Corporate, Social and Environmental Responsibility, HP. “Part of environmental responsibility at HP is to provide global recycling programs that give our customers choice, convenience and control in how to dispose of products responsibly.”

Highlights from HP’s recycling programs in 2006 include:

* In Europe, the Middle East and Africa, HP recycled more than 84 million pounds (38 million kilograms) of hardware.
* In the Americas region, HP collected more than 42 million pounds (19 million kilograms) of hardware. A series of free consumer recycling events held throughout the United States between June and September recovered 1 million pounds (455,000 kilograms) alone. The events were held in Colorado, Connecticut, Illinois, Maryland, Minnesota, New Mexico and Oregon.
* In the Asia Pacific region, HP nearly doubled the amount of hardware it recycled to almost 7 million pounds (3.2 million kilograms) by aligning its trade-in, refurbishing and recycling operations to provide full asset-recovery services for business customers in Australia, China, Hong Kong, India, Japan, New Zealand, Singapore, South Korea and Taiwan.

In 2005, HP recovered for reuse and recycling more than 45 percent (164 million pounds or 74.5 million kilograms) of the total volume of hardware taken back by the top three PC vendors at the time. IBM recovered approximately 120 million pounds and Dell recovered approximately 80 million pounds, according to reports(2) published by the two firms.

HP and Scholastic improve environmental awareness

HP is also increasing awareness of environmental responsibility by reaching out to the next generation of electronics recycling stewards with Scholastic, the global children’s publishing, education and media company.

The two teamed to develop and distribute “Get in the Technology Loop!,” a supplemental education program designed to raise student awareness of environmental issues related to technology. The educational materials introduce students to the concept of the product lifecycle, environmental issues related to technology and the role that students and their families can play in environmental responsibility.

“Get in the Technology Loop!” is expected to reach 12 million teachers and students in the United States in the coming months. More information about this program is available at http://content.scholastic.com/browse/unitplan.jsp?id=204.

Recycling at HP

This year marks the 20th anniversary of the inception of HP recycling programs, which now operate in more than 40 countries, regions and territories. The programs seek to reduce the environmental impact of IT products, minimize waste going to landfills and help customers conveniently discard products in an environmentally sound fashion. Plastics and metals recovered from products recycled by HP have been used to make a range of new products, including auto body parts, clothes hangers, plastic toys, fence posts, serving trays and roof tiles.

In addition to recycling, HP offers a variety of product end-of-life management services including donation, trade-in, asset recovery and leasing. More information about HP’s environmental responsibility is available at www.hp.com/go/environment.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2006, HP revenue totaled $91.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.

(1) HP’s donation service is only available in the United States.

(2) HP’s 2006 Global Citizenship Report is available at www.hp.com/go/report. IBM’s Innovations in Corporate Responsibility Report is available at www.ibm.com/ibm/responsibility/pdfs/IBM_CorpResp_2004-05.pdf. Dell’s 2006 Sustainability Report is available at www.dell.com/downloads/global/corporate/environ/2006_sustainability_report.pdf.

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; 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 the achievement of expected results and other risks that are described from time to time in HP’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006 and other reports filed after that Form 10-K. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2007 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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