HP Helps Drive IT for Fast-growing India Retail Leader

HP today announced that it has won a financing and asset management services contract from Subhiksha, India’s largest supermarket, pharmacy and telecommunications company and one of the country’s fastest-growing enterprises.

HP and Subhiksha have worked closely over the past year to enhance Subhiksha’s IT infrastructure and help drive the company’s expansion. HP Financial Services, the company’s asset management services and leasing subsidiary, is providing financing for software licenses as well as leasing and asset management services for the IT assets Subhiksha is deploying to expand its technology infrastructure.

“We have been very pleased with the results we have achieved by using HP’s financing and asset management services,” said R. Subramanian, managing director, Subhiksha. “By leasing, we are able to invest effectively in our business growth, confident that we can expand our IT environment as needed and refresh our technology platform in the years ahead as newer, more efficient generations of IT equipment become available.”

Irv Rothman, president and chief executive officer, HP Financial Services, said, “India is a critical market for us and building a strong relationship with leading companies like Subhiksha is key to our growth strategy in Asia.”

In addition to facilitating deployment of SAP business enterprise software, HP Financial Services is providing desktop PCs and other IT equipment on lease. Asset upgrades that enhance business productivity, such as those made possible by HP, are vital for any company that relies on the continuity of its online systems.

HP seamlessly refreshes older PCs with new technology, avoiding downtime and disposition-related concerns or costs. As older IT assets are phased out, HP Financial Services manages disposition in an environmentally sound fashion. HP also offers industry-standard software and processes to overwrite disk drives and help safeguard data that may reside on drives or in memory.

HP has been recognized as a certified IT Asset Disposal vendor by IDC, a leading provider of global IT research and advice. HP Financial Services operates centers dedicated to asset disposition in the United States, Germany and the Netherlands, and works with partner organizations in other areas of the world. While IDC’s certification process only considered U.S. operations, HP offers comparable capabilities worldwide.

More information is available at http://www.hp.com/hpfinancialservices.

HP and the environment

For decades HP has been an environmental leader, driving company stewardship through its holistic design for environment strategy. HP influences industry action through its long-standing commitment to maintain supply chain responsibility, sustain energy efficient operations, reduce its climate impact and offer product reuse and recycling options. HP also makes it easier for customers to recognize environmentally preferable features through HP Eco Solutions, a program that helps customers identify products and services designed with the environment in mind. More information is available at www.hp.com/environment.

About HP

HP, the world’s largest technology company, provides printing and personal computing products and IT services, software and solutions that simplify the technology experience for consumers and businesses. HP completed its acquisition of EDS on Aug. 26, 2008. More information about HP (NYSE: HPQ) is available at http://www.hp.com.

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 execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2008 and HP’s other 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, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2008 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.