HP Expands Global Recycling Program

PALO ALTO, Calif., June 27, 2006, HP today announced the expansion of its product return and recycling program to reach more customers and create new ways for people to discard used or unwanted electronic equipment in a convenient and environmentally responsible manner.

The company will host a series of product collection events in the United States throughout the summer to raise awareness and increase the rate of electronics recycling among consumers.

The collection events, which will accept a range of products from any manufacturer, will be held from June through September in Colorado, Connecticut, Illinois, Maryland, Minnesota, New Mexico and Oregon.

“Customers are integral to our worldwide commitment to the environment,” said John Frey, manager, Corporate Environmental Strategies, HP. “It is critical that we work with communities to explore innovative approaches to electronics recycling, so we can continue to offer the most environmentally responsible solution available while providing our customers with convenient choices.”

During the local product collection events, customers can drop off a broad range of products from any manufacturer at no charge. All products collected will be recycled at one of HP’s approved recycling facilities across the United States. These facilities operate under HP’s global recycling standards, which ensure responsible product recycling.

HP also is expanding its product take back offering throughout Asia Pacific and Japan, where the company has aligned its trade-in, refurbishing and recycling operations to offer full asset-recovery services to commercial customers in the region. These services match existing consolidated asset-recovery and recycling services offered by HP in Europe and the Americas. Consumer collection programs also are planned for specified locations in Australia, China and France.

HP is on target to meet its global goal to recycle 1 billion pounds of hardware and HP print cartridges by the end of 2007. In 2005, HP recycled approximately 140 million pounds of hardware and HP print cartridges globally – an increase of 17 percent over the previous year. Since the company began recycling, it has recycled 750 million pounds in total.

HP’s recycling program operates globally in more than 40 countries, regions and territories and seeks 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 in new HP products, as well as a range of other uses, including auto body parts, clothes hangers, plastic toys, fence posts, serving trays and roof tiles.

In addition to working closely with customers, HP proactively engages with external stakeholders to anticipate emerging environmental issues and legislation. HP advocates for a producer responsibility approach to e-waste legislation whereby all stakeholders play a role in managing the proper end-of-life management of products.

More information on HP’s return and recycling program is available at www.hp.com/recycle.

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 April 30, 2006, HP revenue totaled $88.9 billion. More information about HP (NYSE, Nasdaq: 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 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 Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2006, and other reports filed after HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2005. HP assumes no obligation and does not intend to update these forward-looking statements.

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