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Welcome to the New HP
- Customer Letter -

Dear valued partner,

We'd like to take a moment to introduce you to the new HP.

Today, we bring together two great companies to create one world-class technology leader that we hope will earn the role as your partner of choice. Hard work and the courage of our convictions brought us to this day. Now, we're eager to prove we can seize the moment and lead the change in our industry.

Together, we have a unique opportunity to serve customers like never before, building on an unrivaled portfolio of technologies, products and solutions and an ability to engage customers in a way that no other combination of partners can.

While this merger obviously signifies change, we are committed to making the process of integrating our two companies as transparent as possible to you and our customers. In fact, many aspects of doing business with the combined company will remain the same. Most important, our unwavering focus on customers and our commitment to partners will continue to guide our actions as we integrate HP and Compaq.

Both HP and Compaq have taken great pride in being good partners, and we will continue to rely on you to help us meet the broad needs of our customers and extend our market reach. All of this, of course, means that we must work harder to make you even more successful through greater cost efficiencies, better delivery, and the best lineup of products and services in the industry.

As we go about the process of integration, we will make every effort to ensure that your day-to-day interactions with the new company go smoothly. In the coming weeks, we will provide you with more information on the new HP.

On behalf of the people of the new HP, we would like to thank you for standing by us through this important journey. We do not take your loyalty for granted. We look forward to proving ourselves and building a new kind of partnership - one we can both be proud of. Warm regards,

Carly Fiorina Chairman and Chief Executive Officer

Michael Capellas President

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