Unilever Engages HP to Conduct Due Diligence for Enterprise Computing

PALO ALTO, Calif., and LONDON, Jan. 25, 2007, HP and Unilever today announced that they have signed a memorandum of understanding to enter into due diligence of Unilever’s Enterprise Computing operations.

Under the terms of the memorandum, data center operations, server and database management, and application hosting for Unilever’s operations in the Americas, Asia, Africa, the Middle East and Turkey would be outsourced to HP if an agreement is reached. The companies hope to reach a definitive agreement in the first half of this year.

“In this space, HP has demonstrated a distinctive collaborative approach combined with a clear expertise in the delivery of global services,” said Neil Cameron, chief information officer, Unilever. “This potential agreement would be a natural extension of our current relationship. The intention between both parties is to leverage HP’s scale, expertise and industry leadership to ensure Unilever has access to world-class technology at substantially lower costs.”

“We would be delighted to work with Unilever, a world-class company, and free it to focus on its core strengths,” said Pablo Sanchez-Lozano, senior vice president, HP Services. “With our highly experienced services professionals and global capabilities, we propose to deliver a more simplified and flexible IT infrastructure that would deliver true business value and effectiveness, a better return on IT and reduced operational costs.”

About Unilever

Unilever’s mission is to add vitality to life. We meet everyday needs for nutrition, hygiene and personal care with brands that help people feel good, look good and get more out of life.

Unilever is one of the world’s leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries across the globe. Its portfolio includes some of the world’s best known and most loved brands including twelve €1 billion brands and global leadership in many categories in which the company operates. The portfolio features brand icons such as Knorr, Hellmann’s, Flora, Dove, Lynx, Persil, Domestos, Marmite and Pot Noodle.

Unilever has around 206,000 employees in approaching 100 countries and generated annual sales of €40 billion in 2005. For more information about Unilever and its brands, please visit www.unilever.com.

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.

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 regarding the expectations of HP and Unilever regarding the ultimate execution of a definitive agreement; statements regarding the expected timing of the execution of a definitive agreement; statements regarding the expected scope and terms of a definitive agreement; statements regarding the expected benefits to be achieved by the parties under a definitive agreement; statements of the plans, strategies and objectives of management of HP and Unilever for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results of HP and Unilever; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the risk that a definitive agreement may not be executed; risks related to the timing of the execution of a definitive agreement; risks relating to the uncertain scope and terms of a definitive agreement; the risk that the expected benefits of a definitive agreement may not materialize as expected; the risk that the parties are unable to successfully perform under the terms of a definitive agreement; risks relating to 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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