PALO ALTO, Calif.--(BUSINESS WIRE)--April 17, 2006--HP (NYSE:HPQ) (Nasdaq:HPQ) today announced a free data cleansing program on the hard drives of leased HP PCs to help customers enhance their security and meet regulatory compliance.(1)

HP Financial Services, the leasing and financial services subsidiary of HP, will perform a one-pass disk overwrite, consistent with U.S. Department of Defense standards, at the end of lease agreements on HP desktop and notebook PCs leased between now and July 10, 2006.

Whether involving confidential customer records or proprietary company information, it is increasingly important to protect and secure sensitive data. Executives are deluged by new laws being enacted to protect customer anonymity. The Sarbanes-Oxley Act, the Right to Financial Privacy Act, the USA PATRIOT Act, and the Health Insurance Portability and Accountability Act all contain specific liabilities related to companies' data.

"The legal obligation and liability of protecting customer or patient information are with the original owner of the data," said Irv Rothman, president and chief executive officer, HP Financial Services.

Many companies find it difficult to keep up with the rate of change of regulations and penalties related to access, storage, and the processing of confidential information. Data wipes can help prevent information from being shared and can aid executives in avoiding costly financial and legal repercussions.

"HP is offering our leasing customers a little peace of mind in knowing we'll put their hard drives through an additional data cleansing when it arrives at HP's asset recovery facilities," said Rothman.

HP Financial Services processes more than 1 million units of technology equipment per year at its asset recovery facilities.

About HP Financial Services

HP Financial Services is the industry leader in delivering global customized leasing and financial asset management solutions that simplify customers' IT lifecycle management, reduce risk and increase the return on IT investment. A wholly owned subsidiary of HP, HP Financial Services has more than $8 billion in assets and 1,600 employees in 51 countries. More information on HP Financial Services offers, programs and solutions is available at www.hp.com/hpfinancialservices.

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 Jan. 31, 2006, HP revenue totaled $87.9 billion. More information about HP is available at www.hp.com.

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(1) Financing available through Hewlett-Packard Financial Services Company or one of its affiliates is subject to credit approval and execution of standard HP Financial Services documentation. Other restrictions may apply. HP Financial Services reserves the right to change or cancel this program at any time without notice.

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 anticipated operational and financial results; statements of expectation or belief; and any statement 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 Jan. 31, 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.

(C) 2006 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.

CONTACT: HP
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or
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SOURCE: HP