News release

ProCurve Networking by HP and Siemens Announce Sales Agreement

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ProCurve Networking by HP today announced a worldwide sales agreement with Siemens Enterprise Communications. Under the terms of the deal, Siemens will sell voice and data solutions incorporating ProCurve network products and Siemens Voice over IP (VoIP) technology.

The initial phase of the agreement is now being rolled out in Germany with subsequent implementation planned for the United Kingdom, Austria and Spain. The companies’ combined offerings will provide high levels of IP communications performance and open standards-based networking to customers.

“This agreement combines the strengths of two market-leading companies to deliver complete networking and IP communications solutions that meet customers’ evolving business needs,” said John McHugh, vice president and general manager, ProCurve Networking by HP. “Working with Siemens will expand ProCurve’s market by reaching a wider customer base and further addressing the needs of the voice and data solution marketplace.”

“As a global vendor and system integrator, we see the need for attractive, robust and feature-rich voice and data solutions,” said Thomas Roesler, senior vice president, Data Business, Siemens Enterprise Communications. “ProCurve Networking by HP, with its compelling IP infrastructure product family, gives Siemens Enterprise Communications a new degree of freedom to act as an independent system integrator in the market for integrated data and real-time end-to-end solutions.”

ProCurve’s ability to deliver multi-vendor solutions increases the flexibility of customers’ networks to accommodate not only today’s business needs, but also support future network services from all suppliers. ProCurve invests heavily in developing interoperable solutions that allow customers to prepare for changes in their organizational models and seamlessly integrate a mixed-vendor environment while maintaining their return on investment.

About Siemens Communications, Inc.

Siemens Communications, Inc. is an affiliate of Siemens Enterprise Communications GmbH & Co. KG, one of the world’s leading vendors of open communications solutions for enterprises of all sizes, enabling business processes to be more productive, faster and more secure – with any device, network or information technology infrastructure. Siemens Communications Inc., and Siemens Enterprise Communications GmbH & Co. KG are wholly owned subsidiaries of Siemens AG with about 15,000 employees globally and headquarters in Boca Raton, Fla. For more info, visit www.usa.siemens.com/communications.

About Siemens

Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $107.4 billion in 2006. Founded 160 years ago, the company is a leader in the areas of medical, power, automation and control, transportation, information and communications, lighting, building technologies, water technologies and services and home appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $21.4 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens’ worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 480,000 people in 190 countries. For more information on Siemens in the United States: www.usa.siemens.com.

About ProCurve Networking by HP

The ProCurve Networking business unit of HP delivers wired and wireless enterprise networking products, services and solutions. The foundation for ProCurve’s business model is the Adaptive Networks strategy in which networks are adaptive to users, applications and an organization’s needs.

Further information on ProCurve networking solutions and products is available at www.procurve.com.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $104.3 billion for the four fiscal quarters ended Oct. 31, 2007. 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 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 Oct. 31, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

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