7.13.2007 - 08:12am ET

A worker at an HP facility disassembles a CRT monitor before it is responsibly recycled. HP has set a new target to recycle or reuse a cumulative 2 billion pounds of electronics by the end of 2010. (Photo: Business Wire)

(CSRwire) PALO ALTO, Calif.--(BUSINESS WIRE)--July 13, 2007--Having met its goal six months early to recycle 1 billion pounds of electronics, HP NYSE:HPQ) today announced that it has set a new target for another billion pounds by the end of 2010.

The company set its initial goal in 2004 after it had reached the half billion pound mark. It went on to recycle a further half billion pounds in the ensuing three years. HP is now committing to recover a cumulative 2 billion pounds of electronics and print cartridges by the end of 2010, doubling its annual recovery rate.

"Environmental responsibility is good business," said Mark Hurd, HP chairman and chief executive officer. "We've reached the tipping point where the price and performance of IT are no longer compromised by being green, but are now enhanced by it."

In 2006 alone, HP recovered 187 million pounds of electronics globally, 73 percent more than IBM, its closest competitor.(1)

HP has been a leader in environmental responsibility for decades. Its global environmental strategy is based on designing for the environment, which includes product design, as well as the management of HP's own operations and supply chain. HP is committed to:

Driving significant reductions in HP's own environmental footprint, from the individual employee to global operations.

Recycling at HP

This year marks the 20th anniversary of the inception of HP recycling programs, which now operate in more than 40 countries, regions and territories. The programs seek to reduce the environmental impact of IT products, minimize waste going to landfills and help customers conveniently manage products at their end of life in an environmentally sound fashion.

Plastics and metals recovered from products recycled by HP have been used to make a range of new products, including auto body parts, clothes hangers, plastic toys, fence posts, serving trays and roof tiles.

In addition to recycling, HP offers a variety of product end-of-life management services including donation, trade-in, asset recovery and leasing.

HP and the environment

For decades HP has worked to manage its environmental impact by adopting environmentally responsible practices in product development, operations and supply chain. The company strives to be a global leader in reducing its carbon footprint, limiting waste and recycling responsibly. HP's efforts earned it recognition as one of Fortune Magazine's "Ten Green Giants" in April 2007. More information about the company's work in relation to the environment is available at www.hp.com/environment

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 $97.1 billion for the four fiscal quarters ended April 30, 2007. More information about HP is available at www.hp.com

Note to editors: More news from HP, including links to RSS feeds, is available at www.hp.com/hpinfo/newsroom/
(1) IBM's press release detailing its recycling efforts is available at www-03.ibm.com/press/us/en/pressrelease/21396.wss. IBM reported 108 million pounds recovered in 2006. HP recycled 164 million pounds and reused an additional 23 million pounds of electronics in the same year.

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 andits 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 Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2007 and HP's other 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, 2006. 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. HP shall not be liable for technical or editorial errors or omissions contained herein.

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