PALO ALTO, Calif.--(BUSINESS WIRE)--May 23, 2007--HP (NYSE:HPQ) today announced plans to allocate more than $2 million in cash and HP equipment to the World Wildlife Fund (WWF) to establish three projects aimed at addressing the causes and consequences of climate change on a global basis.

The projects, which focus on analysis, research and data collection, include:

-- The Epicenter for Climate Conservation - Focused on advancing climate adaptation and resiliency strategies and projects worldwide, the Epicenter for Climate Conservation will be driven by HP technology and led by Dr. Lara Hansen, chief climate scientist of WWF.

-- Climate Witness - An innovative online forum to raise global awareness of the tangible consequences of climate change, Climate Witness will gather the stories of individuals and communities affected by climate change and share them with the world.

-- Information and Communication Technology Innovation as a Driver of Climate Change Solutions - This program will work to identify 1 billion tons of carbon reductions through the use of information and communication technology.

"Climate change may be the most significant environmental challenge of our era," said Suzanne Apple, vice president of Business and Industry for WWF in the United States. "Now is the time for partnership and action. HP and WWF are committed to addressing the causes of climate change and limiting its impact on the planet."

HP's investment in these projects is part of the company's ongoing initiative with WWF in the United States, first established in November 2006, to reduce carbon dioxide emissions from its operating facilities worldwide; develop measures for product energy usage; educate and inspire others to adopt best practices; and, use HP technology in conservation efforts around the world.

"These initiatives are part of HP's comprehensive philanthropic and environmental strategy that uses technology to help reduce our own environmental impact, as well as that of our customers, partners and suppliers," said Pat Tiernan, vice president, Corporate, Social and Environmental Responsibility, HP. "Our contribution to these projects will deliver measurable results that we hope will encourage action from corporations, individuals and governments around the world."

Energy efficiency is a key priority at HP. The company recently announced a goal to reduce its global energy use by 20 percent by 2010. HP also plans to increase its renewable energy purchases by more than 350 percent by procuring 50 million kilowatt-hours of renewable electricity during 2007.

About WWF

For more than 45 years, WWF has been protecting the future of nature. The largest multinational conservation organization in the world, WWF works in 100 countries and is supported by 1.2 million members in the United States and close to 5 million globally. WWF's unique way of working combines global reach with a foundation in science, involves action at every level, from local to global, and ensures the delivery of innovative solutions that meet the needs of both people and nature. For more information, visit www.worldwildlife.org.

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.

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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 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, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

(C) 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.

Copyright Business Wire 2007

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