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HPQ » Topics » ONE-YEAR CUMULATIVE RETURN** (Investment of $100 on October 31, 2003)

This excerpt taken from the HPQ DEF 14A filed Feb 11, 2005.

ONE-YEAR CUMULATIVE RETURN**
(Investment of $100 on October 31, 2003)

CHART

*
$100 invested on 10/31/99 in stock or index including reinvestment of dividends. Fiscal year ending October 31.
**
$100 invested on 10/31/03 in stock or index including reinvestment of dividends. Fiscal year ending October 31.
(1)
The stock performance graph peer group is composed of large companies that we compete with on a worldwide basis as follows: Apple Computer, Inc., Dell Inc., EDS Corporation, EMC Corporation, Gateway, Inc., IBM Corporation, Lexmark International Group Inc., Sun Microsystems, Inc. and Xerox Corporation.

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PRINCIPAL ACCOUNTANT FEES AND SERVICES

        The Audit Committee has appointed Ernst & Young LLP as HP's independent registered public accounting firm for the fiscal year ending October 31, 2005. Stockholders are being asked to ratify the appointment of Ernst & Young LLP at the annual meeting pursuant to Proposal No. 2. Representatives of Ernst & Young LLP are expected to be present at the annual meeting, will have the opportunity to make a statement if they desire to do so and are expected to be available to respond to appropriate questions.

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