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HPQ » Topics » ONE-YEAR CUMULATIVE RETURN** (Investment of $100 on October 31, 2005)

This excerpt taken from the HPQ DEF 14A filed Jan 23, 2007.

ONE-YEAR CUMULATIVE RETURN**
(Investment of $100 on October 31, 2005)

         CHART

*
$100 invested on 10/31/01 in stock or index including reinvestment of dividends. Fiscal year ending October 31.

**
$100 invested on 10/31/05 in stock or index including reinvestment of dividends. Fiscal year ending October 31.

(1)
The current stock performance graph peer group is composed of large companies that we compete with on a worldwide basis as follows: Accenture Ltd., Apple Inc., Dell Inc., Electronic Data Systems Corporation, EMC Corporation, Gateway, Inc., International Business Machines Corporation, Lexmark International Group Inc., Sun Microsystems, Inc. and Xerox Corporation. The same companies except Accenture were included in the performance graph peer group previously used by HP.

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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, 2007. 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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