HP INC — Director's Dealing 2003

Dec 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2003-12-15

Reporting Person: WINKLER MICHAEL J (Executive Vice President,, Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-15	Common Stock	A	15000	—	Acquired	67230.328	Direct

Footnotes

F1: Award of restricted stock under the Hewlett-Packard Company 2000 Stock Plan in a transaction exempt under Rule 16b-3.

F2: Not applicable.

F3: The Reporting Person holds an additional 4,603.0840 shares indirectly in a 401(k) account. The Reporting Person's indirect 401(k) holdings include the acquisition of 18.103 shares in October 2003 under the Compaq Computer Corporation 401(k) Investment Plan in a transaction exempt under Rule 16b-3.