HP INC — Director's Dealing 2003

Dec 16, 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: LESJAK CATHERINE A (Sr. Vice President,, Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-15	Common Stock	A	346	—	Acquired	757.9146	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: Includes the acquisition of 187.7307 shares in July 2003, 0.7295 shares in October 2003 and 223.4544 shares in November 2003 under the Hewlett-Packard Company Share Ownership Plan in a transaction exempt under Rule 16b-3.

F4: Not included in the Reporting Persons direct holdings are 211.8490 shares held indirectly on behalf of her spouse.