HP INC — Director's Dealing 2004

Dec 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2004-12-22

Reporting Person: JOHNSON ALLISON (Sr. VP, Global Brand and Comm.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-22	Common Stock	S	738	$21.20	Disposed	17500	Direct

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a 10b5-1 Trading Plan adopted by the Reporting Person on December 6, 2004.

F2: The Reporting Person holds an additional 1,339.2270 shares indirectly under the Hewlett-Packard Company 401(k) Plan.