HP INC — Director's Dealing 2004

Dec 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2004-12-15

Reporting Person: BASKINS ANN O (Sr. VP, General Counsel and, Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-15	Common Stock	F	172	—	Disposed	44302.4314	Direct

Footnotes

F1: Not applicable.

F2: Includes the acquisition of 14.5065 shares in January 2004, 15.0738 shares in April 2004, 1,532.8020 shares in May 2004, 22.9015 shares in July 2004 and 24.5752 shares in October 2004 under the Hewlett-Packard Company Share Ownership Plan in transactions exempt under Rule 16b-3.

F3: The Reporting Person holds an additional 2,684.7920 shares indirectly under the Hewlett-Packard Company 401(k) Plan ("HP 401(k) Plan"). The Reporting Person's indirect holdings include the acquisition of 5.372 shares in January 2004, 25.301 shares in April 2004 and 13.251 shares October 2004 under the HP 401(k) Plan in acquisitions exempt under Rule 16b-3. The Reporting Person also holds 5,620 shares indirectly on behalf of her sons.