HP INC — Director's Dealing 2004

Nov 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2004-11-18

Reporting Person: LESJAK CATHERINE A (Senior Vice President,, Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-18	Common Stock	S	211.849	$20.3693	Disposed	4899.0221	Direct

Footnotes

F1: Sale of all shares of Hewlett-Packard Company Stock represented by units held Indirectly in a 401(k) plan by the Reporting Person's husband.

F2: Includes the acquisition of 1.3874 shares in January 2004, 1.4416 shares in April 2004, 294.5411 shares in May 2004, 2.7676 shares in July 2004 and 2.9698 shares in October 2004 under the Hewlett-Packard Company Share Ownership Plan in a transaction exempt under Rule 16b-3.