HP INC — Director's Dealing 2004

Jun 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2004-05-28

Reporting Person: FLAXMAN JON E (Sr. Vice President,, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-28	Common Stock	S	3977	$21.2	Disposed	19921.0263	Direct

Footnotes

F1: Includes the acquisition of 16.2025 shares in April 2004 under the Hewlett-Packard Company Share Ownership Plan in a transaction exempt under Rule 16b-3.

F2: The Reporting Persons holdings reflect a reduction of the number of shares held under the Hewlett-Packard Company Share Ownership Plan, a 423 Plan, due to an administrative error in a transaction exempt under Rule 16b-3.