HP INC — Director's Dealing 2005

Apr 1, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2005-03-30

Reporting Person: LAMPMAN DICK (Sr. VP, Director of HP Labs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-30	COMMON STOCK	M	6399	$17.57	Acquired	40622.9646	Direct
2005-03-30	COMMON STOCK	S	6399	$22.00	Disposed	34223.9646	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-30	Employee Stock Option (right to buy)	$17.57	M	6399	Disposed	2005-11-16	Common Stock (6399)	Direct

Footnotes

F1: The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on
March 7, 2005.

F2: This option became exercisable in 25% increments annually beginning on November 17, 1996.

F3: Not applicable.