HP INC — Director's Dealing 2005

Mar 22, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2005-03-17

Reporting Person: LIVERMORE ANN M (EVP, HP Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-17	Common Stock	A	150000	—	Acquired	168224.4477	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3795.765	Indirect

Footnotes

F1: Not Applicable.

F2: Includes the acquisition of 279.5138 shares in November 2004 under the Hewlett-Packard Company Share Ownership Plan (the "SOP") and 13.3332 shares in January 2005 received in lieu of cash through the dividend reinvestment program under the SOP, in transactions exempt under Rule 16b-3.

F3: Represents the reporting person's holdings under the Hewlett-Packard Company 401(k) Plan as of February 28, 2005.