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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (94236)	12/13/2001 5:22:44 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Compaq Board of Directors Responds by: texas_red64 Long-Term Sentiment: Strong Buy 12/13/01 05:18 pm Msg: 264615 of 264616 Compaq Board of Directors Responds to Walter Hewlett Letter HOUSTON, Dec 13, 2001 /PRNewswire via COMTEX/ -- The Compaq Computer Corporation (NYSE: CPQ) Board of Directors today sent the following letter to Mr. Walter Hewlett: This is a response to your letter of December 12, 2001. We and the Compaq management team strongly disagree with your conclusions. The Board of Directors of Compaq has carefully analyzed the short-term and long-term impact as well as the strategic implications of the proposed HP-Compaq merger. We are disappointed that both the Hewlett Foundation and the Packard Foundation have decided to oppose the transaction. We continue to believe that the combination of HP and Compaq will provide better market coverage, significant synergies and higher profits than either company would achieve on its own. These benefits will lead to the creation of long-term value for both Compaq and HP shareholders. On that basis, we believe that this merger is well worth the effort and that our employees, shareholders and customers will be better served in the long term. Therefore we will continue to vigorously encourage shareholders to vote in favor of the transaction. In addition, we are confident that over the coming months, the shareholders of both companies will recognize the value of the merger and give their approval. The Board of Directors of Compaq is pleased with the execution of the company's present strategy and with its market momentum. We intend to maintain this positive momentum and bring an even stronger Compaq to the merger.

To: Elwood P. Dowd who wrote (94236)	12/14/2001 7:00:18 AM
From: hlpinout	Read Replies (3) \| Respond to of 97611

Didn't mean to repeat at post 94250 but I missed your post and could not delete mine it after I found yours. They tricked me by changing the title but not the contents. -- December 13, 2001 Compaq Says Strongly Disagrees With Hewlett Conclusions HOUSTON -- Compaq Computer Corp.'s (CPQ) board said it strongly disagrees with Walter Hewlett's negative conclusions about the proposed merger of the computer maker with Hewlett-Packard Co. (HWP) and is disappointed that both the Hewlett Foundation and the Packard Foundation have decided to oppose the transaction. In a press release Thursday, Compaq's board said in response to a letter from Mr. Hewlett that it has carefully analyzed the short-term and long-term impact of the deal, as well as the strategic implications of the proposed merger, and continues to believe that the combination will provide better market coverage and higher profits than either company would achieve on its own. Compaq said it believes the merger is "well worth the effort," and said it will continue to vigorously encourage shareholders to vote in favor of the transaction. Compaq also said it is confident that the shareholders of both companies will recognize the value of the merger and give their approval. In addition, the board said it is pleased with the execution of the company's present strategy and with its market momentum. Earlier Thursday, former H-P Chairman Richard Hackborn resigned from the board of the Hewlett Foundation, although he will remain a director of H-P, because of Mr. Hewlett's decision to oppose the merger. Walter Hewlett urged the boards of both companies to cancel the planned merger before a shareholder vote in order to avoid "serious and increasing adverse consequences." In September, Hewlett-Packard agreed to buy Compaq in a stock transaction valued at $25 billion.