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

To: hlpinout who wrote (94281)	12/14/2001 8:02:11 PM
From: hlpinout	Read Replies (1) \| Respond to of 97611

H-P Bd Member Knowling Reaffirms Support For Compaq Deal Updated: Friday, December 14, 2001 06:20 PM ET Printer-friendly version WASHINGTON (Dow Jones)--In a filing with securities regulators Friday, Hewlett-Packard Co. (HWP, news, msgs) board member Robert E. Knowling Jr. said the company is totally committed to its deal to buy Compaq Computer Corp. (CPQ, news, msgs). It would be a mistake not to complete the merger, Knowling said. "This combination grants us even more opportunity for our industry leading printing and imaging business," Knowling said. "Bottom line, we become the '600-pound gorilla' that has to be reckoned with in size, deep experience, customer relationships, products and capability." "The notion of staying the current course is a mistake and, quite frankly, seals the fate of (Hewlett-Packard) as a company that certainly will be a mere shadow of itself down the road and I sincerely believe that is near term," Knowling said. Knowling said the combined company would compete with International Business Machines Inc. (IBM, news, msgs) in the enterprise space with "a rich array of services and products." "We'll be able to leverage the respective infrastructures of (Hewlett-Packard) and Compaq to truly develop and launch the kind of efficient direct model for the PC business that has to be done regardless of the deal," he said. "In doing so, we can now really compete against Dell." Knowling expressed his support for Hewlett-Packard Chief Executive Carly Fiorina, saying it pains him to see the negative publicity she's received. "I believe in her. I trust her and I am confident that she will lead this company to the next level of greatness and she will be the first to admit when we get there that it was great HP employees who delivered the performance," he said. -Ben Siegel; Dow Jones Newswires; 202-628-7689 DOW JONES NEWS 12-14-01 06:20 PM