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

To: PCSS who wrote (97199)	4/17/2002 5:20:12 PM
From: PCSS	Respond to of 97611

HP Shareowners Approve Compaq Merger Proposal, According to Preliminary Vote Tally 4/17/2002 5:10:00 PM PALO ALTO, Calif., Apr 17, 2002 (BUSINESS WIRE) -- Hewlett-Packard Company (HWP) today announced that the preliminary vote tally from the March 19 special meeting of HP shareowners affirms that the proposal was approved. The preliminary vote tally, prepared by the independent inspectors of election, shows that HP shareowners voted in favor of the merger by a margin of approximately 45 million shares. Moreover, shareowners not affiliated with the Hewlett and Packard families and their foundations voted for the merger by a margin of roughly 2:1. Votes "FOR" the merger totaled approximately 837.9 million. Votes "AGAINST" the merger totaled approximately 792.6 million, of which almost half were affiliated with the Hewlett and Packard families and foundations. An insignificant number of votes cast remain unresolved. "We are gratified the preliminary vote tally validates that HP shareowners voted the majority of their shares in support of the merger," said Carly Fiorina, HP chairman and chief executive officer. "We are eager to put this difficult period behind us and look forward to doing business as the new HP." If Walter Hewlett demands a recount, both parties will participate in a review of the proxies, which HP expects would begin promptly and last approximately one week. In addition, the final tally is subject to a challenge process that could take another one to two days. Following completion of any recount and challenge, the independent inspectors of election will release a final, certified vote tally.