Agilent Technologies and HP Discuss the Formation of a Strategic Alliance to Include Joint Business Initiatives

Business Wire, March 22, 2001

Business Editors/High-Tech Writers

PALO ALTO, Calif.--(BUSINESS WIRE)--March 22, 2001

Two companies that were once one may come full circle. Agilent Technologies Inc. (NYSE: A) and Hewlett-Packard Company (NYSE: HWP) signed a letter of intent to discuss the formation of a strategic alliance agreement to jointly pursue potential business initiatives and sales and marketing opportunities.

Agilent, a leading provider of innovative technologies for communications and life sciences, was spun off from HP in November 1999. Agilent became fully independent in June 2000. Since then, Agilent and HP have been major customers and suppliers of one another.

"A strategic alliance would significantly benefit our respective customers and our companies," said Alain Couder, Agilent COO. "We have a unique history together and an existing strong relationship as one another's customer. Such an alliance would leverage Agilent's strengths as an innovative technology company and HP's strengths as a major force in the computer industry."

The discussions include the possibility of:

-- recognizing each other as a strategic customer and partner to develop a new
framework for Best-In-Class Business Partner Relationships and Supplier
Performance;

-- identifying potential sales and marketing opportunities; and

-- identifying potential business initiatives and opportunities.

"Such an agreement would allow two companies with one great heritage to collaborate in a new way," said Ann Livermore, president, HP Services. "Each company would get a partner they already know and trust."

Agilent has worked closely with HP to design many application-specific silicon integrated circuits. Agilent co-developed the embedded technology used in the HP LaserJet printer line, enabling HP to provide a more economical printing solution. "Once executed, such a strategic alliance agreement would formalize our collaborative relationship and enable each company to capitalize on joint marketing and product development opportunities," said Couder.

Financial terms were not disclosed.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications and life sciences. With 47,000 employees serving customers in more than 120 countries, Agilent had net revenue of $10.8 billion in fiscal year 2000. Information about Agilent Technologies can be found on the Web at www.agilent.com.