HP Expands Trade-in Program, Offers Free Recycling to U.S. Customers

HP (NYSE:HPQ) today introduced a program that offers consumers in the United States a simple way to receive cash for their unwanted technology equipment or, if there is no value, to recycle it.

The HP Consumer Buyback and Planet Partners Recycling Program aims to reduce the amount of electronics in landfills by refurbishing technology for further use or safely recycling it.

Through the program, consumers can receive cash back for their unwanted PCs, monitors, printers, digital cameras, PDAs (personal digital assistants) and smartphones of any brand. If there is no value, consumers can responsibly recycle their HP and Compaq-branded products for free.

The HP Consumer Buyback and Planet Partners Recycling Program is a service provided to HP customers through Market Velocity Inc. More information on how to receive a quote for, or recycle, unwanted technology equipment is available at www.hp.com/go/ConsumerBuyback.

"As part of the HP Eco Solutions program, we offer practical solutions that make it easy for customers to go green,” said Tony Prophet, senior vice president, Worldwide Supply Chain Operations, HP. "The HP Consumer Buyback and Planet Partners Recycling Program is yet another example of HP’s longtime commitment to reducing environmental impact by providing a convenient way for customers to responsibly recycle electronics.”

HP has been offering recycling services to customers of all sizes since 1987 and officially launched the HP Planet Partners return and recycling program for HP LaserJet print cartridges in 1991. Since the inception of HP Planet Partners, more than 197 million HP LaserJet and inkjet print cartridges have been returned and recycled worldwide. More information about HP’s recycling program is available at http://www.hp.com/recycle.

HP has taken back more than 1 billion pounds of electronic equipment and is on track to reach its goal of 2 billion pounds recovered by 2010. The new Consumer Buyback program is an expansion of HP Planet Partners return and recycling program.

How to participate

The HP Consumer Buyback and Planet Partners Recycling Program makes it easy to be rewarded for unwanted technology equipment or dispose of it in an environmentally responsible way. Follow these steps to participate in the program:

1. Visit www.hp.com/go/ConsumerBuyback.

2. Enter the required product information (brand, model, specs, etc.).

3. Receive an instant buyback quote, net of shipping costs, if there is value.

4. If there is residual value, simply box up the product, apply the shipping label provided by HP and drop it off at a local UPS location.

5. Once HP receives the package and checks the integrity of the product, it will mail a check.

If the product does not have residual value, HP will recycle HP and Compaq-branded products for free. Simply box up the product, apply the provided label and drop it off at a local UPS location. For an additional fee, home pickup of products is available.

"Market Velocity has been managing the HP Trade-in Program for seven years and is pleased to be expanding the program to include the Consumer Buyback and Planet Partners Recycling Program,” said Mark Eigenbauer, president, Market Velocity. "Market Velocity is proud to be chosen by HP to manage this compelling new program, which clearly demonstrates HP’s commitment in providing environmentally sound solutions for their customers.”

HP and the environment

For decades HP has been an environmental leader, driving company stewardship through its HP Eco Solutions program, which spans product design, reuse and recycling as well as energy and resource efficiency. HP influences industry action by setting high environmental standards in its operations and supply chain, by providing practical solutions to make it easier for customers to reduce their climate impact and through its research on sustainability solutions that support a low-carbon economy. More information is available at http://www.hp.com/ecosolutions.

About HP

HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP is available at http://www.hp.com/.

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This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2008. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2009 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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