HEWLETT-PACKARD RESPONDS TO MIKE LYNCH’S OPEN LETTER

(The following is a reformatted version of a statement
issued by Hewlett-Packard, received via e-mail and confirmed by
the sender.) 
HP has initiated an intense internal investigation into a series
of accounting improprieties, disclosure failures and outright
misrepresentations that occurred prior to HP’s acquisition of
Autonomy.  We believe we have uncovered extensive evidence of a
willful effort on behalf of certain former Autonomy employees to
inflate the underlying financial metrics of the company in order
to mislead investors and potential buyers. 
The matter is in the hands of the authorities, including the UK
Serious Fraud Office, the US Securities and Exchange
Commission’s Enforcement Division and the US Department of
Justice, and we will defer to them as to how they wish to engage
with Dr. Lynch.  In addition, HP will take legal action against
the parties involved at the appropriate time. 
While Dr. Lynch is eager for a debate, we believe the legal
process is the correct method in which to bring out the facts
and take action on behalf of our shareholders.  In that setting,
we look forward to hearing Dr. Lynch and other former Autonomy
employees answer questions under penalty of perjury. 
(sgp) NY 
#<278855.14078.3.1.0.0.76>#
 
 
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