HP Wins Application Management Outsourcing Deal with German Firm MLP

PALO ALTO, Calif.--(Business Wire)--
HP (NYSE: HPQ) today announced a six-year applications management outsourcing
deal with MLP, an independent financial services and wealth management
consulting company in Germany, that will enable MLP to increase business
development.

The agreement reduces MLP`s financial risk by offering pay-per-use pricing and
increases the company`s flexibility to respond to changing business priorities
with adjustable service levels. In addition, HP will help MLP reduce costs by
standardizing technology processes and leveraging a global delivery model.

MLP also extended its existing infrastructure technology agreement for
management of three data centers, network devices, distributed servers, Lotus
Notes messaging and end-user PCs to 2015.

Under the new applications management contract, HP will manage key applications
that support sales, customer service and the design of new products. These
include MLP`s SAP applications and the customer relationship management that is
part of its broker platform, as well as its business intelligence, document
management and custom JavaTM applications. Additionally, HP will be responsible
for the complete life cycle management of the applications, from development to
implementation, including quality assurance and operations.

"With the new contract, we are able to focus our IT assignments close to the
core of our businesses," said Klaus Strumberger, chief information officer, MLP.
"Thanks to the modularity and flexible pricing of these services, we will be
able to reduce risk while improving our ability to adapt to changing business
needs."

HP`s current infrastructure agreement is based on the concept of utility
pricing, where services are bundled and invoiced on a pay-per-use model. This
same model will be used for the applications management deal. This will allow
MLP to quickly scale infrastructure and applications up or down to meet changing
business requirements.

"In order to shift its focus and resources to more strategic innovation, MLP
needed technology as a service," said Bill Thomas, senior vice president and
general manger of the Europe, Middle East and Africa region at EDS, an HP
company. "This new applications management agreement delivers an end-to-end
solution enabling MLP to simplify its technology operations and realize a higher
return on its investments."

About MLP

MLP is the leading independent financial and investment adviser for academics
and other discerning clients. The company integrates a multitude of products and
services of various banks, insurance and investment companies to offer a
financial concept that is tailored to the requirements of each individual
client. MLP clients benefit from a holistic advisory approach covering all
economic aspects that is guided by their particular requirements at their
respective stages in life. MLP has around 250 branches in Germany, where around
2,400 consultants support and advise 780,000 clients. MLP holds a full banking
licence and together with the MLP Group company Feri Finance AG, manages assets
of around 12 billion Euro - making the company the leading independent
asset-gatherer in Germany.

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/.

Note to editors: More news from HP, including links to RSS feeds, is available
at http://www.hp.com/hpinfo/newsroom/.

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© 2009 Hewlett-Packard Development Company, L.P. The information contained
herein is subject to change without notice. The only warranties for HP products
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omissions contained herein.

HP
Jennifer Harbour, +1 281-518-9632
jennifer.harbour@hp.com
or
HP
Jos Baltes, +31 6 5249 4733
jos.baltes@hp.com
or
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