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Table 5				HP Software						Nov-05
				(Fiscal year end: Oct 31)
			2005	% of	Change	2004	% of	Change	2003	% of
			($ Mill)	Rev	05/04	($ Mill)	Rev	04/03	($ Mill)	Rev
_	_	_	_	_	_	_	_	_	_	_
Revenue			1%			1%			1%
Business Segments (est)
	OpenView		$700	64.5%	19.7%	$585	62.7%	17.0%	$500	64.0%
	OpenCall & Other		$380	35.2%	9.2%	$348	37.3%	23.8%	$281	36.0%
Total Revenue			$1,080	99.7%	15.8%	$933	100.0%	19.5%	$781	100.0%
	4Q05 Actual		$311		11.1%	$280
Costs
Cost of Revenue			$560	52.0%	9.8%	$510	55.0%	41.7%	$360	46.0%
One-time Charges
Total Costs			$560	51.9%	9.8%	$510	54.7%	41.7%	$360	46.1%
Gross Profit/Margin			$520	48.1%	22.9%	$423	45.3%	0.5%	$421	53.9%
Expenses
Sales, General & Marketing			$380	35.0%	0.0%	$380	41.0%	40.7%	$270	34.0%
Restr. Charges (apportioned)			$21			$9			$9
Research & Development			$180	17.0%	-5.3%	$190	20.0%	58.3%	$120	15.0%
Total Expenses			$581	53.8%	0.3%	$579	62.1%	45.3%	$399	51.0%
Operating Profit (Loss)			($61)	-5.6%	-60.9%	($156)	-16.7%	-794.9%	$22	2.9%
as reported						($156)	-16.7%	-809.1%	$22	2.8%
	4Q05 Actual		$27	8.7%	-485.7%	($7)	-2.5%
Other Income (Loss)			($5)	-0.5%	1281.3%	($0)	-0.0%	323.3%	($0)	-0.0%
Income (Loss) Before Tax			($66)	-6.1%	-57.8%	($156)	-16.8%	-799.2%	$22	2.9%
Income Tax (Benefit)				20.3%			16.7%			12.1%
Net Income (Loss)			($66)	-6.1%	-57.8%	($156)	-16.8%	-799.2%	$22	2.9%
Earnings per share (basic)		2.88	(0.02)			(0.05)			0.01
				Pro Forma Valuation
		P/E Ratio	Rev Ratio	Market Cap (est.)			Spin-off	Actual
				P/E	Rev	Combined	Benefit	(11/17/05)
Industry Segment Avg		17.00	6.00	($1.12)	$6.48	$2.68
HP Corp Act Prorated		27.72	0.95	($1.83)	$1.03	$1.03		$83.08
HP Software			2.00		$2.16	$2.16	$1.13
	Source: Annex Research
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