Table 6			HP Financing & Investments							Nov-06
				(Fiscal year end: Oct 31)
			2006e	% of	Change	2005	% of	Change	2004	% of
			($ Mill)	Rev	05/04	($ Mill)	Rev	05/04	($ Mill)	Rev
Revenue			3%			3%			3%
Business Segments (est)
	Americas		$880	44.0%	-6.4%	$940	44.0%	10.6%	$850	44.0%
	EMEA		$800	40.0%	-5.9%	$850	40.0%	10.4%	$770	40.0%
	Asia/Pacific		$324	16.2%	-5.2%	$342	16.1%	13.7%	$301	15.7%
			$2,004			$2,132			$1,921
Total Revenue			$2,527	100.2%	-4.8%	$2,655	100.1%	12.0%	$2,370	99.7%
Corp Investments (incl. above)			$523			$523			$449
	4Q06 Actual		$705		7.5%	$656
Costs
Cost of Revenue			$1,820	72.0%	-0.5%	$1,830	69.0%	5.2%	$1,740	73.5%
Cost of Corp Investments			$697			$697			$628
Total Costs			$2,517	99.6%	-0.4%	$2,527	95.2%	6.7%	$2,368	99.9%
Gross Profit/Margin			$10	0.4%	-91.9%	$128	4.8%	6315.5%	$2	0.1%
Expenses
Sales, General & Marketing			$30	1.0%	0.0%	$30	1.0%	-40.0%	$50	2.0%
Restr. Charges (apportioned)			$47			$52
Research & Development
Total Expenses			$77	0.0%	-5.9%	$82	0.0%	63.2%	$50	0.0%
Operating Profit (Loss)			($66)	-2.6%	-242.1%	$47	1.8%	-197.4%	($48)	-2.0%
as reported (incl. corp invest)								-100.0%	($54)	-2.3%
	4Q06 Actual		$39	5.5%	-32.8%	$58	8.8%
Other Income (Loss)			($5)	-0.2%	0.0%	($5)	-0.2%	-27.7%	($7)	-0.3%
Income (Loss) Before Tax			($71)	-2.8%	-271.1%	$42	1.6%	-176.0%	($55)	-2.3%
Income Tax (Benefit)				20.3%			20.3%			16.7%
Net Income (Loss)			($71)	-2.8%	-271.1%	$42	1.6%	-176.0%	($55)	-2.3%
Earnings per share (basic)		2.74	(0.03)			0.02			(0.02)
				Pro Forma Valuation
		P/E Ratio	Rev Ratio	Market Cap (est.)			Spin-off	Actual
				P/E	Rev	Combined	Benefit	(11/16/06)
Industry Segment Avg		14.50	2.20	($1.04)	$5.56	$2.26
HP Corp Act Prorated		23.46	1.22	($1.68)	$3.08	$2.80		$100.69
HP Fin & Inv			1.00		$2.53	$2.53	($0.27)
	Source: Annex Research