-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RhAV8T56Jav/LvXn9BM9Kgw4sOUB8mPwQjJ5vj63pd0zuOUfhs7g2H/qgO8cZMvF
 2HGI1NdZRZ7fSbWxyDWR1Q==

<SEC-DOCUMENT>0001012870-98-002228.txt : 19980824
<SEC-HEADER>0001012870-98-002228.hdr.sgml : 19980824
ACCESSION NUMBER:		0001012870-98-002228
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980821
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HEWLETT PACKARD CO
		CENTRAL INDEX KEY:			0000047217
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		IRS NUMBER:				941081436
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		
		SEC FILE NUMBER:	333-44113
		FILM NUMBER:		98695978

	BUSINESS ADDRESS:	
		STREET 1:		3000 HANOVER ST
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
		BUSINESS PHONE:		4158571501

	MAIL ADDRESS:	
		STREET 1:		3000 HANOVER ST
		STREET 2:		MS 20BQ
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>424B3 FOR HEWLETT PACKARD
<TEXT>

<PAGE>
 
                                              Filed Pursuant to Rule 424(b)(3)
                                                    Registration No. 333-44113

 
                           HEWLETT-PACKARD COMPANY
          Liquid Yield Option/TM/ Notes due 2017 (the "LYONs/TM/")
     Sales from CUSIP No. 428236AA1 or U42823AK7 (Unregistered LYONs) to
                   CUSIP No. 428236 AC7 (Registered LYONs)


                 Security Holder (the "Holder") Information
                 ------------------------------------------

The following sets forth information with respect to the Holder of LYONs who is
proposing to sell.


1.   Full legal name of the Holder:

     Smith Barney Inc.
     __________________________


2.   The aggregate principal amount at maturity of LYONs owned by the Holder:

     $10,000,000
      ___________________
 

3.   The aggregate principal amount at maturity of LYONs hereby offered for the
     Holder's account:

     $10,000,000
      ___________________


4.   The aggregate principal amount at maturity of LYONs and (if one percent or
     more) the percentage of the outstanding principal amount at maturity of the
     LYONs to be owned by the Holder upon completion of this offering:

     $0
      ___________________


     %   N/A
      ______________________


5.   Any position, office or other material relationship of the Holder (other
     than as a customer) with Hewlett-Packard Company (the "Company") or any of
     its predecessors or affiliates in the past three years:


         N/A
______________
/TM/ Trademark of Merrill Lynch & Co., Inc.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
