AGILENT EXPECTS TO EXCEED GUIDANCE FOR 1ST QTR RESULTS.

Agilent Technologies Inc. (NYSE:A), Palo Alto. Calif. expects its results for the first fiscal quarter, ending Jan. 31, 2004, to be above the guidance provided in early December.

First quarter revenues are now expected to be in the range of $1.63 billion to $1.68 billion, compared to previous guidance of $1.55 billion to $1.65 billion. Earnings before restructuring and amortization charges are now anticipated to be $0.20 to $0.24 per share(1). Prior guidance was for earnings of $0.05 to $0.15 per share.

"We have not seen the normal seasonal decline in first quarter activity," said Ned Barnholt, Agilent chairman, president and chief executive officer. "Both semiconductors and semiconductor capital equipment have been particularly strong.

We have also been successful bringing the benefits of lower structural costs to Agilent's bottom line."

"While the business environment remains volatile, we currently expect Agilent's second quarter earnings before restructuring and amortization charges to be in the range of $0.20 to $0.25 per share on revenues of $1.65 billion to $1.70 billion," said Barnholt.

About Agilent Technologies

Agilent Technologies Inc. (NYSE:A) is a global technology leader in communications, electronics, life sciences and chemical analysis. The company's 28,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6.1 billion in fiscal year 2003. Information about Agilent is available on the Web at http://www.agilent.com.

Amortization of intangibles is expected to be about $10 million for Q1 and $5 million for Q2. Pro forma tax rate is assumed to be about 31 percent. GAAP tax rate cannot be reliably estimated.

For more information, call 650/752-5296 or visit http://www.agilent.com.