1090872--12/19/2008--AGILENT_TECHNOLOGIES

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{product, market, service}

{operation, international, foreign}

{condition, economic, financial}

{property, intellectual, protect}

{regulation, change, law}

{acquisition, growth, future}

{regulation, government, change}

{loss, insurance, financial}

{cost, regulation, environmental}

{product, liability, claim}

{operation, natural, condition}

{debt, indebtedness, cash}

{system, service, information}

{personnel, key, retain}

{customer, product, revenue}

Risks, Uncertainties and Other Factors That May Affect Future Results Declining general economic conditions and uncertainties in the global credit and equity markets may adversely affect our operating results and financial condition. Our operating results and financial condition could be harmed if the markets into which we sell our products decline or do not grow as anticipated. The actions that we have taken in order to reduce costs could have long-term adverse effects on our business. If we do not introduce successful new products and services in a timely manner, our products and services will become obsolete, and our operating results will suffer. Dependence on contract manufacturing and outsourcing other portions of our supply chain may adversely affect our ability to bring products to market and damage our reputation. Dependence on outsourced information technology and other administrative functions may impair our ability to operate effectively. Failure to adjust our purchases due to changing market conditions or failure to estimate our customers' demand could adversely affect our income. Our income may suffer if our manufacturing capacity does not match the demand for our products. Economic, political and other risks associated with international sales and operations could adversely affect our results of operations. Our business will suffer if we are not able to retain and hire key personnel. The impact of consolidation of competitors in the test and measurement market is difficult to predict and may harm our business. Our acquisitions, strategic alliances, joint ventures and divestitures may result in financial results that are different than expected. Environmental contamination from past operations could subject us to unreimbursed costs and could harm on-site operations and the future use and value of the properties involved and environmental contamination caused by ongoing operations could subject us to substantial liabilities in the future. Our customers and we are subject to various governmental regulations, compliance with which may cause us to incur significant expenses, and if we fail to maintain satisfactory compliance with certain regulations, we may be forced to recall products and cease their manufacture and distribution, and we could be subject to civil or criminal penalties. We are subject to laws and regulations, and failure to address or comply with these laws and regulations could harm our business by leading to a reduction in revenue associated with these customers. Third parties may claim that we are infringing their intellectual property and we could suffer significant litigation or licensing expenses or be prevented from selling products or services. Third parties may infringe our intellectual property and we may suffer competitive injury or expend significant resources enforcing our rights. We have received a Revenue Agent's Report from the U.S. Internal Revenue Service for fiscal years 2000 through 2002 claiming a significant increase in our U.S. taxable income. An adverse outcome of this examination or any future examinations involving similar claims could have a material adverse effect on our results of operations, financial condition and liquidity. Adverse conditions in the global banking industry and credit markets may adversely impact the value of our cash investments or impair our liquidity. We have issued $600 million in a debt offering and entered into a credit facility and may incur other debt in the future, which could adversely affect our financial condition, liquidity and results of operations. Our results of operations, financial condition and liquidity could be adversely affected if our long-term leasehold counterparty becomes insolvent and the credit support on the leasehold transaction fails. We have substantial cash requirements in the United States while a majority of our cash is generated outside of the United States. The failure to maintain a level of cash sufficient to address our cash requirements in the United States could adversely affect our financial condition and results of operations. If we suffer a loss to our factories, facilities or distribution system due to catastrophe, our operations could be seriously harmed.

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1090872--12/19/2008--AGILENT_TECHNOLOGIES_INC