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<CAPTION>
- ---------------- U.S. SECURITIES AND EXCHANGE COMMISSION ----------------------------
|F O R M 3| Washington, D.C. 20549 | OMB APPROVAL |
- ---------------- |--------------------------|
INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0104|
|Expires: September 30,1998|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated ave. burden |
Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
|1.Name and Address of Reporting Person* |2.Date of Event |4.Issuer Name and Ticker or Trading Symbol |
| | Requiring Statement | |
|Elias Howard D | (Month/Day/Year) | Compaq Computer Corporation (CPQ) |
| | | |
|----------------------------------------| |-----------------------------------------------------------------|
| (Last) (First) (MI)| 05/05/2000 |5.Relationship of Reporting Person to |6.If Amendment, Date of |
| | | Issuer (Check all Applicable) | Original (Mon/Day/Year)|
| 20555 SH 249 | | | |
| M/C 110701 |-----------------------| Director 10% Owner | |
| |3.IRS or Soc. Sec. No. |--- --- |-------------------------|
|----------------------------------------| of Reporting Person | |7.Individual or Joint/ |
| (Street) | (Voluntary) | X Officer Other | Group Filing |
| | |---(give title below)---(Specify below)| (Check Applicable Line)|
| | | | X Form filed by One |
|Houston TX 77070 | | Vice President |--- Reporting Person |
| | | | Form filed by More |
| | | |--- than Reporting Person|
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security (Instr. 4) |2.Amount of Securities |3.Ownership |4.Nature of Indirect Beneficial |
| | Beneficially Owned | Form: | Ownership (Instr. 5) |
| | (Instr. 4) | Direct (D) | |
| | | or Indirect | |
| | | (I)(Instr.5)| |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
|<S> |<C> |<C> |<C> |
| | | | |
|Common Stock | 2,000 | I | By Spouse |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1473 (7-96)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
PAGE: 1 OF 2
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<CAPTION>
FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
- -----------------------------------------------------------------------------------------------------------------------------------
|1.Title of |2.Date Exercisable and |3.Title and Amount of Underlying |4.Conversion or |5. |6.Nature of |
| Derivative | Expiration Date | Derivative Security (Instr. 4) | Exercise Price |Own. | Indirect |
| Security | (Month/Day/Year) | | of Derivative |Form | Beneficial |
| (Instr. 4) | | | Security |of | Ownership |
| | | | |Deri.| (Instr. 5) |
| | | | |Sec. | |
| | | | |Dir. | |
| | | | |(D) | |
| |-----------------------------|--------------------------------------| |or | |
| |Date |Expiration | |Amount or Number | |Ind. | |
| |Exercisable |Date | Title |of Shares | |(I) | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|Stock Option | 09/14/1995 | 08/13/2005 |Common Stock | 6,164 | $21.4400 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 09/14/1995 | 08/13/2005 |Common Stock | 13,721 | $21.4400 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 01/14/1996 | 12/13/2005 |Common Stock | 19,885 | $30.9300 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 09/21/1996 | 08/20/2006 |Common Stock | 29,828 | $18.9800 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 09/20/1997 | 08/19/2007 |Common Stock | 49,713 | $23.4800 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 09/20/1998 | 08/19/2008 |Common Stock | 20,000 | $35.8800 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 02/28/1999 | 01/27/2009 |Common Stock | 50,000 | $47.1900 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 05/19/1999 | 04/18/2009 |Common Stock | 60,000 | $22.7500 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 01/08/2000 | 12/07/2009 |Common Stock | 80,000 | $25.1300 | D | |
|(Right to buy) | (01) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
| | | | | | | | |
- ----------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
(01) This option first exercisable one month from grant date, vests over sixty months from grant date.
**Intentional misstatements or omissions of facts constitute Federal /s/ Howard D. Elias 05/15/2000
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------------------ ---------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (7-96)
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMD Number.
Elias, Howard D. Compaq Computer Corporation 05/05/2000 PAGE: 2 OF 2
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<PAGE>
Confirming Statement
This statement confirms that the undersigned has authorized and designated
Either of Linda S. Auwers or Sherry L. Walker (each individually, the
"Authorized Person") to execute and file on the undersigned's behalf Forms
4 and Forms 5 (including any amendments thereto) that the undersigned may
be required to file with the United States Securities and Exchange Commission
as a result of the undersigned's ownership of or transactions in securities
of Compaq Computer Corporation. The authority of the Authorized Person
under this Statement shall continue until the undersigned is no longer
required to file Forms 4 and Forms 5 with regard to the undersigned's
ownership of or transactions in securities of Compaq Computer Corporation,
unless earlier revoked in writing. The undersigned acknowledges that
the Authorized Person is not assuming nor is Compaq Computer Corporation
assuming any of the undersigned's responsibilities to comply with Section
16 of the Securities and Exchange Act of 1934.
/s/ Howard D. Elias
_________________________
Howard D. Elias
Dated: May 11, 2000
