What is it?
HPPrint.exe is an application used commonly by the HP brand printer software
Virus risk?
Unfortunately this file is associated with the W32.Spybot.DNB worm
What does it do?
W32.Spybot.DNB is a worm that may be remotely controlled via IRC
channels. The worm has the ability to perform distributed denial of
service (DDoS) attacks and open a backdoor on the infected computers.
It also attempts to steal CD keys from some computer games.
More info and removal instructions @symantec