Press Release

DALLAS, Feb 22, 2002 /PRNewswire-FirstCall via COMTEX/ -- Halliburton Company (NYSE: HAL) today announced that yesterday, February 21, 2002, the U.S. Bankruptcy Court that issued a temporary restraining order on February 14, 2002 staying more than 200,000 pending asbestos claims against Halliburton's subsidiary Dresser Industries, Inc. has extended the time period of such stay until April 4, 2002. On April 4, the Court will hold a hearing to decide if the stay will continue in place or be modified. For more details on the stay entered by the Court on February 14, 2002, Halliburton refers to its earlier press release of the same date.

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction business segments. The company's World Wide Web can be accessed at www.halliburton.com .

SOURCE Halliburton Company

CONTACT: public relations, Wendy Hall, +1-713-676-5227, or investor relations, Cedric Burgher, +1-713-676-4933, both of Halliburton Company