Press Release

HOUSTON, July 16 /PRNewswire-FirstCall/ -- Halliburton (NYSE: HAL) announced today that Doug Foshee has resigned as executive vice president and chief operating officer to become president and chief executive officer of El Paso Corporation (NYSE: EP).

"Halliburton is a great company and it has been an honor to be part of its leadership team," said Foshee. "I believe Halliburton is the premier company in its industry with significant competitive advantages including outstanding management depth."

"We regret Doug's decision to resign, as he has added significant value to the company during the past two years," said Dave Lesar, chairman, president and chief executive officer of Halliburton. "Doug has been instrumental in helping Halliburton manage through its asbestos difficulties. We will miss him, and wish him the very best as he pursues his new endeavor."

Halliburton does not plan to fill the COO position. The strong management teams of the business groups, led by John Gibson, president and CEO of Halliburton's Energy Services Group, and Randy Harl, president and CEO of KBR, will report directly to Dave Lesar.

Foshee joined Halliburton as executive vice president and chief financial officer in August 2001 and was named executive vice president and chief operating officer in March 2003.

Halliburton, founded in 1919, 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 Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com .

SOURCE Halliburton