Press Release

DALLAS--(BUSINESS WIRE)--Oct. 22, 2001--

Joint Offering Combines Consulting, Data Management, Applications

            Hosting and Outsourcing to Reap New Value From
                 Industry's Operations and Processes

Halliburton (NYSE:HAL) and Accenture (NYSE:ACN) today announced a major expansion of their long-standing relationship with the signing of an alliance between Accenture and Landmark Graphics Corporation, a wholly owned business unit of Halliburton.

Under the alliance, Landmark, the world's leading supplier of software and services for the upstream oil and gas industry, and Accenture, the leading global provider of consulting and technology services, will join forces to help the upstream oil and gas industry reap new efficiencies from its vast global complex of processes, operations and computer systems. The pairing is a rarity in its scale and breadth of expertise: it combines industry-focused skills in consulting, data management, applications hosting and outsourcing and spans more than 100 countries.

With the new alliance, Landmark and Accenture will aim at increasing production revenue and paring the billions of dollars in operational costs incurred by the upstream oil and gas industry. The two companies will focus initially on five critical operational issues for industry executives today: integration of technical applications and business analysis, better decision-making through virtual collaboration, effective process management by using a common workflow structure, effective knowledge management and outsourcing to enable executives to focus on their core businesses.

"Given our strong relationship with Accenture and the alignment of our skills with industry need, it makes tremendous business sense for us to offer our combined strengths in an integrated fashion to the market," said Dave Lesar, chairman, president and CEO of Halliburton. "Exploration and production companies are looking for ways to increase shareholder value and reduce finding and lifting costs. To accomplish this, they'll need to make a significant investment - not just in new technologies, but also in new ways of doing business. Consequently, there's a growing need for a comprehensive, integrated services and technology offering that Landmark and Accenture can fulfill by working together."

"This alliance brings the best of Accenture and Landmark together to help the upstream oil and gas industry achieve new levels of productivity and growth," said Joe Forehand, chairman and CEO of Accenture. "Moreover, by growing our relationship with Halliburton into an opportunity to serve the industry as a whole, it's an opportunity for us to go beyond the traditional patterns in professional services and create new value for our clients through innovative relationships."

"The E&P industry is being challenged by the technology options before them today. The oil and gas companies know they have to move quickly to stay ahead of the pack, but there's real concern about making the right choices and ensuring a high return on investment," said John Gibson, president and CEO of Landmark. "At the same time, they don't want to be locked into a monolithic, one-size fits all approach. The in-depth, market-leading service offering that this alliance brings to the table makes it possible to customize our leading technology solutions to fit their specific needs."

Under the new alliance, Accenture will provide its world-class capabilities in business transformational outsourcing, consulting and overall program management. Landmark will deliver its services through GrandBasin, Landmark's application services and data services provider. The alliance will leverage GrandBasin's hosted applications and data management offerings. The companies will also work together on sales and marketing activities to promote the new alliance and its offerings.

The new alliance represents a significant new extension of a relationship between Halliburton and Accenture that started with an information technology-outsourcing project in 1994. Over the years, the two companies have enjoyed a close working relationship as Halliburton has sought Accenture's help on a wide range of projects. The new alliance between Accenture and Landmark will mark the first time the two companies have extended this relationship to include consulting services across the entire E&P arena.

About Halliburton

Halliburton Company, founded in 1919, is the world's largest provider 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.

About Landmark Graphics Corporation

Landmark is the leading supplier of software and services for the upstream oil and gas industry. The company's software solutions span exploration, production, drilling, business decision analysis and data management. Landmark offers a broad range of consulting services that enable customers to optimize their technical, business and decision processes. Visit the Landmark Web site at www.lgc.com for more information.

About GrandBasin

GrandBasin is the leading-edge service provider for data and application hosting in the upstream industry, delivering anywhere, anytime access to the latest analytical knowledge management tools in highly flexible customer-driven configurations. Service offerings include real-time access to Web-based applications and hosting services and the PetroBank family of comprehensive data management technologies and integration services. The flexibility and openness of the GrandBasin business model enables customers to configure a Web-enabled technology and service solutions that is right for them in order to reach their peak performance. Additional information is available at www.grandbasin.com.

About Accenture

Accenture is the world's leading provider of management and technology consulting services and solutions, with more than 75,000 people in 46 countries delivering a wide range of specialized capabilities and solutions to clients across all industries. Accenture operates globally with one common brand and business model designed to enable the company to serve its clients on a consistent basis around the world. Under its strategy, Accenture is building a network of businesses to meet the full range of any organization's needs -- consulting, technology, outsourcing, alliances and venture capital. Its Web site is www.accenture.com.

Landmark and the Landmark logo are trademarks or registered trademarks of Landmark Graphics Corp. All other trademarks, service marks and product or service names are the trademarks or names of their respective owners.

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