Press Release

HOUSTON--(BUSINESS WIRE)--Oct. 25, 2002--Halliburton issued a strong legal response to a lawsuit filed last summer by the Washington political group Judicial Watch. Attorneys for the company asked the federal court to dismiss the suit stating that the group's complaints were "naked allegations" that are untrue and unsupported by any facts presented in the court action. The company also argued that the federal court had no jurisdiction in the case.

When the original action was filed in July, the company issued a statement from its chief financial officer Doug Foshee saying that the Judicial Watch claims were "untrue, unsupported and unfounded." Friday, Mr. Foshee reiterated that the company follows guidelines established by the SEC and GAAP, Generally Accepted Accounting Principles.

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.