Press Release

HOUSTON, Sep 17, 2002 (BUSINESS WIRE) -- Magic Earth, a wholly owned subsidiary of Halliburton (NYSE:HAL), announced today that it has been awarded a contract by Petrobras, Brazil's national oil company, to provide leading-edge visualization and interpretation technology and services. The agreement, valued at close to $2 million, establishes GeoProbe(R), Magic Earth's volume visual interpretation software, as a major tool in Petrobras' exploration efforts, and confirms the Brazilian company's role as an industry leader in adopting technologies that bring innovative solutions to finding and developing hydrocarbon reserves. The contract includes services supplied by Landmark Graphics, a wholly owned business unit of Halliburton.

Under the agreement, Magic Earth will provide its hallmark technology for Petrobras' immersive visualization facilities and workstations. Petrobras will also receive training on the use of GeoProbe and the related geovolume exploration workflows designed by Magic Earth's Interpretation Consulting Services group. Landmark Graphics', Asset Performance Consulting (APC) group will provide consulting services to Petrobras.

"We are delighted to embark on this new relationship with Petrobras," remarked Michael Zeitlin, president and CEO of Magic Earth. "Magic Earth technology delivers significant improvements to the business of exploration through decreases in cycle time, improved accuracy and increased data-handling capacity. We see this agreement as a solid base upon which the two companies can continue to work together to ensure further successes in Petrobras' exploration efforts."

Petrobras is one of the world's largest integrated oil and gas companies, with business in a wide range of activities, including exploration, production and transportation of oil and gas, oil refining, distribution and marketing of gas, oil and its derived products, and energy generation. Petrobras is based in the city of Rio de Janeiro and has operations in Brazil and the rest of Latin America. It also has operations in the Gulf of Mexico and West Africa. According to the consolidated financial statements for year 2001, Petrobras is the largest company in Brazil and the third largest industrial group of Latin America. Visit the company's website at www.petrobras.com.br/ri/ingles.

Magic Earth, Inc. specializes in high-performance volume visualization and interpretation solutions including GeoProbe software, consultation services for interpretation projects, training and large-screen immersive visualization centers. For additional information about Magic Earth and GeoProbe, visit the company's website at www.magicearth.com.

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.

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.

Magic Earth and the names of Magic Earth products referenced in this press release are trademarks and service marks of Magic Earth Inc, A Halliburton Company.

CONTACT: Magic Earth, Houston Pamela Griffin, 832/200-4706 pgriffin@magicearth.com or Halliburton, Houston Beverly Scippa, 713/676-7926 beverly.scippa@halliburton.com