<SUBMISSION>
<ACCESSION-NUMBER>0000950129-05-003757
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20050418
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20050418
<DATE-OF-FILING-DATE-CHANGE>20050418
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BAKER HUGHES INC
<CIK>0000808362
<ASSIGNED-SIC>3533
<IRS-NUMBER>760207995
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09397
<FILM-NUMBER>05755396
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3900 ESSEX LANE
<CITY>HOUSTON
<STATE>TX
<ZIP>77027
<PHONE>7134398600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3900 ESSEX LAND
<CITY>HOUSTON
<STATE>TX
<ZIP>77210
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h24388e8vk.htm
<DESCRIPTION>BAKER HUGHES INCORPORATED - APRIL 18, 2005
<TEXT>
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<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>

<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of The Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt"><B>Date of Report </B>(Date of earliest event reported): &nbsp;<B>April&nbsp;18, 2005 </B>(April&nbsp;15, 2005)


<P align="center" style="font-size: 24pt"><B>Baker Hughes Incorporated</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in charter)</DIV>


<DIV align="center">
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    <TD width="31%">&nbsp;</TD>
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    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-9397</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>76-0207995</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File No.)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>3900 Essex Lane, Houston, Texas</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>77027</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>Registrant&#146;s telephone number, including area code: (713)&nbsp;439-8600</B>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="60%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(former name or former address, if changed since last report)</DIV>


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:



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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>


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    <TD width="99%"></TD>
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<TR valign="top">
    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>


<P>
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    <TD width="1%"></TD>
    <TD width="99%"></TD>
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<TR valign="top">
    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>


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    <TD width="99%"></TD>
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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>









<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<!-- link2 "Item&nbsp;2.02 Results of Operations and Financial Condition." -->

<P align="left" style="font-size: 10pt"><B>Item&nbsp;2.02 &nbsp;Results of Operations and Financial Condition.</B>


<P align="left" style="font-size: 10pt">On April&nbsp;15, 2005, Baker Hughes Incorporated (the &#147;Company&#148;) issued a news release announcing that
it had updated its outlook for the first quarter of 2005, raising its expectations for income from
continuing operations per diluted share for the first quarter of 2005 to between $0.52 and $0.53, a
copy of which is furnished with this Form 8-K as Exhibit&nbsp;99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information shall not be deemed
&#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended,
except as shall be expressly set forth by specific reference in such a filing.


<!-- link2 "Item&nbsp;7.01 Regulation&nbsp;FD Disclosure." -->

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01 &nbsp;Regulation&nbsp;FD Disclosure.</B>


<P align="left" style="font-size: 10pt">On April&nbsp;15, 2005, the Company issued a news release, a copy of which is furnished with this Form
8-K as Exhibit&nbsp;99.1 and incorporated into this Item&nbsp;7.01 by reference. In accordance with General
Instruction B.2 of Form 8-K, the information shall not be deemed &#147;filed&#148; for purposes of Section&nbsp;18
of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly
set forth by specific reference in such a filing.


<P align="left" style="font-size: 10pt">Also, see Item&nbsp;2.02, &#147;Results of Operations and Financial Condition.&#148;


<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 &nbsp;Financial Statements and Exhibits.</B>


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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(c)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Exhibits.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">99.1 News Release of Baker Hughes Incorporated dated April&nbsp;15, 2005.</TD>
</TR>
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<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


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<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">BAKER HUGHES INCORPORATED<BR>
&nbsp;</TD></TR>

<TR>
    <TD>&nbsp;</TD></TR>

<TR>
    <TD align="left">Dated: April 18, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="center">/s/Sandra E. Alford
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">Sandra E. Alford&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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    <TD nowrap align="left"><u>Exhibit No.</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><u>Description</u></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
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</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">News Release dated April&nbsp;15, 2005.</TD>
</TR>
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</DIV>


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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>h24388exv99w1.htm
<DESCRIPTION>NEWS RELEASE
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;99.1

<P align="right" style="font-size: 10pt"><IMG src="h24388h2438847.gif" alt="(BAKER HUGHES NEWS RELEASE LOGO)">

<P align="left" style="font-size: 12pt">Baker Hughes Updates First Quarter Outlook

<P align="left" style="font-size: 10pt">HOUSTON, Texas &#150;
April&nbsp;15, 2005. Baker Hughes Incorporated (BHI &#150; NYSE) today updated its
outlook for the first quarter of 2005, raising its expectations for income from continuing
operations per diluted share for the first quarter of 2005 to between $0.52 and $0.53.


<P align="left" style="font-size: 10pt">The company is continuing to review its preliminary results for the first quarter of 2005 and its
outlook for the balance of the year. The company expects to increase its guidance for the full
year when it releases additional details on its first quarter of 2005 results and conducts a
conference call on April&nbsp;27, 2005.


<P align="left" style="font-size: 10pt">Chad C. Deaton, Baker Hughes chairman and chief executive officer, said, &#147;The results for the first
quarter of 2005 reflect pricing improvement, favorable geographic and product mix changes, and
stronger than expected customer activity. Activity was stronger than we expected in the United
States and Russia, weaker than expected in Canada and somewhat above our expectations in the rest
of the world. In addition, corporate and other expenses excluding interest expense were less than
expected, also contributing to the improved outlook for the first quarter results. We expect market
conditions to remain favorable for both additional revenue growth and price improvements over the
balance of the year.&#148;



<P align="left" style="font-size: 10pt"><B><I>Earnings Announcement and Conference Call</I></B>


<P align="left" style="font-size: 10pt">The company has scheduled a conference call on Wednesday, April&nbsp;27, 2005 at 8:30 a.m. eastern, 7:30
a.m. central, to discuss results for the first quarter of 2005, ending March&nbsp;31, 2005. The results
for the first quarter of 2005, including updated guidance for fiscal year 2005, are expected to be
released on Wednesday, April&nbsp;27, 2005, before the market opens. To access the call, which is open
to the public, please call the conference call operator at 800-374-2469, 20 minutes prior to the
scheduled start time and ask for the &#147;Baker Hughes Conference Call.&#148; A replay will be available
through Wednesday, May&nbsp;11, 2005. The number for the replay is 706-645-9291; the access code is
4835753. The conference call and replay will be web cast by CCBN. To access the web cast, go to
http://www.bakerhughes.com/investor and select &#147;News Releases,&#148; then click on &#147;Conference Calls.&#148;
Investors can automatically receive Baker Hughes e-mail alerts when news releases are posted to the
company&#146;s internet site. To subscribe,



<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">go to http://www.bakerhughes.com/investor and choose &#147;News Releases&#148; and then &#147;E-Mail Alerts.&#148;

<P align="left" style="font-size: 10pt"><B><I>Forward-Looking Statements</I></B>

<P align="left" style="font-size: 10pt">This news release (and oral statements made regarding the subjects of this release, including on
the conference call announced herein) contain forward-looking statements within the meaning of
Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange
Act of 1934, as amended, (each a &#147;forward-looking statement&#148;). The words &#147;expect,&#148; &#147;believe,&#148;
&#147;will,&#148; and similar expressions are intended to identify forward-looking statements. There are
many risks and uncertainties that could cause actual results to differ materially from the
preliminary estimates in our forward-looking statements. These forward-looking-statements are also
affected by the risk factors described in the Company&#146;s Annual Report on Form 10-K for the year
ended December&nbsp;31, 2004 and those set forth from time to time in our filings with the Securities
and Exchange Commission. The documents are available through the Company&#146;s web site or through the
SEC&#146;s Electronic Data Gathering and Analysis Retrieval System (EDGAR)&nbsp;at www.sec.gov. We undertake
no obligation to publicly update or revise any forward-looking statement. Our expectations
regarding our business outlook, including changes in our revenue, capital spending and
profitability; oil and gas market conditions specific to our business; pricing, market share and
contract terms; costs and availability of resources; changes in laws or regulatory conditions;
economic conditions; and environmental matters are only forecasts regarding these matters.


<P align="left" style="font-size: 10pt">These forecasts may be substantially different from actual results, which are affected by the
following risk factors and the timing of any of those risk factors:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Changes to forecast in earnings release &#150; </I>the financial information and forecasts
presented in this news release (and oral statements made regarding the subjects of this
release) may be subject to adjustment based on the preparation of consolidated financial
statements for the first quarter of 2005; additional details regarding the performance of
the Company for the first quarter of 2005 and forecasts regarding future periods will be
included in the Company&#146;s earnings release scheduled to be made on April&nbsp;27, 2005, which
additional details may impact the information and forecasts provided in this news release.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Oil and gas market conditions </I>&#150; the level of petroleum industry exploration and
production expenditures; drilling rig and oil and natural gas industry manpower and
equipment availability; the price of, and the demand for, crude oil and natural gas;
drilling activity; seasonal and other weather conditions that affect the demand for
energy; severe weather conditions, such as hurricanes, that affect exploration and
production activities; OPEC policy and the adherence by OPEC nations to their OPEC
production quotas; war, military action, terrorist activities or extended period of
international conflict, particularly involving the U.S., Middle East or other major
petroleum&#150;producing or consuming regions; civil unrest or security conditions where we
operate; expropriation of assets by governmental action.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Pricing, market share and contract terms </I>&#150; our ability to implement and affect price
increases for our products and services; receipt of license fees; the effect of the level
and sources of our profitability on our tax rate; the ability of our competitors to
capture market share; our ability to retain or increase our market</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>share; changes in our strategic direction; our ability to negotiate acceptable terms and
conditions with our customers, especially national oil companies.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Costs and availability of resources &#150; </I>our ability to manage the rising costs and
availability of sufficient raw materials and components (especially steel alloys, copper
and chemicals); our ability to recruit, train and retain the skilled and diverse workforce
necessary to meet our business needs; manufacturing capacity and subcontracting capacity
at forecasted costs to meet our revenue goals; the availability of essential electronic
components used in our products; the effect of competition, particularly our ability to
introduce new technology on a forecasted schedule and at forecasted costs; potential
impairment of long&#150;lived assets; the accuracy of our estimates regarding our capital
spending requirements; unanticipated changes in the levels of our capital expenditures;
the need to replace any unanticipated losses in capital assets; the development of
technology by us or our competitors that lowers overall finding and development costs;
labor&#150;related actions, including strikes, slowdowns and facility occupations.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Changes in laws or regulatory conditions </I>&#150; the legislative, regulatory and business
environment in the U.S. and other countries in which we operate; outcome of government and
internal investigations and legal proceedings; new laws, regulations and policies that
could have a significant impact on the future operations and conduct of all businesses;
changes in export control laws or exchange control laws; additional restrictions on doing
business in countries subject to sanctions: changes in laws in Russia or other countries
identified by management for immediate focus; changes in accounting standards; changes in
tax laws or tax rates in the jurisdictions in which we operate; resolution of audits by
various tax authorities; ability to fully utilize our tax loss carryforwards and tax
credits.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Economic conditions </I>&#150; worldwide economic growth; foreign currency exchange fluctuations
and changes in the capital markets in international locations where we operate; the
condition of the capital and equity markets in general.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD><I>Environmental matters </I>&#150; unexpected, adverse outcomes or material increases in liability
with respect to environmental remediation sites where we have been named as a potentially
responsible party; the discovery of new environmental remediation sites; changes in
environmental regulations; the discharge of hazardous materials or hydrocarbons into the
environment.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">Baker Hughes is a leading provider of<BR>
drilling, formation evaluation, completion and production<BR>
products and services to the worldwide oil and gas industry.



<P align="center" style="font-size: 10pt">****



<P align="center" style="font-size: 10pt">NOT INTENDED FOR BENEFICIAL HOLDERS




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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end
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