
FOR IMMEDIATE RELEASE                        Contact: Guy T. Marcus
February 6, 1997                                      Vice President-Inv. Rel.
                                                      (214) 978-2691

                     HALLIBURTON $125 MILLION NOTES OFFERING

     DALLAS,  Texas -- An offering of $125 million principal amount  Halliburton
Company   (NYSE-HAL)6.75%  notes  due  February  1,  2027  under  the  company's
medium-term note program was  underwritten  today by Merrill Lynch & Co., Lehman
Brothers,  Morgan Stanley & Co.  Incorporated  and NationsBanc  Capital Markets,
Inc.

     The notes were priced at 99.781%,  to yield 6.781% to  maturity.  The notes
may not be redeemed at the option of Halliburton prior to maturity.  Each holder
of the notes has the right to require the company to repay such holder's  notes,
in whole or in part, on February 1, 2007. There is no sinking fund applicable to
the notes.

     The net proceeds from the sale of the notes will be added to  Halliburton's
general  funds  and  used for  general  corporate  purposes  which  may  include
repayment of debt, acquisitions, and loans and advances to and/or investments in
subsidiaries of the company for working  capital,  repayment of debt and capital
expenditures.  If  Halliburton's  previously  announced  tender  offer  for  the
outstanding  capital stock of OGC International plc is consummated,  all or part
of the purchase  price for the shares will be funded from the net proceeds  from
the sale of the notes.

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     Halliburton  Company  is one  of the  world's  largest  diversified  energy
services, engineering, maintenance, and construction companies. Founded in 1919,
Halliburton  provides a broad range of energy services and products,  industrial
and marine engineering and construction services.


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