
FOR IMMEDIATE RELEASE                        Contact - Guy T. Marcus
July 17, 1997                                          Vice President-Inv.Rel.
                                                       (214) 978-2691

                     HALLIBURTON 1997 THIRD QUARTER DIVIDEND

     DALLAS, Texas -- Halliburton  Company's board of directors today declared a
third quarter cash dividend of 12.5 cents a share on the company's common stock,
payable September 24, 1997 to shareholders of record at the close of business on
September 3, 1997.

     Previously,   Halliburton  announced  a  two-for-one  common  stock  split,
effected in the form of a stock dividend, to shareholders of record at the close
of business on June 26, 1997.  Certificates for the new shares will be mailed on
or about July 21,  1997 and par value will  remain at $2.50 per share.  The 1997
third  quarter 12.5 cents a share cash  dividend is  equivalent to the rate paid
prior to Halliburton effecting the two-for-one common stock split.

     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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