
FOR IMMEDIATE RELEASE    Contact:  Guy T. Marcus  Barbara Johnson
July 18, 1997                      VP-Inv. Rel.   Media Rel.
                                   (214) 978-2691 (713) 676-8097


                    BROWN & ROOT CONTRACT TO LEAD UPGRADE OF
                       DEVONPORT SUBMARINE REFIT FACILITY


     DALLAS,  Texas -- Halliburton  Company's (NYSE:HAL) Brown & Root subsidiary
will provide project management support for the contractors' alliance to develop
and upgrade the nuclear  submarine refit  facilities at Devonport Royal Dockyard
in  Plymouth,  England,  the United  Kingdom's  largest  submarine  and  warship
refitting  facility.  The work is part of a  design  and  construction  contract
valued at about $600 million.  Brown & Root, through a UK holding company,  owns
51 percent of Devonport  Royal  Dockyard Ltd, the private  company that now owns
the dockyard.

     Brown & Root  provides  project  management  support  for the  contractors'
alliance,  which will design,  build and obtain regulatory  approval for the new
facilities  to refit and  refuel  all SSN and  Vanguard  Class  submarines.  The
project  includes the upgrade of  structures  and  facilities  for refitting and
refueling  Swiftsure and Trafalgar Class submarines and the conversion of a dock
to refit Vanguard submarines.  When completed, it will be the only dockyard that
meets the requirements to refit all of the UK's nuclear submarines.

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                       The Exhibit Index Appears on Page 4

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      "The  project will benefit  from Brown & Root's  extensive  experience  in
partnering and alliancing," said Halliburton  Company president Dave Lesar. "The
work will be carried out under a fixed-price,  incentive-fee  contract, with all
contractors  sharing  the  financial  risk and reward for its  success  with the
dockyard owners."

     In addition to Brown & Root, other members of the contractors' alliance are
Babtie Design Group Ltd,  Strachan & Henshaw Ltd.,  BNFL Ltd and Devonport Royal
Dockyard Ltd.

     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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                                Page 6 of 6 Pages
                       The Exhibit Index Appears on Page 4

