

FOR IMMEDIATE RELEASE   Contact: Guy T. Marcus          George H. Juetten
May 8, 1998                      Halliburton Company    Dresser Industries
                                 (214) 978-2691         (214) 740-6757

                HALLIBURTON AND DRESSER ANNOUNCE SPECIAL MEETINGS

         DALLAS, Texas -- Halliburton Company (NYSE:HAL) and Dresser Industries,
Inc. (NYSE:DI) jointly announce that both companies' board of directors have set
May 15, 1998 at the close of  business as the record date for the  determination
of shareholders  entitled to notice of and to vote at their  respective  special
meetings of shareholders  which will be held on June 25, 1998. The meetings will
be held to  consider  and vote on  issues  relating  to the  proposed  merger of
Halliburton and Dresser.
         Both companies will hold their special meetings of shareholders on June
25, 1998 in Dallas, Texas.  Halliburton Company's shareholders will consider and
vote on proposals to increase the  company's  authorized  shares of common stock
from 400 million to 600 million shares and approve issuance of approximately 175
million shares of Halliburton common stock pursuant to the previously  announced
merger agreement with Dresser. Halliburton's shareholders will also consider and
vote  upon  items  normally   addressed  at  the  company's  annual  meeting  of
shareholders,  which was postponed  from its  originally  scheduled May 19, 1998
date so that such items could be combined with items  associated with the merger
at a single meeting of shareholders.  Dresser  Industries,  Inc.'s  shareholders
will consider and vote on the proposed merger with  Halliburton at their special
meeting of shareholders.

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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.
         Dresser is a leading global  supplier to the total  hydrocarbon  energy
stream. Dresser's product and service offerings encompass sophisticated drilling
and well construction systems as well as technologies, engineering equipment and
project management for the transportation and conversion of oil and natural gas.

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