

FOR IMMEDIATE RELEASE               Contact: Guy T. Marcus
July 6, 1998                                 Vice President, Investor Relations
                                             (214) 978-2691


              HALLIBURTON-DRESSER MERGER CLEARS EUROPEAN COMMISSION


         DALLAS, Texas -- Halliburton Company (NYSE:HAL) and Dresser Industries,
Inc.  (NYSE:DI)  today  received the  European  Commission's  decision  that the
Commission does not oppose the merger of the two companies.

         The Commission indicated, considering that Halliburton has committed to
divest itself of its 36 percent ownership  interest in M-I Drilling Fluids,  the
drilling  fluids  business  does not presently  constitute an "affected  market"
under the European Community Merger Control Regulation.

         Halliburton  and  Dresser  previously  announced  a  definitive  merger
agreement  which calls for  Dresser's  shareholders  to receive one newly issued
share  of  Halliburton  for  each  share  of  Dresser.  Both  of the  companies'
shareholders  have voted their approval for the merger plan. At the present time
the companies have other regulatory filings in process with the U.S.  Department
of Justice and  regulatory  agencies in certain other  countries.  The companies
expect to complete the merger during the fall of 1998.

         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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