

FOR IMMEDIATE RELEASE           Contact: Guy T. Marcus
July 16, 1998                            Vice President, Investor Relation
                                         (214) 978-2691


                     HALLIBURTON 1998 THIRD QUARTER DIVIDEND

         DALLAS,  Texas -- Halliburton  Company (NYSE:HAL)  announced today that
its board of directors  has declared a 1998 third  quarter cash dividend of 12.5
cents a share on the  company's  common  stock,  payable  September  24, 1998 to
shareholders of record at the close of business on September 3, 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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