


FOR IMMEDIATE RELEASE           Contact: Guy T. Marcus
October 30, 1998                Vice President, Investor Relations
                                (214) 978-2691


                    HALLIBURTON 1998 FOURTH QUARTER DIVIDEND

        DALLAS, Texas -- Halliburton Company (NYSE:HAL) announced today that its
board of  directors  has declared a 1998 fourth  quarter  cash  dividend of 12.5
cents a share on the  company's  common  stock,  payable  December  22,  1998 to
shareholders of record at the close of business on December 1, 1998.
        Halliburton Company, founded in 1919, is the world's largest provider of
products and services to the petroleum and energy industries. The company serves
its  customers  with a broad range of products and  services  through its Energy
Services Group,  Engineering and Construction Group, and Dresser Equipment Group
business  segments.  In 1997  Halliburton's  consolidated  revenues  were  $16.3
billion and it conducted  business with a workforce of approximately  100,000 in
over 120  countries.  The  company's  World  Wide Web  site can be  accessed  at
http://www.halliburton.com.

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