

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


                     HALLIBURTON COMPLETES DEBT TENDER OFFER


         DALLAS,  Texas - Dresser Industries,  Inc., a subsidiary of Halliburton
Company (NYSE:HAL), announced today that its Change of Control Offer to purchase
for cash at 101 percent of principal amount,  plus accrued  interest,  of all of
the outstanding 8 percent guaranteed senior notes due 2003 of Baroid Corporation
expired at 5:00 PM Eastern  Standard Time on Monday,  November 30, 1998. At that
time, an aggregate of $10,935,000  in principal  amount of the  $150,000,000  of
notes outstanding had been tendered.  Under the terms of the offer, the tendered
notes may be withdrawn at any time prior to 5:00 PM,  Central  Standard Time, on
December 10, 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 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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