FOR IMMEDIATE RELEASE               CONTACT:  Wendy Hall
                                              Halliburton Public Relations
                                              713-676-5227

                                              Cedric Burgher
                                              Halliburton Investor Relations
                                              713-676-4933


                COURT EXTENDS STAY ON HALLIBURTON ASBESTOS CLAIMS



DALLAS, Texas -- Halliburton Company (NYSE: HAL) today announced that yesterday,
February 21, 2002, the U.S. Bankruptcy Court that issued a temporary restraining
order on February 14, 2002 staying more than  200,000  pending  asbestos  claims
against Halliburton's subsidiary Dresser Industries,  Inc. has extended the time
period of such  stay  until  April 4,  2002.  On April 4, the Court  will hold a
hearing to decide if the stay will  continue in place or be  modified.  For more
details  on the stay  entered by the Court on  February  14,  2002,  Halliburton
refers to its earlier press release of the same date.

     Founded in 1919,  Halliburton  is one of the world's  largest  providers 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 and Engineering and Construction business segments. The company's
World Wide Web can be accessed at www.halliburton.com.

                                       ###