FOR IMMEDIATE RELEASE                  Contact: Cedric W. Burgher
- ---------------------                           Halliburton, Investor Relations
May 15, 2002                                    (713) 676-4608

                                                Wendy Hall
                                                Halliburton, Public Relations
                                                (713) 676-5227


      HALLIBURTON 2002 SHAREHOLDERS' MEETING AND SECOND QUARTER DIVIDEND


         DALLAS, Texas - At Halliburton  Company's (NYSE: HAL) annual meeting of
shareholders in Dallas today,  the  shareholders  elected all 12 nominees to the
board of directors, approved the adoption of an employee stock purchase plan and
voted against a shareholder proposal.

Shareholders re-elected Robert L. Crandall,  Kenneth T. Derr, Charles J. DiBona,
Lawrence S. Eagleburger,  W. R. Howell,  Ray L. Hunt, David J. Lesar,  Aylwin B.
Lewis, J. Landis Martin,  Jay A. Precourt,  Debra L. Reed and C. J. Silas.  Lord
Clitheroe,  a director since 1987,  retired from the board  immediately prior to
the shareholders' meeting.

At the board of directors'  meeting  following the  shareholders'  meeting,  the
board  declared  a  second  quarter  dividend  of 12.5  cents  per  share on the
company's  common stock payable June 27, 2002 to  shareholders  of record at the
close of business on June 6, 2002.

Halliburton Company, founded in 1919, is one of the world's largest providers of
products and services to the petroleum and energy industries. The company serves
sits  customers  with a broad range of products and  services through its Energy
Services Group and Engineering and  Construction  Group business  segments.  The
company's World Wide Web site can be accessed at www.halliburton.com.



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