FOR IMMEDIATE RELEASE                  Contact: Wendy Hall
May 20, 2002                                    Public Relations
                                                713.676.5227
                                                wendy.hall@halliburton.com

                                                Cedric Burgher
                                                Investor Relations
                                                713.676.4608
                                                cedric.burgher@halliburton.com


            HALLIBURTON ASBESTOS PLAINTIFFS AGREE TO EXTEND CURRENT
                            STAY ON ASBESTOS CLAIMS

DALLAS,  Texas - Halliburton  Company  (NYSE:  HAL) today  announced that it has
reached  agreement with  Harbison-Walker  Refractories  Company and the Official
Committee  of  Asbestos   Creditors  in  the   Harbison-Walker   bankruptcy   to
consensually  extend the period of the stay contained in the Bankruptcy  Court's
temporary   restraining   order  until  June  4,  2002.  The  Court's  temporary
restraining order, which was originally entered on February 14, 2002, stays more
than 200,000 pending asbestos claims against  Halliburton's  subsidiary  Dresser
Industries,  Inc.  For more details on the stay entered by the Court on February
14, and extended on February 21 and April 4,  Halliburton  refers to its earlier
press releases of February 22, 2002 and February 14, 2002.
     Halliburton,  founded in 1919, 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  Group business  segments.  The
company's World Wide Web site can be accessed at www.halliburton.com.

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