FOR IMMEDIATE RELEASE               Contact:  Cedric W. Burgher
August 23, 2002                               Halliburton, Investor Relations
                                              713/676-4608

                                              Wendy Hall
                                              Halliburton, Public Relations
                                              713/676-5227


                        HALLIBURTON DIVIDEND DECLARATION


         DALLAS, Texas - The board of directors of Halliburton (NYSE: HAL) today
declared a second quarter  dividend of twelve and one-half cents ($.125) a share
on the company's  common stock payable  September 26, 2002, to  shareholders  of
record at the close of business on September 5, 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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