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FOR IMMEDIATE RELEASE         Contact - Guy T. Marcus
February 15, 1995             Vice President-Inv. Rel.
                              (214) 978-2691

                HALLIBURTON AND McDERMOTT CONCLUDE
                FORMATION OF SCOTTISH JOINT VENTURE

     DALLAS, Texas -- Halliburton Company (NYSE-HAL) and J. Ray
McDermott (NYSE-JRM) announced today that Halliburton's Brown &
Root Energy Services business unit and McDermott Scotland, Ltd.
have completed the formation of a new equally owned company which
will operate their North Sea fabrication yards in the Highland
Region of Scotland.

     The new company merges Brown & Root's fabrication yard at
Nigg with McDermott's yard at Ardersier to form Brown & Root
McDermott Fabricators Limited.  The company, which is effective
from January 31, 1995, will work with either owner for turnkey
and large topside projects.

     Brown & Root McDermott Fabricators Limited will create
economies of scale in an industry segment in need of
rationalization, as well as give the owners the capability of
providing a fully integrated range of construction services for
the North Sea.  The owners anticipate that the two yards will
become more competitive, which should lead to increased business
and job opportunities in the future.

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     More than 1,000 people are employed at Nigg and about 600 at
Ardersier on current contracts.  Brown & Root McDermott
Fabricators will complete these projects and seek new business
opportunities.

     J. Ray McDermott is a worldwide marine construction company.

Its services include design, fabrication, transportation, and
installation of new and refurbished offshore platforms,
installation of offshore pipelines, and design and installation
of subsea production facilities for the offshore oil and gas
industry.  McDermott International Inc. (NYSE-MDR) owns a
majority interest in J. Ray McDermott.

     Brown & Root Energy Services is an operating unit of Brown &
Root, Inc., a Halliburton Company.  Brown & Root Energy Services
provides oil and gas services worldwide including engineering,
project management, fabrication, pipelay, subsea, logistics,
maintenance and operations activities.

     Halliburton Company is one of the world's largest
diversified energy services, engineering, maintenance, and
construction companies.  Founded in 1919, Halliburton provides a
broad range of energy services and products, industrial and
marine engineering and construction services, and property and
casualty insurance services.