FOR IMMEDIATE RELEASE        Contact - Guy T. Marcus
May 16, 1995                           Vice President-Inv. Rel.
                                       (214) 978-2691

    1995 SHAREHOLDERS' MEETING AND SECOND QUARTER DIVIDEND

     DALLAS,  Texas -- At Halliburton  Company's  (NYSE:  HAL) annual meeting in
Dallas today, the company's  shareholders  elected all ten nominees to the board
of directors and ratified the  appointment  of Arthur  Andersen LLP to audit the
company's   financial   statements  for  the  year  1995.  Also,   Halliburton's
shareholders rejected a proposal set forth by a shareholder  requesting that the
company  take  steps  to  provide  for  cumulative  voting  in the  election  of
directors.

     At the board of directors meeting following the shareholders  meeting,  the
board declared a second quarter  dividend of 25 cents per share of common stock,
payable June 22, 1995 to shareholders of record at the close of business June 1,
1995.

     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.

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