FOR IMMEDIATE RELEASE        Contact -  Guy T. Marcus
February   , 1996                       Vice President-Inv. Rel.
                                        (214) 978-2691

    DIVIDEND DECLARATION AND SHAREHOLDERS' MEETING

     DALLAS,  Texas -- The  board of  directors  of  Halliburton  Company  today
declared a first quarter  dividend of 25 cents per share on the Company's common
stock, payable March 27, 1996 to shareholders of record at the close of business
March 6, 1996.

     The Company's  annual meeting of  shareholders  was set for May 21, 1996 in
Dallas, Texas. Record date for determination of shareholders entitled to vote at
such meeting is March 2 , 1996 at the close of business.

     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  and
industrial and marine engineering and construction services.

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                       The Exhibit Index appears on Page 4