FOR IMMEDIATE RELEASE                       Contact:  Guy T. Marcus
June 10, 1997                                         Vice President-Inv. Rel.
                                                      (214) 978-2691

               HALLIBURTON DECLARES TWO-FOR-ONE COMMON STOCK SPLIT

         DALLAS,  Texas -- Halliburton  Company (NYSE:HAL)  announced today that
its board of directors has approved a two-for-one common stock split effected in
the form of a stock dividend, to shareholders of record at the close of business
on June 26,  1997.  Certificates  for the new shares  will be mailed on or about
July 21, 1997. Par value will remain at $2.50 per share.
         Previously,  Halliburton  announced a 1997 second  quarter common stock
cash dividend of 25 cents per share,  payable June 25, 1997 to  shareholders  of
record at the close of  business on June 4, 1997.  The common  stock split is an
event  subsequent  to the cash  dividend  payment.  Had the common  stock  split
occurred prior to this cash dividend, the dividend would have been equivalent to
12.5 cents per share.
         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.

                                      # # #

                               Page 5 of 5 Pages
                      The Exhibit Index Appears on Page 4