FOR IMMEDIATE RELEASE                       Contact:   Guy T. Marcus
July 2, 1997                                           Vice President-Inv. Rel.
                                                       (214) 978-2691


                     HALLIBURTON $50 MILLION NOTES OFFERING

     DALLAS,  Texas -- An offering of $50 million  principal amount  Halliburton
Company  (NYSE:HAL)  6.27  percent  notes due July 8, 1999  under the  company's
medium-term  note program was issued today through the company's  agents Merrill
Lynch & Co., Lehman Brothers,  Morgan Stanley & Co. Incorporated and NationsBanc
Capital Markets, Inc. The notes were priced at par.
     The net proceeds from the sale of the notes will be added to  Halliburton's
general  funds  and  used for  general  corporate  purposes  which  may  include
repayment of debt, acquisitions, and loans and advances to and/or investments in
subsidiaries of Halliburton to support their  requirements  for working capital,
repayment of debt and capital expenditures.
     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.

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                       The Exhibit Index Appears on Page 4