EXHIBIT 99.2

CellNet Data Systems to be Acquired By Schlumberger Resource Management
Services Through an Asset Acquisition Following CellNet Chapter 11 Filing and
Court Approval

SAN CARLOS, Calif., February 1, 2000--CellNet Data Systems, Inc.
(NASDAQ:CNDS), a market-leading provider of telemetry services, announced
today that its Board of Directors has approved a proposed asset acquisition
by Schlumberger Resource Management Services (RMS), a business unit of
Schlumberger Limited (NYSE: SLB), for $55 million in cash, the repayment or
assumption of certain secured financing in the amount of approximately $120
million, and the assumption of certain other liabilities.  The Schlumberger
RMS asset acquisition of CellNet would be handled through a Chapter 11 filing
and would require final approval by the Bankruptcy Court, a process that
CellNet anticipates completing by the end of April 2000.

If the Court approves the proposed transaction in its present form, the
CellNet 14% Senior Discount Notes and those liabilities not assumed by
Schlumberger RMS will share in the $55 million cash noted above.
Furthermore, there will be no value allocated to the current equity of the
CellNet common stock (NASDAQ: CNDS) and the 7% Exchangeable Preferred
Securities of CellNet Funding, LLC (NASDAQ: CNDSP).  The allocation of the
distributions (dividends) held in escrow for CellNet Funding, LLC
(NASDAQ:CNDSP) will be subject to review by the Court.

In connection with the filing, Schlumberger RMS will provide
debtor-in-possession (DIP) funding to enable CellNet to continue its ongoing
operations, including, but not limited to, the ongoing provision of network
services, the deployment of networks for its current customers, and the
marketing of its network services to prospective customers.  Upon closing of
the acquisition, the DIP funding will be extinguished.

John T. LaMacchia, CellNet president and chief executive officer, said, "This
transaction ensures that CellNet continues to provide superior network
service to its current utility customers, and continues to deploy and market
its networks and technology.  After an exhaustive search for short- and
long-term financing, our board determined this acquisition to be the best
available option.

"With the provision of the DIP funding and the proposed acquisition plan,
CellNet is able to remove the short-term financial uncertainty surrounding its
ongoing operations.  Recognizing the importance of our suppliers, we intend to
contact them as soon as possible regarding our




situation.  We value our supplier relationships and are working to keep those
relationships intact as CellNet begins the transition to becoming a part of
the Schlumberger RMS team."

The Company

CellNet Data Systems, Inc. is an industry pioneer and leading provider of
low-cost "telemetry services"  defined as the ability to transmit and receive
data for the remote monitoring and control of devices. CellNet networks are
the largest and fastest-growing of their kind in the world, providing
connectivity for millions of devices in the energy industry and other
municipal markets. For more Company information visit http://www.cellnet.com.

Certain statements contained in this News Release are forward-looking
statements, including, without limitation, statements relating to:
expectations with respect to the acquisition of CellNet by Schlumberger RMS;
the removal of financial uncertainty; the ability to meet CellNet's
short-term and long-term financial needs; the approval by the Court of
CellNet's pre-arranged bankruptcy filing; its ability to continue ongoing
operations, network services and network deployments; the ability to keep
supplier and other relationships intact; its ability to meet its commitments
to employees, customers and suppliers; and the effect of a Chapter 11
Reorganization on the value of any common stock of CellNet and/or 7%
Exchangeable Preferred Securities of CellNet Funding, L.L.C.  These
statements therefore are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Actual results may differ
from these statements and such differences may be material.  Investors are
encouraged to review CellNet's most recent Form 10-K and Form 10-Q filed with
the Securities and Exchange Commission for a discussion of these and
additional factors that could affect CellNet's future performance.