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2002 Press Releases
FOR IMMEDIATE RELEASE: July 31, 2002

HALLIBURTON INITIATES STUDENT GRANT PROGRAM TO ENCOURAGE PARTICIPATION IN PROFESSIONAL ENERGY-RELATED ORGANIZATIONS

Houston, Texas - Halliburton has initiated a program with the American Association of Petroleum Geologists (AAPG) and the Society of Exploration Geophysicists (SEG) to formalize a process through which it will pay the membership dues for college students wishing to join the organizations. In addition, the company is investigating the possibility of a similar program with the Society of Petroleum Engineers (SPE).

AAPG's president Dan L. Smith, said, "Corporate Student Sponsorship is an important step in AAPG's Student Outreach Program. The people shortage crisis in the Energy Business is real and can only be solved by students choosing a career path in Geoscience. Halliburton's willingness to support this program is important to our great country and is greatly appreciated by AAPG."

The program applies to both domestic and international students. Dues in the organizations range from $12.50 to $20 per student.

John Gibson, president of Halliburton Energy Services and the originator of this initiative, said "This is an initiative in which everyone participating benefits. Students will have access to professional organizations that can provide them with continuing education and networking opportunities and we will have access to students who are pursuing formal education in areas in which we will need help in the future."

SEG President-Elect Mike Bahorich, echoed AAPG's sentiment that the Halliburton sponsorship will be valuable. "We are delighted that Halliburton is sponsoring these memberships as they provide an opportunity for students to learn more about industry and to develop valuable contacts." Jeff Donnellan, vice president, Halliburton Energy Services, estimates that the annual cost for this initiative will be in the $125,000 to $250,000 range.

Halliburton Energy Services, a business unit of Halliburton (NYSE: HAL), provides products, services, and integrated solutions for oil and gas exploration, development, and production. Capabilities range from initial evaluation of producing formations to drilling, completion, stimulation, and well maintenance - for a single well or an entire field. With more than 300 service centers in over 90 countries, Halliburton Energy Services possesses the global perspective that is increasingly important for energy exploration and production.

Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com.


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