Halliburton Announces Definitive Agreement to Acquire Magic Earth

- Strategic Move Brings Together Landmark Graphic's Integrated Suite of E&P

Software Solutions With Magic Earth's Innovative 3-D Visual Interpretation And

Data Mining Technology and Services -



Apr 30, 2001, 01:00 ET from Halliburton Company

    DALLAS, April 30 /PRNewswire/ -- Halliburton Company (NYSE:   HAL), today
 announced that Halliburton has signed a definitive agreement to acquire Magic
 Earth, Inc., a leading 3-D visualization and interpretation technology company
 with broad applications in the area of data mining. The agreement is subject
 to various regulatory and other approvals.
     Adding Magic Earth to the Halliburton family of companies will further
 enhance Halliburton's suite of integrated software solutions for the energy
 industry and grow its information products and services business. Magic
 Earth's dynamic visual interpretation technology provides a quantum
 improvement in oil and gas exploration by revolutionizing the 3-D seismic
 interpretation workflow process. Magic Earth will utilize Landmark's
 established sales distribution channels around the world. Landmark and Magic
 Earth will collaborate and integrate key technologies to further accelerate
 the rate of innovation and delivery of value-added solutions across the entire
 exploration and production spectrum.
     Under the agreement, Halliburton will acquire Magic Earth in a stock-for-
 stock transaction valued at $100 million. Magic Earth will become a wholly
 owned subsidiary of Halliburton and operate as a separate business unit.  The
 company will continue to provide its customers with the highest quality
 products and services while drawing on the strengths of Landmark's global
 marketing and sales presence.
     "In order to capture value early in the reservoir life cycle, our
 customers continue to need improved speed in their workflows," said Dave
 Lesar, chairman, president and CEO of Halliburton. "The acquisition and
 integration of Magic Earth's software with the Landmark data infrastructure
 and other leading software tools will provide best-in-class solutions
 unparalleled in the industry.  This strategic acquisition is not expected to
 be dilutive to earnings in 2001, and is expected to be accretive next year."
     "Magic Earth presents the industry with a technology breakthrough in
 visualizing and interpreting subsurface formations, as well as in data mining
 to find undiscovered hydrocarbons," said Edgar Ortiz, president and CEO of
 Halliburton Energy Services Group. "As a part of our vision to be The Real-
 Time Knowledge Company, the Energy Services Group is committed to improving
 the productivity of all upstream processes. Magic Earth's technologies will
 provide our customers with 3-D visual interpretation solutions required to
 significantly reduce the time to interpret seismic data. As the stream of data
 we need to interpret continues to grow, these technology-based productivity
 enhancements become even more essential."
     Founded in 1999, Magic Earth has established a profitable and growing
 business. The pending acquisition will expand the Halliburton and Landmark
 portfolio of industry-leading technologies and services. The combined product
 offering will improve value for both companies' customers. While both Landmark
 and Magic Earth brands will remain separate, Landmark will provide worldwide
 strategic distribution channels to Magic Earth.
     "Continuous improvement in the speed and accuracy of G&G workflows that
 support decision-making in the finding and producing of oil and gas has been
 Landmark's success story," said John Gibson, Landmark's president and CEO.
 "The acquisition of Magic Earth demonstrates our determination to continue
 delivering on this promise by developing or acquiring the leading
 tools in the industry for such workflows. We are preparing for another quantum
 leap in the volume of data from the emerging digital oil fields or E-fields.
 Magic Earth, in conjunction with other Landmark offerings, will enable our
 customers to meet the challenge of managing, browsing, interpreting and making
 real-time decisions based upon these vast volumes of data. Data mining and
 visualization are becoming critical in virtually every industry --
 technologies like this are now being used wherever you need to make rapid
 visual interpretations of complex data."
     Michael J. Zeitlin, chairman and CEO of Magic Earth, added, "Magic Earth's
 number one priority is our customers and their need for value-added innovation
 faster than ever before.  To this end, Magic Earth has developed and continues
 to innovate visualization and interpretation technology that cuts the cycle
 time of data analysis up to 90 percent with dramatically improved accuracy.
 The take-up of our technology is unprecedented within the industry, which has
 positioned us to move even faster in order to help supply the world's demand
 for energy.  With a powerful, new partner in Halliburton and Landmark, Magic
 Earth will further accelerate its rate of innovation and deploy better, more
 fully integrated solutions to a global E&P market in need of this technology."
     Zeitlin will remain president and CEO of Magic Earth.
     Magic Earth, headquartered in Houston, specializes in state-of-the-art
 volume visualization and interpretation software and solutions, including
 consultation services for interpretation projects, training and large-screen
 immersive visualization centers.  Magic Earth's R&D offices are located in
 Houston and Austin, Texas and its Europe, Africa and Middle East subsidiary,
 Magic Earth Ltd., is based in London. For additional information about Magic
 Earth, visit the company's Web site at www.magicearth.com.
     Landmark is the leading supplier of integrated E&P technical and economic
 software solutions, cost-effective Web-based data and application hosting, as
 well as consulting solutions and services to support decision making in
 finding, drilling and producing oil and gas. Knowledge-based E&P companies are
 partnering with Landmark to achieve higher levels of technical-to-business
 (T2B(TM)) process integration in order to better understand risk management
 and improve their returns on investment.  Visit the Landmark Web site at
 www.lgc.com for more information.
     Halliburton Company, founded in 1919, is the world's largest provider 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 Web site can be accessed at www.halliburton.com.
 
     NOTE: In accordance with the Safe Harbor provisions of the Private
 Securities Litigation Reform Act of 1995, Halliburton Company cautions that
 statements in this press release which are forward looking and which provide
 other than historical information involve risks and uncertainties that may
 impact the company's actual results of operations. Please see Halliburton's
 Form 10-K for the year ended December 31, 2000 for a more complete discussion
 of such risks.
 
     Landmark, the Landmark logo and T2B are trademarks or registered
 trademarks of Landmark Graphics Corporation.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X53635914
 
 

SOURCE Halliburton Company
    DALLAS, April 30 /PRNewswire/ -- Halliburton Company (NYSE:   HAL), today
 announced that Halliburton has signed a definitive agreement to acquire Magic
 Earth, Inc., a leading 3-D visualization and interpretation technology company
 with broad applications in the area of data mining. The agreement is subject
 to various regulatory and other approvals.
     Adding Magic Earth to the Halliburton family of companies will further
 enhance Halliburton's suite of integrated software solutions for the energy
 industry and grow its information products and services business. Magic
 Earth's dynamic visual interpretation technology provides a quantum
 improvement in oil and gas exploration by revolutionizing the 3-D seismic
 interpretation workflow process. Magic Earth will utilize Landmark's
 established sales distribution channels around the world. Landmark and Magic
 Earth will collaborate and integrate key technologies to further accelerate
 the rate of innovation and delivery of value-added solutions across the entire
 exploration and production spectrum.
     Under the agreement, Halliburton will acquire Magic Earth in a stock-for-
 stock transaction valued at $100 million. Magic Earth will become a wholly
 owned subsidiary of Halliburton and operate as a separate business unit.  The
 company will continue to provide its customers with the highest quality
 products and services while drawing on the strengths of Landmark's global
 marketing and sales presence.
     "In order to capture value early in the reservoir life cycle, our
 customers continue to need improved speed in their workflows," said Dave
 Lesar, chairman, president and CEO of Halliburton. "The acquisition and
 integration of Magic Earth's software with the Landmark data infrastructure
 and other leading software tools will provide best-in-class solutions
 unparalleled in the industry.  This strategic acquisition is not expected to
 be dilutive to earnings in 2001, and is expected to be accretive next year."
     "Magic Earth presents the industry with a technology breakthrough in
 visualizing and interpreting subsurface formations, as well as in data mining
 to find undiscovered hydrocarbons," said Edgar Ortiz, president and CEO of
 Halliburton Energy Services Group. "As a part of our vision to be The Real-
 Time Knowledge Company, the Energy Services Group is committed to improving
 the productivity of all upstream processes. Magic Earth's technologies will
 provide our customers with 3-D visual interpretation solutions required to
 significantly reduce the time to interpret seismic data. As the stream of data
 we need to interpret continues to grow, these technology-based productivity
 enhancements become even more essential."
     Founded in 1999, Magic Earth has established a profitable and growing
 business. The pending acquisition will expand the Halliburton and Landmark
 portfolio of industry-leading technologies and services. The combined product
 offering will improve value for both companies' customers. While both Landmark
 and Magic Earth brands will remain separate, Landmark will provide worldwide
 strategic distribution channels to Magic Earth.
     "Continuous improvement in the speed and accuracy of G&G workflows that
 support decision-making in the finding and producing of oil and gas has been
 Landmark's success story," said John Gibson, Landmark's president and CEO.
 "The acquisition of Magic Earth demonstrates our determination to continue
 delivering on this promise by developing or acquiring the leading
 tools in the industry for such workflows. We are preparing for another quantum
 leap in the volume of data from the emerging digital oil fields or E-fields.
 Magic Earth, in conjunction with other Landmark offerings, will enable our
 customers to meet the challenge of managing, browsing, interpreting and making
 real-time decisions based upon these vast volumes of data. Data mining and
 visualization are becoming critical in virtually every industry --
 technologies like this are now being used wherever you need to make rapid
 visual interpretations of complex data."
     Michael J. Zeitlin, chairman and CEO of Magic Earth, added, "Magic Earth's
 number one priority is our customers and their need for value-added innovation
 faster than ever before.  To this end, Magic Earth has developed and continues
 to innovate visualization and interpretation technology that cuts the cycle
 time of data analysis up to 90 percent with dramatically improved accuracy.
 The take-up of our technology is unprecedented within the industry, which has
 positioned us to move even faster in order to help supply the world's demand
 for energy.  With a powerful, new partner in Halliburton and Landmark, Magic
 Earth will further accelerate its rate of innovation and deploy better, more
 fully integrated solutions to a global E&P market in need of this technology."
     Zeitlin will remain president and CEO of Magic Earth.
     Magic Earth, headquartered in Houston, specializes in state-of-the-art
 volume visualization and interpretation software and solutions, including
 consultation services for interpretation projects, training and large-screen
 immersive visualization centers.  Magic Earth's R&D offices are located in
 Houston and Austin, Texas and its Europe, Africa and Middle East subsidiary,
 Magic Earth Ltd., is based in London. For additional information about Magic
 Earth, visit the company's Web site at www.magicearth.com.
     Landmark is the leading supplier of integrated E&P technical and economic
 software solutions, cost-effective Web-based data and application hosting, as
 well as consulting solutions and services to support decision making in
 finding, drilling and producing oil and gas. Knowledge-based E&P companies are
 partnering with Landmark to achieve higher levels of technical-to-business
 (T2B(TM)) process integration in order to better understand risk management
 and improve their returns on investment.  Visit the Landmark Web site at
 www.lgc.com for more information.
     Halliburton Company, founded in 1919, is the world's largest provider 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 Web site can be accessed at www.halliburton.com.
 
     NOTE: In accordance with the Safe Harbor provisions of the Private
 Securities Litigation Reform Act of 1995, Halliburton Company cautions that
 statements in this press release which are forward looking and which provide
 other than historical information involve risks and uncertainties that may
 impact the company's actual results of operations. Please see Halliburton's
 Form 10-K for the year ended December 31, 2000 for a more complete discussion
 of such risks.
 
     Landmark, the Landmark logo and T2B are trademarks or registered
 trademarks of Landmark Graphics Corporation.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X53635914
 
 SOURCE  Halliburton Company