[2] Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit On Behalf of Shareholders of Baker Hughes Inc.

NEW YORK--(BUSINESS WIRE)--Dec. 10, 1999--

The following announcement was issued by the law firm of Faruqi & Faruqi, LLP.:

Notice is hereby given that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of all purchasers of Baker Hughes Inc, (NYSE: BHI) common stock between May 3, 1999 and December 9, 1999, inclusive (the "Class Period")

The Complaint charges Baker Hughes and certain of its executive officers with violations of the federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Among other things, plaintiff claims that defendants issued a series of materially false and misleading statements in press releases and SEC filings concerning Baker Hughes' revenues and earnings. As a result, the price of Baker Hughes' common stock was inflated throughout the Class Period. On December 9, 1999, Baker Hughes shocked the market by announcing that it has discovered "accounting issues" at its Integ oil-exploration unit that may require the Company to restate certain of its earlier financial results.

Plaintiff seeks to recover damages on behalf of all purchasers of Baker Hughes common stock during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by the law firm of Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.

If you purchased Baker Hughes common stock during the Class Period, you may, not later than 60 days from December 9, 1999, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:

STACEY J. DANA, ESQ. ANTHONY VOZZOLO, ESQ. FARUQI & FARUQI, LLP 415 Madison Avenue New York, NY 10017 Telephone: [phone] or [phone] Fax: [phone] e-mail ([e-mail])