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NABORS INDUSTRIES MAKES ANNOUNCEMENT

 HOUSTON, Dec. 23 /PRNewswire/ -- Nabors Industries, Inc. (AMEX: NBR) today announced that two senior officers had exercised options allowing them to purchase a total of 3.776 million shares and had then sold 1.6 million of these shares. The two officers, Gene Isenberg, chairman, and Warren Berman, vice chairman, indicated that the sale of the shares was in anticipation of potential changes in corporate and personal tax laws. The transaction was designed to ensure the deductibility of the appreciation of the options to the company by having the sale and gain occur in the current year.
 Isenberg and Berman continue to be major shareholders of the company. After the transaction, Isenberg will continue to have a beneficial interest in approximately 6 million shares. Berman will continue to have a beneficial interest in approximately 2.5 million shares.
 Nabors Industries is one of the largest international land drilling companies, operating 102 land rigs, as well as 12 platform, three jackup and one barge rig. The company is a major participant in most of the significant oil, gas and geothermal drilling markets of the world, including Alaska, the Middle East, South and Central America, the North Sea, the Far East, West and North Africa, Canada, the "lower 48" and the Gulf of Mexico. Complementing its drilling business, Nabors provides comprehensive oilfield management, logistics and engineering services.
 -0- 12/23/92
 /CONTACT: Harris Kaplan of Nabors Industries, Inc., 713-874-0035/
 (NBR)


CO: Nabors Industries, Inc. ST: Texas IN: OIL SU:

WB -- NY059 -- 9718 12/23/92 17:02 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:256
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