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HALLIBURTON TO SELL HIGHLANDS INSURANCE

 HALLIBURTON TO SELL HIGHLANDS INSURANCE
 DALLAS, July 27 /PRNewswire/ -- Halliburton Company (NYSE: HAL)


announced today that the company will pursue divestiture alternatives for its wholly owned Highlands Insurance Company subsidiary and its related companies (Highlands). Halliburton has engaged Smith Barney, Harris Upham & Company Incorporated to act as its exclusive agent for the sale of Highlands.
 Highlands, headquartered in Houston, is a specialty writer of commercial property and casualty and workers compensation insurance, with particular expertise in the energy and engineering and construction industries. The company is licensed in 50 states within the United States as well as the Virgin Islands, Puerto Rico and the United Kingdom, and derives a significant portion of its business from the states of Texas and Louisiana. Highlands' 1991 revenues were approximately $480 million. At Dec. 31, 1991 its assets were in excess of $1.0 billion and shareholder's equity was about $300 million .
 Thomas H. Cruikshank, chairman of the board and chief executive officer of Halliburton, said, "While Highlands has been consistently profitable throughout its history and its future earnings prospects are good, the insurance business does not closely fit Halliburton's future growth plans. Our principal objectives relate to more fully developing worldwide opportunities within Halliburton's two core business segments, the Energy Services Group and the Engineering and Construction Services Group. Our strategy is to more sharply focus our resources in these two areas. Highlands has been successful in developing a substantial and high quality business base since being acquired by Halliburton in 1963. The sale of Highlands to an organization more fully committed to financial services will enable Highlands to better capitalize on its capabilities."
 Halliburton Company is one of the world's largest diversified energy services, engineering, maintenance, and construction companies. Founded in 1919, Halliburton provides a broad range of energy services and products, industrial and marine engineering and construction services, and property and casualty insurance services.
 -0- 7/27/92
 /CONTACT: Guy T. Marcus, vice president-investor relations of Halliburton, 214-978-2691/
 (HAL) CO: Halliburton Company; Highlands Insurance Company ST: Texas IN: INS SU: TNM


TS -- NY012 -- 3333 07/27/92 08:22 EDT
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Date:Jul 27, 1992
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