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NEWS FROM DRESSER INDUSTRIES, INC. ANNUAL MEETING OF SHAREHOLDERS

 DALLAS, March 18 /PRNewswire/ -- Dresser Industries, Inc. (NYSE: DI) told shareholders today that the Dallas-based corporation is a stronger and more focused company that it was a year ago due to the spin-off in 1992 of mining and construction equipment and industrial product operations, the completion of a new pump joint venture with Ingersoll- Rand and the recently announced acquisitions of two important energy- related businesses.
 Speaking at the company's annual meeting of shareholders, John J. Murphy, chairman and chief executive officer, said those developments capped a long-term strategy "to transform Dresser from a multi-industry conglomerate into a company that focuses on serving the worldwide hydrocarbon energy industries." As part of that strategy, Dresser has divested a total of 26 operating units, acquired 12 oil- and gas-related businesses, formed several key joint ventures and implemented a broad range of internal efficiency initiatives.
 "We now have strong and growing positions in the most attractive of the oilfield service markets and a very major presence in engineering services and hydrocarbon processing equipment," Murphy commented.
 He noted that Dresser will be strengthened by the acquisition of Bredero Price, a leading international onshore and offshore pipe coating business, and the agreement to purchase TK Valve, one of the world's leading suppliers of ball valves for oil and gas production and transmission. Both purchases will provide Dresser new and complementary product and market capabilities and additional earnings in the 1993 fiscal year.
 Murphy stressed that the outlook for Dresser "is very good." "We have aggressively restructured, stripped our operations of unnecessary costs and instituted intensive asset management and total quality programs. We are positioned to realize favorable levels of profitability at current levels of global economic activity and will have substantial operating leverage as demand for energy improves."
 Other speakers at the annual meeting included Bill D. St. John, Vice Chairman, who discussed the company's financial results and condition; William E. Bradford, President and Chief Operating Officer, who reviewed operations and the company's first quarter 1993 performance; and Donald C. Vaughn, Chairman and Chief Executive Officer of Dresser's M.W. Kellogg operations, who commented on opportunities in process engineering and construction markets.
 At the meeting, Dresser shareholders elected a 12-member board of directors and defeated a proposal related to South African operations.
 Elected to the Board of Directors were:
 -- William E. Bradford, President and Chief Operating Officer, Dresser Industries, Inc., Dallas;
 -- Samuel B. Casey Jr., Retired Chairman of the Board, Dixon Ticonderoga Company, Vero Beach, Fla.;
 -- Lawrence S. Eagleburger, Senior Foreign Policy Advisor, Baker, Worthington, Crossley, Stansberry & Woolf, Washington, D.C.;
 -- Rawles Fulgham, Senior Advisor, Merrill Lynch & Co., Dallas;
 -- John Gavin, Chairman, The Century Council, and President, Gamma Service International, Los Angeles
 -- Ray L. Hunt, Chairman of the Board, Chief Executive Officer and President, Hunt Consolidated, Inc., Dallas;
 -- John J. Murphy, Chairman of the Board and Chief Executive Officer, Dresser Industries, Inc., Dallas;
 -- W. George Nancarrow, Retired Chairman of the Board and Chief Executive Officer, D&M Holding Inc., and Retired Chairman of the Board, DeGolyer and MacNaughton Inc., Dallas;
 -- Lionel H. Olmer, Partner, Paul, Weiss, Riffkind, Wharton & Garrison, Washington, D.C.;
 --Dr. A. Kenneth Pye, President, Southern Methodist University, Dallas;
 -- Bill D. St. John, Vice Chairman of the Board, Dresser Industries, Inc., Dallas;
 -- Richard W. Vieser, Retired Chairman of the Board, Chief Executive Officer and President, FL Industries, Inc., Livingston, N.J.
 As previously announced, Dresser's quarterly dividend of $0.15 per common share will be paid March 22, 1993 to shareholders of record at March 2, 1993.
 Dresser is a leading supplier of highly engineered products and services utilized in hydrocarbon energy-related activities throughout the world. The company had total revenues, including its share of major joint ventures, of $4.8 billion in fiscal 1992.
 -0- 3/18/93
 /CONTACT: Donald R. Galletly of Dresser Industries, Inc., 214-740-6757/
 (DI)


CO: Dresser Industries, Inc. ST: Texas IN: SU:

LR -- NY042 -- 7498 03/18/93 12:17 EST
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Date:Mar 18, 1993
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