Halliburton KBR, Toyo Engineering Renew Ammonia Technology AllianceNov. 30, 2001

Halliburton KBR and Toyo Engineering Corporation (TEC) of Japan have agreed to renew their licensing agreement for Halliburton KBR's ammonia technology. The agreement covers the full range of the company's proprietary ammonia technologies including the premiere solution for low-energy, high-value ammonia design, KAAPplus™ (KBR Advanced Ammonia Process Plus). The original agreement between the two companies was signed in 1968. Halliburton KBR is the engineering and construction segment of Halliburton (NYSE: HAL), the world's largest provider of products and services to the petroleum and energy industries.

"Our 33-year relationship with TEC has helped us become the technology leader in the critical world ammonia market," said Randy Harl, president and chief executive officer, Halliburton KBR. "Today, Halliburton KBR's ammonia technologies deliver our clients continued reduced energy consumption at a lower capital cost, at the highest level of safety, reliability, operability and environmental efficiency."

"This renewal signals a strong commitment by both KBR and TEC to our customers to continue to provide leading ammonia technology and cost-competitive EPC solutions on a worldwide basis," said Toshihiko Hirose, president and chief executive officer of TEC.

As of today, TEC has executed 46 projects that incorporate KBR technology. Projects underway include a 1,200 metric tons per day grassroots ammonia plant for PT. Pupuk Iskandar Muda in Indonesia and a retrofit to National Chemical Fertilizer Company's plant in Al Jubail, Saudi Arabia, which will increase production capacity from 1,500 mtpd to 1,750 mtpd.

Halliburton KBR is an international, technology-based engineering and construction company that provides a full spectrum of industry-leading services for public infrastructure and to the hydrocarbon, chemical, energy, and forest products industries.

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 World Wide Web site can be accessed at www.halliburton.com.

Toyo Engineering Corporation is a worldwide engineering and construction contractor that provides both engineering and a variety of licensed process technologies including its own technologies such as ACES 21 urea and urea granulation processes, styrenics (polystyrene and SAN) production processes, MRF-Z® methanol reactor and HSC residue oil upgrading process. For more information about TEC, visit their web site at www.toyo-eng.co.jp

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