Baker Hughes Declares Regular Quarterly Dividend

HOUSTON, Jan 30, 2002 (BUSINESS WIRE) -- Baker Hughes Incorporated (NYSE:BHI)(PSE:BHI)(EBS:BHI) chairman, president and chief executive officer, Michael E. Wiley, announced today that the Baker Hughes Board declared the regular quarterly cash dividend of $.115 per share of common stock payable Feb. 25, 2002, to holders of record Feb. 11, 2002.

The company announced that the Annual Meeting of Stockholders will be held on Wednesday, April 24th at 9:00 a.m. at the offices of the company, 3900 Essex Lane, Suite 210, Houston, Texas. The Board of Directors has also fixed March 6, 2002 as the record date for the Annual Meeting.

Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS.

CONTACT: Baker Hughes Incorporated, Houston Gary R. Flaharty, 713/439-8039 gary.flaharty@bakerhughes.com or Kyle J. Leak, 713/439-8042 kyle.leak@bakerhughes.com URL: http://www.businesswire.com