Baker Hughes Declares Regular Quarterly Dividend

HOUSTON, July 28 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; PCX; EBS) chairman 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 August 20, 2004, to holders of record August 9, 2004.

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:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE Baker Hughes Incorporated

CONTACT: Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels,
+1-713-439-8822, both of Baker Hughes Incorporated
Web site: http://www.bakerhughes.com