Baker Hughes Names Anthony G. Fernandes Director

HOUSTON, Jul 30, 2001 (BUSINESS WIRE) -- Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that Anthony (Tony) G. Fernandes, 56, has been elected as a Class II director of the company effective Oct. 25, 2001.

Mr. Fernandes is the chairman, president and chief executive officer of Philip Services Corporation (PSC), one of North America's leading providers of a broad base of industrial outsourcing, waste management and metals services. Mr. Fernandes joined PSC after more than 30 years executive management experience with the Atlantic Richfield Company ("ARCO"). His most recent position was executive vice president of ARCO's downstream operations from 1994 to 1999. Prior to assuming operational responsibilities, Mr. Fernandes gained 20 years of senior financial experience at ARCO including the chief financial officer role in the company's oil exploration and production unit. Mr. Fernandes has a Bachelor of Science degree from Cornell University and an MBA from Columbia University.

Michael E. Wiley, Baker Hughes chairman, president and chief executive officer, commented, "Having worked with Tony at ARCO, I know that his focus on operational excellence will benefit Baker Hughes. His extensive experience and financial background will make for a strong addition to our board of directors. We are glad to have him aboard."

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