Baker Hughes Announces Changes to Board of Directors

HOUSTON--(BUSINESS WIRE)--March 7, 2001--Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that it has nominated Ambassador Edward P. Djerejian for election as a Class I director and has elected J. Larry Nichols as a Class II director effective April 25, 2001. The Company also announced that Max P. Watson, chairman of BMC Software, has informed the board that he will not stand for reelection at the April 25, 2001 annual meeting.

Ambassador Djerejian, director of the James A. Baker III Institute for Public Policy at Rice University, has been nominated for the position being vacated by Max P. Watson. Mr. Nichols, chairman, president and CEO of Devon Energy Corporation, has been elected to the position being vacated by Joe B. Foster, chairman of Newfield Exploration. Mr. Foster and Les Alberthal, former chairman of EDS, announced on July 19, 2000, their intent to resign from the board effective at the April 25, 2001 annual meeting.

Biographical Information

Mr. J. Larry Nichols, 58, is chairman, president and CEO of Devon Energy Corporation, an independent energy company engaged in oil and gas exploration and production and property acquisition. Mr. Nichols has served as president of Devon since 1976, CEO since 1980 and was elected chairman in 2000. Prior to joining Devon, he was a special assistant to the Assistant Attorney General in the Department of Justice as well as a law clerk for Supreme Court Chief Justice Earl Warren. Mr. Nichols also serves on the board of BOK Financial Corporation and Smedvig AS. He holds a J.D. from the University of Michigan Law School and a B.S. in Geology from Princeton University.

Ambassador Edward P. Djerejian, 61, is the director of the James A. Baker III Institute for Public Policy at Rice University. Prior to his nomination by President Clinton as U.S. Ambassador to Israel, Ambassador Djerejian served both the Bush and Clinton administrations as assistant secretary of state for near eastern affairs. He was also the U.S. ambassador to the Syrian Arab Republic during both the Bush and Reagan administrations. Ambassador Djerejian has also served as Deputy Assistant Secretary of Near Eastern and South Asian Affairs, as Special Assistant to President Reagan and Deputy Press Secretary for Foreign Affairs in the White House, and as Deputy Chief of the U.S. mission to the Kingdom of Jordan. Ambassador Djerejian is a member of the board of directors of Occidental Petroleum and Global Industries, Ltd. He holds a B.S. from the School of Foreign Service at Georgetown University and an Honorary Doctorate in Humanities from Georgetown University. Ambassador Djerejian has been awarded the Presidential Distinguished Service Award, the Department of State's Distinguished Honor Award, the President's Meritorious Service Award and the Ellis Island Medal of Honor.

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



CONTACT: Baker Hughes Incorporated, Houston
Gary R. Flaharty, 713/439-8039
Kyle J. Leak, 713/439-8042