NYSE Stock Symbol: HALCommon Dividend: $0.09 per quarterShares Outstanding: 894 Million as of 10/13/2008www.halliburton.com

Investor Relations Contacts:Christian Garcia, Vice President – 713.759.2688

Brad Alexander, Manager – 713.759.2692investors@halliburton.com

Investor BookJanuary 2009

The statements in this presentation that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: consequences of audits and investigations by domestic and foreign government agencies and legislative bodies and related publicity; potential adverse proceedings by such agencies; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to radioactive sources, explosives, and chemicals; compliance with laws related to income taxes and assumptions regarding the generation of future taxable income; unsettled political conditions, war, and the effects of terrorism, foreign operations, and foreign exchange rates and controls; weather-related issues including the effects of hurricanes and tropical storms; changes in capital spending by customers; execution of long-term, fixed-price contracts; changes in the demand for or price of oil and/or natural gas; impairment of oil and gas properties; structural changes in the oil and natural gas industry; increased competition for employees; availability of raw materials; and integration of acquired businesses and operations of joint ventures. Halliburton's Form 10-K for the year ended December 31, 2007, Form 10-Q for the quarter ended September 30, 2008, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect the business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Halliburton Company

Company Overview

Investment Themes

Financial Performance

1

• One of the largest providers of products and services to the energy industry• 2007 Revenue: $15.3 billion• 55,000+ employees in approximately 70 countries

Halliburton Global Franchise

2

$6,878

$8,386

Completion and Production

Production Enhancement

Cementing

Completion Tools

Drilling and Evaluation

Sperry

Wireline

Baroid

Security DBS Drill Bits

LandmarkBalanced Product

Portfolio

Revenue by Division Year Ended December 31, 2007(in millions)

3

$3,700

$2,633

$1,798

$7,133

Revenue growth of 24% in 2007Contract wins in the Middle East coupled with growing markets in India and China

Middle East / Asia Pacific

Revenue growth of 10% in 2007Continued development of unconventional markets, horizontal drilling trends, deepwater, and oil sands

North America

Revenue growth of 29% in 2007Deep/Harsh water environment with expanding North African and Russia/Caspian markets

Europe / Africa / CIS

Revenue growth of 19% in 2007Leveraging deepwater expertise, integrated projects, and expansion in non-traditional markets

Latin America

47%53%North AmericaInternational

Performance by Region Year Ended December 31, 2007(in millions)

17%17%

24%24%

12%12%

47%47%

4

Developing NOC relationships

Delivering Halliburton’s proven technologies

Expanding underserved markets

Directional Drilling, Evaluation, Completions leading change

International Market Business Focus

5

Development of unconventional resources: shale gas, heavy oil, and coal bed methane

Trend towards horizontal drilling

Increasing stimulation intensity

North America Business Focus

6

Halliburton Company

Company Overview

Investment Themes

Financial Performance

7

Growing levels of service intensity

Infrastructure investments to deliver next phase of international growth

Robust technology portfolio integrated with the Digital Asset platform

Investment Themes

8

Harder to access

Harder to find

In smaller accumulations

Heavier

More costly

With fewer experienced resources

More deeply buried reservoirs

The Next Trillion Barrels Will Be…

Exploration

Field Planning & Development

Production

World Energy Demand Is Increasing …Service Intensity

9

0

30

60

1930 2030

DiscoveredFuture DiscoveryProduction

Bill

ion

bbl

Persia, Iraq

Saudi Arabia,Kuwait

GOMShelf

All Regions

Prudhoe Bay, North Sea

Deepwater GOM, Brazil & West Africa

Source: “Oil & Gas Journal” 2004 and “A Thousand Barrels a Second” – P. Tertzakian, EIA and ARC

19841974196519481939

75

150

0

Mboe/day

Brazil (est)- Tupi- Carioca

Declining Size of DiscoveriesService Intensity

10

International revenue/rig approximately 2.5 times North America

0

500

1,000

1,500

2,000

2,500

Q104

Q204

Q304

Q404

Q105

Q205

Q305

Q405

Q106

Q206

Q306

Q406

Q107

Q207

Q307

Q407

Q108

Q208

Q308

North America International

Growth of Revenue Per RigService Intensity

Revenue Per Rig($ thousands)($ thousands)

11

Leverage leading positions in several product lines:

Offshore revenue per rig 3-4 times Land

Balancing the PortfolioService Intensity

0

20

40

60

80

100

120

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

Significant additions to Offshore Fleet

1982 20081995

CompletionsCementingStimulation

Directional Drilling/LWDDrilling FluidsWireline

12

*Source: Spears and Associates**Source: Simmons and Company Energy Industry Report April 2006

United States Horizontal Drilling*Service Intensity

U.S. Land: + 50% IRR in US unconventional reserves (shale plays)2X cost of vertical, 3X reserve recovery**

Hor

izon

tal R

ig C

ount

Horizontal %

of Total

500

400

300

200

100

0

1991

1993

1995

1997

1999

2001

2003

2005

2007

10%

0%

30%

20%

13

Robust Technology Portfolio

Talent Pool Development

Global Infrastructure

Infrastructure Investments

14

Technology Training & Expertise

88 Nations

51%

United States

45%

U.K.4% 92% Nationalized

30

35

40

45

50

Africa Asia Pacific Europe &Eurasia

Middle East Canada LatinAmerica

Gulf CoastUSA

NorthernUSA

SouthernUSA

0

2

4

6

8

10

12

14

Age Years of ServiceAge Years of Service

Talent Pool DevelopmentInfrastructure Investments

15

Increased worldwide manufacturing capacity with the opening of four new facilities:– Malaysia– Singapore– Mexico– Brazil

Directional Drilling, Completions, and Wireline

Proximity to customer base

Lower cost sourcing opportunities

Supply ChainInfrastructure Investments

16

Exton – PA

Nisku – Canada

Duncan – OK

Alvarado – TX

Houston – TX

Brussels - Belgium

Tewkesbury – England

Pune – India

Singapore – Asia

Expanding our R&D FootprintInfrastructure Investments

Carrollton – TX

Aberdeen - Scotland

17

0.0

1.0

2.0

3.0

4.0

5.0

6.0

2003 2004 2005 2006 2007

Technology-driven Revenue Growth

Patent Scorecard™ – Nov. 2008

Source: Patent Board

Leading InnovatorTechnology Portfolio

The Patent Scorecard ranks corporate innovation using a series of metrics to determine patent quality, technological strength and breadth of impact.

12345678910

Halliburton 761 276Royal Dutch Shell 613 140Schlumberger 450 298Weatherford 406 102Baker Hughes 317 193ExxonMobil Corp 158 252National Oilwell Varco 86 44Smith International 78 88BJ Services 67 23General Electric 46 52

*Based on 13-week rolling averages

Rank CompanyTech

Strength*Patents

Granted*

(($ Billions)Billions)

18

A real-time collaborative environment to model, measure and optimize the customer’s asset

Enabling the Digital AssetTechnology Portfolio

20

Halliburton Company

Company Overview

Investment Themes

Financial Performance

21

Halliburton has a compounded average growth rate (CAGR)

over 20% since Q1 2005

International revenues –28% CAGR over the

same timeframe

$ 0

$ 1,000

$ 2,000

$ 3,000

$ 4,000

$ 5,000

Q105

Q205

Q305

Q405

Q106

Q206

Q306

Q406

Q107

Q207

Q307

Q407

Q108

Q208

Q308

International North America

Total Quarterly Revenue

47%53%

International North America

2007 Revenue Breakdown

Demonstrated Financial Performance(millions)(millions)

22