HOUSTON, March 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for February 2008 was 1,032, down 21 from the 1,053 counted in January 2008, and up 51 from the 981 counted in February 2007. The international offshore rig count for February 2008 was 275, down 16 from the 291 counted in January 2008 and down 11 from the 286 counted in February 2007. The US rig count for February 2008 was 1,765, up 16 from the 1,749 counted in January 2008 and up 29 from the 1,736 counted in February 2007. The Canadian rig count for February 2008 was 620, up 126 from the 494 counted in January 2008 and down 15 from the 635 counted in February 2007. The worldwide rig count for February 2008 was 3,417, up 121 from the 3,296 counted in January 2008 and up 65 from the 3,352 counted in February 2007. February 2008 Rotary Rig Counts February 2008 January 2008 February 2007 Land OS Total Var. Land OS Total Land OS Total ========================================================================= Europe 46 35 81 (12) 48 45 93 27 47 74 Middle East 243 29 272 (3) 241 34 275 223 29 252 Africa 42 16 58 (10) 52 16 68 52 12 64 Latin America 299 74 373 8 291 74 365 276 84 360 Asia Pacific 127 121 248 (4) 130 122 252 117 114 231 International 757 275 1032 (21) 762 291 1053 695 286 981 United States 1709 56 1765 16 1690 59 1749 1651 85 1736 Canada 619 1 620 126 492 2 494 633 2 635 North America 2328 57 2385 142 2182 61 2243 2284 87 2371 ------------------------------------------------------------------------- Worldwide 3085 332 3417 121 2944 352 3296 2979 373 3352 About the Baker Hughes Rig Counts The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States, Canada and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of US and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. North American rig count data is scheduled to be released at noon central time on the last working day of each week. The international rig count is scheduled to be released on the 5th working day of the month. Additional detailed information on the Baker Hughes rig counts is available from our website at http://www.bakerhughes.com/investor/rig. Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry. Contacts: Gary R. Flaharty (713) 439-8039 H. Gene Shiels (713) 439-8822 DATASOURCE: 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/

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