Baker Hughes Announces May 2004 Rig Counts

HOUSTON, June 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI; PCX; EBS) announced today that the international rig count forMay 2004 was 839, up seven from the 832 counted in April 2004, and up 84 fromthe 755 counted in May 2003. The international offshore rig count forMay 2004 was 249, down 11 from the 260 counted in April 2004, and up 14 fromthe 235 counted in May 2003.

The US rig count for May 2004 was 1,164, up 13 from the 1,151 counted inApril 2004 and up 129 from the 1,035 counted in May 2003. The Canadian rigcount for May 2004 was 187, up 34 from the 153 counted in April 2004 and up37 from the 150 counted in May 2003.

The worldwide rig count for May 2004 was 2,190 up 54 from the 2,136counted in April 2004 and up 250 from the 1,940 counted in May 2003.

May 2004 Rotary Rig Counts May 2004 April 2004 May 2003 --------------- -------------- --------------- Land OS Total Var. Land OS Total Land OS Total ------------------------------------------------------------------------- Europe 27 44 71 (9) 30 50 80 31 50 81 Middle East 191 34 225 (1) 194 32 226 179 30 209 Africa 37 14 51 5 32 14 46 34 20 54 Latin America 225 68 293 8 213 72 285 180 58 238 Asia Pacific 110 89 199 4 103 92 195 96 77 173 International 590 249 839 7 572 260 832 520 235 755 United States 1,069 95 1,164 13 1,058 93 1,151 922 113 1,035 Canada 185 2 187 34 149 4 153 146 4 150 North America 1,254 97 1,351 47 1,207 97 1,304 1,068 117 1,185 ------------------------------------------------------------------------- Worldwide 1,844 346 2,190 54 1,779 357 2,136 1,588 352 1,940 ========================================================================= May 2004 Workover Rig Counts May 2004 Var. April 2004 May 2003 ------------------------------------------------------------------------- United States 1,205 (23) 1,228 1,144 Canada 490 296 194 255 ------------------------------------------------------------------------- North America 1,695 273 1,422 1,399 ========================================================================= About the Baker Hughes Rig Counts

The Baker Hughes Rotary Rig Counts are counts of the number of drillingrigs actively exploring for or developing oil or natural gas in the UnitedStates, Canada and international markets. Baker Hughes has issued the rotaryrig counts as a service to the petroleum industry since 1944, when Hughes ToolCompany began weekly counts of US and Canadian drilling activity. Hughesinitiated the monthly international rig count in 1975. In 1987, Baker OilTools began its monthly workover rig count.

North American rig count data is scheduled to be released at noon centraltime on the last working day of each week. The international rig count andNorth American workover rig counts are scheduled to be released on the 5thworking day of the month. Additional detailed information on the Baker Hughesrig counts are available from our website athttp://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 gasindustry.

NOT INTENDED FOR BENEFICIAL HOLDERS Contact: Gary R. Flaharty (713) 439-8039 H. Gene Shiels (713) 439-8822SOURCE Baker Hughes Incorporated -0- 06/07/2004 /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 http://www.bakerhughes.com/investor/rig / (BHI)CO: Baker Hughes IncorporatedST: TexasIN: OILSU:CJ-JS -- DAM006 --4000 06/07/2004 01:00 EDT http://www.prnewswire.com

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