BJ Services to Redeem Convertible Senior Notes Due 2022

BJ Services Company (NYSE: BJS; CBOE; PCX) has called for the redemption of all of its outstanding Convertible Senior Notes due 2022. The aggregate redemption price is approximately $422.4 million ($817.99 per $1,000 principal amount), plus accrued and unpaid interest to, but excluding, the redemption date, which is April 25, 2005. The Company intends to fund the redemption of the Notes from cash. Holders will have the right to elect to convert their Notes to shares of the Company's common stock, par value $.10 per share, at any time prior to the close of business on the second business day before the redemption date, in accordance with the terms of the indenture governing the Notes. If any holder exercises such right, the Company has the right to settle the conversion in cash, common stock or a combination thereof.

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