Schlumberger Announces Management Changes

The Board of Directors of Schlumberger Limited announced that Euan Baird, Chairman and Chief Executive Officer of Schlumberger Limited will retire from the company on February 1, 2003.

He will be succeeded by Andrew Gould, President and Chief Operating Officer of Schlumberger Limited. Gould, who holds a degree in Economic History from University College in Wales, joined Schlumberger Internal Audit from Ernst & Young in 1975. Since then he has held a succession of financial and operational management positions including that of Executive Vice President of Schlumberger Oilfield Services from 1999 to 2002.

Gould was appointed to his current position in March 2002 and has been a director of the Schlumberger Limited board since April of this year.