National Oilwell Varco Announces 2-for-1 Stock Split

National Oilwell Varco (NYSE:NOV) has approved a 2-for-1 stock split to be effected in the form of a stock dividend. Each stockholder of record on September 7, 2007 will be issued one additional share of the Company's common stock for each issued and outstanding share owned as of that date. The distribution will be made on September 28, 2007.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, stated, "We are pleased to announce this stock split. We believe this stock split will increase liquidity in our stock and improve investment opportunities for our investors. This action is a direct indication of our confidence in our strategy and outlook going forward."

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.