Smith International, Inc. Announces Extension of W-H Energy Exchange Offer

  
    
  
  
    
      Smith International, Inc. (“Smith”) 
      (NYSE:SII) and W-H Energy Services, Inc. (“W-H”) 
      (NYSE:WHQ) today announced that the expiration date of the exchange 
      offer to acquire the outstanding shares of W-H has been extended until 
      12:00 midnight, Eastern time, at the end of Friday, August 8, 2008, 
      unless extended further. Based on a preliminary count by the exchange 
      agent for the exchange offer there were tendered, and not withdrawn, 
      3,992,249 shares of W-H common stock as of August 1, 2008.
    
    
      The applicable waiting period under the Hart-Scott-Rodino Antitrust 
      Improvements Act has not yet expired or been terminated. The 
      Hart-Scott-Rodino (“HSR”) 
      waiting period will expire at 11:59 p.m., Eastern time, on August 18, 
      2008, unless early termination of the waiting period is granted or Smith 
      or W-H receives a request for additional information or documentary 
      material. Smith remains very confident that all required regulatory 
      approvals will be received.
    
    
      Smith is a leading supplier of premium products and services to the oil 
      and gas exploration and production industry through its four principal 
      business units – M-I SWACO, Smith 
      Technologies, Smith Services and Wilson.
    
    
      W-H is a diversified oilfield services company that provides products 
      and services used in connection with the drilling and completion of oil 
      and natural gas wells and the production of oil and natural gas. W-H has 
      operations in North America and select areas internationally.
    
    
      Certain comments contained herein are forward-looking in nature and are 
      intended to constitute “forward-looking 
      statements.” These forward-looking statements 
      include, without limitation, statements regarding the consummation of 
      the transaction, the expiration of the HSR waiting period and any other 
      statements that are not historical facts. By their nature, 
      forward-looking statements involve risks and uncertainties that could 
      cause actual results to materially differ from those anticipated in the 
      statements. For a discussion of additional risks and uncertainties that 
      could impact the companies’ results, review 
      the Smith and W-H Annual Reports on Form 10-K for the year ended 
      December 31, 2007 and other filings with the Securities and Exchange 
      Commission (“SEC”). 
      These risks and uncertainties include the satisfaction of the conditions 
      to consummate the proposed acquisition, changes in laws or regulations 
      and other factors and uncertainties discussed from time to time in 
      reports filed by the companies with the SEC.
    
    
      In connection with the exchange offer, Smith filed a registration 
      statement on Form S-4 and a tender offer statement on Schedule TO with 
      the SEC on June 24, 2008, as amended, and W-H filed a 
      solicitation/recommendation statement on Schedule 14D-9 on June 24, 
      2008, as amended. These documents contain important information about 
      the exchange offer that should be read carefully before any decision is 
      made with respect to the exchange offer. These materials will be made 
      available to the shareholders of W-H at no expense to them. Investors 
      and security holders may obtain the documents free of charge at the SEC’s 
      web site, www.sec.gov. In addition, 
      such materials (and all other documents filed with the SEC) may be 
      obtained free of charge at www.smith.com 
      or www.whes.com. You may also read and 
      copy any reports, statements and other information filed by Smith or W-H 
      with the SEC at the SEC public reference room at 100 F Street N.E., 
      Room 1580, Washington, D.C. 20549. Please call the SEC at [phone] 
      or visit the SEC’s website for further 
      information on its public reference room. Copies of the exchange offer 
      materials may also be obtained at no charge from MacKenzie Partners, 
      Inc., the information agent for the exchange offer, toll-free at 
      1-800-322-2885.