3rd Quarter Results

    Schlumberger Limited, New York
Doug Pferdehirt, 212-350-9432
or
Paulo Loureiro, 212-350-9432
[e-mail]

           Schlumberger Announces Third Quarter 2003 Results

Schlumberger Limited (NYSE:SLB) today reported third quarter 2003
operating revenue of $3.51 billion versus $3.39 billion in 2002.
Income from continuing operations of $242 million was 44% higher than
last year before charges and credits. Net loss of $55 million was
after net charges of $298 million, which included the final charge of
$86 million related to the extinguishment of certain European bonds
and an impairment charge of $205 million after tax and minority
interest against the WesternGeco multiclient seismic library.

Income from continuing operations, excluding net charges, was $0.41
per share compared to $0.29 per share last year. Including the net
charges, loss from continuing operations was $0.09 per share compared
to income of $0.29 per share last year.

Oilfield Services revenue of $2.18 billion increased 2% compared to
the second quarter of 2003, and 8% compared to the third quarter of
last year. Pretax operating income of $393 million increased 3%
sequentially and 20% year-on-year.

WesternGeco revenue of $263 million was 14% lower than the second
quarter of 2003, and 34% lower compared to the third quarter of last
year. Pretax operating loss of $36 million, which excluded the
impairment charge, deteriorated $20 million sequentially and compared
to break-even in the third quarter of 2002.

SchlumbergerSema revenue of $792 million was 6% lower sequentially,
but was 6% higher year-on-year. Pretax operating income of $27 million
increased $3 million sequentially and $30 million year-on-year.

Schlumberger Smart Cards revenue of $202 million increased 25%
sequentially and 27% year-on-year. Pretax operating income of $22
million significantly increased from $8 million in the last quarter
and $7 million in the third quarter of 2002.

On September 22, Schlumberger signed a binding agreement with Atos
Origin for the sale of the majority of SchlumbergerSema businesses.
The transaction, which is expected to close in January 2004, consists
of EUR400 million in cash and a fixed number of 19.3 million of Atos
Origin common shares. Schlumberger will retain a number of specific
activities that include Business Continuity, Infodata and Telecom
Products, which are being considered for future divestiture.
Additionally, Schlumberger will retain the activity of IT Services for
the oil and gas industry.

Schlumberger Chairman and CEO Andrew Gould commented, "The oilfield
activity trends noted in the second quarter continued in the third
with strength in the Americas, Russia and the Middle East. Gas
remained the primary driver in North America, while in Latin America
energy supply growth needs in Mexico and a further resumption of
drilling activity in Venezuela spurred activity. Demand for a range of
wireline logging, well services and well completions technologies was
strong in the Middle East. Growth in Oilfield Services pretax
operating income exceeded revenue growth by a very satisfactory
margin.

The further write-down of the WesternGeco data library reflects the
continued distressed conditions of the multiclient business,
particularly in the Gulf of Mexico. The acceptance of Q-Technology
remains encouraging with several highly successful surveys during the
quarter.

The agreement for the sale of the majority of the SchlumbergerSema
businesses to Atos Origin is a major step in our strategy of
refocusing Schlumberger on our core business of technical services and
reservoir solutions to the upstream oil and gas industry. We have
retained the information technology business in upstream oil and gas,
and combined it with our Schlumberger Information Solutions segment to
provide a powerful and focused offering to enhance the core
Exploration & Production operational processes, including those
relating to real-time reservoir management and data transmission.

Looking ahead, North American gas storage is likely to reach
sufficient pre-winter storage levels, but this should not affect the
level of gas drilling activity significantly, as the challenge will
remain the maintenance of current levels of production. Increasing
supplies of oil from non-OPEC sources would indicate a flattening of
activity in the coming quarters."


             Consolidated Statement of Income (Unaudited)

                       (Stated in thousands except per share amounts)
                            Third Quarter           Nine Months   
For Periods Ended  ---------------------------------------------------
 September 30           2003          2002        2003         2002
----------------------------------------------------------------------
Revenue
    Operating         $3,508,067  $3,388,985  $10,309,931  $9,857,578
    Interest and
     other
     income(1)            29,579      40,917       98,325     112,930
----------------------------------------------------------------------
                       3,537,646   3,429,902   10,408,256   9,970,508
----------------------------------------------------------------------
Expenses
    Cost of goods
     sold and
     services
     (2)(4)            3,164,248   2,699,281    8,545,768   7,783,085
    Research &
     engineering         156,195     154,325      455,197     458,481
    Marketing             92,352      93,538      269,037     266,305
    General              170,178     164,092      502,045     479,823
    Debt extin-
     guishment
     costs(3)             86,328           -      167,801           -
    Interest              75,926      98,238      261,090     276,904
----------------------------------------------------------------------
                       3,745,227   3,209,474   10,200,938   9,264,598
----------------------------------------------------------------------
Income (Loss) from
 continuing
 operations
 before taxes
 and minority
 interest               (207,581)    220,428      207,318     705,910
Taxes on income (4)      (41,378)     56,878       90,124     187,391
----------------------------------------------------------------------
Income (Loss) from
 continuing
 operations
 before
 minority
 interest               (166,203)    163,550      117,194     518,519
Minority interest
 (2)(4)                  110,880       4,688      117,800      (2,449)
----------------------------------------------------------------------
Income (Loss) from
 Continuing
 Operations              (55,323)    168,238      234,994     516,070
Income (Loss) from
 Discontinued
 Operations                    -       4,599      (29,033)     25,274
----------------------------------------------------------------------
Net Income (Loss)       $(55,323)   $172,837     $205,961    $541,344
----------------------------------------------------------------------
Diluted Earnings
 (Loss) Per Share:
   Income (Loss)
    from
    Continuing
    Operations            $(0.09)      $0.29        $0.41       $0.89
   Income (Loss)
    from
    Discontinued
    Operations                 -        0.01        (0.05)       0.05
                   -------------- ----------- ------------ -----------
    Net Income
     (Loss)               $(0.09)      $0.30        $0.36       $0.94
                   ============== =========== ============ ===========
Average shares
 outstanding             585,179     579,632      583,288     577,727
Average shares
 outstanding
 assuming dilution       585,179(a)  581,856      593,420     581,468

(a) There was no dilution of shares in the third quarter of 2003 due
    to the net loss. Assuming dilution, fully diluted shares would
    have been 607,255.

Depreciation 
 & Amortization 
 included in
 expenses(5)            $410,849    $402,280   $1,211,967  $1,148,879
----------------------------------------------------------------------

1) Includes interest income of:

    --  Third quarter 2003 - $11 million (2002 - $17 million).
    --  Nine months 2003 - $39 million (2002 - $56 million).

2) The first quarter of 2002 includes a $29 million charge (pretax $30
   million and minority interest credit of $1 million) related to the
   financial/economic crisis in Argentina ($0.05 per share -
   diluted).

3) Related to the repurchase of European bonds ($0.14 per share in the
   second quarter of 2003 and $0.14 per share in the third quarter of
   2003).

4) The third quarter of 2003 includes a $205 million ($0.34 per share)
   multiclient library impairment charge (pretax $398 million, tax
   benefit $106 million and minority interest credit $88 million), a
   $38 million ($0.06 per share) vessel impairment charge (pretax $54
   million and minority interest credit $16 million) and a pretax and
   after tax gain of $31 million ($0.05 per share) on the sale of a
   rig. In addition, the quarter included a provision for insurance
   claims and a release of a prior period business divestiture
   reserve which substantially offset.

5) Including multiclient seismic data costs.


           Condensed Consolidated Balance Sheet (Unaudited)

                                                          (Stated in
                                                           thousands)
Assets                                  Sept. 30, 2003   Dec. 31, 2002
----------------------------------------------------------------------
Current Assets
   Cash and short-term investments         $2,018,213      $1,736,016
   Other current assets                     5,513,544       5,449,424
----------------------------------------------------------------------
                                            7,531,757       7,185,440
Fixed income investments, held to
 maturity                                     250,000         407,500
Fixed assets                                4,316,035       4,663,756
Multiclient seismic data                      539,120       1,018,483
Goodwill                                    4,409,178       4,229,993
Other assets                                1,970,832       1,930,023
----------------------------------------------------------------------
                                          $19,016,922     $19,435,195
----------------------------------------------------------------------

Liabilities and Stockholders' Equity
----------------------------------------------------------------------
Current Liabilities
   Accounts payable and accrued
    liabilities                            $4,148,617      $4,580,762
   Estimated liability for taxes on
    income                                    687,495         625,058
   Bank loans and current portion of
    long-term debt                            956,310       1,135,533
   Dividend payable                           110,389         109,565
----------------------------------------------------------------------
                                            5,902,811       6,450,918
Long-term debt                              6,178,820       6,028,549
Postretirement benefits                       592,401         544,456
Other liabilities                             263,912         251,607
----------------------------------------------------------------------
                                           12,937,944      13,275,530
Minority interest                             397,386         553,527
Stockholders' Equity                        5,681,592       5,606,138
----------------------------------------------------------------------
                                          $19,016,922     $19,435,195
----------------------------------------------------------------------


                         Net Debt (Unaudited)

Net Debt represents gross debt less cash, short-term investments and 
fixed income investments, held to maturity. Details of Net Debt
follows:

                                                  (Stated in millions)
Nine Months                                                      2003
----------------------------------------------------------------------
Net Debt, beginning of period                                 $(5,021)
   Net income from continuing operations                          235
   Charges                                                        379
   Depreciation and amortization                                1,212
   Change in working capital                                     (474)
   Capital expenditures                                          (817)
   Dividends paid                                                (327)
   Debt extinguishment costs                                     (168)
   Employee stock plans                                           121
   Sale of NPTest                                                 220
   Sale of Grant Prideco stock                                    106
   Other                                                          (26)
   Translation effect on net debt                                (307)
                                                              --------
Net Debt, end of period                                       $(4,867)
                                                              ========



                                                  (Stated in millions)
Components of Net Debt                  Sept. 30, 2003   Dec. 31, 2002
----------------------------------------------------------------------
Cash and short-term investments             $2,018          $1,736
Fixed income investments, held to
 maturity                                      250             408
Bank loans and current portion of long-
 term debt                                    (956)         (1,136)
Long-term debt                              (6,179)         (6,029)
                                           --------        -------- 
                                           $(4,867)        $(5,021)
                                           ========        ========


                            Business Review
   
(Stated in millions)       Third Quarter             Nine Months
                       ---------------------   ----------------------
                       2003(2)   2002  % chg   2003(2)  2002(2) % chg
                       ---------------------   ----------------------
Oilfield Services
-----------------
Operating Revenue      $2,179  $2,018     8%   $6,282   $5,881     7%
Pretax Operating
 Income(1)               $393    $326    20%   $1,090     $981    11%

WesternGeco
-----------
Operating Revenue        $263    $399   (34)%    $875   $1,144   (23)%
Pretax Operating
 Income(1)               $(36)    $(1)    -      $(52)     $65     -

SchlumbergerSema
----------------
Operating Revenue        $792    $746     6%   $2,425   $2,179    11%
Pretax Operating
 Income(1)                $27     $(3)    -       $66       $1     -

Other(3)
--------
Operating Revenue        $349    $304    15%     $946     $856    10%
Pretax Operating
 Income(1)                $34      $6     -       $51       $7     -


1)  Pretax operating income represents income before taxes and
    minority interest, excluding interest income, interest expense and
    amortization of certain intangibles.

2)  The third quarter of 2003 excludes $86 million of debt
    extinguishment costs and a charge of $421 million for impairment
    and other charges/credits.

    The second quarter of 2003 excludes $81 million of debt
    extinguishment costs.

    The first quarter of 2002 excludes a $30 million charge related to
    the financial/economic crisis in Argentina.

3)  Principally comprises the Cards, Terminals and Meters North
    America activities.



Oilfield Services

Third quarter revenue of $2.18 billion was 2% higher sequentially and
increased 8% year-on-year as the M-I rig count increased 9%
sequentially and 22% year-on-year. The year-on-year revenue increase
was primarily due to growth in North America and Latin America, as
well as strong growth in the Wireline, Drilling & Measurements and
Well Services businesses.

Pretax operating income of $393 million increased 3% sequentially and
20% year-on-year. The Europe/CIS/West Africa and Latin America
GeoMarkets led sequential growth, while the year-on-year increase was
primarily spurred by North America land and Latin America, partially
offset by lower activities in the Gulf of Mexico.

North America

Revenue of $659 million was 3% higher sequentially and 18%
year-on-year as the M-I rig count increased 15% sequentially and 33%
year-on-year. Pretax operating income of $92 million was flat
sequentially, but increased 41% year-on-year.

Continued high gas prices coupled with incentives from the British
Columbia government contributed to increased drilling activity in
Canada. US Land posted strong growth both sequentially and
year-on-year as strong natural gas markets fueled by low gas storage
levels drove rig counts to a two-year high. Tropical storms and
unseasonably strong loop currents in the Gulf Coast contributed to
sequential and year-on-year declines.

Sequentially, the quarter saw a strong performance for Well Services,
with increased fracturing work in the Rockies and higher overall
activity in Canada. Year-on-year, Well Services, Drilling &
Measurements, and Wireline all performed well. Well Services
introduced VDA(a) Viscoelastic Diverting Acid, an advanced acidizing
system for carbonate formations, into the Canadian market. Wireline
formation sampling behind casing is quickly gaining momentum in the
Rockies, where demand for the newly introduced CHDT(a) Cased Hole
Dynamics Tester, part of the ABC(a) Analysis Behind Casing suite of
services, has surged. Sensa(a), part of Well Completions &
Productivity, achieved a significant milestone with the installation
of its two millionth foot of optical fiber in Alberta, Canada, where
its distributed temperature sensor system regularly monitors downhole
temperatures in excess of 520 degrees F (270 degrees C).

Latin America

Revenue of $372 million increased 7% sequentially and 17% year-on-year
as the M-I rig count increased 3% sequentially and 26% year-on-year.
Pretax operating income of $62 million increased 6% sequentially and
43% year-on-year.

High exploration activity in Brazil and drilling rig increases in
Argentina led to strong year-on-year performance, however sequential
results were affected by a one-time gain the previous quarter. With
drilling and workover projects on the rise, Venezuela rig activity
returned to last November's pre-strike levels. Operations in Peru and
Ecuador suffered from interruptions due to rig moves, while Colombia
saw lower activity. In Mexico, recently awarded contracts came into
full effect, with solid execution producing strong results both
sequentially and year-on-year.

Year-on-year, Wireline, Drilling & Measurements, Well Completions &
Productivity and Integrated Project Management all showed strong
growth. The deployment of PowerDrive(a) Rotary Steerable Systems and
the ABC suite of services has been a major breakthrough for
Schlumberger operations in Venezuela. Well Services introduced
LiteCRETE(a) low-density high strength cement slurry and CemNET(a)
loss circulation technology into Integrated Project Management
activity in the area.

Europe/CIS/West Africa

Revenue of $617 million was flat sequentially and decreased 5%
year-on-year, as the M-I rig count (excluding Russia) increased 1%
sequentially, but decreased 4% year-on-year. Pretax operating income
of $116 million increased 1% sequentially and 15% year-on-year.

Year-on-year revenue declines were primarily impacted by production
shutdowns in the Western Niger delta in Nigeria and lower North Sea
activity. Year-on-year improvements were driven by Well Completions &
Productivity activity in Angola and Chad, and the Galaxie stimulation
vessel performing PowerSTIM(a), a service which integrates
Schlumberger petrophysical and reservoir expertise with completion
design, execution and evaluation to deliver improved stimulation
treatments. The quarter was marked by the continued positive impact of
new technology on operations and pricing. This included the full range
of PowerDrive sizes and the growth of significant sales of
PhaseWatcher(a) and PhaseTester(a) services, which use Vx(a)
production testing technology to measure oil, water and gas in a
continuous stream without the need for separation.

Contract wins during the quarter included the award of the Dalia
deepwater 67-well completions project for Total offshore Angola. This
contract includes many customized solutions, as well as several
differentiating technologies, such as intelligent completions,
intervention-less completions tools and monitoring systems.
Schlumberger will provide the latest SenTREE(a) 7 and Commander(a)
telemetry technologies, along with associated services to enable
completion running, monitoring and clean-up from dynamically
positioned drilling units.

Middle East & Asia

Revenue of $517 million increased 1% sequentially and 8% year-on-year,
as the M-I rig count increased 1% sequentially and 7% year-on-year.
Pretax operating income of $128 million decreased 4% sequentially, but
increased 12% year-on-year.

Across the Area, there was high demand for several new technologies,
such as Well Services' VDA, LiteCRETE and CemNET; Wireline's ABC; and
Drilling & Measurements' PowerDrive technologies, as well as SIS'
Petrel subsurface interpretation software. The East Africa and East
Mediterranean GeoMarket recorded sequential and year-on-year revenue
growth from strong demand for Wireline, Well Services and Well
Completions & Productivity services. Delivery of Artificial Lift pumps
resulted in sequential and year-on-year growth in the Arabian
GeoMarket. Sequential growth was strong in the
Malaysia/Brunei/Philippines GeoMarket with higher deepwater activity
using Wireline and Well Services technologies.

During the quarter, Schlumberger was awarded a three-year bundled
services contract as part of a consortium providing services for
India's Oil and Natural Gas Corporation's (ONGC) 6,000 ft. (1,800
meters) deepwater campaign. Schlumberger was also sub-contracted to
assist with securing ONGC's three-year, 9,900 ft. (3,000 meters)
deepwater project. The work, which is expected to start later this
year, includes logging-while-drilling, directional drilling, wireline
logging, drill stem testing, well testing, and cementing services.
Schlumberger technical leadership, deepwater expertise and local
experience were key to securing this work.

Highlights

-- In Alaska, BP awarded Schlumberger a five-year contract to provide
integrated solutions on the North Slope. Schlumberger will provide a
comprehensive range of reservoir stimulation and production
enhancement services for new and existing wells; conventional and
coiled tubing drilling programs, including cementing, tubing-conveyed
perforating, coiled tubing, fracturing and matrix stimulation and
slickline; and Wireline and Drilling & Measurements services.

-- In Russia, Schlumberger and Sibneft achieved several significant
milestones, which included the completion of 1,000 fracturing and
1,000 cementing jobs, as well as the construction of 100 horizontal
wells in Western Siberia. These joint activities contributed to
Sibneft's record increase in crude oil production for the year 2002
and continued rapid production growth in 2003.

-- Schlumberger signed a contract with Shell UK Ltd. and BP
Exploration Operating Company Ltd. to develop a rotary steerable
system for slimhole drilling and through-tubing rotary drilling (TTRD)
applications. The new system is expected to offer a step-change in the
cost of drilling with rotary steerable technology when applied to
through-tubing applications since there is no need to pull completion
strings for redrills. Such technology has major implications in mature
areas such as the North Sea, where the trend is toward field life
extension.

-- Schlumberger Information Solutions (SIS) signed a multi-year,
multi-product software master agreement with Shell International
Exploration and Production to provide a set of exploration and
production (E&P) application software, which will form an important
part of the Shell Global Standard Software Portfolios. The agreement
includes information management, geoscience, reservoir simulation,
well and production engineering, and economics solutions.

-- SIS acquired VoxelVision, a Norway-based company that developed a
powerful visualization engine and seismic functionality for managing,
visualizing and interpreting massive 3D volumes in a PC environment.
Coupled with SIS industry-leading applications, the VoxelVision engine
provides the most cost-effective combination of interpretation
applications and technologies, enabling an order of magnitude increase
in speed and efficiency for exploration or production interpretation.

-- Husky Energy selected Schlumberger Well Completions & Productivity
to provide intelligent completions equipment and services for its
White Rose offshore development in the Jeanne d'Arc Basin in Canada.
The award includes dual zonal control using hydraulic flow control and
downhole safety valves.

-- Wireline introduced DecisionXpress(a), a petrophysical evaluation
system that integrates data from the Platform Express(a) and Elemental
Capture Spectroscopy(a) services in a unique interpretation software
program. The PC-based application provides rapid data visualization
and reprocessing capabilities with minimal user inputs, and delivers a
robust petrophysical evaluation in sand/shale reservoirs at the
wellsite or in a client's office in real time.

WesternGeco

Revenue of $263 million was 14% lower sequentially and 34% lower
year-on-year. A pretax operating loss of $36 million deteriorated by
$20 million sequentially and $36 million year-on-year.

Both sequential and year-on-year revenue declines were primarily in
multiclient due to continued weakness for licensed data in the Gulf of
Mexico. Sequential revenue results also reflected decreases in Land
due to the completion of seasonal work in Alaska and lighter activity
in the Middle East and Africa, partially mitigated by increased Marine
revenue in Europe, Mexico and the Middle East. Year-on-year revenue
results were also impacted by the elimination of Land seismic
operations in North America; lower Land activity in the Middle East;
and lighter Marine activity in North America, Caspian and Asia,
partially offset by growth in the Middle East and in Mexico. The
decline in pretax profits year-on-year and sequentially was primarily
due to lower multiclient sales in North America, combined with higher
amortization charges.

Including multiclient pre-commitments, the backlog at the end of the
third quarter reached $333 million, a 14% increase over the second
quarter, with strong improvements in Middle East and Asia. Utilization
of Q-Marine vessels on 3rd party contracts increased to 75% during the
course of the current quarter principally due to projects in the Gulf
of Mexico, North Sea and West Africa.

During the quarter, an impairment charge of $398 million pretax was
taken against the multiclient library. In addition, there was a $54
million pretax charge on the Western Trident and Western Monarch
vessels. Third quarter pretax results benefited from lower multiclient
amortization ($15 million) following the impairment.

Highlights

-- Q(a) technology revenue continued to increase in the third quarter
with several new contracts including a Q-Marine 4D baseline survey in
the Smoerbukk South field in the Norwegian section of the North Sea
for Statoil, a Q-Marine survey for Amerada Hess, and additional
multiclient licenses of Q data in the Gulf of Mexico.

-- Other new business included a contract with Gaz de France to
perform the reservoir characterization using multicomponent (3C) and
3D acquisition and infield processing over several fields onshore
Algeria, and an extremely shallow 3D towed streamer operation in the
Caspian.

SchlumbergerSema

Operating revenue of $792 million in the third quarter was 6% lower
sequentially but 6% higher year-on-year. The year-on-year improvement
was mainly due to the strengthening of the European currencies against
the US dollar, with a positive impact of $50 million. The sequential
revenue decline was principally due to the seasonal effect of the
higher level of vacation taken in Europe.

Pretax operating income of $27 million increased $3 million, or 11%,
sequentially and $30 million year-on-year. The year-on-year
improvement was mainly due to a restructuring charge of $16 million
taken in the third quarter of last year and the benefit of significant
indirect cost reduction programs carried throughout the year in North
and South America, Asia and the UK. Sequential improvement was in the
UK, Sweden, Asia and North America, mainly due to the effect of
restructuring programs offset by a deterioration in France.

The activities to be transferred to Atos Origin, upon completion of
the transaction announced on September 22, had revenue of $633 million
and pretax operating income of $17 million in the third quarter.

Europe, Middle East and Africa

Operating revenue of $616 million decreased 6% sequentially but
increased 6% year-on-year. Year-on-year increase reflected the
positive impact of the Euro and Swedish Krona currencies appreciating
14% and the British Pound increasing 5% overall against the US dollar
partially offset by lower Telecom activity in Italy and Germany.
Excluding the positive currency impact, the sequential decrease was
mainly due to the high level of vacation days, especially in France,
Spain and Italy, and reduced activity with the Metropolitan Police in
the UK. This decreased activity was partially offset by the delivery
of the African Games contract in Nigeria.

Pretax operating income of $21 million decreased $4 million, or 15%,
sequentially and decreased $15 million, or 42%, year-on-year. The
year-on-year decrease was mainly due to lower utilization rates and
daily fee rates in France and lower profitability in Sweden and
Germany.

North and South America

Operating revenue of $128 million decreased 3% both sequentially and
year-on-year. The major contributor to decline was the continued weak
IT spending environment, primarily in the telecom and utility
industries, as potential customers revised their budget outlays
downwards and delayed decisions on major contract awards. Mitigating
this sluggish environment, the Energy segment showed positive
developments with several projects being added to the pipeline in
Latin America.

Pretax operating income of $5 million increased $1 million
sequentially and increased $7 million from a loss of $2 million last
year. Despite revenue decrease, pretax operating income increased
sequentially and year-on-year due to cost reduction programs carried
out in North America.

Asia

Revenue of $51 million was flat sequentially but decreased 2%
year-on-year. The Energy segment pipeline is building up with projects
such as helpdesk outsource services for BP in Indonesia, remote
connectivity for Petronas in Malaysia for their Algeria operations and
IT management system for Hindustan Petroleum Corporation in India.

Pretax operating income of $10 million increased $3 million
sequentially and increased $9 million year-on-year. The increases were
mainly due to indirect cost savings and improved gross margins.

Highlights

-- In October, SchlumbergerSema won a five-year contract in
partnership with Cerner to design, develop and manage a national
electronic booking service for the UK Department of Health.

-- Transpetro, the transportation company of Petrobras Group, awarded
SchlumbergerSema a contract to implement its DeXa.Badge(a) solution
for highly secure identity management and access control in its new
Operational Control Center in Rio de Janeiro, which controls and
monitors oil and gas flows in about 70% of Brazil's pipeline.

-- AT&T Wireless deployed the SchlumbergerSema Short Messaging Service
Center solution for GSM/GPRS phones and services in St. Lucia, St.
Vincent and the Grenadines; SchlumbergerSema is providing system
integration and consulting expertise to integrate new wireless
services as AT&T expands its business in the Caribbean.

-- SchlumbergerSema topped the list in the Telecom Billing and
Customer Care Installed Vendors Survey conducted by Chorleywood
Consulting, the leading telecom management consultancy.

-- SchlumbergerSema deployed a new settlement system for the UK rail
industry, which is capable of handling and allocating more than GBP3.5
billion in annual passenger revenue to Britain's passenger train
operators.

Other

On September 22, Schlumberger Smart Cards & Terminals changed its name
to Axalto to bring more visibility and reinforce the company image as
a leading smart card player.

Cards had operating revenue of $202 million and pretax operating
income of $22 million in the third quarter compared to $162 million
and $8 million, respectively, in the second quarter. Mobile
communication card deliveries increased significantly, with three
consecutive all-time monthly volume records. The average sales price
of subscriber identity module (SIM) cards increased by 14% compared
with the previous quarter due to important deliveries of very high-end
64K and 128K cards, mainly in Italy, Brazil, Russia, Romania, Saudi
Arabia and the Philippines. Other card activities were also
significant, driven by shipments for the banking conversion to the EMV
standard in the UK, strong e-purse deliveries in Malaysia, robust
pay-TV shipments in the US, and high volumes of phone cards and
scratch cards in China and Mexico.

Electricity Meters North America revenue of $77 million increased 30%
year-on-year, while pretax operating income was $18 million compared
to $5 million last year.

In October, Schlumberger signed an agreement to sell its parking
equipment and solutions activities (e-City) to Apax Partners.

About Schlumberger

Schlumberger is a global oilfield and information services company
with major activity in the energy industry. The company employs 78,000
people of more than 140 nationalities working in 100 countries and
comprises three primary business segments. Schlumberger Oilfield
Services is the world's premier oilfield services company supplying a
wide range of technology services and solutions to the international
oil and gas industry. WesternGeco, jointly owned with Baker Hughes, is
the world's largest and most advanced surface seismic company.
SchlumbergerSema is a leading supplier of IT consulting, systems
integration, and network and infrastructure services to the energy
industry, as well as to the public sector, telecommunications and
finance markets. In 2002, Schlumberger revenue was $13.2 billion. For
more information, visit www.slb.com.

(a) Mark of Schlumberger

Note: Supplemental information in the form of a question and answer
document on this press release is available at www.slb.com/ir.