Disposal

    Schlumberger Limited

           Schlumberger to Sell SchlumbergerSema Businesses

  Strengthens Focus on Oilfield Services and Exploration & Production
                   Process and Information Solutions

Schlumberger Limited (NYSE:SLB) announced today the signing of a
binding agreement with Atos Origin for the sale of the majority of
SchlumbergerSema businesses.

The transaction proceeds would amount to approximately $1.5 billion
consisting of EUR400 million in cash and a fixed number of 19.3
million of Atos Origin common shares that represent approximately 29%
of the common shares outstanding of Atos Origin. Subsequent to
closing, Schlumberger expects to reduce its ownership in Atos Origin
to 19% following which Schlumberger intends to account for this
investment under the cost method. The closing, which is expected in
January 2004, is subject to Atos Origin shareholder approval,
customary regulatory approvals, the employee information and
consultation process, and other conditions. Using the Atos Origin
stock price and US dollar Euro exchange rate as of Friday, September
19th, Schlumberger expects no impairment charge to earnings for the
third quarter as a result of this transaction, though facts and market
conditions could alter this conclusion for this quarter and future
reporting periods.

Commenting on this transaction, Andrew Gould, Chairman and Chief
Executive Officer, said:

"The future for Schlumberger services to the upstream oil and gas
industry is exceptionally bright as the world adds new supply capacity
to meet demand and replace production from aging hydrocarbon
reservoirs. Key amongst the techniques required to enhance hydrocarbon
recovery will be the information technologies that enable real-time
reservoir description, monitoring and management.

Schlumberger has the fundamental IT knowledge needed and will address
these opportunities through the expanded Schlumberger Information
Solutions operating unit that is part of Schlumberger Oilfield
Services. The activities of this unit include technical consulting,
information management and Exploration & Production (E&P) software
augmented by E&P business process optimization together with secure
worldwide network connectivity from sub-surface to desktop."

Gould further stated:

"The global IT services industry is going through an important phase
of consolidation and the combination of the SchlumbergerSema IT
businesses with Atos Origin will create a leading European IT Services
company with broad presence and competence across the world."

Schlumberger will retain a number of specific SchlumbergerSema
businesses that include Business Continuity, Infodata - a Swedish
database company - and all software products related to the
SchlumbergerSema telecommunications activity. These, together with
smart cards, point-of-sale terminals, payment systems, eCity terminals
and payphones are being considered for divestiture or IPO.

Schlumberger Limited also announced charges to be taken in the third
quarter.

As previously announced, the company will record the second and final
after-tax charge of $86 million, which includes premium, issuing and
tender costs related to extinguishment of European debt.

In the light of current and expected future business conditions in the
seismic sector, the company has undertaken and completed an impairment
review of the WesternGeco multiclient library. As a result,
WesternGeco will record a pre-tax charge of $398 million. Schlumberger
will recognize an after-tax and minority interest charge of $205
million in the third quarter. Approximately 70% of the charge relates
to North American surveys.

                                  ###

Schlumberger will hold a conference call to discuss the above
announcement on Monday, September 22, 2003, at 9:00 am New York City
time (2:00 pm London time/3:00 pm Paris time). To access the call,
which is open to the public, please contact the conference call
operator at [phone] (toll-free) for North America, or
[phone] from outside North America, approximately 15 minutes
prior to the scheduled start time, and ask for the 'Schlumberger
Conference Call'. A replay will be available through September 29,
2003 by dialing [phone] in North America, or [phone]
outside North America, and providing the access code 699212.

The conference call will also be simultaneously webcast at
www.slb.com/irwebcast on a listen-only basis. Please log in 15 minutes
ahead of time to test your browser and register for the call. A replay
of the webcast will also be available through September 29, 2003.

Note:

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

For further information, please contact:

Doug Pferdehirt  
Vice President of Communications and Investor Relations  
          
Paulo Loureiro
Investor Relations Manager

Tel: [phone]
email: [e-mail]

Stephen Whittaker
Director of Communications
Tel: [phone]

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. In 2002,
Schlumberger operating revenue was $13.2 billion. For more
information, visit www.slb.com.

About Atos Origin

Atos Origin is an international information technology services
provider. Its business is turning client vision into results through
the application of consulting, systems integration and managed
operations, including outsourcing and on-line services. In August
2002, Atos Origin acquired KPMG Consulting in the UK and The
Netherlands, trading as Atos KPMG Consulting. The company generates
annual revenues of EUR 3 billion and employs 28,000 staff in 30
countries. The Group's client list includes major companies such as
ABN AMRO, Akzo-Nobel, Alstom, BNP Paribas, BP, Euronext, Fiat, ICI,
ING, KPN, Lucent, Philips, Renault, Royal Bank of Scotland, Saudi
Aramco, Shell, UBS Warburg, Unilever, Vivendi Universal, Vodafone and
Wolters Kluwer. For more information, please visit the company's web
site at www.atosorigin.com.