Dividend Declaration

    Schlumberger Ld.

        Schlumberger Declares Quarterly Dividend

The Board of Directors of Schlumberger Limited (NYSE:SLB) has declared a
quarterly dividend of 18.75 cents per share on outstanding stock. The dividend
is payable on April 8, 2004 to stockholders of record on February 25, 2004.

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.

    CONTACT: Schlumberger, New York
             Paulo Loureiro, 212-350-9432
             [e-mail]