REG-Schlumberger Limited Schlumberger Receives U.S. Antitrust Second Request

http://www.businesswire.com/news/home/20100405006356/en

LONDON--(Business Wire)--

Schlumberger Limited (NYSE: SLB) announced today that it has received a request
for additional information, commonly known as a "second request," from the
Antitrust Division of the United States Department of Justice in connection with
the proposed merger with Smith International, Inc. While a definitive date
cannot yet be determined related to the eventual closing of the transaction,
Schlumberger maintains the expectation of this occurring during the second half
of this year.

About Schlumberger

Schlumberger is the world`s leading supplier of technology, integrated project
management and information solutions to customers working in the oil and gas
industry worldwide. Employing approximately 77,000 people representing over 140
nationalities and working in approximately 80 countries, Schlumberger provides
the industry`s widest range of products and services from exploration through
production.

Schlumberger Limited has principal offices in Paris, Houston and The Hague and
reported revenues of $22.70 billion in 2009. For more information, visit
www.slb.com.

Forward-Looking Statements

This material includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The opinions, forecasts,
projections, or other statements other than statements of historical fact, are
forward-looking statements. The Company can give no assurance that such
expectations will prove to have been correct. These statements are subject to,
among other things, satisfaction of the closing conditions to the merger, the
risk that the contemplated merger does not occur, negative effects from the
pendency of the merger, the ability to successfully integrate the merged
businesses and to realize expected synergies and other risk factors that are
discussed in Schlumberger`s and Smith`s most recent 10-Ks as well as each
company`s other filings with the SEC available at the SEC`s Internet site
(http://www.sec.gov). Actual results may differ materially from those expected,
estimated or projected.

Forward-looking statements speak only as of the date they are made, and we
undertake no obligation to publicly update or revise any of them in light of new
information, future events or otherwise.

Additional Information

STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND REGISTRATION
STATEMENT REGARDING THE PROPOSED TRANSACTION WHEN IT BECOMES AVAILABLE BECAUSE
IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. These
documents will contain important information about the proposed transaction that
should be read carefully before any decision is made with respect to the
proposed transaction. These materials will be made available to the shareholders
of Smith at no expense to them. Investors and security holders will be able to
obtain the documents (when available) free of charge at the SEC`s web site,
www.sec.gov. In addition, such materials (and all other documents filed with the
SEC) will be available free of charge at www.smith.com or www.slb.com. Such
documents are not currently available. You may also read and copy any reports,
statements and other information filed by Smith or Schlumberger 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 (800) 732-0330 or visit the SEC`s website for
further information on its public reference room.

Each company`s directors and executive officers and other persons may be deemed,
under SEC rules, to be participants in the solicitation of proxies in connection
with the proposed transaction. Information regarding Schlumberger`s directors
and officers can be found in its proxy statement filed with the SEC on March 4,
2010 and information regarding Smith`s directors and officers can be found in
its proxy statement filed with the SEC on April 13, 2009. Additional information
regarding the participants in the proxy solicitation and a description of their
direct and indirect interests in the transaction, by security holdings or
otherwise, will be contained in the proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available.

Schlumberger Limited
Investors
Vice President of Investor Relations
Malcolm Theobald, +1 (713) 375-3535
investor-relations@slb.com
or
Media
Director of Corporate Communications
Stephen Whittaker, + 33 1 4062 1330
swhittaker@slb.com

Schlumberger Limited

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