Helmerich & Payne, Inc. Invites You to Join Its First Quarter Conference Call On the Web.

In conjunction with Helmerich & Payne, Inc.'s First Quarter Earnings Release, you are invited to listen to its conference call that will be broadcast live over the Internet on Wednesday, January 22, 2003, at 3:00 p.m. (ET) with Hans Helmerich, President and CEO; George Dotson, President, Helmerich & Payne International Drilling; and Doug Fears, Vice President, Finance and CFO of Helmerich & Payne, Inc.

    What:     Helmerich & Payne, Inc.'s First Quarter Earnings Release     When:     3:00 p.m. ET (2:00 p.m. CT), Wednesday, January 22, 2003     Where:    http://www.firstcallevents.com/service/ajwz371442681gf12.html     How:      Live over the Internet -- Simply log on to the web at the              address above     Contact:  Doug Fears, Vice President, Finance and CFO of Helmerich &              Payne, Inc. 918/748-5208   

Helmerich & Payne, Inc. is a contract drilling company that owns 72 U.S. land rigs, 12 U.S. platform rigs located in the Gulf of Mexico, and 33 rigs located in South America, or a total of 117 rigs. Of the 72 U.S. land rigs currently available, 32 are the H&P-designed FlexRig(TM). The Company is scheduled to complete the construction of an additional 11 FlexRigs(TM) to be put in service over the next 6 to 9 months.

(Minimum Requirements to listen to broadcast: The Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp , and at least a 28.8 Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to webcastsupport@tfprn.com . If you are unable to listen during the live webcast, the call will be archived on both the website listed above and also on Helmerich & Payne, Inc.'s website at www.hpinc.com under 'Investors Relations Information'.

The information to be disclosed in the conference call and webcast shall include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by H&P from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, H&P's actual results may differ materially from those indicated or implied by such forward-looking statements.

CONTACT: Doug Fears, Vice President, Finance and CFO of Helmerich & Payne, Inc., +1-918-748-5208

Web site: http://www.hpinc.com/