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Weatherford Acquires CAC, Inc.

Houston, April 23, 2001

Weatherford(NYSE: WFT) announced today that it has acquired the assets of CAC Inc., a subsidiary of Thermo Electron Corporation. CAC is primarily focused on design, engineering and manufacturing of automation, optimization and control system technologies for onshore and offshore oil and gas production. CAC has a thirty-year history in serving the oil and gas industry, is strongly positioned in markets served and has operational capabilities in North America, South America, Europe and the Middle East. CAC will be added to Weatherford's expanding positions in intelligent production systems for completion and artificial lift.

CAC's Remote Terminal Unit (RTU) and Artificial Lift Controller products have been installed on over 20,000 wells in more than 20 countries. CAC adds significant capabilities to Weatherford's production automation and optimization systems offerings and enhances its solutions capabilities. Weatherford is focused on deploying intelligent artificial lift and intelligent completion systems that will improve overall lifting costs, optimize reservoir flow and achieve ultimate recovery of oil and gas for its clients. Weatherford has the capability to electronically deliver well production systems performance to a client's desktop on a worldwide basis.

Houston-based Weatherford (www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 11,500 people worldwide.

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