Filer: Nabors Industries Ltd.
Pursuant to Rule 425 under the
Securities Act of 1933 and Rule 14a-6
under the Securities Exchange Act of 1934
Subject Company: Nabors Industries, Inc.
Commission File No.: 1-09245
Registration Statement No.: 333-76198
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[NABORS INDUSTRIES LOGO] NABORS INDUSTRIES INC.
515 West Greens Road
Houston, Texas 77067-4529
281-874-0035
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NEWS RELEASE
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ISS RECOMMENDS SHAREHOLDERS VOTE "YES" FOR NABORS
REINCORPORATION PLAN
HOUSTON, TEXAS - June 4, 2002 - Nabors Industries, Inc. (AMEX: NBR) today
announced that Institutional Shareholders Services Inc. ("ISS"), the country's
leading independent proxy advisor, has formally recommended that Nabors'
shareholders vote in favor of the company's reincorporation to Bermuda.
Gene Isenberg, chairman and chief executive officer of Nabors, said, "We are
very pleased to have received this independent endorsement to reincorporate the
company in Bermuda. We remain committed to this important step for the company
and its stakeholders and look forward to implementing the reorganization."
A special stockholders meeting to vote on the reincorporation of the company
will be held on June 14, 2002.
The Nabors companies owns and operate over 500 land drilling and 740 land
workover and well-servicing rigs worldwide. Offshore, Nabors operates 44
platform, 15 jack-ups, and three barge rigs in the domestic and international
markets. Nabors also operates 30 marine transportation and support vessels in
the Gulf of Mexico. In addition, Nabors manufactures top drives and drilling
instrumentation systems and provides comprehensive oilfield hauling,
engineering, civil construction, logistics and facilities maintenance, and
project management services. Nabors participates in most of the significant
oil, gas and geothermal markets in the world.
A registration statement for Nabors Industries Ltd., including the proxy
statement/prospectus, has been filed with the Securities and Exchange
Commission and is available for free at the SEC's website, www.sec.gov. and at
Nabors Industries, Inc.'s website, www.nabors.com. These documents contain
important information that investors should consider. Investors should read
these documents carefully.
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For further information, please contact Dennis A. Smith, Director of Corporate
Development at (281) 775-8038. To request Investor Materials, call Angela
Ridgell at (281) 775-8063. Nabors' address is 515 West Greens Road, Suite 1200,
Houston, Texas, 77067.