Weatherford International Ltd. Applies to be Released from Reporting Issuer Obligations in Canada

    HOUSTON, Jan. 21 /CNW/ -- Weatherford International Ltd. (NYSE:   WFT)
announced today that is has submitted an application to the Autorite des
marches financiers, the regulatory authority of the financial markets in
Quebec, to be deemed to have ceased to be a reporting issuer in Quebec.
Currently, the Company is not a reporting issuer in any jurisdiction in Canada
other than Quebec.
    If relief is granted, the Company will not be a reporting issuer or the
equivalent in any jurisdiction in Canada but will continue to deliver its
continuous disclosure documents to the Company's existing Canadian security
holders as it has done previously.
    Weatherford 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 100
countries and employs more than 35,500 people worldwide.

     Contact:  Andrew P. Becnel           713-693-4136
               Chief Financial Officer

For further information:

For further information: Andrew P. Becnel, Chief Financial Officer of 
Weatherford International Ltd., +1-713-693-4136 Web Site:

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