Benjamin F. Bailar
Dean and H. Joe Nelson, III Professor of Administration Emeritus,
Jesse H. Jones
Graduate School of Administration,
Rice University

G. Clyde Buck
Managing Director, Houston Corporate
Office of Dain Rauscher Incorporated

Loren K. Carroll
Executive Vice President of the Company

James R. Gibbs
President and Chief Executive Officer of
Wainoco Oil Corporation

Jerry W. Neely
Former Chairman of the Board and
Chief Executive Officer of Smith
International, Inc.

H. Moak Rollins
Consultant

Executive Officers
Doug Rock
Chairman of the Board and
Chief Executive Officer

Loren K. Carroll
Executive Vice President

Neal S. Sutton
Senior Vice President - Administration,
General Counsel and Secretary

John J. Kennedy
Senior Vice President,
Chief Financial Officer and Treasurer

Loren K. Carroll
President and Chief Executive Officer,
M-I L.L.C.

D. Barry Heppenstall
President, Smith Tool

Richard A. Werner
President, Smith Drilling & Completions

Corporate Officers
Margaret K. Dorman
Vice President, Controller and
Assistant Treasurer

Peter D. Nicholson
Vice President, Human Resources

W. Lynn Perrin
Vice President, Information Technology

Earl M. Springer
Vice President, Business Development

Geri D. Wilde
Vice President, Taxes and Assistant Treasurer

World Wide Web Address
www.smith-intl.com

Investor Relations Contact
Copies of the annual report, quarterly reports and other Company literature may be obtained by writing or calling John J. Kennedy, Senior Vice President, Chief Financial Officer and Treasurer, or by clicking here.

Annual Meeting
The Company's Annual Meeting of Shareholders will be held at 10:00 a.m. (CST) on Wednesday, April 22, 1998, at the Wyndham Hotel Greenspoint, 12400 Greenspoint Drive, Houston, Texas

Common Stock Listings
New York Stock Exchange, Inc.
New York, New York
Pacific Stock Exchange, Inc.
Los Angeles and San Francisco,
California
Trading Symbol: SII

Transfer Agent and Registrar
First Chicago Trust Company
of New York
14 Wall Street, Suite 4680
New York, New York 10005
800-756-8200