We received and responded to an inquiry in mid-2001 from the Office of Foreign Assets Control (OFAC) of the United States Treasury Department with respect to operations inIranby a Halliburton subsidiary incorporated in theCayman Islands.

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However, investigations into the bank by other authorities including the Department of Justice and the Office of Foreign Assets Control continue, and "this lone settlement does not draw a line through the matter, " Symonds said.

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Following the allegations earlier this year, the bank was negotiating with the Fed Bank of New York, the Office of Foreign Assets Control (OFAC), the District Attorney of New York's Office and the Department of Justice.

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