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ORANGE COUNTY BRIEFLY

August 03, 1995

Penhall International, Inc.: The privately held Anaheim company and Newpark Resources Inc. of Metairie, La., said Wednesday they have ended merger discussions. The companies announced a $73.6-million merger in which Penhall shareholders would have received 3.64 million shares of Newpark Resources common stock. Newpark Resources said the two companies plan to jointly explore areas where they can work together, especially in the industrial waste services market. Penhall provides specialized diamond cutting, grinding, safety grooving, breaking, excavation, removal and recycling of concrete. Newpark Resources provides integrated environmental and oil field services to the natural gas exploration and production industry.

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