Parker Drilling Schedules Third Quarter 2008 Earnings Release and Conference Call

HOUSTON, Oct. 14 /PRNewswire-FirstCall/ — Parker Drilling Company announced today it intends to report its financial results for the Third Quarter 2008 on Wednesday, Nov. 5. The Company expects to issue its earnings report that morning and will follow with a conference call at 10:00 a.m. CST (11:00 a.m. EST). Those interested in listening to the call by telephone may do so by dialing (303) 262-2053. Alternatively, the call can be accessed live through the Investor Relations section of the Company’s Web site at http://www.parkerdrilling.com/.

A copy of the earnings report and related information will be available on the Company’s Web site. A replay of the call can be accessed on the Company’s Web site for 12 months, or by telephone from Nov. 5 through Nov. 12 by dialing (800) 405-2236 and using the access code 11120913#.

Parker Drilling Company provides high-performance contract drilling solutions, rental tools and project management services to the worldwide energy industry. Parker operates 28 land rigs in strategic international markets and 17 offshore barge rigs, primarily in the coastal waters of the U.S. Gulf of Mexico. The Company’s Quail Tools division rents premium equipment to operators in active land and offshore markets in North America. Founded in 1934, Parker has set numerous world records for deep and extended-reach drilling and is an industry leader in safety performance. More information about Parker Drilling can be found at http://www.parkerdrilling.com/.

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Parker Drilling Company

CONTACT: Investors, Rich Bajenski of Parker Drilling Company,+1-281-406-2030

Web site: http://www.parkerdrilling.com/