Gary R. King Joins Parker Drilling Board of Directors

HOUSTON, Sept. 30 /PRNewswire-FirstCall/ -- Parker Drilling Company (NYSE: PKD) announced today that Gary R. King, 49, currently the chief executive officer of Dubai Natural Resources World and the former chief executive officer of the Dubai Mercantile Exchange, has been elected to the Parker Drilling Board of Directors. King's election brings the number of Parker Drilling Board members to nine, of whom seven are classified as Independent, including King.

"We are very pleased to welcome Gary, a major figure in the energy and finance sectors of the Middle East and a veteran corporate leader with extensive experience in strategic planning," said Robert L. Parker Jr., chairman and chief executive officer of Parker Drilling. "Gary's expertise will be invaluable as we continue to execute our strategic plan by expanding our international business."

King has nearly three decades of experience in international energy and finance. After his tenure at the Dubai Mercantile Exchange (DME), King was appointed chief executive officer of Dubai Natural Resources World. Prior to his role at the DME, King served in senior roles in the private equity sector at Macquarie Bank Ltd./Abu Dhabi Commercial Bank, Matrix Commodities DMCC, and Standard Bank London Ltd. from 2001 to 2005. From 1997 - 2001, King served in senior roles at Emirates National Oil Company, Dragon Oil PLC and Transcanada International Petroleum. From 1994 to 1997, King served as Vice President - Commodities Group for Morgan Stanley (Singapore). From 1983 to 1994, King served in a variety of roles within Exploration and Production and Oil Trading and Supply at Neste Oy (National Oil and Energy Company of Finland) after beginning his career as an exploration geologist in 1980.

King is also a member of the Board of Directors of Loon Energy Inc. (TSX: LEY).

King is a graduate of London University with a bachelor's degree in Petroleum Exploration Geology and a master's degree in Petroleum Exploration Geology from Imperial College, Royal School of Mines.

Parker Drilling Company (NYSE: PKD) 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.

SOURCE Parker Drilling Company

Released September 30, 2008