Filer: Nabors Industries Ltd.
                                       Pursuant to Rule 425 under the
                                       Securities Act of 1933 and Rule 14a-6
                                       under the Securities Exchange Act of 1934
                                       Subject Company: Nabors Industries, Inc.
                                       Commission File No.: 1-09245
                                       Registration Statement No.: 333-76198

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[NABORS INDUSTRIES LOGO]                                  NABORS INDUSTRIES INC.
                                                            515 West Greens Road
                                                       Houston, Texas 77067-4529
                                                                    281-874-0035
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NEWS RELEASE
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              NABORS INDUSTRIES COMMENTS ON PENSION FUND STATEMENTS

HOUSTON, JUNE 6, 2002 - Nabors Industries, Inc. (AMEX: NBR) issued the following
statement in response to comments made in a press release issued today by
Central Laborers' Pension Fund and related union entities:

         We are disappointed that Central Laborers' Pension Fund and some
         related shareholders do not recognize the benefits our proposed
         reorganization offers to all stakeholders. We believe this
         reorganization will facilitate growth, and enhance value, by enabling
         Nabors to gain business, financial, tax and strategic advantages that
         are not available under our current corporate structure.

         On May 31st, Institutional Shareholder Services (ISS), the country's
         leading independent proxy advisory service and a recognized expert on
         corporate governance matters, issued a recommendation to its clients to
         vote FOR the Nabors reorganization. In its exhaustive report, ISS
         concluded that the reorganization offers improved value for all
         stakeholders while maintaining stakeholder rights and director
         accountability. The May 31st report states:

            "We conclude that there are sufficient protections embodied in
            Bermuda law to preserve director and officer accountability and
            provide mechanisms for redress. This is further reinforced by the
            company's recent efforts to bolster accountability and improve its
            corporate governance structure by committing to creating an
            independent nominating committee and to adding an additional
            independent director to the board so that a majority of directors
            are independent outsiders.... In view of these factors, ISS believes
            this reincorporation is consistent with our objective of striking a
            balance between economic gains and the preservation of shareholder
            rights."

         Nabors' Board of Directors and management continue to believe that the
         proposed reorganization provides an important opportunity to improve
         value for all of the Company's stakeholders.

A special stockholders meeting to vote on the reincorporation of the company
will be held on June 14, 2002.

The Nabors companies own and operate over 530 land drilling and 933 land
workover and well-servicing rigs worldwide. Offshore, Nabors operates 44
platform, 15 jack-ups, and three barge rigs in the domestic and international
markets. Nabors also operates 30 marine transportation and support vessels in
the Gulf of Mexico. In addition, Nabors manufactures top drives and drilling
instrumentation systems and provides comprehensive oilfield hauling,
engineering, civil construction, logistics and facilities maintenance, and
project management services. Nabors participates in most of the significant oil,
gas and geothermal markets in the world.

A registration statement for Nabors Industries Ltd., including the proxy
statement/prospectus, and a supplement thereto, have been filed with the
Securities and Exchange Commission and are available for free at the SEC's
website, www.sec.gov and at Nabors Industries, Inc.'s website, www.nabors.com.
These documents contain important information that investors should consider.
Investors should read these documents carefully.

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         Nabors Industries, Inc. stock is listed on the American Stock Exchange
         (NBR). For further information, please contact Dennis A. Smith,
         Director of Corporate Development at (281) 775-8038. To request
         Investor Materials, call Angela Ridgell at (281) 775-8063.