HOUSTON -- About 500 protesters gathered outside Halliburton Co.'s annual shareholders meeting Wednesday and five were arrested for trespassing.

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Halliburton Protesters: 'Oil Is Not Worth Human Blood'

The five -- four men and a woman -- went to the third floor of the Four Seasons Hotel in Houston shortly before Halliburton's 37-minute meeting began and shouted various chants, such as "Oil is not worth human blood" and "Make more ethical investment decisions."

Several police officers arrived, temporarily handcuffed the protesters to brass railings, and led them outside. They left peacefully.

The meeting drew protests outside the hotel as well because of the oil services conglomerate's role as a major U.S. contractor in Iraq and its ties to the Bush administration.

The protest generated no arrests outside and began to disperse after about two hours, police said.

Halliburton has come under attack recently for a string of scandalous allegations. On Tuesday, the government said the company has overcharged the Army $160 million for food services.

"I disagree with the allegations from the auditors," Halliburton chief executive officer Dave Lesar said.

Lesar also said that better times are ahead, saying profitability will improve despite a $65 million loss last quarter.

The CEO dismissed the protest as politics.

"A lot of those individuals oppose the war. I am a big believer in free speech," Lesar said.

Thirty-five Halliburton employees have been killed and 100 have been wounded while working in Iraq.