CGG Acquires Small Stake in PGS



CGG has accumulated 7.51% of the outstanding shares of PGS in open market purchases. As a leading seismic company, it is CGG's long term objective to work towards a consolidation in the seismic industry. CGG's exposure to PGS is limited to its holding of PGS shares.

CGG wishes to express support for the PGS board proposal announced 25th September 2002 by the Umoe group for election at the Extraordinary General Meeting scheduled for Friday 27th September 2002.