* Corr - Major Shareholding Disclosure in Petroleum Geo-Services ASA

UBS AG has fallen below the reportable treshold of 5%
of the share capital and of the voting rights in
Petroleum Geo-Services ASA (NO0010199151).

Name of the person obliged to notify: UBS AG, Zurich
and Basel
Date of event: 27 January 2010
Event triggering the notification: Disposal
*Total disposed shares: 561058
New holding: 9'852'636 shares representing 4.98% of
the outstanding shares of 198'000'000.
Entities through which holdings are held: UBS AG, UBS
Financial Services Inc., UBS Fund Management
(Switzerland) AG, UBS Fund Services (Luxembourg) SA,
UBS Global Asset Management (Americas) Inc., UBS
Global Asset Management (Australia) Ltd., UBS Global
Asset Management (Canada) Co., UBS Global Asset
Management (Deutschland) GmbH, UBS Global Asset
Management (Hong Kong) Ltd, UBS Global Asset
Management (Japan) Ltd, UBS Global Asset Management
(Singapore) Ltd, UBS Global Asset Management (UK)
Limited, UBS Global Asset Management Life Limited,
UBS Global Asset Management Trust Company.