Exercise of employee share options in PGS

Employees in PGS have on May 14, 2012 exercised a total number of 8 666
options. Following the exercise, 8 666 shares will be transferred from Petroleum
Geo-Services holding of own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 956 797 own
shares.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1612170]