Reference is made to today's notice from Polarcus
Limited ("Polarcus"). Petroleum Geo-Services ASA
("PGS") has been allocated 48,346,153 Class B shares
in Polarcus pursuant to the resolutions passed at
Polarcus' extraordinary general meeting. After
allocation of Class B shares PGS will hold 9.11% of
the shares and votes in Polarcus. PGS does not hold
other shares or rights to shares in Polarcus.
This announcement is made pursuant to section 4-3 of
the Norwegian Securities Trading Act.