Petroleum Geo-Services ASA : Petroleum Geo-Services ASA : Exercise of employee share options

Petroleum Geo-Services ASA : Petroleum Geo-Services ASA : Exercise of employee
                                share options



1. Employees in PGS have on February 20, 2013 exercised a total number of 93
585 options. Following the exercise, 93 585 shares will be transferred from
Petroleum Geo-Services holding of own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 922 022 own
shares.

2. Options exercised by primary insiders on February 20, 2013:

Tore D. Langballe has exercised 25 000 options in the Company, corresponding
to 25 000 shares at the strike price of NOK 39.19.

3. Transfer of rights

On February 20, 2013, the primary insider mentioned below transferred the
rights to receive shares resulting from the exercise of options to a third
party. The payment was determined based on a selling price of NOK 96.6527 per
right.
Tore D. Langballe transferred 25 000 rights.

4. New holding

After exercising options, Tore D. Langballe holds 40000 unexercised options
in the Company, corresponding to 40000 shares at the strike price of NOK
131.95, 20000 unexercised options in the Company, corresponding to 20 000
shares at the strike price of NOK 77.29, 20000 unexercised options in the
Company, corresponding to 20 000 shares at the strike price of NOK 76.02 and
8000 restricted share units in the Company. As of today the primary insider
holds 4 072 shares in the company.

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

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Source: Petroleum Geo-Services ASA via Thomson Reuters ONE
HUG#1679721
 
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