PGS SECOND QUARTER 2003 EARNINGS RELEASE


A press conference will be arranged in the PGS offices at Lysaker, Oslo today Tuesday August 19 at 3:30 p.m. CET. A presentation will be given to analysts at 4:30 p.m. CET (10:30 a.m. ET) in the same location. Live audio together with the presentation will be broadcasted on the PGS web site, starting promptly at 4:30 p.m. CET. Please go to: www.PGS.com and click on the link, at least 15 minutes before, to register and download and install any necessary audio software.

Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSO's). PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services visit www.pgs.com.

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