Date: 7 July 2008

NEWS RELEASE BY PETROLEUM GEO-SERVICES REGARDING CGGVERITAS` LAWSUIT AGAINST ARROW SEISMIC ASA


Reference is made to a news release by Petroleum Geo-Services regarding CGGVeritas' lawsuit against Arrow Seismic ASA. GC Rieber Shipping ASA has noted the contents of the release. GC Rieber Shipping will regard any action against it by PGS in connection with the matter to be without merit.
 
For further information, please contact:
CEO Sven Rong, phone +47 55 60 68 18, or +47 90 55 49 52
CFO Hans Petter Klohs, phone +47 55 60 68 24, or +47 90 75 05 26