Press Releases

Wavefield Inseis ASA (OSL:WAVE) Oslo, Norway, 12th December 2008

The following primary insiders of Wavefield Inseis ASA "Wavefield" have today accepted to exchange shares in Wavefield for shares in Compagnie Générale de Géophysique-Veritas SA ("CGG") under the terms of the offer launched by CGG and as set forth in the offer document published on 25 November 2008:

Anders Farestveit- Acceptance for 8,509,000 of Wavefield shares held personally and through the company Anfar Invest AS in which he controls, comprising all his shares in Wavefield. Following the acceptance, Anders Farestveit holds personally and through the company Anfar Invest AS 0 shares in Wavefield and 250 000 options giving right to acquire 250 000 shares in Wavefield.

Carl Rune Berg - Acceptance for 57 000 of Wavefield shares held personally comprising all his shares in Wavefield. Following the acceptance, Carl Rune Berg holds personally 0 shares in Wavefield and 75 500 options giving right to acquire 75 500 shares in Wavefield.

Morten Eriksrud - Acceptance for 30 000 of Wavefield shares held personally and through the company Saturnos AS which he controls, comprising all his shares in Wavefield. Following the acceptance, Morten Eriksrud holds personally and through the company Saturnos AS 0 shares in Wavefield and 75 000 options giving right to acquire 75 000 shares in Wavefield.

Jan B. Gateman being a primary insider of Wavefield Inseis ASA "Wavefield", has today, trough the company Geo Innova AS which he partially controls, accepted to exchange 5.137.000 shares in Wavefield for shares in Compagnie Générale de Géophysique-Veritas SA "CGG" under the terms of the offer launched by CGG and as set forth in the offer document published on 25 November 2008. The shares subject to the acceptance comprise all his shares in Wavefield. Following the acceptance, Jan B. Gateman holds personally and through the company Geo Innova AS 0 shares in Wavefield and 70.000 options giving right to acquire 70.000 shares in Wavefield.

For further information, contact: Bente Tomasik, IR assistant, Wavefield Inseis ASA Tel: +47 67 82 84 21, Email: bente.tomasik@wavefield-inseis.com

About Wavefield Inseis ASA Wavefield Inseis ASA is a Norwegian marine geophysical company providing proprietary data acquisition services and offers a portfolio of non-exclusive Multi Client data to the global exploration community, developed in partnership with oil companies and governments. Our range of products includes long offset 2D, high capacity 3D, 4D, Multi-azimuth and Wide-azimuth data acquired with highly specified vessels and the latest seismic equipment, including our OPTOWAVE(TM) multi-component ocean bottom cable (4C OBC) system for permanent seismic 4D monitoring that uses optical sensor technology. We are also in the process of launching a new concept for EM acquisition and data analysis. From our main offices in Bergen and Oslo, Norway, and our other locations in London, Houston, Singapore and Perth, Wavefield Inseis has a global reach, with activities world wide.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Wavefield Inseis ASA

http://www.wavefield.no

ISIN: NO0010295504

Stock Identifier: XOSL.WAVE