Press Releases

TGS-NOPEC Geophysical Company ASA (TGS) ordinary general meeting held

The Ordinary General Meeting of TGS was held on 3 June 2010. Thirteen of the fourteen resolutions proposed were approved by the shareholders including "Guidelines for Determination of Compensation of Executive Personnel". Resolution number eleven, "Approval of the stock option plan and resolution to issue free-standing warrants", obtained 63.5% of the shareholder votes but did not obtain the required two thirds qualified majority. The TGS Board continues to believe that long-term compensation is a critical component in attracting and retaining its highly qualified and specialized staff. To this end, the Board of Directors will evaluate alternative mechanisms and implement a plan to deliver long-term performance-driven compensation to key employees in 2010.

The general meeting approved the payment of a dividend of NOK 4 per share of outstanding common stock from the Company's 2009 earnings, of which NOK 2 per share is a non-recurring distribution. The dividend will be paid to the shareholders who are registered shareholders of TGS as of 3 June 2010. The shares in TGS will be quoted ex-dividend from 4 June 2010. The dividend will be paid 21 June 2010.

For the minutes of the Ordinary General Meeting, click here.

About TGS

TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

Sven Børre Larsen

Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Ellen Munkvold

Ellen Munkvold

IR Coordinator

Tel: +47 97 76 26 25