Petroleum Geo-Services 4th Quarter and Year-end 2002 Earnings Release


OLSO, Norway, Feb. 21, 2003 (PRIMEZONE) -- Petroleum Geo-Services ASA ('PGS') (NYSE:PGO) (Oslo:PGS) expects to announce its fourth quarter and year-end 2002 financial results at 2 p.m. Central European Time (CET) on Wednesday, February 26, 2003.

A press conference will be arranged in the PGS offices at Lysaker, Oslo on Wednesday, February 26 at 2 p.m. CET. A presentation will be given to analysts at 3 p.m. CET in the same location. Live audio together with the presentation will be broadcasted over the PGS Website, www.pgs.com., starting promptly at 3 p.m. CET. Interested parties should go to the Website at www.pgs.com, at least 15 minutes early to register and to download and install any necessary audio software.

In conjunction with this announcement, Chief Executive Officer, Svein Rennemo, and Chief Financial Officer, Knut Oversjoen, will present the Company's financial results at a breakfast meeting in New York City on Tuesday, March 4, 2003, at the Inter-Continental Hotel The Barclay New York, 111 East 48th Street, in the Whitney Room, Lobby Level, from 8:00 a.m. to 9:00 a.m. Eastern Time.

To make your reservation (RSVP) for this breakfast presentation meeting, please register by fax to Suzanne McLeod at +1 281-589-1482 or send an e-mail to suzanne.mcleod@pgs.com by Friday, February 28, 2003.



            

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