Wavefield Inseis ASA (OSL:WAVE) Mandatory Notification Of Trade

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

The CEO of Wavefield Inseis ASA "Wavefield", Atle Jacobsen, has today, personally and through the company Three M AS which he controls, accepted to exchange 624,167 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 acceptance is, however, made on the condition that the offer is accepted by shareholders holding more than 66.6 % of the shares in Wavefield. The shares subject to the acceptance comprise all his shares (held directly or indirectly) in Wavefield. Following the acceptance, Atle Jacobsen holds 125,000 options giving right to acquire 125,000 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