PGS ASA

Disclosure of Shareholding

Ferd AS has on December 11 2014 acquired 11 256 531

shares in Petroleum Geo-Services ASA (PGS). Ferd AS

holds an aggregate of 21 997 800 shares in PGS post

acquisition, corresponding to 10,1% of the shares.

Ferd AS has through the acquisition crossed the 5%

and the 10% threshold in PGS.

Ferd AS considers PGS to be a strong company that has

built a leading position over many years in the

seismic industry. Based on Ferd's assessment of PGS,

there are substantial underlying values in the

Company both in terms of a modern and cost-efficient

fleet, an attractive multiclient library and a strong

technology platform, making PGS well equipped to

continue to develop its position as a leading global

player also in a challenging market.

Ferd AS wishes to contribute actively to this

development, and will in an ordinary manner promote

their views to the Company's Nomination Committee.

Ferd AS is a Norwegian family owned industrial and

financial group that is an active and long term

investor in strong companies. Ferd has a solid

financial position with a value adjusted equity of

approximately NOK 25bn as of 30.06.14. www.ferd.no/en

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