Major Shareholding Disclosure in Petroleum Geo-Services ASA

UBS AG has fallen below the reportable treshold of 5%

of the share capital and of the voting rights in

Petroleum Geo-Services ASA (NO0010199151).

Name of the person obliged to notify: UBS AG, Zurich

and Basel

Date of event: 27 January 2010

Event triggering the notification: Disposal

New holding: 9'852'636 shares representing 4.98% of

the outstanding shares of 198'000'000.

Entities through which holdings are held: UBS AG, UBS

Financial Services Inc., UBS Fund Management

(Switzerland) AG, UBS Fund Services (Luxembourg) SA,

UBS Global Asset Management (Americas) Inc., UBS

Global Asset Management (Australia) Ltd., UBS Global

Asset Management (Canada) Co., UBS Global Asset

Management (Deutschland) GmbH, UBS Global Asset

Management (Hong Kong) Ltd, UBS Global Asset

Management (Japan) Ltd, UBS Global Asset Management

(Singapore) Ltd, UBS Global Asset Management (UK)

Limited, UBS Global Asset Management Life Limited,

UBS Global Asset Management Trust Company.

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