GGY Comp Gen Geophys

Compagnie G�n�rale de G�ophysique: Closing of Thales Seismic Equipment Business Acquisition by CGG PARIS, January 6 /PRNewswire/ -- Compagnie G�n�rale de G�ophysique (ISIN: FR0000120164; NYSE: GGY) announced today that on January 2, 2004 its wholly owned subsidiary Sercel finalised the acquisition of the seismic equipment business of Thales Underwater Systems (TUS), as previously announced on December 11, 2003. Principally located in Australia, this business includes the development and manufacturing of surface marine seismic acquisition systems, particularly solid streamers, and seabed marine seismic acquisition systems. The transaction is valued at EUR 25 million, of which EUR 22 million were paid in cash at the closing of the deal. TUS's seismic equipment business will be consolidated within the CGG Group from January 1, 2004 and should represent an additional yearly revenue of the order of the transaction value and a level of profitability similar to that of Sercel's present marine equipment activity. A total of 95 employees are joining Sercel, including, in particular, a highly skilled Research & Development Division and a manufacturing unit with a proven industrial expertise. Thierry LE ROUX, President of Sercel declared: "The arrival of the TUS seismic equipment business within SERCEL brings us 10 years of experience in the development of marine seismic equipment. Furthermore, the technological portfolio of TUS, especially in the seabed equipment domain, complements our know-how in this growing market." The information included herein contains certain forward-looking statements within the meaning of Section 27A of the securities act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. Actual results may vary materially. The Compagnie G�n�rale de G�ophysique group is a global participant in the oilfield services industry, providing a wide range of seismic data acquisition, processing and geoscience services and software to clients in the oil and gas exploration and production business. It is also a global manufacturer of geophysical equipment. Internet: www.cgg.com. DATASOURCE: Geophysique Christophe PETTENATI AUZIERE +33 1 64 47 36 75, Christophe BARNINI +33 1 64 47 38 10, Email: invrel@cgg.com,

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