CGG Announces Conversion of Nearly 82% of its Convertible Bonds Due 2012

PARIS, November 21  /PRNewswire-FirstCall/ -- Compagnie Generale de Geophysique (ISIN: FR0000120164 ; NYSE: GGY) today announces the conversion of nearly 82% of its Convertible Bonds due 2012.

The amendment to the terms of the convertible bonds announced on October 17 2005, having been approved by the General Meeting of bondholders held on November 2, 2005, was approved by a General Meeting of CGG shareholders held on November 16, 2005. The early conversion period was open from November 17 to November 18 2005, inclusive.

At the conclusion of the conversion period, 11,475 convertible bonds due 2012 were converted, leading to the issuance of 1,147,500 new shares.

2,525 convertible bonds remain outstanding.

This press release does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. The securities referred to in this press release have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

  Contact:
  Christophe Barnini
  [phone]/[phone]
  Email : 

DATASOURCE: Compagnie Generale de Geophysique (CGG)



CONTACT:  Christophe Barnini, Tel:

+(33)-1-64-47-38-10/[phone], Email : 

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