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HOUSTON–(BUSINESS WIRE)–March 20, 2003–ABB Offshore Systems
(NYSE:ABB) and Input/Output (NYSE:IO) announced today that they have
signed an Alliance Agreement to jointly pursue the worldwide market
for permanently deployed ocean-bottom seismic monitoring systems.

According to R. Rasmus Sunde, president of ABB Offshore Systems,
“This alliance combines ABB’s leading expertise in designing, testing,
manufacturing and commissioning subsea infrastructure with
Input/Output’s superior VectorSeis(R) seismic imaging technology.”

Sunde continues, “During conventional 4D surveys, marine streamers
are towed behind an acquisition vessel. 4D streamer acquisition has
become well proven in provinces such as the North Sea. In contrast,
permanently deployed ocean-bottom cable (OBC) networks place seismic
sensors directly on the seabed. This method improves frequency content
and repeatability of 4D surveys compared to streamer acquisition, and
enables shear wave collection for enhanced reservoir characterization.
Our mandate will be clearly focused on reducing the historically high
costs of OBC acquisition while improving data quality and
reliability.”

Input/Output’s unique sensor technology is based on a proprietary
micro-electro-mechanical systems (MEMS) sensor that, along with
patented I/O cable decoupling technology, yields improved reservoir
imaging. Integration of I/O’s new sensors with ABB’s subsea
infrastructure will optimize the equipment required to support the
solution.

Larry Denver, Reservoir Operations vice president for
Input/Output, explains, “Permanent OBC systems measure reservoir
responses to production and provide both active and passive seismic
data. Timely access to this information by operators can substantially
improve reservoir management.”

Denver emphasises, “Based on our successful prototype system
deployment last fall in the North Sea, we are moving quickly to
materially improve OBC capabilities. This alliance forms the
cornerstone for building these capabilities and attracting other
best-in-class providers to participate in an overall solution.”

About ABB

ABB Offshore Systems is a global supplier to the oil and gas
industry where it undertakes large projects and supplies products and
systems for oil & gas field developments and operations worldwide, on
and offshore, subsea and surface. Capabilities also include processing
and interpretation of micro-seismic data.

The ABB Oil, Gas and Petrochemicals division focuses on systems,
products and services for oil and gas exploration and development,
refineries and petrochemical plants worldwide. The division employs
approximately 13,000 people.

ABB (www.abb.com) is a global leader in power and automation
technologies that enable utility and industry customers to improve
performance while reducing environmental impact. ABB has 140,000
employees in more than 100 countries.

About Input/Output

Input/Output Inc. is a major provider of seismic equipment and
acquisition imaging technology for land, marine, transition zone
exploration, production and reservoir monitoring. The company
specializes in technology that creates value for the energy industry
in the areas of 2D, 3D, 4D and multi-component seismic data. I/O has
facilities in the USA, Canada, Europe, Russia, China, India and the
Middle East. Additional information about Input/Output Inc. is
available at www.i-o.com, or via e-mail at info@i-o.com.

The information included herein contains 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. Actual
results may vary fundamentally from those described in these
forward-looking statements. All forward-looking statements reflect
numerous assumptions and involve a number of risks and uncertainties.
These risks and uncertainties include risk factors that are disclosed
by I/O from time to time in its filings with the Securities and
Exchange Commission.

CONTACT:
ABB Offshore Systems, Houston
Brian Drakeley, 713/821-4802
Brian.Drakely@us.abb.com
or
Input/Output Inc., Houston
Joe Jacquot, 281/879-3683
JJacquot@I-O.com
or
ABB Offshore Systems
Magnar Hjollo, +47 51634753
magnar.hjollo@no.abb.com