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ION Subsidiary to Provide Advanced Seismic Imaging Services for Polarcus
and Its Customers

HOUSTON, March 9 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) today announced that its seismic imaging subsidiary, GX Technology
(GXT), has signed an agreement with The Polarcus Group of Companies (Polarcus)
for the provision of seismic data processing services. This agreement
includes onboard quality control (QC), onboard processing, and land-based data
processing (DP) services. The agreement calls for GXT to provide hardware,
software and geophysicists in order to support a seismic project’s entire
imaging lifecycle, from the vessel to an onshore data processing center.

Nick Bernitsas, Senior Vice President of ION’s GXT Imaging Solutions
division, commented, “Many marine seismic contracts tendered by oil & gas
companies specify that both acquisition and data processing services be
delivered within a single contract structure. The arrangement that we agreed
to will allow GXT to quality control and, where required, to pre-process all
seismic data acquired on-board the Polarcus vessels and to be the exclusive
‘behind-the-boat’ processing partner for advanced imaging services specified
in full-scope contract awards. This is GXT’s first arrangement of this type.
It leverages our existing geophysical technology to provide us with an
additional source of revenue moving forward. We are delighted to have been
selected by Polarcus as their data processing services partner.”

Polarcus is a new entrant in the marine seismic market with plans to
launch six state-of-the-art towed streamer vessels, with the first boat
launching in the third-quarter of 2009. GXT has a worldwide footprint through
both company-owned and joint venture processing centers and the global
experience base needed to support the Polarcus vessels in all marine
acquisition settings.

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 ION from time to time in its filings with the Securities and
Exchange Commission
.

About ION

ION is a leading provider of geophysical technology, services, and
solutions for the global oil & gas industry. ION’s offerings allow E&P
operators to obtain higher resolution images of the subsurface to reduce the
risk of exploration and reservoir development, and enable seismic contractors
to acquire geophysical data more efficiently. Additional information about
ION is available at www.iongeo.com.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering
environmental agenda, specializing in high-end towed streamer data acquisition
from pole to pole. Polarcus is launching an ultra-modern fleet of initially 6
advanced seismic vessels designed by Norway’s Ulstein Design AS incorporating
the innovative ULSTEIN X-BOW(R) hull. Additional information about Polarcus
is available at www.polarcus.com.

SOURCE ION Geophysical Corporation

CONTACT: ION (Financial community), Brian Hanson,
Chief Financial
Officer, +1-281-879-3672,
or ION (Media affairs), Karen Abercrombie,
Director
– Corporate Marketing, +1-713-366-7281,
karen.abercrombie@iongeo.com
Web Site: http://www.iongeo.com
(IO)