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                   PGS to Purchase First Commercial System

HOUSTON, Sept. 24 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO), formerly known as I/O, announced today that it had completed open
water testing of its DigiFIN(TM) streamer control system on the Petroleum
Geo-Services’ (PGS) seismic vessels Atlantic Explorer and Pacific Explorer.
DigiFIN is a steerable streamer system for marine seismic acquisition vessels
that provides lateral streamer control, a feature which improves the
efficiency of acquisition operations and allows more streamers to be towed
closer together to enhance the quality of the acquired seismic data.

Dave Moffat, Senior Vice President of Marine Imaging Systems at ION,
commented, “ION has developed DigiFIN to help contractors improve the
productivity of their marine seismic operations and deliver higher resolution
subsurface images to their oil & gas company customers. It is a ‘drop-in’
system designed to be compatible with most existing in-water streamers. We
are delighted that PGS — widely recognized as a seismic acquisition leader in
the industry — experienced first-hand the additional value that DigiFIN can
bring to marine seismic operations.”

DigiFIN maintains tighter, more uniform streamer separation along the
entire length of the streamer cable, which allows for finer sampling of
seismic data and improved subsurface images. DigiFIN also enables faster line
changes and minimizes the requirements for in-fill, which together improve the
productivity of towed streamer operations.

Rune Eng, Group President — Marine Acquisition at PGS, commented, “PGS is
committed to being the technology leader in marine seismic acquisition. We
are actively involved in maturing this technology through the ION-PGS Launch
Partner Agreement, which enables first adoption of the technology by PGS. We
are pleased with the results of the tests on the Atlantic Explorer and Pacific
Explorer and expect DigiFIN to further improve our ability to deliver the
tight streamer spacing that is often required on the most technically advanced
marine programs, including 4D and HD3D surveys.”

ION will continue to integrate Orca(TM) command & control software from
its Concept Systems subsidiary with DigiFIN and the other products in its
marine streamer portfolio, including DigiBIRD(TM) for streamer depth control,
DigiRANGE II(TM) for acoustic positioning, and the DigiSTREAMER(TM) solid
cable system. Together, this tightly integrated, advanced marine solution
allows streamer vessel operators to capture higher quality seismic data more
efficiently, with reduced HSE risk, and in shorter periods of time.

DigiFIN is scheduled for general commercial availability in the fourth
quarter of 2007.

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 http://www.iongeo.com.

About PGS

Petroleum Geo-Services is a focused geophysical company providing a broad
range of seismic and reservoir services, including acquisition, processing,
interpretation, and field evaluation. The company also possesses the world’s
most extensive multi-client data library. PGS operates on a worldwide basis
with headquarters at Lysaker, Norway. For more information on
Petroleum Geo-Services visit http://www.pgs.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 ION from time to time in its filings with the Securities and
Exchange Commission.

Contacts

ION (Investor relations)
Chief Financial Officer
Brian Hanson, +1 281.879.3672

ION (Media relations)
Director – Corporate Marketing
Kelly Kline, +1 281.468.5224
kkline@iongeo.com

SOURCE ION Geophysical Corporation

CONTACT: Investor relations, Brian Hanson, Chief Financial Officer,
1-281-879-3672, or Media relations, Kelly Kline, Director – Corporate
Marketing, 1-281-468-5224, kkline@iongeo.com, both of ION Geophysical
Corporation
Web site: http://www.iongeo.com
http://www.pgs.com
(IO)