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        Distinguished Member of the ION Board of Directors Since 1999

HOUSTON, Aug. 18 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) today announced that Sam K. Smith will retire from the Board of
Directors effective August 18, 2008. Mr. Smith joined the ION Board of
Directors in 1999, served as the company’s Chief Executive Officer from 1999
until 2000, and has served on the Compensation Committee of the Board since
2005. Once Mr. Smith retires, the ION Board of Directors will be comprised of
six non-employee Directors and ION President and CEO, Bob Peebler.

Reflecting on Mr. Smith’s service to the Company, Bob Peebler stated, “I
have known Sam since 1989 when he was with the venture capital firm, Sevin
Rosen, which served as the lead investor in Landmark Graphics, a seismic
software company that I joined in that same year. Sam was on the Landmark
Board, as was I in the capacity of CEO, until we sold the company to
Halliburton. During our work together at both Landmark and ION, I have always
valued his wise counsel related to managing large-scale technology systems
from inception to full commercialization and his practical, business-grounded
understanding of the ‘real world.’ Sam can take great pride in his nearly
twenty years of contributions to technology companies in the E&P industry
during their periods of rapid growth. While he will be missed by all of us at
ION, I know Diane and Sam’s children and grandchildren are looking forward to
having more time to spend with him during his retirement.”

The ION Board of Directors intends to appoint a new Board member to
replace Mr. Smith over the next few months.

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.

Contacts
ION (Financial community)
Chief Financial Officer
Brian Hanson, +1 281.879.3672

ION (Media affairs)
Senior Manager – Corporate Marketing
Jenny Salinas, +1 713.366.7286
jenny.salinas@iongeo.com

SOURCE ION Geophysical Corporation

Web site: http://www.iongeo.com
(IO)