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 Largest Geophysical Society Envisions a Portal for Global Knowledge Sharing

HOUSTON, Sept. 26 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO), formerly known as I/O, and The Society of Exploration
Geophysicists (SEG) today announced ION’s sponsorship of SEG Online at the SEG
International Exposition and 77th Annual Meeting in San Antonio. SEG Online
is a web-based portal that is being developed to provide real-time access to
geophysical knowledge and technological best practices for SEG members around
the world.

When completed, SEG Online will offer SEG’s global members instant access
to industry publications, on-line training courses, distinguished lectures,
conference presentations, research activities, interactive tutorials, and
career resources via the worldwide web. The first phase will be launched in
late 2007.

Bob Peebler, President and CEO of ION, commented on the sponsorship, “The
vision behind SEG Online aligns with our innovative spirit at ION. We believe
that the current state of subsurface imaging challenges around the world
requires access to leading edge geophysical concepts. SEG Online provides a
means for geophysicists around the world to exchange the latest technical
approaches and success stories and to collaborate with one another on some of
the most challenging problems in geophysics. SEG Online embodies the
pioneering spirit of technological innovation and global collaboration that
are core to our mission at ION. We are proud to be a sponsor of the program
and look forward to its release and ongoing development.”

Gary Servos, Chair of the SEG Foundation Board, added, “SEG is now a
global organization with 27,000 members, including 7,000 student members. Our
challenge is to effectively deliver the knowledge and continuing education
opportunities that SEG is noted for to our worldwide membership. SEG Online
envisions a comprehensive portal, based on state-of-the-art web technology,
which will serve the global geophysical community, including professionals and
students, and through their efforts the corporations and institutions that
employ them. ION has again demonstrated their leadership through the
commitment announced today. This will strengthen the profession of geophysics
around the world.”

ION will sponsor SEG Online through a $400,000 grant to the SEG
Foundation, which will be payable over several years.

About SEG

The Society of Exploration Geophysicists, the international society of
applied geophysics, is a not-for-profit organization that promotes the science
of geophysics and the education of applied geophysicists. SEG fosters the
expert and ethical practice of geophysics in the exploration and development
of natural resources, in characterizing the near surface, and in mitigating
earth hazards. The Society, which has more than 27,000 members in 130
countries, fulfills its mission through its publications, conferences, forums,
web sites, and educational opportunities. The SEG Foundation is a 501(c)(3)
charitable not-for-profit organization that supports the educational mission
of the SEG. For more information, visit http://www.seg.org.

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.

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

    SEG Foundation
    Director Geophysics
    Peter Pangman, +1 918.497.5518
    ppangman@seg.org

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; or Peter Pangman
of SEG Foundation, 1-918-497-5518, ppangman@seg.org
Website: http://www.iongeo.com
http://www.seg.org
(IO)