Spectraseis Strengthens Board with Two Key Appointments

Zurich, Switzerland, June 25, 2008. Spectraseis, the leading provider
of low frequency geophysical solutions to the upstream oil & gas
industry, today announced that Ian Vann, former BP Group Vice
President for Exploration & Business Renewal, and Bjarte Fageras,
Chairman of Octio Geophysical AS, have joined Spectraseis' Board of
Directors.

Ian Vann was Group Vice President for Exploration & Business Renewal
at BP between 2004 and 2007 and, prior to this, was Chief Technology
Officer. As Vice President for Exploration, he was responsible for
directing BP's global exploration efforts with an annual budget of
US$1 billion.

As Chief Technology Officer, Mr Vann was responsible for technology
strategy, research & development and technology deployment throughout
BP's exploration and production business including the overall
direction of 1000 technology professionals.

Bjarte Fageras is Chairman of the board of Octio Geophysical AS, a
technology company which specializes in offshore oil and gas
reservoir monitoring systems, and CEO of Technocean AS, a subsea
services company. From 2004 to 2005, Mr Fagerås was Chief Executive
Officer of Exploration Resources, a marine geophysical services
company listed on the Oslo Stock Exchange and from 2001 to 2004, was
Vice President and Chief Technology Officer at I/O Corporation (now
ION).

Spectraseis CEO, Ross Newman, said:

"With so many potential opportunities to choose from in the oil & gas
industry, we are honored that Ian and Bjarte have chosen to invest
their time and experience in Spectraseis. We look forward to
leveraging Ian and Bjarte's immense knowledge of the upstream oil &
gas technology industry to further capitalize on the huge
opportunities low frequency seismic technologies bring to the E&P
business."

In November 2007, Spectraseis secured a CHF 36 million (US$ 32.2
million) investment from Warburg Pincus, the global private equity
firm and a leading energy investor. Both Jeffrey Harris, a Warburg
Pincus Managing Director, and Henry Makansi, head of Warburg Pincus'
European Energy activities sit on the Spectraseis board.

Established in 2003 in partnership with leading European
universities, Spectraseis is the principal technology and service
provider in the fast-emerging field of low frequency passive seismic
geophysical surveys. Spectraseis helps oil and gas companies reduce
risk and more efficiently find and produce hydrocarbon reserves, as
compared to conventional surveying and seismic techniques. In October
2007, Spectraseis won the 2007 World Oil Award for Best Exploration
Technology.

Note to editors

About Spectraseis

Spectraseis is the principal technology and service provider in the
fast-emerging field of low frequency passive seismic geophysical
surveys to help oil and gas companies more efficiently find and
produce hydrocarbon reserves.

Spectraseis researches and applies proprietary technologies, on land
and offshore, to acquire and analyze low frequency (<10 Hz) seismic
background waves continuously present in the Earth's subsurface in
order to identify spectral attributes indicating the likely presence
or absence of hydrocarbons within a survey area. The resulting
information can greatly reduce the risk and improve the success rate
of costly oil exploration and drilling activities and improve
decision-making throughout the life of a field. Broad adoption of the
company's technology by the global oil and gas exploration and
production industry can be expected to save billions of dollars each
year which is currently expended on non-productive exploration
surveys and dry wells, as well as significantly improve the
industry's environmental performance.

Spectraseis was established in 2003 and is headquartered in Zurich,
Switzerland.

For more information, please visit www.spectraseis.com

###

All product and company names herein may be trademarks of their
respective owners.

For further information, contact:

Ross Newman
Chief Executive
Spectraseis AG
Tel. +41 43 500 5828 or +41 78 697 5888
ross.newman@spectraseis.com

Brice Bouffard, VP Sales & Marketing, Spectraseis AG
Tel. +41 43 500 5849
Brice.Bouffard@spectraseis.com

Paul Fisher, Axiom Communications Management
Tel: +44 (0) 1285 713 776
pfisher@axiomcomms.com
Copyright © Hugin AS 2008. All rights reserved.