Australian Chinese man missing after Shanghai protest

BEIJING, June 3 (Reuters) – A Chinese-born Australian activist, who changed his name to get round a ban on his return, has been missing for more than a day after making a one-man protest in Shanghai, a campaign organiser said on Thursday.

Zhang Xiaogang, originally from China’s southern province of Guangdong, is a computer engineer who became a human rights and democracy campaigner after 1989. He now works as a taxi driver in Australia to give him more time for activism.

He was in China as part of the “Gongmin Walk 2010″, an international project to promote human rights and civil society in China, said Yang Jianli, a fellow exile and president of Initiatives for China, which is organising the walk.

Zhang had hoped to reach Beijing to commemorate the 21st anniversary of the June 4 military crackdown on pro-democracy protests centre on Tiananmen Square and petition the government on behalf of Chinese citizens forcibly evicted from their homes.

But he has been unreachable since Wednesday morning Beijing time. He had videotaped a one-man protest at the site of the Shanghai World Expo before his disappearance.

Yang wore a T-shirt saying “Support the victims of the Shanghai Expo” in English and Chinese — referring to ordinary citizens forced to leave their homes to make way for the multi-billion dollar event, and a short clip showed him walking around the site, apparently ignored by other visitors.

“I think the video caused the problem. I would guess there are a lot of video cameras around the site, I figured they would have caught him on the cameras and followed him back to his hotel room,” said Yang, who lives in exile in Boston and has doctorate degrees from Harvard and Berkeley universities.

NEW NAME

The Australian Embassy in Beijing declined immediate comment.

Zhang, who is in his mid-50s, was blocked on recent attempts to return to China, and changed his name and got a new passport to secure his visa for this trip, said Yang, who was himself released in 2007 after serving five years in a Chinese prison on charges of sneaking into the country and spying for Taiwan.

Tanks rolled into Tiananmen Square before dawn on June 4, 1989 to crush weeks of student and worker protests. Public memories have faded but the ruling Communist Party, which has never released a death toll, still fears any commemoration could challenge its continued hold on power.

Last year China blocked the Twitter microblogging service ahead of the anniversary, and it has remained shut ever since.

A handful of people are still serving prison sentences for their activities in 1989, others are in prison for continued activism after their initial release, and hundreds more protest leaders are in exile.

The country’s most prominent dissident, Liu Xiaobo, was jailed last December for 11 years for campaigning for political freedoms, after he helped organise the “Charter 08″ petition that called for sweeping political reforms.

Before that Liu was prominent in the 1989 protests.

Zhang said in a letter written before his departure that, as an overseas signatory of Charter 08, he was also returning to show solidarity with Liu. (Editing by Benjamin Kang Lim and Alex Richardson)

Research and Markets: 2Q10 Malaysia Mobile Operator Forecast, 2009 – 2014: Malaysia will have 42.5 Million Mobile Subscribers in 2014

DUBLIN–(Business Wire)–
Research and Markets
(http://www.researchandmarkets.com/research/775b61/2q10_malaysia_mobi) has
announced the addition of IE Market Research Corp.’s new report “2Q10 Malaysia
Mobile Operator Forecast, 2009 – 2014: Malaysia will have 42.5 Million Mobile
Subscribers in 2014 with DiGi Taking Market Share of 26.7%” to their offering.

2Q10 Malaysia Mobile Operator Forecast, 2009 – 2014: Malaysia will have 42.5
Million Mobile Subscribers in 2014 with DiGi Taking Market Share of 26.7%

Mobile Operator Forecast on Malaysia provides over 50 operational and financial
metrics for the Malaysian wireless market and is one of the best forecasts in
the industry. We provide five-year forecasts at the operator level going out to
2014. We also provide quarterly historical and forecast data starting in 1Q2003
and ending in 4Q2011. Operators covered for Malaysia include: Maxis Mobile
Services Sdn. Bhd., Celcom (Malaysia) Berhad, and DiGi Telecommunications Sdn.
Bhd. Our Mobile Operator Forecasts are updated quarterly and are available for
one-time delivery or through regular updates.

Global Mobile Operator Forecast covers 50 operational metrics of 200+ mobile
operators in 50+ countries, making up 80% of the worlds population. Our
forecasts are based on our proprietary, country-specific forecasting models.
These models deploy multiple regression analysis and cross-impact matrices that
estimate relationships between subscriber data, technology use and deployment
data, overall economic and demographic changes expected in a particular country;
and relate these to company operational and financial metrics.

Executive Summary:

Double-digit subscriber growth continues in Malaysia’s mobile operator space

* +11.5% industry average subscriber growth in 4Q.2009
* Subscriber growth in the Malaysian wireless market remains strong, but it is
gradually slowing down. The industry average subscriber growth (YoY) in 4Q.2009
was 11.5%, down from 15.7% in 4Q.2008.
* At the operator level, Celcom enjoyed the fastest subscriber growth in the
country in 4Q.2009. Celcom’s subscriber growth (YoY) in 4Q.2009 was 15.8%, up
from 21.6% in 4Q.2008.
* Subscriber growth rates (YoY) at Maxis and DiGi were 9.4% and 9.3%
respectively in 4Q.2009.

ARPU levels continue to decline in Malaysia

* -6.0% operator-wide average ARPU growth in 4Q.2009
* The industry average monthly ARPU declined by -6.0% (YoY) to reach MYR 54.56
in 4Q.2009.
* Monthly ARPU at Maxis was MYR 55 in 4Q.2009, down -6.8% from MYR 58 in
4Q.2008.
* ARPU growth rates (YoY) at Celcom and DiGi were also negative at -3.8% and
-7.5% respectively in 4Q.2009.

Minutes of Use per Subscriber increase at Maxis and DiGi

* +1.5% industry average MOU/Sub growth in 4Q.2009
* The industry MOU/Sub was 203 minutes per month in 4Q.2009, up +1.5% from 200
minutes in 4Q.2008.
* DiGi leads Malaysias operators with its average MOU/Sub of 229 minutes per
month, and MOU/Sub growth (YoY) of 4.1% in 4Q.2009. MOU/Sub at Maxis and Celcom
were 181 and 209 minutes and per month respectively in 4Q.2009.

Positive EBITDA growth continued across operators in the latest quarter

* +3.6% industry average EBITDA growth in 4Q.2009
* The industry average EBITDA growth declined from 15.0% in 4Q.2008 to 3.6% in
4Q.2009.
* At the operator level, Celcom enjoyed the highest EBITDA growth at 14.3% in
4Q.2009, up from 8.9% in 4Q.2008.
* On the other hand, the EBITDA growth rate at Maxis decreased to -1.1% in
4Q.2009, down from 38.2% in 4Q.2008.

So what is IEMRs Forecast?

Total wireless subscribers in Malaysia to reach 42.5 million in 2014

* Given the latest quarter numbers, we forecast that total subscribers in
Malaysia will increase from 30.1 million in 2009 to 42.5 million in 2014.
* Our forecasting model predicts that the number of subscribers at Maxis,
Celcom, and DiGi will reach approximately 16.4 million, 14.7 million and 11.3
million respectively by the end of 2014.

Maxis’s market share will be declining over the next several years

* Our model forecasts that DiGi will see its market share increase from 25.6% in
2009 to 26.7% in 2014.
* On the other hand, Maxis will see its market share decline from 40.8% in 2009
to 38.7% in 2014.

Declining trend in ARPUs will continue over the next five years in Malaysia’s
mobile operator space

* Our model predicts that all operators will see their ARPUs decrease over the
next five years.
* We forecast that Celcom’s monthly ARPU will decline from MYR 54.50 in 2009 to
approximately MYR 49 in 2014.
* We expect that DiGi’s monthly ARPU will decline from MYR 55 in 2009 to about
MYR 50 in 2014.

Maxis will continue to enjoy higher EBITDA margins than Celcom and DiGi over the
next five years

* We expect that the industry average EBITDA margin (calculated as
EBITDA/service revenue) will remain in the range of 46% – 47% over the forecast
period, 2009 – 2014.
* We think that Maxis will continue to have higher EBITDA margin than Celcom and
DiGi over the next five years. According to our model, EBITDA margins at Maxis,
Celcom and DiGi will be approximately 52%, 42%, and 44% respectively in 2014.

Companies Mentioned:

* Maxis Mobile Services Sdn. Bhd.
* Celcom (Malaysia) Berhad
* DiGi Telecommunications Sdn. Bhd.

For more information visit

http://www.researchandmarkets.com/research/775b61/2q10_malaysia_mobi

Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Copyright Business Wire 2010

RPT-UPDATE 2-Russia to sell $29 bln state assets on market

MOSCOW, July 27 (Reuters) – Russia plans to sell $29 billion worth of assets on the open market, a senior government official said on Wednesday, allaying investors fears about the transparency of the biggest privatisation since the 1990s.

The planned asset sale is designed to fill budget holes that Russia is to battle for the next few years.

“We will sell significant stakes in state companies on the market. We plan to keep controlling stakes,” Finance Minister Alexei Kudrin told a press briefing ahead of a government meeting on Thursday, which will debate key budget parameters and privatisation plans.

“(Assets) will be valued publicly, in line with market prices and tenders will be open,” he said. “We are fully ruling out a situation when somebody sells something to someone at an artificially low price.”

He said the government wanted to earn around $10 billion next year from asset sales but did not name the companies that would be auctioned off. The government will meet on Thursday to approve draft budgets for 2011-2013 and asset sales.

If approved, the sale would become Russia’s most ambitious since President Boris Yeltsin’s era, when well-connected tycoons snapped up some of the biggest oil and metals firms at low prices.

Investors have applauded the plan to sell minority stakes in major state firms in the next three years but have said they are keen to see how transparent the process will be and whether foreigners will be allowed to bid.

The plan could help the Kremlin plug budget holes ahead of the 2012 presidential election, which will require the authorities to maintain high social spending to guarantee good approval ratings.

Sources told Reuters over the weekend the government wants to sell minority stakes in firms such as Russia’s biggest oil producer Rosneft (ROSN.MM), lender VTB (VTBR.MM) and oil pipeline monopoly Transneft (TRNF_p.MM). [ID:nLDE66P0S0]

The plan could offer the government an alternative to higher taxation in its battle to reduce budget deficits.

On Tuesday, Kudrin said Russia was unlikely to balance its budget deficit until 2015 and on Wednesday Prime Minister Vladimir Putin said Russia may not be able to reduce the deficit below 5 percent — or $80 billion — this year. [ID:nLDE66R1YA]

The plan ensures Russia will keep control of the firms in a clear signal the Kremlin is not moving away from the resource nationalism it has developed over the past decade of high commodity prices.

The sales plan would undergo a final review as part of budget debates on Sept 7, and then filed to parliament.

Speaking of taxes Kudrin said the government had approved a decision to increase mineral extraction taxes on gas producers by 61 percent from next year.

For a factbox on the proposed asset sales, please click on [ID:nLDE66P1DU]

(Reporting by Gleb Bryanski, writing by Dmitry Zhdannikov, Editing by Lidia Kelly, Ron Askew)

HTC Strengthens Management Team in Preparation For Future Growth

TAOYUAN, Taiwan, July 29 /PRNewswire/ — HTC Corporation, a global leader in mobile phone innovation and design, today announced a series of executive promotions and newly created management positions focused on building a stronger foundation for future growth.

“As the smartphone industry expands at this lightning pace, it is essential for HTC to grow its management capabilities from within while also adding outside expertise,” said Peter Chou, CEO of HTC Corporation. “Today’s announcement is not just a signal of our current growth and progress, but of our vision for bringing unique smartphones to people all over the world.”

Ron Louks, Chief Strategy Officer

As HTC’s newly created chief strategy officer, Ron Louks will be responsible for driving new strategic initiatives, technology incubation and will work closely with HTC’s engineering and operation departments. Prior to joining HTC, Louks was the chief technology officer at Sony Ericsson.

Kouji Kodera, Chief Product Officer

As HTC’s newly created chief product officer, Kouji Kodera will be responsible for HTC’s global product portfolio planning and management. As a seasoned veteran of the mobile industry, Kodera has a strong track record of building device portfolio strategies. Prior to joining HTC, he worked for Sony Ericsson as its head of products.

David Chen, Chief Engineering Officer

Previously vice president of product development, David Chen has been promoted to chief engineering officer, David Chen will continue to drive HTC’s product development and engineering. As one of HTC’s first employees in 1997, Chen has played a key role in HTC’s success. Under his leadership HTC has successfully created many of the world’s first and most innovative smartphones.

With this announcement, Horace Luke, HTC’s chief innovation officer and John Wang, HTC’s chief marketing officer will work closely with Kodera and Chen to strengthen HTC’s overall product offerings around the world.

Jason Mackenzie, President, HTC North America and Latin America

Previously vice president of HTC North America, Jason Mackenzie has been promoted to president of HTC North America and Latin America. As president, Mackenzie will continue to drive HTC’s strategy and market growth in North America and Latin America where he has contributed to HTC’s strong performance. As one of HTC’s founding North American members in 2005, Mackenzie has led HTC’s strong growth in North America.

Florian Seiche, President, HTC Europe, Middle East and Africa

Previously vice president of HTC Europe, Middle East and Africa (EMEA), Florian Seiche has been promoted to president of HTC EMEA. As the founder of HTC’s EMEA operations in 2005, Seiche has grown HTC’s business and brand to be one of the top smartphone makers in EMEA.

HTC also announced that Jason Juang, a senior executive vice president at HTC, has left the company to pursue other opportunities.

About HTC

HTC Corporation (HTC) is one of the fastest growing companies in the mobile phone industry. By putting people at the center of everything it does, HTC creates innovative smartphones that better serve the lives and needs of individuals. The company is listed on the Taiwan Stock Exchange under ticker 2498. For more information about HTC, please visit www.htc.com.

Sanofi to make formal Genzyme offer

(Reuters) – France’s Sanofi-Aventis (SASY.PA) plans to make a formal offer of up to $18.7 billion for Genzyme (GENZ.O) after its informal overture failed to strike interest, sources familiar with the situation said on Wednesday.

The board of Sanofi met in Paris on Wednesday and authorized management to make a formal offer of up to $70 per share for Genzyme, sources said.

Sanofi has bank commitments of funding that would allow it to raise that bid if needed, one source said. A second source cautioned that no formal proposal had been made yet and plans could still change.

Genzyme has a market capitalization of about $18 billion. At $70 per share, Sanofi would be offering a premium of roughly 30 percent over what the price of Genzyme’s stock was before news of takeover interest emerged.

The Wall Street Journal, citing people close to Genzyme, suggested that about $75 a share could be sufficient to win the support of Genzyme’s board.

Sanofi, which is scheduled to report second-quarter earnings on Thursday, declined to comment. Genzyme could not be immediately reached for comment.

Shares of Genzyme gained 5 percent to $71.20 in extended trading on Wednesday after news of the board meeting.

Analysts see Sanofi in greater need of a major acquisition than some of its rivals as it braces for generic competition for some of its key products.

Last week, Sanofi lowered its view for 2010 earnings per share after U.S. regulators approved a generic form of the Lovenox blood thinner, its No. 2 product last year.

Genzyme’s biggest-selling drug is Cerezyme, a treatment for Gaucher disease, a rare genetic disorder. Promising drugs in late stage development include a treatment for multiple sclerosis.

Orphan drugs — those that treat small numbers of patients but command high prices — are much less amenable to generic competition than pills and are therefore attractive acquisition candidates.

BEAR HUG LETTER EXPECTED

Sanofi’s proposal was expected to come in the form of a publicly disclosed “bear hug” letter that would lay out proposed takeover terms and try to pressure Genzyme to open negotiations, the first source said.

Genzyme failed to respond to Sanofi’s informal overture, sources previously told Reuters. Genzyme, which is trying to sell three non-core businesses, is not looking to sell the company, sources previously said.

Reports that Sanofi was making a run at Genzyme surfaced on Friday. The news has sent the U.S. company’s shares up about 30 percent since then as investors figured the company would garner a hefty premium for its portfolio of expensive treatments for rare genetic disorders and a pipeline of drugs in development.

Analysts see Genzyme fetching anywhere from $60 to $85 a share, depending on their view of the value of the company’s experimental drugs, the risks associated with its recovery from a manufacturing crisis and the entry of other bidders.

Some company watchers, however, focus on a narrower price range and say Genzyme shareholders may be willing to accept a price of $70 to $80 per share, particularly newer investors who were drawn to the company when it was targeted by activist investor Carl Icahn.

Sanofi’s approach comes on the heels of a turbulent two years for Genzyme and its chief executive, Henri Termeer, who is expected to step down within the next year or two.

Earlier this year, Termeer fought off a threatened proxy fight by reaching settlements with investors Carl Icahn, who now has two representatives on the company’s board, and Ralph Whitworth of Relational Investors LLC, who also sits on the board.

The Wall Street Journal said Britain’s Glaxo (GSK.L) had also recently made “a very casual approach” to Genzyme, but industry insiders and analysts said that Glaxo Chief Executive Andrew Witty, with a reputation for caution on M&A, was unlikely to chase Genzyme.

(Reporting by Jessica Hall; Editing by Gary Hill, Phil Berlowitz, Gary Hill)

UPDATE 1-BAE Systems H1 earnings up 14 pct, sees FY growth

LONODN, July 29 (Reuters) – BAE Systems (BAES.L) reported a 14 percent rise in first-half earnings and said it expected to deliver growth in the full-year despite expected lower sales at its land vehicle unit and cuts in European defence budgets.

Europe’s largest defence contractor on Thursday posted underlying earnings before interest, taxes and amortisation of 1.11 billion pounds ($1.73 billion) on sales 9 percent higher at 10.64 billion pounds for the six months to the end of June.

The company, which on Wednesday signed a 500 million pounds deal to supply India with 57 Hawk jets, increased the interim dividend by 9 percent to 7 pence per share but said it “anticipates a challenging trading environment” ahead.

BAE wants to grow its customer support and services business to offset expected cuts in UK defence procurement as Britain moves to cut a massive budget deficit.

Shares in BAE, which have fallen 10 percent in the last three months on concerns about potential cuts to European defence budgets, closed at 317 pence on Wednesday, valuing the company at around 10.80 billion pounds.

Despite the looming cuts, BAE, which derives around a fifth of its sales from Britain, said it saw unprecedented levels of interest from Middle Eastern and Asian governments at last week’s Farnborough airshow. [ID:nLDE66K206]

(Reporting by Rhys Jones; Editing by Matt Scuffham)

($1=.6402 Pound)

DNO International ASA: DNO International ASA – Mandatory Notification of Trade

Company controlled by Chairman of the Board of DNO International ASA, Berge Gerdt
Larsen, has on Wednesday 28 July 2010 bought 112 417 shares in DNO International ASA at
a price of NOK 8.39 per share.

Following this transaction, shareholdings in DNO International ASA controlled by the
Chairman totals 27 214 921 shares, representing 3,0 % of total shares in the company.

DNO International ASA
29 July 2010

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

UPDATE 1-National Express H1 boosted by margin improvement

LONDON, July 29 (Reuters) – British transport group National Express (NEX.L) reported a 36 percent increase in first-half pretax profit on Thursday as it benefited from improved operating margins and new contracts in North America.

The company, which runs coach services and rail franchises in the east of England, made a pretax profit of 75.7 million pounds ($118.2 million) in the six months to June 30. Its operating margin rose by 3.8 percentage points to 9 percent.

“Despite challenging economic conditions, greater operational focus is having a positive impact and we will continue to progressively drive improvement in performance and cut cost,” said Chief Executive Dean Finch.

National Express, which also operates yellow school buses in North America and a fleet of coaches and buses in Spain, said it expected trading to remain resilient in the next six months.

“We have secured growth opportunities, particularly in North America and Spain, in which we will selectively invest in the second half of the year,” said Finch.

The company, which raised 360 million pounds through a rights issue last November, said it expected to recommence dividend payments at the year-end, depending on its trading performance.

Shares in National Express closed on Wednesday at 242.9 pence, valuing the business at 1.25 billion pounds.

(Reporting by Matt Scuffham; Editing by Victoria Bryan)

($1=.6402 Pound)

Turkish C.Bank-higher forex res reqt to drain $719.6 mln

July 29 (Reuters) – Turkey’s Central Bank, which on Thursday raised its foreign currency reserve requirement to 10 percent from a previous 9.5 percent, said the measure would drain $719.6 million liquidity from the market.

The move is part of the central bank’s unwinding of financial-crisis induced measures intended to ease liquidity pressures. Turkey’s forex reserve requirements stood at 11 percent in December 2008.

(Reporting by Alexandra Hudson)

UPDATE 1-Abertis H1 net rises on stable traffic, telecoms

MADRID, July 29 (Reuters) – Spanish tollway operator Abertis (ABE.MC) said net profit rose 5.1 percent in the first half from a year ago, driven by stable traffic figures and strength in its telecoms division.

Net profit rose to 335 million euros ($436 million), beating forecasts for 326.8 million in a Reuters poll.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 6.6 percent to 1.177 billion euros, also beating forecasts for 1.169 billion.

Traffic on Abertis motorways fell 0.7 percent in the first half from a year ago, while it telecoms division posted a 19 percent increase in operating profit.

Abertis’ shareholders are currently immersed in a 25 billion euro leveraged buyout of the firm, with news on whether the financing for the deal has been sealed expected in the next few days. ($1=.7684 Euro) (Reporting by Judy MacInnes; editing by Jon Loades-Carter)

Sony surprises with Q1 profit, lifts outlook

TOKYO, July 29 (Reuters) – Sony Corp (6758.T) unexpectedly swung to a quarterly operating profit as improved demand for electronics and aggressive cost cuts countered the impact of a stronger yen and it lifted its annual forecast. Fears over the economic effects of Europe’s debt crisis are clouding the outlook for Japan’s exporters. The euro EURJPY= has fallen more than 10 percent against the yen since April 1.

Sony, the world’s second-largest camera maker after Canon Inc (7751.T) and the No. 3 maker of flatscreen TVs after Samsung Electronics (005930.KS) and LG Electronics (066570.KS) made more than 25 percent of its sales in Europe in the year to March 2010.

But Sony saw big improvements in sales of LCD TVs, PCs and Playstation 3 game consoles and game software.

For the year to March 2011, the electronics and entertainment giant lifted its operating profit outlook by 12.5 percent to 180 billion yen ($2.1 billion), compared with a consensus estimate of 152.6 billion in a poll of 22 analysts by Thomson Reuters I/B/E/S.

The company reported April-June operating profit of 67 billion yen versus a consensus forecast of a 13.1 billion yen loss in a poll of four analysts and a loss of 25.7 billion yen a year earlier.

On Wednesday, LG missed estimates with a 90 percent fall in quarterly profit, hit by falling margins in its TV business and a loss in its mobile phone division.

Sony’s mobile phone joint venture with Ericsson (ERICb.ST), Sony Ericsson, posted a second consecutive quarterly profit earlier in the month, recovering from a dismal 2009 on robust demand for smartphones.

Shares of Sony rose 0.1 percent to 2,611 yen on Thursday ahead of the announcement.

(Reporting by Isabel Reynolds; Editing by Anshuman Daga)

((isabel.reynolds@thomsonreuters.com; +813-6441-1883; Reuters Messaging isabel.reynolds.reuters.com@reuters.net))

((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))

($1=87.47 Yen) Keywords: SONY/

(C) Reuters 2010. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nTOE66R02W

EURO GOVT-Bunds rise on weak U.S. economic outlook

July 29 (Reuters) – Bund futures opened higher on Thursday, lifted by concerns over the U.S. economy after weak data in the previous session, with a euro zone sentiment survey seen adding to safe-haven bids if it fails to meet expectations. The euro zone survey released at 0900 GMT is expected to show a small gain in economic sentiment, but could lend further support to Bunds if it falls below the forecast of 99.0.

“The risk is that it comes in below forecast and people start questioning the strength of the recovery,” a trader said.

On Wednesday, a Federal Reserve report showed lacklustre growth and U.S. durable goods orders unexpectedly fell.

“It feels like we might have seen the lows of the week. I think the market is looking for signs of (risk appetite) calming down,” the trader said.

At 0605 GMT, the Bund future FGBLc1 was 8 ticks up on Thursday’s settlement close at 127.89, although slightly below the official close after a rally in late trading.

The 10-year German bond yield DE10YT=TWEB was 2.742 percent, down around 1 basis point while the two-year Schatz yield DE2YT=TWEB was flat at 0.852 percent.

In supply, benchmark peripheral sovereign Italy will come to market with auctions of conventional and floating-rate bonds worth up to 9.5 billion euros.

Although recent warmer sentiment towards the euro zone’s higher-yielding countries has seen peripheral debt sales draw good demand, a trader said there was likely to be some attempt to cheapen the Italian paper further ahead of the auction. (Reporting by William James)

Petroleum Geo-Services ASA: Second Quarter Presentation

OSLO, NORWAY, Jul 29 (MARKET WIRE) —

The second quarter presentation can be downloaded at www.newsweb.no or
www.pgs.com

FOR DETAILS, CONTACT:

Tore Langballe, SVP Corporate
Communications
Phone: +47 67 51 43 75
Mobile: +47 90 77 78 41

Bard Stenberg, Investor Relations Manager
Phone: +47 67 51 43 16

Mobile: +47 99 24 52 35

US Investor Services
Phone: +1 281 509 8712

This information is
subject of the disclosure requirements acc. to Section 5- 12 vphl
(Norwegian Securities Trading Act)

[HUG#1434696]

Q2 2010
Presentation: http://hugin.info/115/R/1434696/380258.pdf

This
announcement is distributed by Thomson Reuters on behalf of

Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and

other applicable laws; and

(ii) they are solely responsible for the content, accuracy and

originality of the information contained therein.

Source: Petroleum
Geo-Services ASA via Thomson Reuters ONE

Copyright 2010, Market Wire, All rights reserved.

Endeavour Schedules 2010 Second Quarter Earnings Conference Call and Web Cast

HOUSTON, July 29 /PRNewswire-FirstCall/ — Endeavour International Corporation (NYSE-Amex: END) (LSE: ENDV) will host a conference call and web cast to discuss its 2010 second quarter financial and operating results on Thursday, August 5, 2010 at 9 a.m. Central Daylight Time, 3 p.m. British Summer Time.

To participate and ask questions during the conference call, dial the local country telephone number and the confirmation code 9904628. The toll-free numbers are 888-663-2241 in the United States and 0-808-101-1402 in the United Kingdom. Other international callers should dial 913-312-0416 (tolls apply).

To listen only to the live audio web cast access Endeavour’s home page at http://www.endeavourcorp.com. A replay will be available beginning at 12:00 p.m. Central Daylight Time on August 5 through 12:00 p.m. on August 12 by dialing toll free 888-203-1112 (U.S.) or 719-457-0820 (international), confirmation code 9904628.

Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit http://www.endeavourcorp.com.

SOURCE Endeavour International Corporation

Zynga and Softbank Corp. Launch Joint Venture to Accelerate Social Game Industry in Asia

Softbank Invests $150 Million in Zynga
SAN FRANCISCO & TOKYO–(Business Wire)–
Zynga and Softbank today announced a joint venture that will develop and
distribute social games across Japan. The new joint venture, Zynga Japan, brings
together leaders in social games and consumer technology to offer millions of
new users the ability to play social games anytime and anywhere. In conjunction
with today`s announcement, Softbank has completed a $150 million investment in
Zynga. With this agreement, Zynga and Softbank will tighten their relationship
as business partners.

The joint venture extends Zynga’s reach to a wider global audience and marks the
company’s first foray into the rapidly growing internet and mobile market in
Japan. Based in Tokyo, Zynga Japan will tap into Japan’s rich history of gaming
and leverage Softbank’s cutting edge mobile and Web technology to produce the
best social games in the market.

“Zynga is a leader in social games and I am delighted to partner with them to
introduce their social games to Japan,” said Masayoshi Son, chairman and CEO of
Softbank. “We share the same vision as Zynga in social games and look forward to
working together to create a social game powerhouse.”

“We’re excited to partner with Softbank to bring Zynga’s social games to Japan
and gain insights from the Japanese market,” said Mark Pincus, CEO and Founder
of Zynga. “As one of the most innovative technology companies in the world,
Softbank is bringing the mobile internet to consumers making the social web more
accessible to people everywhere.”

About Zynga

Zynga`s games include FarmVille, Treasure Isle, Zynga Poker, Mafia Wars,
YoVille, Café World, FishVille, PetVille and FrontierVille. Zynga games are
available on Facebook, MySpace and the iPhone. Through Zynga.org, Zynga players
have raised over $3 million for world social causes. Zynga is headquartered in
Potrero Hill in San Francisco. For more information, visit www.Zynga.com or
www.Zynga.org.

About Softbank

Softbank is a leading technology company connecting consumers through its
broadband infrastructure, fixed-line telecommunications, and mobile
communications services. Softbank has invested in overseas companies with high
potential to provide next generation services using the internet, including Oak
Pacific Interactive (which operates China’s largest SNS site) and Ustream, Inc.
(which is the operator of the Ustream.TV website), a broadcast platform offering
live video distribution service via the Internet (video streaming service). By
leveraging this investment in Zynga and through its other efforts, Softbank.
continuously aims to generate synergies among various content and services
within its group. For more information, visit http://www.softbank.co.jp/en/.

Zynga
Lisa Chan, 415-706-1834
lchan@zynga.com
or
Softbank
pr@softbank.co.jp

Copyright Business Wire 2010

InfoVista ReportsSolid Fourth Quarter and Full Fiscal Year Results

PARIS–(Business Wire)–
InfoVista (Euronext: IFV, ISIN: FR0004031649), the leading provider of Service
Performance Assurance solutions, today announced financial results for the
fourth quarter and fiscal year, ended June 30, 2010.

Total revenues for the quarter were €12.2 million, compared to €11.5 million in
the fourth quarter last year. On a normalized basis (i.e. excluding Microsoft
license revenues in the prior year), revenues were up 13% from the comparable
quarter last year, with strong license revenue growth year-on-year of 25%.
Operating income was €1.1 million in the fourth quarter, while net income
reached €1.2 million.

For the fiscal year 2010, InfoVista achieved normalized revenue growth of 5%, to
€43 million, and a net income margin of 6%, in line with its objectives for the
year.

Commenting on the Company`s performance, Philippe Ozanian, Chief Executive
Officer, said: “The fast adoption of our new solutions, Vista360, Mobile Pack,
APM (Application Performance Management), and our partnership with Cisco
generated a remarkable fourth quarter license revenue increase of 25% compared
to last year. Twelve consecutive quarters of positive operating margins, a
revamped portfolio of solutions, and fruitful partnerships leave me very
confident that InfoVista is in better shape than ever to take advantage of its
leadership position. Our next fiscal year objectives will seek to accelerate our
recent accomplishments so we look forward to discussing these with the financial
community on September 9th.”

Financial Highlights

Revenues by Region

In thousands Q4 FY10 Q4 FY09 % Change FY 2010 FY2009 % Change FY 2009 % Change
Normalized
EMEA €6,835 €5,882 16% €24,219 €24,027 1% €24,027 1%
Americas 3,943 4,431 -11% 12,427 16,164 -23% 11,973 4%
Asia-Pacific 1,389 1,222 14% 6,354 4,993 27% 4,993 27%
Total €12,167 €11,535 5% €43,000 €45,184 -5% €40,993 5%

* In the Americas, fourth quarter revenues were up 7% on a normalized basis
compared to last year. Recently released products led to a large win with a
US-based mobile wholesale customer, while Cisco PNOC business provided positive
traction.
* EMEA revenues grew by 16% in the fourth quarter. Emerging markets represented
about half of EMEA license revenues, with a large number of repeat deals from
follow-on phases with service providers in Serbia, South Africa and Saudi
Arabia.
* Revenues in Asia-Pacific, up 14%, posted their fourth consecutive quarter of
double-digit growth. New products that address mobile network service providers
lifted license revenues.
* In the fourth quarter, InfoVista derived 40% of total revenues from its
indirect sales channel. The service provider market generated 77% of total
revenues for the quarter.

Operating Expenses

In thousands Q4 2010 Q4 2009 % change FY 2010 FY 2009 % change
Sales & Marketing €4,285 €3,835 12% €15,064 €15,560 -3%
Research & Development 2,616 2,344 12% 9,495 9,723 -2%
General & Administrative 1,410 1,383 2% 5,677 5,717 -1%
Total €8,311 €7,562 10% €30,236 €31,000 -2%

* Gross margin in the fourth quarter was at 78%, compared to 79% for same period
last year.
* Sales & marketing costs represented 35% of total revenues in the fourth
quarter, up 12% from the comparable quarter last year. This increase is a direct
result of additional spending linked to revenue growth for the past quarter.
* Research & development costs represented 21% of revenues in the fourth
quarter, up as compared to the same period last year. Excluding R&D tax credits
in France, the fourth quarter R&D costs were unchanged year on year.
* General & administrative costs stood at €1.4 million in the fourth quarter or
12% of total revenues for the quarter. G&A spending was held flat with continued
cost control.
* As at June 30, 2010, InfoVista had 231 employees.

Income taxes

* InfoVista recorded a net €0.1 million income tax benefit during the fourth
quarter, which included a deferred tax benefit of €0.4 million and an income tax
expense of €0.3 million. According to IFRS accounting rules, InfoVista has
determined that a portion of its more than €10 million deferred tax assets
should be recorded for a €0.4 million benefit in the fourth quarter, as a result
of past trends in positive net result performance as well as the positive
outlook for fiscal year 2011.

Balance Sheet

* Days Sales Outstanding (DSO) stood at 98 days for the fourth quarter, as
compared to 65 days in the comparable quarter last year. This increase in DSO
resulted from exceptionally strong cash collections in the fourth quarter of the
previous fiscal year.
* As at June 30, 2010, the Company`s cash, cash equivalent and short-term
deposits amounted to €25.8 million, as compared to €28.6 million at June 30,
2009 and €23.1 million at March 31, 2010. For the quarter, the €2.7 million cash
generation came primarily from operating activities. For the fiscal year, the
cash consumption of €2.8 million came primarily from its stock buyback program.
* As at June 30, 2010, InfoVista had a total of 18,015,404 and 16,552,447 shares
issued and outstanding, respectively.

Conference call to discuss 2010-11 objectives September 9, 2010

Please go to the investor relation webpage at www.infovista.com to view a video
presentation of InfoVista`s 2010 financial result.

InfoVista will host an investor conference call on September 9, 2010 at 9.00
a.m. (EST) / 2:00 p.m. (UK) / 3:00 p.m. (Continental Europe). The call will be
available by dialing France +33 (0)1 70 99 42 72 North America +1 212 444 0481
and +44 (0)20 7138 0824 in the UK. In each case followed by access code 6958646
A replay will be available shortly after the end of the call at the following
numbers: France: +33 (0)1 74 20 28 00 UK: +44 (0)20 7111 1244 North America: +1
347 366 9565 – all with access code 6958646#.

About InfoVista

InfoVista enables managed service providers, mobile operators, broadband
operators and enterprise IT organizations to ensure the availability and quality
of the services they deliver at the lowest possible cost, empowering these
organizations to successfully make the transformation from infrastructure
providers to service providers. Our customers rely on InfoVista`s proven
solutions for service and infrastructure performance management to successfully
launch new and high performance services, foresee potential service issues
before they impact end users, reduce customer churn, and invest appropriately.
Sample customers include Bell Canada, Bharti, BNP Paribas, Cable & Wireless,
Citigroup, Deutsche Telekom, JP Morgan Chase, KPN International, SFR, T-Mobile,
Telefonica, and Telstra. InfoVista is traded on the Euronext Paris
(FR0004031649) and can be found online at www.infovista.com.

Except for historical information contained herein, the matters discussed in
this news release are “forward looking statements.” These statements involve
risks and uncertainties which could cause actual results to differ materially
from those in such forward-looking statements; including, without limitation,
risks and uncertainties arising from the rapid evolution of our markets,
competition, market acceptance of our products, our dependence upon spending by
the telecommunications industry and our ability to develop and protect new
technologies. For a description of other factors which might affect our actual
results, please see the “Risk Factors” section and other disclosures in
InfoVista’s public filings with the French Autorité des Marchés Financiers.
Readers of this news release are cautioned not to put undue reliance on any
forward-looking statement. The Company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new information,
future events or otherwise.

The consolidated FY10 accounts are currently being audited and are subject to
approval by the Board of Directors anticipated for September 23, 2010.

INFOVISTA
CONSOLIDATED INCOME STATEMENTS
(In thousands, except for share and per share data)
The table presented below represents the consolidated income statements in accordance with IFRS

For the twelve months ended For the three months ended
June 30, June 30,
2010 2009 2010 2009
(unaudited) (unaudited) (unaudited)
Revenues
License revenues € 15,851 € 20,614 € 5,158 € 4,886
Service revenues 27,149 24,570 7,009 6,648
Total 43,000 45,184 12,167 11,534

Cost of revenues
Cost of licenses 1,284 1,058 274 245
Cost of services 8,698 9,040 2,381 2,197
Total 9,982 10,098 2,655 2,442

Gross profit 33,018 35,086 9,512 9,092

Operating expenses
Sales and marketing expenses 15,063 15,560 4,285 3,835
Research and development expenses 9,495 9,723 2,616 2,344
General and administrative expenses 5,677 5,717 1,410 1,383
Restructuring costs – 1,534 – –
Amortization of acquired intangible assets 457 458 114 114
Total 30,692 32,992 8,425 7,676

Operating profit 2,326 2,094 1,087 1,416

Financial revenues 223 666 40 149
Financial costs (14) (53) (1) (18)
Net foreign currency transaction gains (losses) (53) (144) (70) (161)

Financial profit 156 469 (31) (30)

Profit before income taxes 2,482 2,563 1,056 1,386

Income tax (expense) / benefit (55) (320) 95 (189)

Profit € 2,427 € 2,243 € 1,151 € 1,197

Basic profit per share € 0.14 € 0.13 € 0.07 € 0.07
Diluted profit per share € 0.14 € 0.13 € 0.07 € 0.07

Basic weighted average shares outstanding 16,943,648 17,679,138 16,562,897 17,459,469
Diluted weighted average shares outstanding 17,101,580 17,706,846 16,800,457 17,493,776

INFOVISTA
CONSOLIDATED BALANCE SHEETS
(In thousands)
The table presented below represents the consolidated balance sheets in accordance with IFRS

As of
June 30, June 30,
2010 2009
(unaudited)
ASSETS

Goodwill € 9,268 € 9,268
Other intangible assets, net 1,379 1,941
Tangible assets, net 1,202 1,332
Deferred tax asset 894 –
Other non-current assets 619 867
Total non-current assets 13,362 13,408

Accounts receivables, net 13,207 8,357
Other current assets 2,071 1,376
Short term deposits 11,538 –
Cash and cash equivalents 14,215 28,644
Total current assets 41 031 38 377

Total assets € 54,393 € 51,785

EQUITY
Issued capital € 9,728 € 9,724
Share premium 80,086 79,215
Treasury shares (4,164) (1,075)
Currency translation differences (1,168) (1,620)
Accumulated deficit (47,957) (50,384)
Total equity 36,525 35,860

LIABILITIES
Deferred revenues – non-current 262 320
Other non-current liabilities 270 223
Total non-current liabilities 532 543

Accounts payables 2,904 1,592
Accrued salaries and commissions 2,820 2,244
Accrued social security and payroll taxes 1,932 1,256
Accrued VAT 548 410
Deferred revenues – current 8,716 8,843
Other current liabilities 416 1,037
Total current liabilities 17,336 15,382

Total liabilities and equity € 54,393 € 51,785

Actif – Passif – –
With P&L (1)

InfoVista
David Forlizzi, Chief Financial Officer
+1 703-707-1768
+33 1 64 86 79 52
dforlizzi@infovista.com

Copyright Business Wire 2010

Q2 2010 Quarterly Dividend and Q3 Timetable Announcement

THE HAGUE, Netherlands, July 29, 2010 /PRNewswire-FirstCall/ — The Board of Royal Dutch Shell plc (“RDS”) today announced an interim dividend in respect of the second quarter of 2010 of US$0.42 per A and B ordinary share, equal to the US dollar dividend for the same quarter last year.

Dividends declared on A ordinary shares (“A shares”) will be paid by default in euro, although holders of A shares will be able to elect to receive dividend in pounds sterling. Dividends declared on B ordinary shares (“B shares”) will be paid by default in pounds sterling, although holders of B shares will be able to elect to receive dividend in euro. Dividends declared on American Depository Receipts (“ADRs”) will be paid in US dollars.

Details relating to the second quarter 2010 interim dividend

This dividend will be payable on September 8, 2010 to those members whose names are on the Register of Members on August 6, 2010. The shares will become ex-dividend on August 4, 2010.

It is expected that the dividends on the B shares will be paid via the Dividend Access Mechanism from UK-sourced income of the Shell Group.

Per ordinary share Q2 2010
RDS A shares (US$) 0.42
RDS B shares (US$) 0.42

Per ADR Q2 2010
RDS A ADRs (US$) 0.84
RDS B ADRs (US$) 0.84

Dividends on A shares will be paid, by default, in euro at the rate of EUR 0.3227 per A share. Holders of A shares who have validly submitted pounds sterling currency elections by July 28, 2010 will be entitled to a dividend of 26.89p per A share.

Dividends on B shares will be paid, by default, in pounds sterling at the rate of 26.89p per B share. Holders of B shares who have validly submitted euro currency elections by July 28, 2010 will be entitled to a dividend of EUR 0.3227 per B share.

Holders of A or B shares in ADR form will be entitled to a dividend of US$0.84 per ADR.

Taxation

Dividends on A shares will be subject to the deduction of Netherlands dividend withholding tax at the rate of 15%, which may be reduced in certain circumstances. Provided certain conditions are met, shareholders in receipt of A share dividends may also be entitled to a non-payable dividend tax credit in the United Kingdom.

Shareholders resident in the United Kingdom, receiving dividends on B shares through the Dividend Access Mechanism, are entitled to a tax credit. This tax credit is not repayable. Non-residents may also be entitled to a tax credit, if double tax arrangements between the United Kingdom and their country of residence so provide, or if they are eligible for relief given to non-residents with certain special connections with the United Kingdom or to nationals of states in the European Economic Area.

The amount of tax credit is 10/90ths of the cash dividend, the tax credit referable to the second quarter 2010 interim dividend of US$0.42 (26.89p or EUR 0.3227) is US$0.05 (2.99p or EUR 0.0359) per ordinary share and the dividend and tax credit together amount to US$0.47 (29.88p or EUR 0.3586).

Dividend reinvestment plan

The Royal Bank of Scotland N.V. (“RBS”) and Equiniti each have established a dividend reinvestment facility which enables RDS shareholders to elect to have their dividend payments used to purchase RDS shares of the same class as those already held by them. The dividend reinvestment plans (the “DRIPs”) are provided by RBS in respect of shares held through Euroclear Nederland and by Equiniti in respect of all other shares (but not ADRs). DRIPs for the ADRs (both Class A ADRs and Class B ADRs) traded on the NYSE are available through The Bank of New York Mellon.

Enquiries about the DRIPs, including how to elect to participate and information about the reinvestment mechanisms under the respective plans should, in the case of shareholders holding through Euroclear Nederland, be directed to their bank or broker and in the case of all other shareholders (other than holders of ADRs) to Equiniti. Enquiries relating to the DRIPs for ADRs (both Class A ADRs and Class B ADRs) should be made to The Bank of New York Mellon.

Scrip dividend programme

At the 2010 Annual General Meeting of the Company, shareholders approved a resolution authorising the Directors to offer ordinary shareholders (excluding any shareholder holding shares as treasury shares) the right to choose to receive extra ordinary shares instead of some or all of the cash dividend or dividends which may be declared or paid at any time after the date of that meeting and prior to May 18, 2015 (the “Scrip Dividend Programme”).

The Board intends to introduce the Scrip Dividend Programme in relation to the third quarter 2010 financial results.

Shareholders will be provided with full details of its terms and conditions and how to participate in September 2010. Full details of the Scrip Dividend Programme will be made available on http://www.shell.com/dividend.

Revised timetable for the third quarter 2010 interim dividend

The Board advises shareholders that the timetable for the third quarter 2010 interim dividend has been revised as a result of the intended introduction of the Scrip Dividend Programme.

Revised intended timetable for the third quarter 2010 interim
dividend:

Announcement date October 28, 2010

Ex-dividend date November 3, 2010

Record date November 5, 2010

Scrip reference share price announcement date November 10, 2010

Closing of scrip election and currency election November 26, 2010

Pounds sterling and euro equivalents announcement December 3, 2010
date

Payment date December 17, 2010

The revised intended dividend timetable for the third quarter 2010 interim dividend is also available on http://www.shell.com/dividend.

UPDATE 1-Bayer profit misses estimates on generic rivalry

FRANKFURT, July 29 (Reuters) – Bayer’s (BAYGn.DE) quarterly earnings fell short of market expectations because generic competition for its two best-selling drugs overshadowed a rebound at its plastics unit.

In the second quarter, group underlying profit — or earnings before interest, taxes, depreciation and amortisation (EBITDA) before special items — rose 8.6 percent to 1.92 billion euros, Germany’s largest drugmaker, said on Thursday.

Analysts had expected adjusted EBITDA, which serves as the group’s main gauge of success, to rise to 1.98 billion. [ID:nLDE66P093] Quarterly net income of 525 million euros at the maker of cancer drugs, weed killers and car coatings also missed the 768 million estimated by analysts.

Generic-drug industry leader Teva (TEVA.TA) has brought a copycat version of Bayer’s YAZ birth-control pill to U.S. markets earlier than expected, while a generic version by Novartis (NOVN.VX) is chipping away at sales of blockbuster multiple sclerosis drug Betaferon. [ID:nLDE6501SV] [ID:nN29138356]

Bayer, the inventor of Aspirin and synthetic rubber, is meanwhile pinning its hope on potential blockbuster Xarelto, an experimental blood thinner for stroke prevention for which crucial test results are expected this year.

The group reiterated it expected 2010 core adjusted operating profit above 7 billion euros ($9.1 billion) as a rosier outlook for its plastics and foams unit MaterialScience offset expected weakness in drugs and crop chemicals sales.

The group’s CropScience division, one of the world’s largest makers of conventional pesticides, was hit by an unusually cold winter, followed by a hot and dry summer in the Northern Hemisphere.

(Reporting by Ludwig Burger)

Petroleum Geo-Services ASA: Second Quarter and First Half 2010 Results

July 29, 2010: OSLO, NORWAY – Petroleum Geo-Services ASA (“PGS” or the “Company”)
reported an EBITDA of $71.4 million (33 percent margin) in Q2 2010. The results were
impacted by significant investments in vessel upgrades and repositioning of vessels, as
earlier indicated. The upgrades further strengthen PGS’ fleet as the most cost effective
in the industry.

§ Group performance: Q2 2010 revenues were $214.9 million, with a corresponding EBIT of
$5.3 million, compared to revenues of $294.3 million in Q2 2009 and an EBIT of $32.9
million.

§ Marine: Q2 2010 revenues were lower compared to the same period last year, primarily
driven by more time spent steaming and at yard, lower prices for Marine contract work
with 2009 having benefited from activity priced before the credit crunch, and lower
MultiClient pre-funding revenues. Industry capacity additions scheduled for 2010
continue to put pressure on conventional streamer pricing.

§ Most of the 2010 GeoStreamer capacity sold: Strong customer interest for GeoStreamer
continues. Ramform Valiant was equipped with GeoStreamer in June and Ramform Explorer
completed the same upgrade in July.

§ GeoStreamer price uplifts: Relative pricing differentiation for GeoStreamer work
continues to improve with margins of more than 1000 basis points above conventional
streamer margins.

§ Order book increasing: Order book increased by approximately $90 million from Q1 2010
and total order book is now $499 million.

§ Two break-through contracts for OptoSeis: PGS has signed an agreement with Petrobras
to install a fiber-optic system at the Jubarte field, and a collaboration agreement with
Shell to develop an onshore fiber-optic exploration and reservoir monitoring system.

§ More flexible credit facility: The Company amended its revolving credit and Term Loan
B facility in May 2010 to increase financial flexibility.

§ Negative net financial items: Foreign exchange fluctuations and amendment and
redemption of credit facilities resulted in a cost of $18.2 million in Q2 2010.

§ Organizational changes implemented: Following sale of the Onshore business PGS
implemented its new organizational structure.

§ EBITDA guidance maintained: The Company maintains its full year EBITDA guidance of
$450 million, supported by GeoStreamer success and increased MultiClient pre-funding
revenues in the second half, offset by a weak contract market for conventional streamers
and some MultiClient late sales uncertainty.

Jon Erik Reinhardsen, Chief Executive Officer and President of PGS, commented:

“The upgrade of Ramform Explorer to become one of the most efficient vessels in the
industry will together with the GeoStreamer upgrade of Ramform Valiant and delivery of
the new PGS Apollo pave the way for increased efficiency and reduced exposure to the
industry cycles. The second quarter was impacted by repositioning of vessels and
significant investments in vessel and GeoStreamer upgrades. New industry capacity will
continue to put pressure on pricing in the second half, but we remain on track to meet
our current full year EBITDA guidance.”

Key Financial Figures Quarter ended Six months ended June 30, Year ended December 31, 2009
(In millions of dollars, except per share data) June 30, Audited 1)
2010 2009 2010 2009
Unaudited Unaudited Unaudited Unaudited
Revenues from continuing operations $ 214.9 $ 294.3 $ 474.3 $ 685.1 $ 1,350.2
Adjusted EBITDA (as defined) 71.4 154.1 170.7 360.5 672.1
EBIT excluding special items 2) 5.3 81.2 40.1 236.3 386.9
EBIT 5.3 32.9 39.6 137.5 233.3
Income (loss) before income tax expense (27.4) 40.2 (12.4) 129.8 228.1
Net income (loss) to equity holders (22.3) 41.0 (6.1) 95.2 165.8
Basic earnings per share ($ per share) (0.11) 0.22 (0.03) 0.53 0.88
Diluted earnings per share ($ per share) (0.11) 0.22 (0.03) 0.53 0.88
Net cash provided by operating activities 63.8 208.1 179.3 353.5 676.1
Cash investment in MultiClient library 51.7 56.7 103.8 101.6 183.1
Capital expenditures 52.7 56.8 100.6 150.5 231.2
Total assets (period end) 2,690.4 3,132.4 2,690.4 3,132.4 2,929.4
Cash and cash equivalents (period end) 159.8 168.1 159.8 168.1 126.0
Net interest bearing debt (period end) $ 616.3 $ 962.1 $ 616.3 $ 962.1 $ 774.0

1) Financial information for the full year 2009 is derived from the audited financial
statements as presented in the 2009 Annual Report.
2) Impairment charges of $0.5 million in Q1 2010 and $153.6 million for the full year
2009.

Complete Q2 2010 earnings release can be downloaded at www.newsweb.no
http://www.newsweb.no/ or www.pgs.com http://www.pgs.com/

FOR DETAILS, CONTACT:
Tore Langballe, SVP Corporate Communications

Phone: +47 67 51 43 75

Mobile: +47 90 77 78 41

Bård Stenberg, Investor Relations Manager

Phone: +47 67 51 43 16

Mobile: +47 99 24 52 35

US Investor Services

Phone: +1 281 509 8712

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

UPDATE 1-Solvay Q2 oper. profit jumps; upbeat on plastics

AMSTERDAM, July 29 (Reuters) – Belgium’s Solvay (SOLB.BR), seeking acquisitions, rode rising plastics volumes to a 143 percent jump in quarterly operating profit from its plastics and chemicals units and said it expected plastics to remain strong.

Second-quarter recurring earnings before interest and tax (REBIT) from Solvay’s chemicals and plastics units was 194 million euros, beating the average estimate of 143 million euros from a Reuters poll.

Solvay, which produces PVC plastic used in construction and soda ash for glass, had restated REBIT from the two units of 80 million euros in the same period last year. Quarter-on-quarter REBIT rose 54 percent.

“The chemicals sector should realise a recurring operating result in line with that of last year, notwithstanding the price decreases,” the company said in a statement. “In plastics, the volume growth should support sharp REBIT expansion.”

Solvay, which sold its drugs unit to its U.S. partner Abbott (ABT.N) in September for 4.5 billion euros, reiterated its priority this year is to reinvest the cash, but gave no further hint on its acquisition plans.

Group REBIT was 183 million euros, a rise of 1 percent over last year, which included results from its drugs unit.

European chemicals companies have benefited from improved volumes as customers stock up again after the recession, while cost cuts have also helped to improved margins.

Germany’s BASF (BASF.DE), the world’s largest chemicals maker by sales, also saw improved volumes as it reported quarterly operating profit above estimates. [ID:nLDE66Q1HL]

BASF’s German peer Bayer (BAYGn.DE) and Switzerland’s Clariant (CLN.VX) are also opening their books on Thursday. (Reporting by Aaron Gray-Block)