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In light of PGS’ restatement of previously published US GAAP audited consolidated financial statements for the year ended December 31, 2001 and adjustments to the previously disclosed US GAAP consolidated financial statements for the year ended December 31, 2002, PGS advises investors not to rely on its (1) previously published audited US GAAP financial statements for 2001 and prior years or (2) unaudited US GAAP financial statements previously disclosed for 2002, for quarterly periods during years prior to 2003 or for the first three quarters of 2003. PGS advises investors not to rely on such previously published financial information, disclaims any ongoing responsibility for such previously published financial statements and urges investors to read its 2003 Annual Report of Form 20-F, which contains the Company’s audited US GAAP financial statements for the years ended December 31, 2001, 2002 and 2003.