Seitel presents best and final offer to Pulse Data (TSX: PSD) shareholders

    TORONTO, Oct. 1 /CNW/ - Seitel, Inc. increased its offer for Pulse Data
Inc. (TSX: PSD) common shares to $3.30 in cash per share. This is Seitel's
best and final offer and it will expire at 5:00 p.m. (Toronto time) on
October 12, 2007.
    Seitel recommends that Pulse Data shareholders seriously consider this
premium all-cash offer for a number of reasons:

    -   The apparent failure of Pulse Data's auction process.

    -   The disappointing results of the highly-touted sale of Pulse Data's
        Terrapoint businesses.

    -   The entrenchment of Pulse Data's existing management demonstrated by
        its continued refusal to engage in substantive negotiations with

    -   The fact that, in the face of significant economic uncertainty, and
        the corresponding impact on gas prices, Seitel is prepared to pay in
        cash a share price that exceeds any closing trading price ever
        achieved for Pulse Data shares.

    Seitel believes it has presented a highly attractive cash offer to Pulse
Data shareholders. Seitel is no longer attempting to join Pulse Data's
purported "sale process", having seen no evidence that the Pulse Data board or
management has any intention to seriously consider a sale of the company.
Seitel's majority shareholder, ValueAct Capital, believes in each and every
shareholder's fundamental right to decide for itself whether to accept a
premium all-cash offer for its shares. Since Pulse Data's entrenched board has
denied this opportunity to its shareholders, Seitel has chosen to make the
offer directly to Pulse Data shareholders and put the decision-making power
where it belongs -- in the shareholders' hands.

    Where Shareholders can obtain more information

    Pulse data shareholders that have any questions about how to tender their
shares under the offer are asked to please contact Seitel's Information Agent,
Innisfree M&A Incorporated at 1-888-750-5834 (English) or 1-877-825-8777

    About Seitel

    Seitel, Inc., a Delaware corporation, is a leading provider of seismic
data to the oil and gas industry in North America. It owns an extensive
library of proprietary onshore and offshore seismic data that it has
accumulated since its inception in 1982 and that it licenses to a wide range
of oil and gas companies. Seitel's seismic data library includes both onshore
and offshore 3D and 2D data. The majority of its onshore seismic data covers
sections of the U.S. Gulf Coast, including Eastern Texas, Southern Louisiana
and Mississippi, as well as Western Canada, the Rocky Mountains and Northern
Louisiana. Seitel also owns a library of offshore data covering parts of the
shelf and certain deep-water areas in the Western and Central U.S. Gulf of
Mexico and the waters off the coast of Eastern Canada. Seitel's customers
range from small and mid-cap exploration and production companies and private
prospecting individuals to large independent oil and gas companies and also
include global oil and gas companies.

    6818862 Canada Inc. is an indirect wholly-owned subsidiary of Seitel that
was incorporated for purposes of acquiring the common shares of Pulse Data and
for making the offer. The Offeror has not carried on any other business to
date. The Offeror's registered office is located at 1900 Canada Place,
407 2nd Street SW, Calgary, Alberta T2P 2Y3.

    Important Notice

    This announcement does not constitute or form part of any offer to sell
or invitation to purchase any securities or solicitation of an offer to buy
any securities, pursuant to the offer or otherwise. This announcement is for
information purposes and is not a substitute for the formal offer and
take-over bid circular. Pulse Data shareholders are urged to read the Offer to
Purchase and Circular, dated August 10, 2007, the Notice of Variation, dated
August 22, 2007, the Notice of Extension, dated September 18, 2007 and the
Notice of Variation and Extension, dated September 28, 2007 and any other
materials relating to the offer because they contain important information.
Copies of the circular and other materials relating to the offer can be
obtained when they become available free of charge at the SEDAR website at or from Innisfree M&A Incorporated at the numbers provided

    Certain statements contained in this press release may contain
forward-looking statements and are prospective. Words such as "anticipates",
"expects", "intends", "plans", "forecasts", "projects", "budgets", "believes",
"seeks", "estimates", "could", "might", "should", and similar expressions
identify forward-looking statements. Such forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that could
cause actual results, performance or achievements of Seitel to differ
materially from any future results, performance or achievements expressed or
implied by such forward-looking statements. Seitel disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable law.

For further information:

For further information: Questions may be directed to the Information
Agent for the offer at the telephone numbers provided above.

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