Pulse Seismic Inc T.PSD

PSD announces special shareholders meeting

[I_luv_GVG]

Hello everyone, Pulse Data announces special shareholders meeting to re-confirm its Shareholder Rights Plan in light of Seitel's "best and final" offer 10/3/2007 CALGARY, Oct. 3, 2007 (Canada NewsWire via COMTEX News Network) -- TSX: PSD Pulse Data Inc. ("Pulse" or the "Company") announces that a special shareholders meeting will be held at 10:00 a.m. (Calgary time) on November 9, 2007 at the Calgary Petroleum Club to re-confirm its Shareholder Rights Plan (the "Plan"). The Board of Directors of Pulse believes that shareholders should have the opportunity to re-confirm the Plan in light of Seitel's "best and final" offer. The Plan provides important protection to shareholders in case of take-over bids such as the amended offer by Seitel. The Plan prevents a creeping take-over of the Company, by requiring that any take-over bid be accepted by shareholders holding a majority of the outstanding shares (other than those held by the offeror and its joint actors). The Plan was recently overwhelmingly approved by Pulse's shareholders at a special shareholders meeting on September 21, 2007. On September 27, 2007, the Alberta Securities Commission dismissed an application by Seitel to cease-trade the Plan. In the oral reasons for its decision, the Alberta Securities Commission noted the unique circumstances present including, among other things, that the Plan had very recently been approved by the shareholders in the context of the original Seitel offer of $3.10 per share ($3.0625 after deducting Pulse's dividend paid on September 20, 2007). The Alberta Securities Commission also indicated that Seitel was free to re-apply to cease-trade the Plan should circumstances change. On September 28, 2007, Seitel amended its offer to $3.30 per share ($3.2625 after deducting Pulse's dividend paid on September 20, 2007). In its news release on October 1, 2007, Seitel stated that the amended offer was its "best and final" offer. Pulse management has been advised by significant institutional shareholders that a senior officer of Seitel has been contacting shareholders and re-iterating that the amended offer is Seitel's "best and final" offer. Pulse expects to mail an information circular for the special shareholders meeting by October 19, 2007 to its shareholders of record at October 12, 2007. Disclaimer: Certain information contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Investors are encouraged to review the "Risk Factors" section of the Management's Discussion and Analysis in the Company's most recent Annual Report and interim reports for a discussion of risks that could affect the Company's operations and financial results. Forward-looking statements are based upon management's assumptions, expectations and estimates at the time that such statements are made. Pulse does not update forward-looking statements should circumstances change or management's assumptions, expectations or estimates change, unless required by law. SOURCE: Pulse Data Inc. Douglas Cutts, President and C.E.O., Tel: [phone], Toll-free: 1-877-460-5559, E-mail: [e-mail]; Please visit our website at www.pulsedatainc.com GLTA, I_luv_GVG