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SEITEL REPORTS INCREASED 1991 EARNINGS AND REVENUES

         SEITEL REPORTS INCREASED 1991 EARNINGS AND REVENUES
    HOUSTON, Feb. 10 /PRNewswire/ -- Seitel, Inc. (NYSE: SEI), a


provider of seismic data to the petroleum industry, today reported increased operating results for 1991.
    For the year ended Dec. 31, 1991, revenues totaled $27.8 million, up 10 percent from the $25.4 million registered in 1990.  Net income in 1991 rose 17 percent to $6.0 million from the $5.2 million earned the year earlier.  Earnings per share amounted to $1.16, up 13 percent from $1.03 in 1990, based on 4 percent more weighted average shares outstanding in 1991.
    For the fourth quarter 1991, revenues were $7.5 million vs. $8.8 million in the 1990 final period.  Net income was $1.7 million, equal to $.32 per share, as compared to $1.8 million, or $.34 a share, in the year-earlier quarter, based on 3 percent more weighted average shares outstanding in the 1991 quarter vs. the year-ago period.
    The 1991 results represented the fifth straight year of increased earnings and revenues for Seitel.
    Seitel is a developer and marketer of seismic data, geophysical information used in the exploration and development of crude oil and natural gas.
                            Seitel, Inc.
          Consolidated Condensed Statements of Operations
        Periods ended                            12 Months
        Dec. 31                              1991         1990
    Total revenues                       $27,805,769  $25,371,826
    Amortization of data banks             9,066,173    9,255,383
    Selling, general and administrative
    expenses                               8,747,914    7,640,578
    Depreciation expense                      98,789       99,772
    Net interest expense                     786,453      521,724
    Total expenses                        18,699,329   17,517,457
    Income before provision for
    federal income taxes                   9,106,440    7,854,369
    Provision for federal income
    taxes                                  3,096,190    2,697,953
    Net income                           $ 6,010,250  $ 5,156,416
    Net income per share                 $      1.16  $      1.03
    Weighted avg. no. of
    shares outstng.                        5,200,936    4,985,789
        Periods ended                           Three Months
        Dec. 31  (unaudited)                 1991        1990
    Total revenues                       $ 7,498,329  $ 8,848,738
    Amortization of data banks             2,097,692    3,270,804
    Selling, general and administrative
     expenses                              2,520,853    2,594,394
    Depreciation expense                      24,920       22,879
    Net interest expense                     252,071      199,625
    Total expenses                         4,895,536    6,087,702
    Income before provision for
    federal income taxes                   2,602,793    2,761,036
    Provision for federal income
    taxes                                    884,950      966,220
    Net income                           $ 1,717,843  $ 1,794,816
    Net income per share                 $       .32  $       .34
    Weighted avg. no. of
    shares outstng.                        5,393,897    5,222,844
    NOTE:  All number of shares and per share amounts have been
    reinstated to give retroactive effect to a 4 percent stock
    dividend paid during 1991 on a 1 percent quarterly basis.
           The 1991 share amounts also include the full effect of
    500,000 shares issued in a secondary offering in May 1990.
    -0-                       2/10/92
    /CONTACT:  Jay M. Green of Seitel, 203-629-1400/
    (SEI) CO:  Seitel, Inc. ST:  Texas IN:  OIL SU:  ERN AH -- NY086 -- 8509 02/10/92 17:35 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Feb 10, 1992
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