This paper is Part I of a two-part work in which we derive localizatio
n theory for elastic waves in plane-stratified media, a multimode prob
lem complicated by the interconversion of shear and compressional wave
s, both in propagation and in backscatter. We consider the low frequen
cy limit, i.e., when the randomness constitutes a microstructure. In t
his part, we set up the general suite of problems and derive the proba
bility density and moments for the fraction of reflected energy which
remains in the same mode (shear or compressional) as the incident fiel
d. Our main mathematical tool is a limit theorem for stochastic differ
ential equations with a small parameter. In Part II we will use the li
mit theorem of Part I and the Oseledec Theorem, which establishes the
existence of the localization length and other structural information,
to compute: the localization length and another deterministic length,
called the equilibration length, which gives the scale for equilibrat
ion of shear and compressional energy in propagation; and the probabil
ity density of the ratio of shear to compressional energy in transmiss
ion through a large slab. This last quantity is shown to be asymptotic
ally independent of the incident field. We also extend the results to
the small fluctuation, rather than the low frequency case.