GeoEye Celebrates GeoEye-1 Satellite's First Year in Space

DULLES, Va., Sept. 14 /PRNewswire-FirstCall/ -- GeoEye, Inc. (Nasdaq: GEOY - News), a premier provider of satellite and aerial-based geospatial information and services, marked the one-year launch anniversary of GeoEye-1, the world's highest resolution and most accurate commercial Earth-imaging satellite. The satellite was launched from Vandenberg Air Force Base, California on September 6, 2008.
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"The past year has been an exciting and rewarding one for GeoEye," said Bill Schuster, GeoEye's Chief Operating Officer. "With the launch of GeoEye-1 last September, we put into service the world's most advanced commercial imagery satellite, which is delivering the highest resolution, most accurate color satellite imagery available today."
In celebration of this Sept. 6 anniversary, GeoEye tasked the GeoEye-1 satellite to collect a half-meter resolution image of Madrid, Spain on Sept. 7. The full high-resolution image is featured on GeoEye's corporate home page at: www.geoeye.com, under "Featured Satellite Imagery," along with other stunning images including the 2009 Burning Man Festival, Black Rock Desert, Nevada; Victoria Falls, Zimbabwe; construction of the Vancouver 2010 Olympic venues, British Colombia; and San Francisco Bay in northern California.
Since its launch, GeoEye-1 has imaged every continent in the world and chronicled several noteworthy events this year, including President Obama's inauguration ceremony in Washington, D.C. in January. In April, GeoEye-1 photographed a North Korean missile facility just moments before the launch of a long-range missile. The GeoEye-1 satellite has collected approximately 54 million square kilometers of imagery and taken over 200,000 images since its launch.
"The strong partnership between GeoEye and General Dynamics Advanced Information Systems delivers tremendous value to our customers," said Dave Shingledecker, Vice President of Integrated Space Systems for General Dynamics Advanced Information Systems. "We are aligned in our commitment to the imagery market and possess complementary capabilities and business strategies. We have an exciting future as we work together to further enhance commercial imagery."
GeoEye began delivering GeoEye-1 imagery to Google Inc. for both the Google Earth and Google Maps services in March. A sample of images from GeoEye-1, including the Great Pyramid of Giza, Egypt; Borneo, Indonesia; Cabo Polonio, Uruguay; and British Columbia, Canada can be seen at http://earth.google.com/geoeye/.
Plans are in development for GeoEye-2, another high-resolution satellite. GeoEye has contracted with ITT Corporation (NYSE: ITT - News) to build the GeoEye-2 high-resolution camera and electronics. ITT's work could be used to accelerate the development of GeoEye-2, so that it could begin commercial operations in 2013.
About GeoEye
GeoEye, Inc. is an international information services company serving government and commercial markets. The Company is recognized as one of the geospatial industry's imagery experts, delivering exceptional quality imagery products and solutions to customers around the world. Headquartered in Dulles, Virginia, the Company has 534 employees, as of June 30, 2009, dedicated to developing best-in-class geospatial, communications and information products, systems and services. The Company provides support to academic institutions and non-governmental organizations through the GeoEye Foundation (http://www.geoeyefoundation.org). GeoEye is a public company listed on the NASDAQ stock exchange under the symbol GEOY. Additional information about GeoEye is available at www.geoeye.com.
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This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will," and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures, and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2008, which we filed with the Securities and Exchange Commission ("SEC") on April 2, 2009, and our Quarterly Report on Form 10-Q for the period ended March 31, 2009 and June 30, 2009, which we filed with the SEC on May 12, 2009 and Aug. 10, 2009, respectively.
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