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GeoEye Wins Contract to Build Vessel Monitoring System for Republic of Maldives

January 6, 2011

DULLES, Va., Jan. 6, 2011 /PRNewswire/ — GeoEye, Inc. (Nasdaq: GEOY), a premier provider of superior satellite and aerial-based geospatial information and services, announced today it has won a contract from the Republic of the Maldives for a vessel monitoring system that is being developed for fisheries management and safety. This information services project expands GeoEye’s expertise and presence in location-based information products and services.

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As part of this contract, GeoEye will build the secure infrastructure for a countrywide vessel monitoring system and supply ten Osprey Personal Tracker(TM) terminals for a trial deployment. GeoEye’s vessel monitoring system will display vessel positions and consolidate fish catch reports from the Osprey terminals in near-real-time for review by fisheries management personnel at the Ministry of Fisheries and Agriculture. The vessel monitoring system also provides the customer with two-way text communication by satellite for both routine and emergency purposes. An integrated “panic button” on each Osprey unit will alert Maldives emergency services to vessels in distress. Vessel positions and messaging will be tracked securely through a comprehensive Web-based control system and database that will include satellite-derived oceanographic charts that GeoEye will update daily.

Adam Manik, director of the Fisheries Development Services section at the Ministry of Fisheries and Agriculture, said, “GeoEye scored highest among the competing firms on their technical proposal and offered the most competitive price. We look forward to working with GeoEye to meet our project targets.”

Gregory Hammann, senior director, Marine Services Operations and Engineering at GeoEye, said, “Our cost-effective tracking and messaging solution is perfect for managing the large artisanal fishing fleets of the developing world. GeoEye welcomes the opportunity to build the vessel monitoring system for the Maldives.”

The Osprey Personal Tracker terminals are manufactured by EMS Global Tracking and sold by GeoEye within the commercial and government fisheries sectors. These terminals report latitude/longitude (GPS) positions on a pre-programmed frequency using the Inmarsat global satellite constellation.

About GeoEye

GeoEye, Inc. is a leading 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, services and solutions to customers around the world. In August 2010, GeoEye was named one of Fortune Magazine’s “100 Fastest-Growing Companies” in the United States. The Company has more than 700 employees dedicated to developing best-in-class geospatial information products and services. 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, 2009, which we filed with the Securities and Exchange Commission (“SEC”) on March 12, 2010, and our Quarterly Reports on Form 10-Q for the period ended March 31, 2010, June 30, 2010 and Sept. 30, 2010, which we filed with the SEC on May 10, 2010, Aug. 9, 2010 and Nov. 9, 2010, respectively. Copies of all SEC filings may be obtained from the SEC’s EDGAR Web site, http://www.sec.gov/, or by contacting: William L. Warren, Senior Vice President, General Counsel and Secretary, at 703-480-5672.

SOURCE GeoEye, Inc.


Source: newswire