GeoEye Announce Delay in Filing Earnings Statement

19 August 2008, 1:48pm

DULLES, Va., Aug. 19 - GeoEye, Inc. (NASDAQ: GEOY), a premier provider of satellite, aerial and geospatial information, announced today the filing of its Security and Exchange Commission 10-Q for the second quarter of 2008 and its restatements for 2005, 2006 and 2007 and the first quarter of 2008 will be delayed for up to two weeks. The additional time is required to re-calculate the proper interim period allocations of the penalties and interest related to the National Geospatial-Intelligence Agency's (NGA) milestone cost-sharing payments made to the company under the terms of the Government's NextView contract.

The issue under review relates to the accrual of payments made by the NGA within individual quarters during the development of the GeoEye-1 satellite.

The Company continues to believe that a filing made with the IRS on August 8, 2008 will eliminate the penalties and interest in the third quarter of 2008 as discussed in its earnings release dated August 12, 2008.

The NextView program is designed to ensure that the NGA has access to commercial imagery in support of its mission to provide timely, relevant and accurate geospatial intelligence in support of national security. The Company was awarded its NextView contract in September 2004 and plans to launch the GeoEye-1 satellite on September 4, 2008 from Vandenberg Air Force Base, California. The satellite was lifted onto and mated with the launch vehicle
yesterday at Space Launch Complex 2W. As announced August 15, the Company obtained formal approval for the September 4 launch from the U.S. Air Force.

www.geoeye.com

Geo: International