ORBIMAGE is a leading global provider of earth imagery products and services, with digital remote sensing satellites and an integrated worldwide image receiving, processing and distribution network. On September 16, 2005, ORBIMAGE announced an agreement in principle to acquire Space Imaging. When the Space Imaging acquisition is completed, the combined company will be the largest commercial remote sensing company in the world.
ORBIMAGE currently operates the high resolution OrbView-3 satellite, which is capable of measuring, mapping and monitoring objects smaller than automobiles and spectrally differentiating thousands of land use/land cover types. In addition to OrbView-3, ORBIMAGE also operates the OrbView-2 ocean and land multispectral imaging satellite and the SeaStar Fisheries Information Service, which provides maps derived from essential oceanographic information to aid in commercial fishing. The company is currently building a next- generation satellite, OrbView-5, to support the National Geospatial Intelligence Agency's NextView image acquisition program.
ORBIMAGE also produces value-added imagery products and provides advanced photogrammetric engineering services at its St. Louis facility. The company distributes its products directly to the U.S. government for national security and related mapping applications. Commercial sales are handled primarily through a worldwide network of value-added resellers, regional distributors, sales agents and select strategic partners.
For more information about ORBIMAGE, please see our web site at http://www.orbimage.com.
This release contains forward-looking statements within the meaning of section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties. ORBIMAGE's actual financial results could differ materially from those anticipated due to the company's dependence on conditions in the remote sensing industry, the level of new commercial imagery orders, production rates for advanced image processing, the level of defense spending, competitive pricing pressures, start-up costs and possible overruns on new contracts, and technology and product development risks and uncertainties. Please refer to our press release dated May 4, 2005 for additional detail regarding these risks and uncertainties.
CONTACT: William Warren of ORBIMAGE Holdings Inc., +1-703-480-5672, or
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Web site: http://www.orbimage.com/
