Teams With Lockheed Martin and Raytheon for Development of a Next-Generation Imaging Satellite

Space Imaging reacted today to the
President’s newly released White House policy titled U.S. Commercial Remote
Sensing Space Policy ( http://www.ostp.gov/html/new.html ). The policy
concerns the commercial remote sensing industry and the government’s
commitment to it. The Bush Administration’s new directive, under interagency
review for a year, was announced by the White House on May 13, 2003. The
directive strengthens the government’s long-term objective to establish
domestic high-resolution satellite imagery companies as world industry leaders
and states that it is in the national security interest to have a strong and
competitive commercial remote sensing industry anchored on U.S. shores.

Delivering a keynote address at a U.S. Government-sponsored conference on
commercial remote sensing in Washington, D.C. today, Secretary of Commerce Don
Evans said, “The remote sensing industry is poised for great market
penetration. At our department, we recognize the promise of the remote
sensing industry.” During Operation Iraqi Freedom the industry “provided
timely and accurate information,” said Secretary Evans.

“This is a forward-looking policy that confirms the government’s long-term
commitment to the high-resolution commercial satellite industry,” said Robert
Dalal, CEO of Space Imaging. This new directive supersedes one signed by
President Clinton in March 1994 and supports the U.S. in maintaining a
competitive commercial high-resolution satellite business in the worldwide
market. “Nine years ago, the White House committed to enhance U.S. industrial
competitiveness in the remote-sensing field. Today, the White House stated
the government will rely, to the maximum practical extent, on U.S. commercial
capabilities and ensure U.S. companies continue to lead this important
emerging technology,” said Dalal.

Dalal continued, “I’m also pleased that the new policy directs many
federal agencies to use commercial satellite imagery and services. The
Pentagon’s National Imagery and Mapping Agency (NIMA) is already a key
customer, now other agencies will have an opportunity to see the value in our
imagery. Space Imaging has led this industry with double-digit growth and by
being the first company in the world to launch a commercial high-resolution
satellite. We are producing timely imagery at the right price, resolution and
capacity needed by government users.”

Encouraged by this policy, Space Imaging also announced that it is teaming
with its key investors, Lockheed Martin Corporation and Raytheon
Company, as principal sub-contractors to bid for NextView.
NextView is NIMA’s competitive contract that assures the availability of
high-resolution imagery from next generation U.S. commercial imaging
satellites.

“This team brings to our government the experience and strength of Space
Imaging, the technical expertise of a world class satellite builder, and the
extensive knowledge required to manage and process satellite imagery once it
has been sent to ground receiving stations,” said Dalal. “There is a huge
demand for geospatial information and products and I don’t think we could be
more excited about our teaming arrangement, especially given the proven
business and technological achievements and space legacies of our partners.”

The Pentagon’s proposed NextView contract and the new White House policy
are part of a growing trend that demonstrates the government intends to use
and rely on the commercial industry’s investment in satellite imagery
technology.

In November 2002, Space Imaging applied for a .25-meter license with the
National Oceanic and Atmospheric Administration (NOAA). This license would
enable Space Imaging to build and launch an imaging system that will be able
to see objects on the ground as small as a quarter meter in size. Space
Imaging has a .5-meter license from NOAA approved in December 2000 and a
.4-meter license approved in November 2002. For more information regarding
licensing of commercial remote sensing satellite systems, see:
http://www.licensing.noaa.gov .

About Space Imaging

Space Imaging is the premier provider of satellite imagery enabling
businesses, governments and individuals to better map, measure, monitor and
manage the world in which we live. Based near Denver, Colo., Space Imaging
radically transformed the Earth information market when in 1999 it launched
IKONOS, the world’s first commercial high-resolution imaging satellite.
Today, Space Imaging’s products are the cornerstone of the remote-sensing
industry. The company supplies the highest quality, most accurate, visual
information about the planet’s changing natural and cultural features. Space
Imaging’s customer-centric business lines include imagery from satellites and
aircraft, decision-support geospatial solutions, and direct access to its
satellites for corporations and governments. With expected 2003 revenues over
$200 million, Space Imaging is a privately held company with partners,
resellers and 13 affiliate ground stations around the world. For more
information on products and services, please visit www.spaceimaging.com .