GeoEye Inc. : Newman Ferrara LLP Announces Investigation of GeoEye, Inc.

Newman Ferrara LLP (www.nfllp.com) has begun an investigation into potential claims against the board of directors of GeoEye, Inc. ("GeoEye") (Nasdaq: GEOY) concerning the proposed sale of GeoEye to rival satellite-imagery company DigitalGlobe, Inc. ("DigitalGlobe") (NYSE: DGI).

On July 23, 2012, GeoEye announced that its board of directors unanimously approved a definitive merger agreement under which DigitalGlobe will acquire GeoEye in a stock and cash transaction valued at approximately $900 million. Under the terms of the merger agreement, GeoEye shareholders will have the option to receive either: (1) 100% of the consideration in cash at $20.27 per share of GeoEye common stock held; (2) 100% of the consideration in DigitalGlobe stock at 1.425 shares of DigitalGlobe common stock per share of GeoEye common stock held; or (3) a combination of cash and stock at $4.10 in cash and 1.137 shares of DigitalGlobe common stock per share of GeoEye common stock held. If a GeoEye shareholder does not make an election, such shareholder will receive the combination of cash and stock option. The transaction is expected to close in the first quarter of 2013.

The announcement of DigitalGlobe's acquisition of GeoEye comes only several months after DigitalGlobe rejected a May 7, 2012 buyout offer from GeoEye to acquire DigitalGlobe for approximately $792 million, claiming that $792 million was an inadequate offer price. While GeoEye called its buyout offer a "friendly" offer, DigitalGlobe termed it "hostile" and claimed that $792 million "substantially undervalues" DigitalGlobe.

Newman Ferrara LLP's investigation concerns whether GeoEye's board of directors is fulfilling its fiduciary duties to act in the best interests of GeoEye's shareholders and to take all necessary steps to ensure that GeoEye's shareholders receive the maximum value reasonably available for their shares of GeoEye common stock.

Concerned investors are encouraged to contact Newman Ferrara attorney Roy Shimon at [phone] or [e-mail] to discuss this investigation, their rights, or potential remedies.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation with an emphasis on securities, ERISA, consumer fraud, products liability, civil rights and real estate. For more information, please visit the firm website at www.nfllp.com.

CONTACT:

Newman Ferrara LLP
Attorney:
Roy Shimon
1250 Broadway, 27^th Fl.
New York, NY 10001
[e-mail]
tel. [phone]
http://www.nfllp.com

Newman Ferrara LLP
Roy Shimon, [phone]
[e-mail]