Brandenburg / Havel, Germany, June 3, 2010 – RapidEye, the only geospatial solutions provider to own and operate a constellation of five identical Earth Observation satellites, announced today that Panaxx Corporation will be its distributor in Japan. Panaxx is the fourteenth company to join RapidEye's quickly- growing worldwide distribution network.

John Ahlrichs, Vice President of RapidEye commented, “Panaxx is a well respected and successful organization that has established a geospatial division to grow the market for RapidEye imagery in Japan. We are very excited about working with Panaxx as they develop their team and form the partnerships required to support this very complex market.”

“We are very proud and excited to be the distributor of RapidEye data products in Japan”, commented Mr. Theodore M. Kato, CEO of Panaxx Corporation. “The RapidEye system delivers state of the art high quality satellite imagery; we are sure that this partnership will create many opportunities and a new customer base for RapidEye's data products.”

Currently, RapidEye continues to build its worldwide network of distributors in order to facilitate easy access to RapidEye products in their customers' own language and region. For a full list of RapidEye's distributors, please visit www.rapideye.de/distributors.

About Panaxx Corporation

Panaxx Corporation was established and began trading operations in 1963. It is now one of the leading trading companies in Japan, utilizing global network and information resources. The company is engaging in domestic trading, import/export, information and communications technology, aerospace, electronics, energy, forest products, general merchandise, food, hospitality, finance, realty, insurance, government relations and business investment in Japan and overseas.

About RapidEye AG

RapidEye is an ISO-certified geospatial information provider focused on integrating customized and industry specific solutions into the workflow of global customers in agriculture, forestry, energy, infrastructure, government, security and emergency. RapidEye experts and the satellite system – a constellation of five satellites capable of downloading over 4 million km² of high resolution, multi-spectral imagery per day, and a ground segment for processing and archiving data – allow for cost-effective customized services. The unique combination of large area coverage, high spatial resolution and the possibility of daily revisit to an area provide for superior management information solutions. Currently, more than 120 experts from more than 20 countries are employed by RapidEye, with plans to grow the team to 130 in 2010.

RapidEye benefits from a public-private partnership with the Space Agency of the German Aerospace Center (DLR), which is supported by the Federal Ministry of Economics and Technology. RapidEye is also co-financed by the European Regional Development Fund (ERDF) and the State of Brandenburg in Germany. For more information on ERDF please contact efreinfo@mw.brandenburg.de.

For more information about RapidEye, please visit www.rapideye.de.

RapidEye Contact
RapidEye AG
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14776 Brandenburg a. d. Havel, Germany
press@rapideye.de