For Immediate Release
Tuesday, May 18, 2004

COUNTY, STATE WELCOME GRUPO GMV TO MARYLAND
European Technology Corporation Locates US Subsidiary in Rockville

Reaffirming the County and State’s commitment to bolstering Maryland’s reputation as the ideal location for international companies, County Executive Douglas M. Duncan today joined with state and local officials to welcome Grupo GMV as it announced the opening of its fully-owned US subsidiary, GMV Space Systems, Inc. After an exhaustive national search, Grupo GMV and GMV Space Systems, Inc. officials opened its offices at 1 Research Court in Rockville on May 17, 2004.

“Montgomery County is very proud to welcome GMV Space Systems and we are thrilled to be the U.S. home of one of Europe’s leading space, defense and transportation companies,” said Duncan. “With its mission of providing some of the most advanced support services to the space industry, GMV Space Systems fits in perfectly with Montgomery County’s ever growing community of dynamic and innovative advanced technology companies. This is another great example of the state, county and city working together to attract the best and brightest of the business world.”

“We are delighted to be locating our offices in Rockville, along the high-tech corridor of Montgomery County,” said Luis Mayo, CEO of Grupo GMV. “We believe that this location makes good business sense and will allow for future growth of the company. We would like to thank the officials who supported us in our decision, both from the State of Maryland as well as from Montgomery County and the City of Rockville. We strongly value the State of Maryland’s commitment to high-tech companies and appreciate their support.”

The newly established subsidiary will focus its activities in the space market with the aim of becoming a reliable supplier to the U.S. government and American space industry. It plans to offer a wide array of solutions and systems that have been developed by its parent company for the European Space market over the last 20 years. These solutions include mission analysis, systems engineering, satellite control, flight dynamics, data processing and navigation systems.

“In today’s increasingly global marketplace businesses can locate almost anywhere. We are extremely pleased that Grupo GMV has decided to establish its subsidiary here in Maryland,” said Aris Melissaratos, Secretary of Business and Economic Development. “Maryland’s number one ranking for the highest percentage of professional and technical workers in the nation and the intellectual power of research centers in more than 200 federal agencies and universities located across the State are key elements in attracting the high technology firms of today and tomorrow.”

Grupo GMV has long been established as a leading supplier of Space Systems in the European market with customers both in the Government and Industry. The opening of GMV Space Systems, Inc. fits into the expansion strategy of Grupo GMV to grow the company into a global player, building on the company’s strengths and growing global customer base.

“The City of Rockville is truly honored to have been chosen as the U.S. home for GMV Space Systems and it is with much enthusiasm and great pleasure that we welcome the company as the newest member of our community,” said Rockville Mayor Larry Giammo. “Rockville continues to be recognized as an attractive choice for successful international companies seeking to expand into the U.S. market. Our City has a lot to offer businesses of all sizes, and we are thrilled GMV Space Systems decided to take advantage of these opportunities.”

Grupo GMV was initially introduced to the region by the Greater Washington Initiative (GWI). GWI then contacted jurisdictions throughout the region and set up meetings with Grupo GMV officials. Grupo GMV chose Montgomery County, Maryland over neighboring jurisdictions in Virginia for many reasons including: Maryland’s high-tech orientation and Montgomery County’s track record of actively pursuing advanced technology companies. In addition, as the home to NASA Goddard and NOAA, Maryland offered unparalleled proximity to key federal agencies.

For more information about Grupo GMV and GMV Space Systems, Inc., please log onto www.gmvspacesystems.com.

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