GEO Begins Operations in the State of Chiapas, Mexico

MEXICO CITY, Aug. 18 /PRNewswire-FirstCall/ -- Corporacion GEO, S.A.B. de C.V. (BMV: GEOB; CORPGEO MX, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, Mexico's leading affordable entry-level housing developer, announced today the commencement of operations in the state of Chiapas, expanding GEO's presence to 57 cities and municipalities across 18 Mexican states.

The "Montebello" development, located near the city of Tuxtla Gutierrez in Chiapas, will be phased throughout five years of construction and commercialization and will have 7,700 lower-income houses.

As part of GEO's commitment to preserve the environment, the company will also build a water recycling plant and provide bike routes as an alternative means of transport. Additionally, the community will also have basic services such as schools, parks, and commercial areas.

The project announced today is part of GEO's broader strategy of expanding its leadership in the low-income housing industry, providing sustainable communities for Mexico's families.

About Corporacion GEO, S.A.B. de C.V.

Corporacion GEO is a leading housing developer in Mexico and one of the largest in Latin America. The Company is engaged in all aspects of design, development, construction, marketing, sales and delivery of mainly low-income housing developments in Mexico. With operations in 57 cities and municipalities across 18 states, GEO is one of the most geographically diversified homebuilders in Mexico. Since its inception GEO has sold more than 510,000 homes which currently provide housing to 2,000,000 people. GEO's Solid Business Model focuses mainly in the Affordable Entry Level and Economic segments, which are supported by government policies and by the Mexican Housing Institutions INFONAVIT and FOVISSSTE. For more information, visit www.corporaciongeo.com

SOURCE Corporacion GEO, S.A.B. de C.V.

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