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GEO Receives Annual INFONAVIT Mortgage Origination Award.

MEXICO CITY, Feb. 15, 2011 /PRNewswire/ -- Corporacion GEO, S.A.B. de C.V. (BMV: GEOB; GEOB: MM, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, Mexico's leading affordable entry level housing developer, has again received INFONAVIT's annual award for the third consecutive year as the homebuilder originating the most housing credits through INFONAVIT in 2010. This award is further affirmation of GEO's leadership position in the sector.

GEO originated 43,907 mortgages through INFONAVIT in 2010; 66% more mortgages than its closest peer. In line with its low-income focused strategy, the Company has continued to increase its market share with INFONAVIT; reaching 9.2% in 2010, up from 8.1% at the end of 2009. As a result, the number of registered credits increased 21% from the 36,299 in 2009.

Corporacion GEO's CEO Luis Orvananos Lascurain received the award, commenting: "2010 was a challenging economic year. This award is the direct result of our entire team's efforts, and focus on providing Mexican families with high-quality, affordable low-income housing. We will continue to show each of our clients that when they purchase a GEO home they can be certain their home will improve their quality of life while continuing to add long-term added value."

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 19 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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Publication:PR Newswire
Geographic Code:1MEX
Date:Feb 15, 2011
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