This beam was developed as a target for a crossed-beam electron-atom scattering experiment on the interaction of a polarized spin-1/2 electron with a polarized spin-1 atom. In the future this beam will be used in "Spin-Polarized Metastable Atom Deexcitation Spectroscopy" (SPMDS) for studying ferromagnetic surfaces without and with adsorbate layers. We use a discharge source for producing a beam of metastable helium atoms, a permanent sextupole magnet with a central stop at its exit for selecting He(2^3 S) atoms in the Zeeman substate ms=+1, a zero-field spin flipper for reversing the atomic beam polarization with respect to a magnetic guiding field, and a Stern-Gerlach magnet for analyzing the atomic polarization. At a distance of 90 cm beyond the exit of the sextupole, in the "interaction region" of an experiment, the polarized beam has a circular cross section of about 6 mm FWHM and a particle density of 1·10^7 atoms/cm^3. The reversible spin polarization was determined asP=0.90±0.02. A possible contamination of the beam with metastable singlet atoms is included within this value; the ground-state He atoms are not considered to be part of the polarized beam. An observed contamination with long-lived Rydberg atoms can easily be destroyed by applying a high electric field.