Press Release

SpaceDev and Boeing Team on Commercial Deep-Space Missions

By SpaceRef Editor
February 1, 2000
Filed under

Lunar, Mars and Asteroid Missions to be Assessed

Poway, Calif., and Huntington Beach, Calif., February 1, 2000 —
SpaceDev, Inc. (OTCBB: SPDV), the world’s first commercial
space exploration and development company, and The Boeing
Company (NYSE: BA), the world’s largest aerospace company,
announced today that they have teamed together to investigate
opportunities of mutual strategic interest in the commercial deep-
space arena.

Under terms of an agreement recently approved by the companies,
the Boeing Space and Communications Group will team with
SpaceDev’s Space Missions Division to investigate a variety of
small, low-cost, deep-space mission initiatives formulated by
SpaceDev.

In coming months, technical and corporate staff from each
company will further refine and advance SpaceDev’s concept of
commercial missions to the Moon, Mars and near-Earth asteroids,
involving micro-spacecraft of 250 kg mass. The effort also includes
a global assessment of the market potential for such missions, and
a technical and programmatic assessment of launch-vehicle
options for such missions.

“I believe that the next major ‘New New Thing’ will be the no-holds
barred, explosive opening of space by the private sector and the
convergence of space with the Internet, providing huge amounts of
unique content and the largest Internet audience delivery
mechanism to date,” said Jim Benson, SpaceDev Chairman and
CEO. “We are very pleased that Boeing has decided to join us in
looking at the business case for trailblazing missions to
commercially and scientifically explore the territory of the inner
solar system. We look forward to working with the experienced
Boeing team to help get these unique and historic missions off the
ground,” Benson said.

SpaceDev has been refining the design of its commercial Near
Earth Asteroid Prospector (NEAP) mission since 1997 and started
offering commercial, fixed-price Mars probe-carrier and Moon
orbiter missions with real-time streaming video last year. In
November 1999 the company competitively won a contract from
University of California, Berkeley to design, build, integrate, test
and operate the CHIPSat astronomy micro-spacecraft, NASA’s first
University-Class Explorer (UNEX) mission to proceed into the
implementation phase.

Commenting on the agreement with SpaceDev, Rick Stephens,
Boeing vice president and general manager for Reusable Space
Systems, said, “Boeing recognizes the potential for the
commercial exploration of space and we applaud SpaceDev’s
entrepreneurial efforts in paving new inroads in this emerging
market area. This collaborative effort will allow us to substantiate
the projected market demand for commercial deep space missions
and jointly develop future market-driven solutions to meet this
demand.”

About SpaceDev

SpaceDev offers low cost commercial lunar, Mars and asteroid
missions for sale as turnkey commercial products, a first for the
industry. Also a first, SpaceDev offers fixed-price package delivery
for science instruments and technology demonstrations into earth
orbit, deep space and to other planetary bodies. SpaceDev designs
and sells small, low-cost Earth-orbiting commercial or research
satellites. The company is currently designing small, inexpensive
orbital transfer vehicles (e.g. satellite inspectors and space tugs),
and secondary payload micro-kick motors. SpaceDev has
acquired hybrid sounding rocket, motor, and launch vehicle
designs, and intellectual property rights produced by the former
American Rocket Company (AMROC).

Established in 1997, SpaceDev (www.spacedev.com) is the world’s
first commercial space exploration and development company.
SpaceDev’s corporate offices, its wholly owned subsidiary
Integrated Space Systems (ISS, www.spaceinc.com) and the firm’s
Space Missions Division are located near San Diego in Poway,
Calif.

About Boeing

The Boeing Company (www.boeing.com), based in Seattle, Wash.,
is the largest aerospace company in the world (as measured by
total sales) and the nation’s leading exporter. Boeing is the world’s
largest manufacturer of commercial jetliners and military aircraft,
and the nation’s largest NASA contractor.

The Boeing Space and Communications Group in Seal Beach,
Calif., produces and operates the highly successful Delta family of
launch vehicles and is a key partner on the new Sea Launch
commercial launch system. As a partner in United Space Alliance
(USA), a joint venture with Lockheed Martin (NYSE:LMT)
Astronautics, the Group provides overall system integration and
other technical services for the Space Shuttle fleet. It is also prime
contractor to NASA for the design, development and on-orbit
performance of the U.S. components of the 16-nation International
Space Station. The Group has built 40 Navstar Global Positioning
System (GPS) spacecraft and leads a team on contract to the
U.S. Air Force to design, develop and produce the next-generation
GPS satellites – the 33-satellite Block IIF.

Forward-Looking Statements

The foregoing press release includes numerous forward-looking
statements concerning the company’s business and future
prospects and other similar statements that do not concern
matters of historical fact. The federal securities laws provide a
limited “safe harbor” for certain forward-looking statements.
Forward-looking statements in this press release relating to
product development, business prospects and development of a
commercial market for technological advances are based on the
company’s current expectations. The company’s current
expectations are subject to all of the uncertainties and risks
customarily associated with new business ventures including, but
not limited to, market conditions, successful product development
and acceptance, competition and overall economic conditions, as
well as the risk of adverse regulatory actions. The company’s
actual results may differ materially from current expectations.
Readers are cautioned not to put undue reliance on forward-looking
statements. The company disclaims any intent or obligation to
update publicly these forward-looking statements, whether as a
result of new information, future events or for any other reason.

For more information:

James Benson

Chief Executive Officer

(858) 375-2020

Commercial Space Products & Services

LEO & GEO Comm Sats, Micro-kick motors

Asteroid, Lunar and Mars Missions

Small Spacecraft & Launch Vehicle Design

www.spacedev.com


SpaceRef staff editor.