SpaceDev Announces Second Quarter 2004 Earnings Release and Conference Call

SpaceDev (OTCBB: SPDV) expects to release its financial results for the second quarter
on Tuesday, August 10, 2004 before the markets open, and will host a
conference call later that morning at 11:00 a.m. EDT to discuss these
results.

SpaceDev invites all those interested in hearing management’s
discussion to join the call by dialing 1-800-811-7286. International
participants may access the call by dialing 1-913-981-4902.
Participants may also access a live webcast of the conference call
through the investor relations section of SpaceDev’s web site,
www.spacedev.com. The replay will be available for 90 days.

About SpaceDev

SpaceDev (OTCBB: SPDV) creates and sells affordable and innovative
space products and solutions to government and commercial enterprises.
SpaceDev’s innovations include the design, manufacture, marketing and
operation of sophisticated micro- and nano- satellites, hybrid
rocket-based orbital Maneuvering and orbital Transfer Vehicles (MoTVs)
as well as sub-orbital and orbital hybrid rocket-based propulsion
systems for safe human space flight. For more information, visit
www.spacedev.com.

This news release may contain forward-looking statements.
Forward-looking statements are based on the Company’s current
expectations. Actual results may differ materially from current
expectations. Readers are cautioned not to put undue reliance on
forward-looking statements contained in this release and to read it in
conjunction with the Company’s annual report on Form 10-KSB, including
the consolidated financial statements filed therewith.

Contact:

Investor Contact:

The Investor Relations Group

Kathryn McNeil / John Nesbett

212-825-3210