Press Release

SpaceDev Auctioning Microsatellite Mission On eBay

By SpaceRef Editor
November 12, 2003
Filed under , ,

SpaceDev is auctioning a world exclusive private space mission on eBay.
This first of its kind eBay auction is being listed for the ten-day
period of 8:00 PM (PST) Monday, November 10, through 8:00 PM (PST)
Thursday, November 20th.

The SpaceDev space mission auction is at:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2572382454&
category=45046&rd=1(Due to the length of this URL, it may be
necessary to copy and paste this hyperlink into your Internet
browser’s URL address field.)

Most earth orbiting small satellite missions can cost $25 million
or more, not including the launch. To demonstrate the affordability of
private space missions, SpaceDev has posted a “Buy it Now” price of
$9.5 million which includes an insured launch and on-orbit insurance.
The high bidder will win a spacecraft based on SpaceDev’s Maneuvering
and orbit Transfer Vehicle (MTV(TM)).

“I founded SpaceDev to accelerate the development of space, to get
the public involved in space, and to have fun,” said Jim Benson,
SpaceDev founder and CEO. “With our successful launch and operation of
CHIPSat earlier this year, and after being competitively selected to
provide safe hybrid rocket propulsion for manned space flight, we are
offering this unique space mission to the public.”

The high bidder has the right to supply his or her own payload, to
name the SpaceDev MTV(TM) satellite and to name the mission. The
winning bidder, which could be an individual, company or government
agency, can also be involved in the mission design, satellite assembly
and testing (including putting small personal items on the
spacecraft), can attend the launch, and can participate in on-orbit
operations.

The nominal payload is a camera that provides a view of the launch
separation on-orbit, a buyer-controlled camera on the spacecraft
looking back down on earth and into space 24 hours a day, or the buyer
can supply a SpaceDev-approved payload. The microsatellite camera can
be operated over the Internet by the winning bidder, similar to
SpaceDev’s CHIPSat microsat, which is the world’s first orbiting node
on the Internet. Specific terms are included in the eBay auction
listing. Search eBay for “SpaceDev.”

About SpaceDev

SpaceDev is a publicly traded company that creates and sells
affordable and innovative space products and services to government
and commercial enterprises. SpaceDev’s offering includes the design,
manufacture, marketing and operation of sophisticated micro- and nano-
satellites, hybrid rocket-based orbital Maneuvering and orbital
Transfer Vehicles (MTVs), as well as safe sub-orbital and orbital
hybrid rocket-based propulsion systems. For more information, visit
www.spacedev.com.

This news release may contain forward-looking statements
concerning the Company’s business and future prospects and other
similar statements that do not concern matters of historical fact.
Forward-looking statements 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 developing business ventures
including, but not limited to, risks associated with new product
development and availability of raw resources and suppliers, risks to
marketed products and availability of financing and other sources of
income, as well as risks discussed in the Company’s periodic reports
filed with the U.S. Securities & Exchange Commission. The Company’s
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. 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.

SpaceRef staff editor.