Press Release

SpaceDev Spacecraft (CHIPS) Performing Well in Orbit

By SpaceRef Editor
January 15, 2003
Filed under , ,

SpaceDev today announced that the Cosmic Hot Interstellar
Plasma Spectrometer (CHIPS) microsatellite is performing well in orbit.

The satellite was launched at 4:45 p.m. PST on January 12 from Vandenberg
Air Force Base. The first contact with the satellite was made on its first
pass over the University of California at Berkeley (UCB) ground station at
6:20 p.m. PST, approximately 95 minutes after its launch. At the time of this
release, the newly developed SpaceDev avionics, software, and power systems
all appear to be operating nominally.

The flight computer and software have correctly handled commands and
performed File Transfer Protocols (FTP) containing satellite status and health
data using our TCP/IP communications and secure link over the Internet.
“Successful FTP transfers have been performed,” said Simon Dawson, mission
operations manager for SpaceDev. “And all operational uplink and downlink
data rates have been tested and verified.”

The satellite is being operated from the Mission Control Center (MCC)
located at SpaceDev’s corporate headquarters in Poway, CA along with its
network of ground stations at UCB, NASA Goddard Space Flight Center’s Wallops
Flight Facility in Virginia, and Adelaide, Australia.

“We’ve maintained a power positive condition at all times and had very
successful communications over the Internet,” said Jeff Janicik, flight
systems director for SpaceDev. “The operation team’s next challenge is to
begin operating the attitude control system and achieve 3-axis stabilization
of the spacecraft. Shortly thereafter, the SpaceDev/UCB team will be prepared
to begin instrument operations.”

“I’m very pleased with the initial success of this mission and I want to
thank the entire CHIPSat team for all of the hard work that they’ve put in on
this microsatellite project that could help revolutionize the space industry,
Dr. Mark Hurwitz at UCB for competitively selecting SpaceDev, and NASA for
helping us find a launch for CHIPSat and for approving what may be the first
in a series of revolutionary microsatellites,” said Jim Benson, chairman and
chief executive officer of SpaceDev.

SpaceDev had overall responsibility for the design, assembly, integration
and testing of the CHIPSat microsatellite as well as designing the entire
ground segment and establishing a Mission Control Center at SpaceDev to test
and operate the satellite.

About SpaceDev

SpaceDev (OTC Bulletin Board: SPDV) creates and sells affordable and
innovative space products and solutions to government and commercial
enterprises. SpaceDev products and solutions include 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.
SpaceDev has been awarded contracts from NASA, National Reconnaissance
Organization (NRO), Boeing, Jet Propulsion Laboratory (JPL), California Space
Authority (CSA) Air Force Research Lab (AFRL) and several commercial
customers. SpaceDev is also developing commercial hybrid rocket motors and
small high performance space vehicles and subsystems. 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 new business ventures
including, but not limited to, the level of sales to key customers; the
economic conditions affecting our industry; actions by competitors;
fluctuations in the price of raw materials; the availability of outside
contractors at prices favorable to the company; our dependence on
single-source or a limited number of suppliers; our ability to protect our
proprietary technology; market conditions influencing prices or pricing; an
adverse outcome in litigation, claims and other actions, and potential
litigation, claims and other actions by or against us; technological changes
and introductions of new competing products; the current recession; terrorist
attacks or acts of war, particularly given the acts of terrorism against the
United States on September 11, 2001 and subsequent military responses by the
United States; ability to retain key personnel; changes in market demand;
exchange rates; productivity; weather; and market and economic conditions in
the areas of the world in which we operate and market are products. 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.