Press Release

Spacehab Names Brian Harrington as Chief Financial Officer

By SpaceRef Editor
January 7, 2004
Filed under , ,

Houston, Texas, January 7, 2004 SPACEHAB, Incorporated (NASDAQ/NMS: SPAB), a leading provider of commercial space services, today announced the appointment of Brian K. Harrington as Senior Vice President and Chief Financial Officer (CFO) effective January 5, 2004. Harrington, a 30-year veteran in corporate financial management, will oversee all of SPACEHAB’s financial operations, including corporate finance, accounting, budgeting, regulatory compliance reporting, and investor relations.
“We are extremely pleased to have Brian on board,” said Michael E. Kearney, SPACEHAB President and Chief Executive Officer. “We view his extensive experience and knowledge as integral to the continued growth of our company as we expand our role in space commerce. I have every confidence that SPACEHAB and our shareholders will be well served with Brian as CFO,” Kearney added.
Harrington, who formerly served as Senior Vice President and CFO of New York Stock Exchange listed Kirby Corporation, returns to the CFO role at SPACEHAB after several years in financial consulting and interim financial management positions. During his tenure at Kirby Corporation, Harrington was instrumental in the recasting of the former Kirby Exploration Company into the largest domestic inland marine transporter of bulk liquid commodities. Harrington’s corporate and consulting achievements include acquisitions, bank financings, public and private placement debt, public equity transactions, divestures, and recapitalizations.

Harrington began his career in the U.S Army, First Armored Division, where he served as Deputy Division Finance Officer during the Viet Nam conflict. A Certified Public Accountant, he holds a Masters of Business Administration from the University of Oregon and a Bachelor of Science in Business Administration from the University of Delaware. Harrington and his family are long-time Houston residents where he is involved in many civic and social activities.
Last October, SPACEHAB announced plans to close its Washington, D.C. office and move those operations to its Houston, Texas headquarters as part of an expense reduction effort. The Company’s previous CFO, Julia A. Pulzone, elected to remain in the D.C. area. However, both Pulzone and the Corporate Controller, Carl Slaski, have agreed to stay with SPACEHAB as interim consultants to ensure a smooth transition of the finance functions.

About SPACEHAB, Incorporated

SPACEHAB, Incorporated (www.spacehab.com) is a leading provider of commercial and government space services with three primary business units. The Flight Services business unit develops, owns, and operates habitat and laboratory modules and cargo carriers aboard NASA’s Space Shuttles for Space Station resupply and research purposes. SPACEHAB’s Astrotech subsidiary provides payload processing support services for both commercial and government customers at company-owned facilities in Florida and California. The Company’s Government Services business unit supports NASA’s Johnson Space Center providing configuration management, product engineering, and support services for both the Space Station and Space Shuttle programs. Additionally, through The Space Store, Space Media provides space merchandise to the public and space enthusiasts worldwide (www.thespacestore.com).

The statements in this document may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the statements. In addition to those risks and uncertainties discussed herein, such risks and uncertainties include, but are not limited to, whether the Company will fully realize the economic benefits under its U.S. National Aeronautics and Space Administration (“NASA”) and other customer contracts, whether NASA and other customers will continue to utilize the Company’s habitat modules and related commercial space assets, whether plans to complete the International Space Station (“ISS”) are fulfilled, continued availability and use of the U.S. Space Shuttle system, technological difficulties, product demand and market acceptance risks, the effect of economic conditions, uncertainty in government funding, the impact of competition, delays and uncertainties in future space shuttle and ISS programs, resolution of the Company’s indemnification claim with NASA arising from the loss of the Columbia orbiter and its crew during the STS-107 mission, and other risks described in reports filed by the Company with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements.

FOR MORE INFORMATION:

Kimberly Campbell

Director of Marketing

SPACEHAB, Inc.

713.558.5049

campbell@spacehab.com

SpaceRef staff editor.