SpaceDev Newsletter (fwd)

Kragen Sitaker (
Mon, 25 Jan 1999 12:56:46 -0500 (EST)

---------- Forwarded message ----------
Date: Mon, 25 Jan 1999 12:27:03 -0500 (EST)
Subject: SpaceDev Newsletter


SpaceDev To Provide Guidance For Low Cost Mars Missions

SAN DIEGO, CA January 25 -- SpaceDev (OTC BB: SPDV), the world's first
commercial space exploration and development company, announced its ISS
(Integrated Space Systems) subsidiary has been awarded a contract from NASA's
JPL (Jet Propulsion Laboratory) to study the feasibility of and concepts for
low-cost microspacecraft which could provide scientific, probe-carrying,
telecommunications and navigation services for future NASA Mars missions.

SpaceDev was one of nine companies in competition for the JPL study. The most
significant aspect of the contract is that JPL and SpaceDev will explore
NASA's possible development of a Mars microspacecraft bus which could be used
for many future missions. The microspacecraft bus will have the common
capability to perform as a science orbiter, a telecommunications orbiter, and
a probe carrier with minimal, or no modular modifications, to support the Mars
MicroMissions and Mars Telecommunications and Navigation Infrastructure Pre-

"We view this contract as recognition that SpaceDev has the right stuff --
broad capabilities in the small, low-cost spacecraft and mission design
arena," said Jim Benson, founder and Chief Executive Officer of SpaceDev.
"This two-month project is a perfect match for the skills and experiences of
our ISS and SIL (Space Innovations Limited) subsidiaries which design and
manufacture microsatellites and their subsystems."

Using NASA's public/private partnership model, ISS has formed a small business
alliance team that includes: Utah State's Space Dynamics Laboratory, (Logan
UT), Alliance SpaceSystems Inc., (Pasadena, CA), Advanced Computational
Intelligent Systems (San Diego, CA) and Fortune Eight Aerospace Industries,
(Boulder, CO). SpaceDev firmly supports NASA's better, faster, cheaper
philosophy of doing business. This project is another example of how SpaceDev
is able to achieve that quest by combining high caliber science and
engineering expertise within budgetary considerations.

San Diego-based Integrated Space Systems, acquired in 1998 by SpaceDev, is an
aerospace engineering company specializing in launch vehicle and spacecraft
design and analysis. "For the past six months we have been analyzing possible
SpaceDev commercial Mars micromissions, so this exciting opportunity came
along at the right time," said Phil Smith, founder and Chief Executive Officer
of ISS.

Being an integral part of these early design and concept studies, SpaceDev
plans to participate in evolving space science and exploration programs for
the next century. This is a corporate goal whose initiation began with NEAP
(Near Earth Asteroid Prospector). NEAP is SpaceDev's proposed commercial deep
space mission to be financed with contracted payloads and scientific data
gathering instruments.

SpaceDev's capabilities include design as well as construction of small
satellites, ground stations, spacecraft subsystems, and launch vehicles; plus
aerospace design and analysis services. Headquartered in San Diego, SpaceDev
is a Colorado chartered corporation with additional sales offices in
Washington, DC.

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.

Note: News releases and other information on SpaceDev can be accessed at: ISS: SIL:

Contacts: Tom Brown, SpaceDev CFO: 619-684-3570
Ron Ventre, SpaceDev Investor Relations: 760-943-9065

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