SpaceDev Signs Space Act Agreement with NASA

SpaceDev, Inc. (OTC BB:SPDV.OB) has signed a Space Act Agreement with NASA to facilitate its development of reliable, safe and affordable transportation of passengers and cargo to and from Earth orbit. Under the Agreement, NASA will provide information about the agency's projected commercial demand for crew and cargo services to the International Space Station (ISS) as well as technical support regarding commercial vehicle requirements for rendezvous and docking with the ISS. NASA will also provide inputs to the development program through regularly scheduled technical exchange.

"We appreciate the leadership and foresight of Michael Griffin, Scott Horowitz, Alan Lindenmoyer and the entire NASA COTS office in their commitment to us and the emerging space industry," said Mark Sirangelo, SpaceDev's Chairman and Chief Executive Officer. "This Agreement will allow us to work closely with NASA to share data, concepts and updates on our program's progress. Having a continuous interchange with NASA will help accelerate our ability to make strides to meet our country and industry's near and long term needs for space transport. We are committed to the use of the NASA Langley derived HL-20 as the foundation of our space transport program."

This Agreement builds on SpaceDev's continuing and developing relationship with NASA as a result of the COTS (Commercial Orbital Transportation Services) proposal effort, where SpaceDev was one of three finalists in the competition. The SpaceDev vehicle has on-board propulsion utilizing SpaceDev's patented hybrid solid rocket motor technology. SpaceDev's unique space transportation system is designed to effectively, reliably and safely carry crew/passengers and cargo in suborbital as well as orbital flight regimes. It is a piloted space solution which launches vertically and lands horizontally on conventional runways.

About SpaceDev

SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space products and mission solutions. For more information please visit www.spacedev.com. Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, although their absence does not mean that a statement is not forward looking. Forward-looking statements are based on the Company's current expectations, and are not guarantees of performance. The Company's actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks associated with: rescheduling or cancelling orders; uncertainties in government budgeting; ability to control expenses; and, the need for additional financing. Reference is also made to other factors described in the Company's periodic reports filed with the SEC, including the Company's most current Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. These forward-looking statements speak only as of the date of this release. SpaceDev does not intend to update these forward-looking statements.