SpaceDev Completes First Milestone under NASA Space Act Agreement for Development of Commercial Access to Space (Press Release)

SpaceDev Dream ChaserTM Space Plane Development Would Provide Cargo and Crew Transport

POWAY, CA – November 5, 2007 – SpaceDev, Inc. (OTCBB: SPDV) recently completed its first milestone under the Space Act Agreement that it signed with NASA in June 2007. This significant first milestone is to define the outer mold line (OML) of the SpaceDev Dream ChaserTM space vehicle. The SpaceDev team generated a surface model that will be used for future analysis, subscale flight test modeling, and full scale tooling of the Dream ChaserTM flight vehicle. The Dream Chaser™ OML surface model was derived from digitized scans of the original NASA Langley wind-tunnel tested models, which are currently on loan to SpaceDev.

SpaceDev entered into the Space Act Agreement with NASA’s Johnson Space Center to facilitate its development of reliable, safe and affordable transportation of passengers and cargo to and from Earth orbit. As part of the agreement, NASA is providing support regarding commercial vehicle requirements for rendezvous and docking with the ISS as well as ongoing regularly scheduled technical exchange.