WHAT: Space Exploration Technologies Corporation (SpaceX)’s official unveiling ceremony for the new Falcon orbital launch vehicle. SpaceX will bring the entire seven-story high spacecraft and
its mobile launch system to the nation’s Capitol as part of the hundred-year anniversary of manned flight.

WHO: SpaceX founder CEO Elon Musk and others

WHEN: Thursday, December 4, 2003
– Unveiling ceremony at 8:00 EST
– Reception begins at 7:00 EST

WHERE: Unveiling ceremony on Independence Avenue followed by Reception: The Smithsonian Air and Space Museum, on the Mall, Washington, DC

WHAT ELSE: The Falcon rocket is notable for being:

— The first rocket with substantial reusability developed since the Space Shuttle launched over two decades ago. Once the Shuttle retires, it will be the world’s only reusable rocket.

— A major breakthrough in the cost of access to space, with a price per flight to orbit over four times lower than its nearest American competitor.

— Designed from a “clean sheet” for reliable space transportation, compared to most existing launch vehicles, which have a comparatively low-reliability heritage as weapons systems.

First launch is expected to occur in early 2004 from the SpaceX launch complex at Vandenberg Air Force Base in California. The payload is a Department of Defense tactical communications & observation satellite called TacSat-1.

CONTACT: Frank Sietzen 703 685 7090, Email: Frank.Sietzen@spacex.com

About SpaceX

Space Exploration Technologies (SpaceX) is developing a family of launch
vehicles intended to reduce the cost and increase the reliability of access to
space by a factor of ten. Falcon, a two stage, liquid-fueled orbital launch
vehicle, is the company’s first product. The entire vehicle, including main
and upper stage engines, primary structure, avionics and guidance control, is
being developed internally at SpaceX.

Located in El Segundo, California, the company was founded by CEO Elon
Musk in June 2002. SpaceX is the third company founded by Mr. Musk.
Previously he co-founded and was the largest shareholder of PayPal, the
world’s leading electronic payment system, which sold to online auction giant
eBay(TM) for $1.5 billion in 2002. More information about SpaceX can be found
at http://www.SpaceX.com.