SpaceDev will host its third quarter 2005 earnings call on Tuesday, November 15, at 12:00 p.m. EST. The Company expects to file its third quarter Form 10-QSB with the Securities and Exchange Commission at market close on Monday, November 14, 2005 and issue a related press release on its financial results on Tuesday, November 15, 2005 when the markets open.

SpaceDev invites all those interested in hearing management’s discussion of the quarter to join the call by dialing (877) 407-9205. International participants may access the call by dialing (201) 689-8054. A replay will be available for one week following the call by dialing (877) 660-6853 for domestic participants or (201) 612-7415 for international participants and entering access code 286 when prompted. Participants may also access a live webcast of the conference call through the investor relations section of SpaceDev’s website, www.spacedev.com.

About SpaceDev

SpaceDev (OTCBB: SPDV – News) creates and sells affordable and innovative space products and solutions to government and commercial enterprises. SpaceDev’s innovations include the design, manufacture, marketing and operation of sophisticated micro- and nano-satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. For more information, visit www.spacedev.com.

This news release may contain forward-looking statements. Forward-looking statements are based on the Company’s current expectations. Actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company’s annual report on Form 10-KSB, including the consolidated financial statements filed therewith.

Contact:

The Investor Relations Group

John Nesbett or Erika Moran, 212-825-3210