San Bruno, Calif.

Rotary Rocket Company announced today that Helena Hardman,
the company’s current CFO, has replaced Gary Hudson as Chief
Executive Officer. Ms. Hardman will take on the additional role of
Acting-CEO for the interim period. “Gary’s choice to leave the
company was very personal”, Hardman said. “For Gary, it has
been a very frustrating place to be, asked to sit in front of the banks
and explain the story again and again. It‚s like hitting your head
against a brick wall.” Hudson will continue to work with the
company as a consultant.

Rotary Rocket Company will continue to operate as usual, with its
ultimate goal remaining the same–safe and low cost, human access
to space. “The company has learned a lot of things over the past
three years, we are going to take smaller steps to reach our goal,”
Hardman said. The company is close to completing its new
business plan and will be adding new members to its current
management team in the following months.

Helena Hardman joined Rotary Rocket Company in March 1999 as
Chief Financial Officer. She has over ten years experience in
financial and strategic consulting to the telecom and infrastructure
industries. She was an associate in the Telecom Mergers &
Acquisitions Group at JP Morgan, based in New York. Prior to that,
she was a Principal Associate in the Telecom Strategy and
Economics Consulting Group with PricewaterhouseCoopers.
Ms. Hardman holds a First Class Honors Degree in Aeronautical
Engineering from Imperial College in London and is also a member
of the Institute of Chartered Accountants in England and Wales.

Rotary Rocket Company has offices in San Bruno and Mojave,
California and also has regulatory representation in Washington D.C.

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Richard Stockmans, Director of Business Development

Rotary Rocket Company