SpaceDev Inc.
, the world’s first publicly-traded commercial space
exploration and development company, today announced it has acquired, Inc. of Wheeling, Ill.

“This acquisition is important for SpaceDev because it provides a
new and expanded corporate infrastructure we can grow into as we
continue to build a unique and innovative commercial space exploration
and development company, piece-by-piece. The name ‘ExploreSpace’
perfectly describes a key SpaceDev goal,” said SpaceDev CEO Jim
Benson. “Acquiring ExploreSpace gives us an existing and inexpensive
framework for quickly and efficiently adding possible commercial space
media and space entertainment activities SpaceDev is researching
independently and with its partners.”

Included in the agreement are the Internet domain names, ExploreSpace.TV, and Privately held ExploreSpace was founded in 1998
by space enthusiast Bill McCoy, whose experience ranges from business
intelligence architecture to consulting and marketing strategies for
popular space and educational related websites. The
site provides astronomy and space resources to the professional,
amateur, educator, and student, and includes online space-news,
e-commerce of related merchandise, one of the web’s largest
compilation of astronomy-space links, and more.

Mr. McCoy will be responsible for expanding the site and
integrating it with current and future SpaceDev activities. Added Bill
McCoy, “I welcome this acquisition with great pride and enthusiasm.
Together with SpaceDev I believe we can build ExploreSpace into a
global community where people of all ages journey to expand their
minds and explore space.”

SpaceDev intends to expand the ExploreSpace online store offerings
to include a broader range of space related merchandise, and plans to
sell SpaceDev merchandise both online and at its SpaceDev headquarters
store in Poway, California. SpaceDev is creating new and collecting
existing space multimedia content to be added to its new site.

About SpaceDev

SpaceDev offers low-cost commercial missions and spacecraft for
earth and lunar orbiters, Mars orbiters & probe carriers, and asteroid
rendezvous & landers. SpaceDev’s sale of turnkey, fixed-price,
commercial space products is a leading edge innovation for the space
industry. SpaceDev offers fixed-price package delivery for science
instruments and technology demonstrations into earth orbit and deep
space and to other planetary bodies. SpaceDev and the Boeing Company,
have teamed together to investigate opportunities of mutual strategic
interest in the commercial deep-space arena, including a variety of
small, low-cost, private deep-space mission initiatives formulated by
SpaceDev. SpaceDev’s propulsion and launch division designs and tests
clean, safe hybrid rocket motors for a wide variety of space
applications and space vehicle products being designed or developed by
the company.

Forward-Looking Statements

The foregoing press release includes forward-looking statements
concerning the company’s business and future prospects and other
similar statements that do not concern matters of historical fact.
Forward-looking statements in this press release relating to product
development, business prospects and development of a commercial market
for technological advances are based on the company’s current
expectations. The company’s current expectations are subject to all of
the uncertainties and risks customarily associated with new business
ventures including, but not limited to, market conditions, successful
product development and acceptance, competition and overall economic
conditions, as well as the risk of adverse regulatory actions. The
company’s actual results may differ materially from current
expectations. Readers are cautioned not to put undue reliance on
forward-looking statements. The company disclaims any intent or
obligation to update publicly these forward-looking statements,
whether as a result of new information, future events or for any other

Contact: SpaceDev Inc., Poway
Jim Benson, 858/375-2020