Former Senior Executive at Lockheed Martin and General Dynamics to Lead Rapid
Expansion of Critical Subsidiary

Poway, Calif., November 9, 1999 — SpaceDev, Inc. (NASDAQ: SPDV), the world’s first
commercial space exploration and development company, today announced the
appointment of Charles H. Lloyd as the Chief Executive Officer of its Integrated Space
Systems (“ISS”) subsidiary.

Mr. Lloyd was formerly the President of International Launch Services (“ILS”), a joint
venture of Lockheed Martin Corporation (NYSE: LMT), Khrunichev State Research and
Production Center and RSC Energia, both in Russia.

During his 5-year tenure at ILS, he was responsible for the development, expansion, and
ongoing operation of the joint venture. Lloyd aggressively marketed launch services on
Atlas and Proton rockets to the global space community, overcoming cultural barriers and
effectively structuring the organization to support multiple product and management
requirements. He is credited with developing strategic international relationships between
the United States and Russia and with setting the industry standard for strict
technology-transfer controls. In four years Lloyd and his team at ILS generated over a
billion dollars in new contracts and developed competitive markets in Asia, Europe, and
North America, all of which have provided increased revenues to the joint venture.

The recently appointed Chief Executive Officer of SpaceDev’s ISS subsidiary, Charles H.
Lloyd, stated, “SpaceDev has outstanding capabilities and potential and I am very excited
about joining this dynamic team. The technology, our target markets and the innovative
expertise we supply in the industry will provide for a very exciting future for small,
inexpensive space systems. I look forward to contributing to the leadership necessary for
each of our core businesses to ensure mission success and build shareholder value.”

Commenting on the new appointment, Jim Benson, SpaceDev Chairman and CEO stated,
“Charlie is a valuable asset to the SpaceDev team, and his appointment is in keeping with
our desire to hire only the best for each key position. His strong background in senior
executive management, his track record of leading space-product organizations to higher
levels of performance, highlighted by his significant contributions to the Lockheed Martin
ILS venture, adds a critical scope to our company and our implementation strategy

Mr. Lloyd’s primary responsibilities at ISS will include directing the expansion of current
operations as well as leading the development of several potential new product lines
focused on the commercialization of small-satellite space missions. Lloyd will oversee the
strategic, operational and technical developments at ISS, with a particular emphasis on
new products.

Mr. Lloyd has close to 20 years of senior management experience in high-technology
international services and manufacturing environments, primarily in positions focused on
operations management, marketing, finance and administration. Prior to his Lockheed/ILS
position, he held several senior management positions at General Dynamics (NYSE: GD):
Vice President and Managing Director, responsible for the management and operations of
General Dynamics Commercial Launch Services; Vice President of Finance and Controller of
General Dynamics Space Systems; and Vice President of Finance and Administration of GD
Services Company. Mr. Lloyd began his career in 1975 as a Senior Financial Planning
Analyst at Ford Motor Company.

Mr. Lloyd holds a MBA from the University of Michigan and earned his BA in Finance from
Virginia Polytechnic Institute and State University.

About SpaceDev

Established in 1997, SpaceDev ( is the world’s first commercial space
exploration and development company. SpaceDev’s corporate offices, its wholly owned
subsidiary Integrated Space Systems (ISS, and the firm’s Space
Missions Division are located in Poway, Calif. The company’s other wholly owned
subsidiary, Space Innovations Limited (SIL,, is in Newbury, England.

SpaceDev is offering commercial lunar, Mars and asteroid missions for sale as turnkey
commercial products, a first for the industry. It also designs and sells small, low-cost
Earth-orbiting satellites and supplies spacecraft and ground-station subsystems and
components worldwide. The company is in the process of expanding its facilities to support
spacecraft integration, testing and mission operations.