SpaceDev, Inc., the world’s first commercial space exploration and
development company, is pleased to announce that its Form 10-SB
registration statement has cleared comments with the U.S. Securities &
Exchange Commission.

As a result of the filing and effectiveness of the registration
statement, SpaceDev, Inc. is now a fully reporting company under the
Securities Exchange Act of 1934.

Commenting on this announcement, Jim Benson, Chairman and CEO of
SpaceDev said, “We are very happy to have worked with the SEC to
accomplish this important goal in the growth and maturing of

SpaceDev is working with its market makers to qualify SpaceDev’s
common stock trades for listing on the Nasdaq Over-the-Counter market
(OTCBB) under the trading symbol of SPDV. SpaceDev stock is currently
trading on the National Quotation Bureau (NQB) Electronic Quotation
System (EQS).

About SpaceDev

SpaceDev offers low-cost commercial missions and spacecraft for
lunar orbiters, Mars orbiters and probe carriers, and asteroid
rendezvous and landers for sale as turnkey, fixed price, commercial
products, a first for the space industry. Also a first, SpaceDev
offers fixed-price package delivery for science instruments and
technology demonstrations into earth orbit, deep space and to other
planetary bodies.

SpaceDev designs and sells small, low-cost Earth-orbiting
commercial or research satellites. SpaceDev has recently designed
inexpensive orbital transfer vehicles, and secondary payload
micro-kick motors for the Air Force. SpaceDev has acquired hybrid
sounding rocket, motor, and launch vehicle designs, and intellectual
property rights produced by the former American Rocket Company

Established in 1997, SpaceDev ( is the world’s
first commercial space exploration and development company. SpaceDev’s
corporate offices are located near San Diego in Poway, CA.

Forward-looking Statements

This news releases may contain forward-looking statements
concerning the business and future prospects of the company and its
subsidiary 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 reason.