SpaceDev, Inc., the world’s first publicly traded commercial space
exploration and development company, announced that effective June 26,
2000 SpaceDev has been added to the securities traded on the Nasdaq
OTCBB quotation system.

Commenting on this announcement, Jim Benson, chairman and CEO of
SpaceDev, said, “We are pleased that our Market Makers and the NASD
worked together to accomplish this important goal. Our next goal in
this area will be to work toward meeting eligibility requirements for
joining a national trading market.”

On May 9, 2000, as a result of the filing and effectiveness of its
Form 10-SB registration statement, SpaceDev, Inc. became a fully
reporting company under the Securities Exchange Act of 1934.

On May 11, SpaceDev announced improved first quarter financial
results which are summarized on the SpaceDev web site under
“Financials” and Press Information“ (

Recent Developments

SpaceDev and The Boeing Company announced this year they
have teamed together to investigate opportunities for a variety of
small, low-cost, deep-space mission initiatives formulated by
SpaceDev. Technical and corporate staff from each company are refining
and advancing SpaceDev’s concepts of commercial missions to the Moon,
Mars and near-Earth asteroids, involving micro-spacecraft. The effort
also includes a global assessment of the market potential for such
missions, and a technical and programmatic assessment of
launch-vehicle options for such missions.

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. 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
designing 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 public commercial space exploration and development company.
SpaceDev’s corporate offices are located near San Diego in Poway.

Forward-looking Statements

This news release 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.