SpaceDev News

Greetings,

SpaceDev is the world’s first publicly traded (OTC: SPDV) commercial
space exploration and development company. We try to keep you up-to-
date on what SpaceDev is doing to make space happen on the
commercial space frontier. We send out this brief “newsletter” once or
twice per month, and try to keep it brief and informative.

Here is short list of recent news from SpaceDev, followed by brief
summaries.

1) First Quarter financial results greatly improved over last year

2) SpaceDev accepted by the SEC as a “reporting company”

3) SpaceDev selected by California agencies to receive two grants

4) National Geographic / Newsweek / Boeing special: “Destination
Space”

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1) During the three months ended March 31, 2000, the company had
net sales of $1.1 million as compared to net sales of $1.1 million for the
same three months in 1999. During the three months ended March 31,
2000, the company had a net operating profit of $16,000 compared to a
net operating loss of $793,000 for the same period in 1999. For the
same periods, the company had a net loss after interest and other
income of $65,000 in 2000, compared to a net loss after interest and
other income of $786,000 for 1999. For the full news release, please use
the link below:

http://quote.bloomberg.com/fgcgi.cgi?s=AORqXYRN.U3BhY2VE&T=marketsquote99_news.ht

2) POWAY, Calif.–(BUSINESS WIRE)–May 9, 2000– SpaceDev, Inc.
(OTC: SPDV), 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 (SEC). 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. Full news release:

http://quote.bloomberg.com/fgcgi.cgi?s=AORfzPA7mU3BhY2VE&T=marketsquote99_news.ht

3) SpaceDev has been awarded $305,000 to build out its mission
control center (MCC), to finish its 1,800 square foot clean room, and to
begin test firings on small hybrid rocket motors. More details can be
found at:

http://quote.bloomberg.com/fgcgi.cgi?s=AOOxypRV4U3BhY2VE&T=marketsquote99_news.ht

http://www.pcquote.com/cgi-bin/getnews.exe?NEWSSTORY=CX20000511b6k8&TICKER=SPDV

4) “Destination: Space” is a two-hour special produced by National
Geographic Explorer in conjunction with Newsweek Productions and
sponsored by the Boeing Company. World Premier screening will be at
a reception in Washington, DC on June 15, to be followed by the
telecast on CNBC on June 18. SpaceDev is featured in two brief
segments having to do with future possibilities and technologies related
to natural resource utilization in space, specifically Near Earth Objects
(NEOs). There are two great animations you may not want to miss.
Please check your local listings – this promises to be an excellent and
informative show.