SpaceDev CEO Joins California Space Authority Board Of Directors


Jim Benson, founding Chairman and Chief Executive Officer of SpaceDev , has been appointed to the California Space Authority (CSA) Board of Directors, effective immediately. Benson's two-year term of office will run until December 2007.

The California Space Authority (CSA) is a nonprofit corporation representing the commercial, civil, and national defense/homeland security interests of California's diverse space enterprise community in four domains: industry, government, academia, and the workforce.

As founder of an innovative space solutions company, Benson has been advocating the importance of a stronger commercial presence in space for years. "I am honored to be appointed to the Board of Directors of the California Space Authority, an organization whose expertise lies in both its distinguished members and experienced board. I applaud the work of the CSA and look forward to serving both the interested and invested public and the commercial space industry of the state of California," said Benson.

CSA is a member-based "enterprise" association working closely with stakeholders statewide to facilitate California's competitiveness and space enterprise vitality. The CSA is also designated by the State of California as the "California Spaceport Authority," and in this capacity facilitates the development of California-based spaceports.

Upon founding SpaceDev in 1997, Jim Benson started the trend of successful computer entrepreneurs moving into the space development arena. With the long-term vision of building private sector exploration and profitable economic development of space, he has brought to this challenge the fast-moving entrepreneurial development style, which characterized the microcomputer revolution.

About SpaceDev

SpaceDev creates and sells affordable and innovative space products and solutions to government and commercial enterprises. SpaceDev's innovations include the design, manufacture, marketing and operation of sophisticated micro- and nano-satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. For more information, visit www.spacedev.com.

This news release may contain 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 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 developing business ventures outlined in the Company's periodic reports filed with the U.S. Securities & Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company's annual report on Form 10-KSB, including the consolidated financial statements filed therewith. 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.

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