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Space Media Inc. and RSC Energia Join Forces Forming New Multimedia Partnership

Press Release From: Spacehab
Posted: Thursday, August 3, 2000

RSC Energia/Space Media LLC Unify Efforts to Develop and Provide Multimedia Content From The ISS and Russian Space Program Archives

In a step toward furthering their aggressive strategy to broaden their stake in the space media industry, Space Media Inc.(TM) (SMI) has joined forces with RSC Energia forming a multimedia partnership, Enermedia LLC, it was announced today by Dr. Shelley Harrison, Chief Executive Officer, SMI.

Space Media Inc. will develop and provide multimedia content both for television broadcast and Internet distribution from the Russian Service Module of the International Space Station (ISS) and Russian Space Program archives. RSC Energia is the prime contractor for the ISS Russian segments. Space Media Inc. is a subsidiary of SPACEHAB Inc. , which is building the Enterprise(TM) in partnership with RSC Energia.

``This marks the beginning of a new era of doing business cooperatively in space. Our partners at RSC Energia have an outstanding history of quality and achievement in space. We congratulate them on the successful mission of the Service Module to the ISS and anticipate a long, productive, profitable and rewarding relationship,'' said Dr. Harrison.

``Our partnership with Space Media Inc. will allow us to share the wonder, excitement, education and adventure of spaceflight that has previously been available only to cosmonauts and astronauts. Earlier this year, we celebrated the new millennium. Today, we celebrate the new age of space travel in which international multimedia cooperation will allow anyone to experience spaceflight,'' stated RSC Energia Chairman Yury P. Semenov.

``Working with RSC Energia, we will look forward to the opportunity to use media to better share the adventure of spaceflight with anyone who has access to a computer or television. This remarkable new era will help open the universe and all its potential to millions of people,'' said John Getter, SMI, Senior Vice President of Creative Services.

Although a young business, SMI earned recognition from the educational community with its highly successful S*T*A*R*S*(TM) (Space Technology and Research Students) program. Recently honored by the Smithsonian's National Air and Space Museum in Washington, D.C., S*T*A*R*S is a commercial education initiative designed to engage students in science and technology while enabling them to share in the excitement of space research and exploration by designing and flying their own experiments in space. More than 500,000 children in 8 countries around the world are active participants in the S*T*A*R*S.

SMI recently announced the purchase of www.thespacestore.com. This move is the latest in a series of actions by SMI to connect people and space. The site offers visitors genuine quality products related to space exploration and learning for purchase on the Web. www.thespacestore.com now carries more than 400 different space items including NASA flight suits for adults and kids, space food, official astronaut mission patches, space toys and more. Web surfers can also research the latest space shuttle mission, find educational links for kids or download an actual astronaut application on the site.

RSC Energia is one of the most respected and experienced aerospace manufacturers in the world. RSCE has designed and built spacecraft ranging from the Sputnik to MIR. Working with SMI parent SPACEHAB, the firm is designing and building the Enterprise(TM), the first commercial facility in Earth orbit. It will be launched and attached to the International Space Station in 2003.

SPACEHAB is the world's leading provider of commercial services for manned and unmanned missions in space. SPACEHAB is the first company to commercially develop, own and operate habitable modules that provide laboratory facilities and logistics aboard NASA's Space Shuttles. The company also supports NASA astronaut training at Johnson Space Center in Houston.

This release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such statements. Such risks and uncertainties include, but are not limited to, whether the company will fully realize the economic benefits under its NASA and other customer contracts, the timing and mix of Space Shuttle missions, the successful development and commercialization of new space assets, technological difficulties, product demand, timing of new contracts, launches and business, market acceptance risks, the effect of economic conditions, uncertainty in government funding, the impact of competition, and other risks detailed in the company's Securities and Exchange Commission filings.

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