SPACEHAB Announces Corporate Name Change to Astrotech


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SPACEHAB, Incorporated (NASDAQ: SPAB), a leading provider of commercial space services, announced today that it is changing its corporate name to Astrotech Corporation. The shareholders of the Company's common stock authorized the corporate name change at the annual meeting held on Feb. 10, 2009. SPACEHAB has filed for and received approval for the name change with the state of Washington.

"Astrotech Corporation is a name that more accurately reflects the Company's current mission and vision for future growth," said Thomas B. Pickens III, SPACEHAB's chairman and chief executive officer. "By aligning our corporate name with our core business offering, we are communicating to the investment community and customers the Company's new focus."

As a result of the shareholder authorization, the Company notified the NASDAQ Stock Market of the name change. Until a new trading symbol is obtained, shares of common stock will continue to trade under the symbol 'SPAB.'

About Astrotech Corp.

Astrotech is a commercial and entrepreneurial force in the space industry providing a full spectrum of products and services to both the government and private sectors. The Company offers spacecraft pre-launch processing facilities and services, production of valuable commercial products in space, development and extension of space-based products to the consumer market, space access and payload integration services program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.

The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.

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