Space Media, inc. names Bill Zaccheo as president


In a move to further develop Space Media, Incorporated (SMI) as the preeminent creator and provider of space focused multimedia content and services, industry veteran Bill Zaccheo has been named President and Chief Operating Officer of the company. SMI Chairman and CEO Dr. Shelley A. Harrison, stated the addition of Mr. Zaccheo is the latest in a series of moves designed to continue the growth of the new company. Dr. Harrison is also Chairman and CEO of SPACEHAB, Inc. (NASDAQ: SPAB), which formed SMI earlier this year.

In this newly created position, Zaccheo will oversee SMI's growth and expansion. His primary focus is to seek out programming opportunities, capitalize on SMI's unique access to space, spearhead strategic development within SMI's divisions, and to develop original content for syndication for both broadcast and broadband. In addition, Zaccheo will exploit SMI's resources and proprietary footage in an effort to solidify SMI's role as the definitive source for all space-related programming.

"Bill brings his considerable experience in developing new media outlets and content to SMI at a time of unprecedented opportunity. His leadership as we begin to fully develop our partnerships, content and unique capabilities will change the way people experience the remarkable exploration and development of commerce in space," said Dr. Harrison.

SMI recently announced agreements with RSC Energia (RSCE) of Moscow, Russia for multimedia and marketing rights to the Russian segments of the International Space Station. In addition, SMI and RSCE have formed Enermedia, LLC that will develop and distribute content based on RSCE's archives of the Russian Space Program.

"Space has historically fired the imagination of people around the world. This is a great business opportunity to connect people and space as never before," Zaccheo said. "We believe the potential for commercial media operations based on space exploration and adventure is nearly as limitless as the cosmos itself."

Zaccheo, a long-time cable and Internet executive with over 20 years experience, came to SMI from American Interactive Media, where he served as Executive Vice President. With TVOD Networks, a division of American Interactive Media, he developed entertainment-based networks on the Internet with planned migration to broadband, cable or broadcast television based upon consumer interest and bandwidth availability. An example of which is the multi-award winning ComedyNet.com which launched on the Internet in May 1998 and is scheduled to launch as a cable network in the first quarter of 2001.

Prior to TVOD, Zaccheo served as Senior Vice President of Affiliate Sales and Marketing for E! Entertainment Television increasing the subscriber base from 4 million to over 18 million households. Before E!, Zaccheo served as Director of Affiliate Marketing at ESPN where he was responsible for annual subscriber revenues in excess of $60 million. He was instrumental in the distribution of the cable industry's first NFL programming agreement which helped drive ESPN's delivery to over 99 percent of all cable households. Zaccheo started his entertainment career at HBO in 1980 where he played a critical role in the creation and execution of HBO's regional consumer promotions, including Toys for Tots and a variety of concert simulcasts.

SMI announced earlier this year that it owns all multimedia rights for the first commercial broadcasting studio and multimedia production facility in space, the EnterpriseT. Developed by SPACEHAB and RSC Energia (RSCE) of Russia, the module is to be launched to the International Space Station in 2003. Most recently, SMI revealed the multimedia partnership with RSCE to develop content for both television broadcast and Internet distribution from the Russian segment of the ISS, and the development and distribution of the previously unseen archives of the former Soviet and Russian space program maintained by RSCE.

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.

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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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