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Spacehab Wins $10,000 Prize for Role in Space Commerce - Company Puts Money into Scholarship Fund

Press Release From: Spacehab
Posted: Wednesday, June 27, 2001

SPACEHAB, Inc. a leading provider of commercial space services, has won the Space Transportation Association's first Bigelow Prize, an award intended to recognize the company outside the satellite industry that has contributed the most toward the promotion or use of Space for private enterprise purposes without government ownership.

The Prize was created, and the winner selected, by the Space Transportation Association's Space Travel and Tourism Division in conjunction with Robert T. Bigelow, CEO of Bigelow Aerospace and President and CEO of the Bigelow Companies in Las Vegas, Nevada. Mr. Bigelow is the donor of the $10,000 cash award that accompanies the Prize.

SPACEHAB Chairman and Chief Executive Officer Dr. Shelley A. Harrison accepted the award June 25 at the Space Transportation Association's annual space tourism conference in Washington, D.C. Dr. Harrison announced upon acceptance that SPACEHAB is contributing the money to a scholarship fund for the STARS Academy global education program (www.starsacademy.com), managed by SPACEHAB subsidiary Space Media, Inc. (www.spacemediainc.com). Scholarships will be available for the 2001-2002 school year.

"SPACEHAB's donation initiates our STARS Academy scholarship fund, which will allow other public and private sector donors to provide educational opportunities for young people worldwide," said Jim Royston, Space Media's Vice President-Education and Acting President. "As a first step, the Bigelow Prize will enable more than 800 deserving young people to participate in STARS Academy in the coming school year," Royston added.

The STARS Academy interdisciplinary learning program is designed to engage 8- to 18-year olds worldwide in science, technology, and social studies using the excitement of space exploration. The price of membership in STARS Academy is $12 per year. This online cultural and scientific program links members to a global network of like-minded young explorers as well as scientific advisors and supplemental curriculum materials. The United Nations Office for Outer Space Affairs has endorsed the program and is helping Space Media to expand its outreach to young people in the developing world.

One of the most notable features of STARS Academy is that it provides members access to experiments aboard the International Space Station (ISS) specially designed for students. A STARS Academy ecosystem experiment, launched to the ISS February 26, is currently in progress aboard the Zvezda service module, on the Russian side of the space station. Working with astronauts and cosmonauts, STARS Academy students are observing how the plants and animals living inside the ecosystem, or "biosphere," are adapting to life in microgravity.

Founded in 1984, with more than $100 million in annual revenue, SPACEHAB, Inc. is a leading provider of commercial space services. The company develops, owns, and operates habitat and laboratory modules and cargo carriers aboard NASA's Space Shuttles. It also supports astronaut training and configuration management at NASA's Johnson Space Center in Houston and builds space-flight trainers and mockups. SPACEHAB's Astrotech subsidiary provides commercial satellite processing services for expendable launch vehicle programs, including the Lockheed Martin Atlas, the Boeing Delta and Sea Launch. SPACEHAB's newest strategic growth initiative, Space Media, Inc., brings space into homes and classrooms worldwide with television and Internet broadcasting from the International Space Station.

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.

For more information, contact:

Linda Billings
Director of Communications
SPACEHAB, Inc. Washington Office
Phone 202/488-3500 x. 201
Fax 202/488-8251
billings@hqspacehab.com

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