SpaceDev Auctioning Microsatellite Mission On eBay

11/11/03 00:00:00    

By Michael Mealling

SpaceDev (OTCBB: SPDV) is auctioning a world exclusive privatespace mission on eBay. This first of its kind eBay auction isbeing listed for the ten-day period of 8:00 PM (PST) Monday,November 10, through 8:00 PM (PST) Thursday, November 20th.The SpaceDev space mission auction is at:

http://echo.bluehornet.com/ct/ct.php?t=355015&c=192605897&m=m&type=3

Most earth orbiting small satellite missions can cost $25million or more, not including the launch. To demonstrate theaffordability of private space missions, SpaceDev has posted a “Buy it Now” price of $9.5 million. The high bidder will win a spacecraft based on SpaceDev’s Maneuvering and orbit TransferVehicle (MTV™).

“I founded SpaceDev to accelerate the development of space, to get the public involved in space and to have fun,” said Jim Benson, SpaceDev founder and CEO. “With our successful launch and operation of CHIPSat earlier this year, and after being competitively selected to provide safe hybrid rocket propulsion for manned space flight, we are offering this unique space mission to the public.”

The high bidder has the right to supply his or her own payload, to name the SpaceDev MTV™ satellite and to name the mission. The winning bidder, which could be an individual, company or government agency, can also be involved in the mission design, satellite assembly and testing (including putting small personalitems on the spacecraft), can attend the launch, and can participate in on-orbit operations.

The nominal payload is a camera that provides a view of the launch separation on-orbit, a buyer-controlled camera on the spacecraft looking back down on earth and into space 24 hours a day, or the buyer can supply a SpaceDev-approved payload. Themicrosatellite camera can be operated over the Internet by the winning bidder, similar to SpaceDev’s CHIPSat microsat, which is the world’s first orbiting node on the Internet. Specific termsare included in the eBay auction listing. Search eBay for“SpaceDev.”

About SpaceDev

SpaceDev is a publicly traded company that creates and sells affordable and innovative space products and services to government and commercial enterprises. SpaceDev's offering includes the design, manufacture, marketing and operation of sophisticated micro- and nano- satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles (MTVs), as well as safe sub-orbital and orbital hybrid rocket-based propulsion systems. For more information, visit www.spacedev.com.

This newsletter may contain forward-looking statementsconcerning the Company's business and future prospects and other similar statements that do not concern matters of historicalfact. Forward-looking statements relating to product development, business prospects and development of a commercial market for technological advances 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 including, but notlimited to, risks associated with new product development and availability of raw resources and suppliers, risks to marketed products and availability of financing and other sources of income, as well as risks discussed in the CompanyÂ’s periodic reports filed with the U.S. Securities & Exchange Commission. The Company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the CompanyÂ’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.