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SpaceDev Selected for California Space Authority SpotBeam Award

Posted on: Thursday, 30 November 2006, 18:00 CST

SpaceDev (OTCBB: SPDV) announced today that it has been selected by the California Space Authority (CSA) as a recipient of the 2006 SpotBeam Award for space innovation. The CSA SpotBeam Awards recognize California space companies that make extraordinary contributions to California's leadership in United States and international space arenas. SpaceDev is being recognized as a leader in the development of innovative space products and specifically for its award of a patent for hybrid propulsion technology. The award will be presented tonight.

"SpaceDev is honored to be acknowledged by CSA for our work on hybrid propulsion," said Mark Sirangelo, Chairman of the Board and Chief Executive Officer of SpaceDev. "Hybrid propulsion is a low cost, non-explosive alternative to traditional propulsion systems that has the potential to transform how we get to space. SpaceDev continues to forward this innovative technology, utilized by SpaceShipOne and designed into the SpaceDev DreamChaser(TM) to safely power spacecraft."

The Transforming Space Conference is an annual 2 1/2 day event where space professionals from throughout the nation converge to celebrate, learn and network. The California space enterprise community leads the global space enterprise market and supports enrichment and enhancement of the U.S. economy, quality of life, technology leadership and national security. This event marks the third CSA SpotBeam Awards presentation.

About SpaceDev

SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space products and mission solutions. For more information, visit www.spacedev.com and www.starsys.com.

Forward-Looking Statements

Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "believe,""intends,""expects,""plans,""anticipates" and variations thereof, identify forward-looking statements, although their absence does not mean that a statement is not forward looking. Forward-looking statements are based on the Company's current expectations, and are not guarantees of performance. The Company's actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks and uncertainties associated with: the Company's ability to effectively integrate acquisitions; rescheduling or cancellation of customer orders; uncertainties in the government budgeting process; ability to control costs and expenses; and, the possible need for additional financing. Reference is also made to other factors described in the Company's periodic reports filed with the SEC, including the Company's most current Annual Report on Form 10-KSB and subsequent Quarterly Reports on Form 10-QSB. These forward-looking statements speak only as of the date of this release. SpaceDev does not intend to update these forward-looking statements.

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 SpaceDev Investor Relations Investor Contact: Richard Slansky/Jessica Gerstenkorn Media Contact: Mark Sirangelo (858) 375-2026  

SOURCE: SpaceDev, Inc.

Source: MARKET WIRE

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