Ceilidh

Michael Zey
futurist3000@aol.com

  "We are excited about advancing this unique, pioneering project," said Jim Benson, founding chairman and chief executive of SpaceDev. "This is great timing because NASA has started implementing the recommendations of President Bush's Aldridge Commission for building a robust space industry. SpaceDev has a long-term vision of building its own private sector space program. Conducting an innovative lunar lander mission would be as revolutionary as SpaceDev's role in the success of SpaceShipOne. This Lunar Dish Observatory mission will demonstrate that such missions can be performed quickly and inexpensively - expected to be less than $50 million -- by the private sector. This mission should be attractive to the "new NASA," as directed by the Aldridge Commission, in terms of innovation, practicality, fast turnaround, and low cost for humanity's continuing exploration of the moon."

  The main emphasis of this second phase of work will be on the precise and safe landing of the robotic science station. SpaceDev will evaluate existing and newly available data and technology for landing site selection and landing hazard avoidance. The lunar mission to advance human understanding of stars and galaxies will be designed with the same approach as SpaceDev's highly successful CHIPSat science microsatellite for the University of California at Berkeley/NASA University Explorer program. SpaceDev's approach is to make systems as small, low-cost and as practical as possible while minimizing risks, in order to successfully demonstrate the performance of science on the surface of the Moon.

  "Lunar Enterprise is funding this study to be a catalyst to individuals, companies and countries to join together in a rapid return to the Moon," said Steve Durst, founder and director of Lunar Enterprise Corporation. "Organizations around the world are currently conducting and planning various lunar missions. Corporate and national leaders, and the world's leading lunar scientists will be discussing these projects at the International Lunar Conference 2004 in India in November 2004. We hope this seedling project will help bring these parties together to discuss cooperation and identification of resources for concerted lunar activities."  

  About SpaceDev  

  SpaceDev (OTCBB:SPDV) creates and sells affordable and innovative space products and solutions to government and commercial enterprises. SpaceDev products and solutions include the design, manufacture, marketing and operation of sophisticated micro- and nano- satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles (MoTVs) as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. For more information, visit www.spacedev.com.  

  About Lunar Enterprise Corporation  

  Lunar Enterprise Corporation is a wholly owned subsidiary of Space Age Publishing Company of Hawai'i Island, Hawaii, and Palo Alto, California. LEC and Space Age support a wide variety of enterprises and activities consistent with near-term, human, permanent operations on the Moon, and with the founding of Space Age Publishing Company's next office. For more information, visit www.spaceagepub.com.  

  This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. 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 not limited 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 Company'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 Company'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.

CONTACT:The Investor Relations Group Investors: Kathryn McNeil/John Nesbett  Media: Michael Graff/Stephanie Schroeder 212-825-3210

SOURCE: SpaceDev

07/20/2004 08:50 EASTERN