POWAY, CA--(MARKET WIRE)--May 29, 2008 -- SpaceDev, Inc. (OTC BB:SPDV.OB - News) has been informed by the U.S. Department of Defense Operationally Responsive Space Office (ORS) that it has selected SpaceDev's Trailblazer spacecraft bus as the primary payload to fly on its inaugural mission, called Jumpstart. Jumpstart is a multi-pronged effort set to fly a responsive payload on the SpaceX Falcon 1 Flight 003 mission, currently scheduled for a late June 2008 launch from Kwajalein Atoll in the Marshall Islands. The spacecraft was built and assembled on schedule and budget at SpaceDev's Poway, California facility in less than five months. It has been delivered to the ORS Office at Kirtland Air Force Base in New Mexico for final testing and integration.

Source: SpaceDev, Inc.
(click to enlarge) SpaceDev Trailblazer Satellite Bus ·  SpaceDev

"Our extraordinary team has put in many hours of hard work in support of this historic effort. We believe that this launch will help usher in a new era of responsive space and lead the way as a standard in low cost, modular, and flexible small satellites," said Mark N. Sirangelo, Chairman and CEO of SpaceDev. "We would like to express our sincere appreciation to the ORS office and the Department of Defense for the confidence they expressed in us and the terrific teamwork that we experienced with them during an enormously challenging program cycle."

ORS Director Dr. Peter Wegner indicated that the selection of Trailblazer was made after the Jumpstart Pre-shipment Review, conducted on May 20, 2008. This bus serves as a risk reduction for a flexible, modular bus design using off the shelf components and could support a variety of future ORS missions. Jumpstart illustrates the responsive capability combatant commanders are looking for -- spacecraft buildup to launch vehicle integration in just months. This mission demonstrates the first step of responsive launch with an end-to-end call up within seven months of funding availability and within four months following approval to proceed. In addition, Jumpstart demonstrates several key ORS enabling models: rapid call up of a mission to launch; rapid development, integration and checkout of spacecraft; a concept of operations that allows flexibility late in the payload processing flow to determine which mission will fly; efficiencies in processes and procedures to reduce payload integration timelines; and identification and assurance of payload technical readiness.

"Our staff worked tirelessly on this program to meet the government's need," said Harrison Yelton, Vice President of Satellite Systems at SpaceDev. "The successful launch of this satellite will provide proof of the viability of our rapid build technology system and has created a new product line for the Company."

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.

This news release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks that are difficult to predict, 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, but are not limited to, risks associated with the Company's ability to effectively manage program, technical, schedule, cost, or customer changes, or cancellation of orders, or obtain additional financing, if needed. The Company also references other factors described in periodic reports filed with the SEC, including its 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 Contacts:
     Investor:
     Richard Slansky/Jessica Schwarz
     Media:
     Mark Sirangelo
     (858) 375-2026