SOURCE: SpaceDev, Inc.

June 09, 2008 11:30 ET

SpaceDev Hardware Successfully Operates Aboard C/NOFS Mission

Release Devices Deploy Mission Critical Solar Panels and Payload Sensors

POWAY, CA--(Marketwire - June 9, 2008) - SpaceDev, Inc. (OTCBB: SPDV) announced today that the mechanical systems which the Company provided for the Air Force Research Laboratory Communication/Navigation Outage Forecasting System (C/NOFS) satellite have successfully operated on orbit. C/NOFS is a Department of Defense mission that will monitor the space environment and provide warning of events that could affect Ultra High Frequency (UHF) communications. SpaceDev provided these mechanical systems as a subcontractor to General Dynamics Advanced Information Systems, Gilbert, Ariz. In total, SpaceDev supplied 16 QwkNut separation systems and 3 High Output Paraffin (HOP) Pin Pullers, 100% of which operated nominally, deploying the C/NOFS solar panels, payload antennas and magnetometer boom. C/NOFS was launched on April 16, 2008 from Kwajalein atoll, aboard an Orbital Sciences Pegasus launch vehicle.

"For years, our HOP Pin Pullers and QwkNut separation systems have been a workhorse of the space industry for hold-down and release of critical components. Their simple, low shock operation reduces system costs and their reset capability allows the customer to test what they fly," said Mark Sirangelo, Chairman and CEO of SpaceDev. "SpaceDev has had more than 2,500 mechanisms operate in space with a complete mission success track record. It is exciting for us to add another significant number of operating devices to that legacy. The customer contacted us immediately after the deployment to express how pleased they were with the performance of the devices. We are proud to have played such a crucial role in the success of the C/NOFS mission."

About SpaceDev

SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space mission solutions and products. 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 risks associated with the Company's ability to effectively manage program technical, schedule, cost, customer changes or cancellation of orders to include obtaining additional financing. 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.