International Lunar Observatory Association

SpaceDev to Develop Payload for International Lunar Observatory

Wednesday, January 2, 2008

SpaceDev to Develop Payload for International Lunar Observatory
Design to Include Astrophysics and Communications Capability for Private Moon Mission

POWAY, CA – January 2, 2008 - SpaceDev, Inc. announced today that it has been awarded a contract by the International Lunar Observatory Association (ILOA) of Hawaii to conduct requirements definition and preliminary design of the ILO spacecraft's astrophysics and communications payload. ILO will perform various astronomical observations from the South Pole of the Moon, and will also engage in commercial communications activities.

"We see this as a critical phase of work for ILO, as it will solidify the mission's goals and priorities," said Mark N. Sirangelo, SpaceDev's Chairman and Chief Executive Officer. "We will determine how to deliver the most valuable and desirable astrophysics data from the surface of the Moon to scientists around the world, while pursuing a design to allow the rapid, low-cost mission development that will be a hallmark of ILO."

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

About ILOA

The International Lunar Observatory Association is a Hawaii-based non-profit organization dedicated to expanding human knowledge of the Cosmos through observation from the Moon, via its ILO and ILO Human Service missions. For more information, please visit

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 manage schedule changes or cancellation of customer orders, control costs and expenses, and obtain additional financing, if needed. 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.


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