Benson Space Company Signs Agreement for Phase I Development of SpaceDev Dream Chaser Spaceships

POWAY, Calif., Dec. 19  /PRNewswire/ -- In the wake of hiring retired NASA space shuttle astronaut and decorated Naval pilot Robert "Hoot" Gibson as COO and chief test pilot, Benson Space Company (BSC) has agreed to a proposal from SpaceDev (OTC:SPDV) (BULLETIN BOARD: SPDV) , which will undertake the Phase I development of the SpaceDev Dream Chaser(TM) spaceship.  The agreement marks a significant milestone that advances BSC toward the launching pad and promises to shepherd in the era of personal spaceflight.  Established in September 2006 by SpaceDev founder Jim Benson, BSC seeks to provide the first, safest and lowest cost astronaut-making spaceflights for the emerging space tourism market.

"It's official -- we've begun our countdown to what I expect will be BSC's first suborbital flights by the end of 2008," said Benson, who until recently served as chairman and CTO of SpaceDev, a company that develops a wide variety of advanced, innovative space technologies.  "BSC is on schedule to win this historic race to space."

The initial development of Phase I is a five-month project that will result in a critical design review and approval process for the suborbital Dream Chaser spaceship, which is based NASA's design of the HL-20 Personnel Launch System.  Upon completion of Phase I, the Dream Chaser and its rocket motors will be ready for fabrication, to be followed by months of rigorous testing, including ground firings of the rocket motors, glide tests of the Dream Chaser and, finally, powered Dream Chaser flights.

"We look forward to undertaking this exciting project with Jim, and to completing this first-phase contract in March 2007," offered Mark N. Sirangelo, chairman and CEO of SpaceDev.  "We are confident that we can assist Jim Benson and BSC to routinely take civilians to space, and we are proud to provide the technical know-how and products to make that a reality."

About Benson Space Company

Established in September 2006, Benson Space Company (BSC) seeks to provide the first, safest and lowest cost astronaut-making spaceflights for the emerging personal spaceflight market.  BSC is led by Jim Benson, founder and former chairman/CEO/CTO of SpaceDev (OTC:SPDV) (BULLETIN BOARD: SPDV) , which developed the world's only hybrid rocket motors used for human spaceflight. Under Benson's guidance for nearly a decade, SpaceDev designed and produced an innovative satellite for NASA and the hybrid rocket motor technology for Paul Allen's SpaceShipOne, the vehicle that won the $10 million Ansari X Prize in 2004.  BSC is currently working with SpaceDev in developing the SpaceDev Dream Chaser(TM) spaceships, based on a proven and NASA-tested design, which will allow BSC to offer the world's first, commercial, suborbital spaceflights. For more information visit http://www.bensonspace.com/. 

DATASOURCE: Benson Space Company



CONTACT:  Media, Alfred Hopton for Benson Space Company, [phone],





Web site:  http://www.bensonspace.com/ 

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