SpaceDev Announces Timing of Fiscal First Quarter 2006 Earnings Release and Conference Call

Business Wire, May 10, 2006

POWAY, Calif. -- SpaceDev, Inc. (OTCBB: SPDV) will host its first quarter 2006 earnings call on Tuesday, May 16, at 1:00 p.m. EDT. The Company expects to file its first quarter Form 10-QSB with the Securities and Exchange Commission at market close on Monday, May 15, 2006, or earlier, and issue a related press release on its financial results on Tuesday, May 16, 2006, when the markets open.

SpaceDev invites all those interested in hearing management's discussion of the quarter to join the call by dialing (877) 407-9205. International participants may access the call by dialing (201) 689-8054. A replay will be available for one week following the call by dialing (877) 660-6853 for domestic participants or (201) 612-7415 for international participants and entering access code 286 when prompted. Participants may also access a live webcast of the conference call through the investor relations section of SpaceDev's website at www.spacedev.com.

About SpaceDev

SpaceDev (OTCBB: SPDV) creates and sells affordable and innovative space products and solutions to government and commercial enterprises. SpaceDev's innovations include the design, manufacture, marketing and operation of sophisticated micro- and nano-satellites, hybrid rocket-based orbital Maneuvering and orbital Transfer Vehicles as well as sub-orbital and orbital hybrid rocket-based propulsion systems for safe human space flight. In addition, Starsys, Inc., a wholly-owned subsidiary of SpaceDev, is engaged in the design and manufacture of mechanical and electromechanical subsystems and components for spacecraft. Starsys' subsystems enable critical spacecraft functions such as pointing solar arrays and communication antennas and restraining, deploying and actuating of moving spacecraft components. For more information, visit www.spacedev.com.