Richard Slansky

The Investor Relations Group
Investor Contact: Kathryn McNeil /John Nesbett/Dian Griesel
Media Contact: Michael Graff/Janet Vasquez
(212) 825-3210

SpaceDev Promotes Richard B. Slansky to President.

Becomes Newest Member of the Board of Directors

POWAY, CA November 18, 2004 - SpaceDev (OTCBB: SPDV) announced that its Board of Directors has appointed Richard B. Slansky to the position of President, also granting him a seat on the Company’s Board of Directors. Mr. Slansky will remain SpaceDev’s Chief Financial Officer and Corporate Secretary, positions he has held since joining the Company in February 2003.

“As chief financial officer, Richard has lead SpaceDev to a new level of financial success and I am confident that as SpaceDev enters this exciting period of growth that Richard not only has the right combination of financial and operational experience but also the enthusiasm and drive to contribute substantially to the development of SpaceDev as President,” said SpaceDev’s founding chairman and chief executive officer, Jim Benson .

Prior to joining SpaceDev, Mr. Slansky served in various positions, such as President, Chief Financial Officer, Corporate Secretary and Vice President of Finance, Operations and Administration for Path 1 Network Technologies, Inc., a U.S. publicly held company, and Nautronix Inc., an Australian publicly held company. In addition to his current responsibilities at SpaceDev, Mr. Slansky serves on the Board of Directors of two privately held high technology companies, one closely held private real estate company and the not-for-profit Board of the Girl Scouts, San Diego-Imperial Council. Mr. Slansky earned a bachelor’s degree in economics and science from the University of Pennsylvania 's Wharton School of Business and a master’s degree in business administration in finance and accounting from the University of Arizona .

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 sand orbital hybrid rocket-based propulsion systems for safe human space flight. For more information, visit www.spacedev.com .

This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. Forward-looking statements are based on the Company's current expectations. The Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures outlined in the Company’s periodic reports filed with the U.S. Securities & Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company’s annual report on Form 10-KSB, including the consolidated financial statements filed therewith. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
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Copyright © 2004 SpaceDev, Inc. All rights reserved.

For Further Information:
Richard B. Slansky
Chief Financial Officer
(858) 375-2030


	November 18, 2004
The Investor Relations Group Investor Contact: Kathryn McNeil /John Nesbett/Dian Griesel Media Contact: Michael Graff/Janet Vasquez (212) 825-3210 SpaceDev Promotes Richard B. Slansky to President. Becomes Newest Member of the Board of Directors POWAY, CA November 18, 2004 - SpaceDev (OTCBB: SPDV) announced that its Board of Directors has appointed Richard B. Slansky to the position of President, also granting him a seat on the Company’s Board of Directors. Mr. Slansky will remain SpaceDev’s Chief Financial Officer and Corporate Secretary, positions he has held since joining the Company in February 2003. “As chief financial officer, Richard has lead SpaceDev to a new level of financial success and I am confident that as SpaceDev enters this exciting period of growth that Richard not only has the right combination of financial and operational experience but also the enthusiasm and drive to contribute substantially to the development of SpaceDev as President,” said SpaceDev’s founding chairman and chief executive officer, Jim Benson . Prior to joining SpaceDev, Mr. Slansky served in various positions, such as President, Chief Financial Officer, Corporate Secretary and Vice President of Finance, Operations and Administration for Path 1 Network Technologies, Inc., a U.S. publicly held company, and Nautronix Inc., an Australian publicly held company. In addition to his current responsibilities at SpaceDev, Mr. Slansky serves on the Board of Directors of two privately held high technology companies, one closely held private real estate company and the not-for-profit Board of the Girl Scouts, San Diego-Imperial Council. Mr. Slansky earned a bachelor’s degree in economics and science from the University of Pennsylvania 's Wharton School of Business and a master’s degree in business administration in finance and accounting from the University of Arizona . 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 sand orbital hybrid rocket-based propulsion systems for safe human space flight. For more information, visit www.spacedev.com . This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. Forward-looking statements are based on the Company's current expectations. The Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures outlined in the Company’s periodic reports filed with the U.S. Securities & Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release and to read it in conjunction with the Company’s annual report on Form 10-KSB, including the consolidated financial statements filed therewith. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason. ### Copyright © 2004 SpaceDev, Inc. All rights reserved. For Further Information: Richard B. Slansky Chief Financial Officer (858) 375-2030