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Technology Stocks : SpaceDev: Mine Asteroids

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To: Stephen Balbach who wrote ()5/6/1998 12:13:00 AM
From: Bill J. Landis   of 65
 
I imagine most of the people reading this thread already got this email, but here it is anyway. Looks like SpaceDev has more sources for funding than room on their ship!!

From: "Jim Benson" <Jim@SpaceDev.Com>
Organization: SpaceDev, Inc.
To: neapfriends@SpaceDev.Com, neap@SpaceDev.Com, neapteam@SpaceDev.Com
Date: Tue, 5 May 1998 22:09:23 -0500
Subject: Seven to Propose for NEAP
Reply-to: Jim@SpaceDev.Com
Priority: normal
X-Info: Upon problems with NEAPfriends, use admin@spacedev.com

FOR IMMEDIATE RELEASE: May 6, 1998

CONTACT:
James Benson Shirley Thompson, President
CEO Mike Trueblood, Account Exec.
SpaceDev, Inc. Carl Thompson Associates, Inc.
(619) 684-3570 (303) 494-5472

SpaceDev Reports Seven Entities File Notice of Intent for Proposals on
Near Earth Asteroid Prospector

If Awarded, Each Proposal Would Generate $10-12 Million in Revenue

San Diego, CA -- SpaceDev (OTC BB: SPDV), the world's first
commercial space exploration company, reported today that seven
principal investigators, including professors from leading
laboratories and universities, filed Notices of Intent (NOI) with
NASA. These notices make them eligible to submit formal proposals for
funding the purchase of insured rides for their instruments on
SpaceDev's Near Earth Asteroid Prospector (NEAP) mission.

The entities represented in the filings included the Jet Propulsion
Laboratory (JPL), NASA Johnson Space Center, NASA - Ames Research
Center, Utah State University, Carnegie Mellon University, the
University of Arizona, and a joint proposal from HMC and the Naval
Research Laboratory.

The NOI is the first step in a process that could result in government
funding for specific experiments or instruments to be carried on NEAP,
scheduled for launch in late 2000.

"We are very excited about the quality of parties who filed NOIs,"
said James Benson, SpaceDev CEO. "The number of applicants exceeded
our expectations. Furthermore, it demonstrates there is serious pent
up demand for scientific data collected from space. This demand is
fueled by our ability to produce high quality science at one third the
current cost."

Based on SpaceDev's commercial price list, each notice, if formally
submitted as a proposal and approved by NASA, would result in $10-$12
million in revenue for the company. Mr. Benson noted however, that
the filing of an NOI does not automatically result in a proposal to
NASA and does not guarantee funding for any of the investigations
proposed. "We cannot estimate the approval rate for proposals.
However, we do believe the chances for approval of these experiments
may be higher than average. This is because NASA may be tempted to
fund a number of these inexpensive experiments in addition to a
complete mission in order to obtain more science per taxpayer dollar
than ever before."

The following is the list of principal investigators who filed Notices
of Intent, and their respective mission objectives:

Dr. Eleanor Helin, Jet Propulsion Laboratory. Mission: Investigate
the physical and chemical composition of the asteroid's surface.

Dr. Thomas Wilkerson, Utah State University. Mission: Near Earth
Asteroid LIDAR System, which is designed to study the asteroid's size,
shape, mass, geometry and to produce a three dimensional map of the
asteroid.

Dr. Richard V. Morris, NASA Johnson Space Center. Mission:
Backscatter Mossbauer Spectrometer (BaMs), which is designed to
identify iron bearing materials, link the spectral aspects of the
asteroid with its mineralogy, and assess the effects of space
weathering processes on the surface.

Dr. William "Red" Whittaker, Carnegie Mellon University. Mission:
Determine chemical composition of the asteroid's surface using a low
gravity mobile robotic explorer.

Dr. Peter Smith, University of Arizona. Mission: Image the spectral
characteristics of the asteroid using a multi band CCD Camera, similar
to those Dr. Smith placed on last year's successful Mars Pathfinder
Lander and Rover.

Dr. John Marshall, NASA, Ames Research Center. Mission: Use a
combination of x-ray and optical methods in one analytical device to
conduct compositional analysis of the asteroid's surface to determine
chemical composition, mineralogy, and the degree of molecular ordering
of material.

Dr. John Eric Hanson, HMC; Dr. Kent Wood, Naval Research Laboratory.
Mission: Design, build and fly an instrument to determine the
position, time and attitude of the mother spacecraft by measuring
emissions from X-ray pulsars. Also perform astronomical observations.

SpaceDev, (www.spacedev.com), the world's first commercial space
exploration and development company, intends to launch the first
privately financed spacecraft to land on a near-Earth asteroid for the
purpose of flying instruments and experiments for hire and for
collecting scientific data for sale. NEAP provides the first
opportunity for governments and companies to commercially fly their
instruments and experiments, fully insured, through deep space to
another planetary body. SpaceDev intends to sell the data acquired by
its own instruments as a commercial product.

The matters set forth in this release are forward-looking statements
that are dependent on certain risks and uncertainties including but
not limited to such factors as market demand, pricing, changes in
worldwide economic conditions, proposal submission and quality.

SpaceDev - NEAP (Near Earth Asteroid Prospector)
-o- Commercial Space Exploration & Development of Space Resources -o-
spacedev.com -o- Info@SpaceDev.Com
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