Spacehab Receives $1 Million New Vision Contract Option From NASA

SPACE TRAVEL

Illustration of Spacehab-designed vehicles on the moon. Courtesy: Spacehab.

Houston TX (SPX) Mar 15, 2005
Spacehab announced Monday that NASA has exercised the Company's six-month option, valued at approximately $1.0 million, for the phase two extension of the Concept Exploration and Refinement contract.

"We are pleased to continue this exciting work with NASA," said Michael E. Kearney, Spacehab President and Chief Executive Officer.

"We believe that NASA understands the importance of commercial involvement in the Nation's Vision for Space Exploration, and Spacehab is committed to providing the highest level of innovation and quality to the program."

In September 2004 Spacehab was selected as one of just a handful of companies awarded Concept Exploration and Refinement contracts.

This contract gave Spacehab the opportunity to identify systems and an architecture that support human lunar exploration, while being extensible to Mars missions and other destinations.

This new option period, scheduled through August 2005, allows the Company to continue and expand upon the work completed over the previous six months.

Spacehab has focused on utilizing a modular approach, with commercial elements where feasible, to achieve the lunar exploration objectives and is evaluating a wide range of architecture concepts.

Richard Fitts, Program Manager for Spacehab's study effort, stated, "It is exciting to have our relatively small company contribute significantly to helping NASA achieve their exploration goals."

SPACE TRAVEL

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