SPACEHAB, Inc. (NASDAQ/NMS: SPAB), was incorporated in 1984 and made its initial public offering in 1995. The Company flew its first module on a space shuttle mission in 1993. To date (January 2007), SPACEHAB modules and carriers have been the primary payload on 21 Space Shuttle missions, including research missions on-board the fleet of orbiters, resupply missions to both the Russian space station, Mir, and the International Space Station (ISS).

SPACEHAB has earned the title of space pioneer and continues to be the front-runner in space commerce initiatives. Today, with approximately $50 million in annual revenue and over $75 million in private assets, SPACEHAB is a leading provider of commercial space services.

SPACEHAB began its commercialization roots through the development of a privately-owned, pressurized module that flies in the shuttle's cargo bay and doubles the amount of working and living space available to the astronaut crew. Today, the Company's research-based habitable module can accommodate a multitude of mission and customer requirements.

Expanding its services into the logistics arena, SPACEHAB developed new flight assets to support the growing transportation needs of ISS users. The logistics module, similar in configuration to the research module, enables delivery of up to 4,500 kilograms (10,000 pounds) of supplies while the unpressurized, externally-mounted cargo carriers permit delivery of 2,700 kilograms (6,000 pounds) of cargo.

In February 1997, SPACEHAB acquired Astrotech Space Operations, the leading commercial supplier of launch processing services in the United States. Astrotech provides satellite processing services at facilities in Florida and California in support of a range of expendable launch vehicles, including Lockheed Martin's Atlas and Boeing's Delta and Sea Launch rockets. Astrotech has successfully processed more than 240 missions and today, with its unique five-meter processing facility, is able to support larger spacecraft needs.

Expanding SPACEHAB's core business of supporting people living and working in space, the Company acquired Johnson Engineering (JE) in 1998 to include specialized engineering support services for both the Government, oil and gas industry, and various commercial sectors. As a NASA contractor of excellence for 30 years, JE, now SPACEHAB Government Services (SGS), offers a wide array of products and services in the product engineering and program integration and control fields. Specifically, SGS provides configuration and data management services to the most complex engineering program to date, the International Space Station, and manages large-scale engineering projects providing unique capabilities such as hardware design, development, testing, and fabrication.

Space Media, Inc. was formed in 2000 to develop space-related media and edutainment services to space enthusiasts around the world. A unique gateway to all things space, this business unit offered unprecedented access to innumerable engineers, marketing, and industry professionals, all prepared to support most any space need. Its online retailing outlet TheSpaceStore.com provided a wide range of distinctive and personalized gifts, clothing, mission patches, and more. However, in order to focus the company's efforts on the goals associated with arranging, processing, and delivering cargo to orbit, SPACEHAB divested the subsidiary and its internet business in October 2006 to a private investor who is continuing to operate The Space Store under its existing name and website address.