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News Release
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Vienna, VA, July 3, 1996 — SPACEHAB Inc. (NASDAQ: SPAB) announced today that NASA has chosen SPACEHAB as the logistics carrier for three additional Space Shuttle missions to the Russian Space Station Mir. The Company currently is under a $54 million lease contract with NASA to provide similar services on four Shuttle missions to Mir, the first of which was completed on April 18, 1996. NASA has issued a change order to the Company's existing contract in the amount of $3,500,000 to allow SPACEHAB to begin start up work immediately in preparation for these additional missions. During this start up phase, the Company and NASA will finalize the contract for these new missions. These three additional missions are currently scheduled for flights in September 1997 (STS-86), January 1998 (STS-89) and May 1998 (STS -90). SPACEHAB will provide commercial logistics resupply services during the three new missions using its fleet of Single and Double Modules. SPACEHAB is the only pure player in the commercialization of human space activities. SPACEHAB is the first company to commercially develop, own and operate habitable modules that provide space-based laboratory research facilities and logistics resupply services aboard the U.S. Space Shuttle system. With these Modules, the Company serves three primary markets: (i) microgravity space research onboard Space Shuttles; (ii) space station logistics resupply and support; and (iii) ground operations and payload processing services that support both microgravity research and human space flight. |