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SPACEHAB ELECTS NEW
DIRECTORS Washington, DC, October 18, 1999 — At SPACEHAB, Inc.'s (Nasdaq: SPAB) annual meeting on October 14 in Washington, shareholders elected three new members to the company's Board of Directors. The new directors are:
In other business, DaimlerChrysler Aerospace AG (Dasa) concluded the second portion of its purchase of a $12 million equity stake in SPACEHAB. On August 2, Dasa announced that it would purchase 1.33 million shares of SPACEHAB preferred stock at $9 per share, convertible on a one-for-one basis into common stock. To enable the completion of Dasa's investment, shareholders approved an amendment to SPACEHAB's articles of incorporation to increase the number of shares of preferred stock the company is authorized to issue from 1 million to 2.5 million. SPACEHAB shareholders also approved an amendment to the company's Stock Incentive Plan and ratified the appointment of KPMG LLP as independent public accountants of the company's financial statements for fiscal year 2000. SPACEHAB, with its Johnson Engineering and Astrotech subsidiaries, is the world's leading provider of commercial payload processing services for manned and unmanned payloads. SPACEHAB is the first company to commercially develop, own and operate habitable modules that provide laboratory facilities and logistics re-supply aboard NASA's Space Shuttles. The Company also supports NASA astronaut training at the Johnson Space Center.
Mark
A. Kissman Linda Billings |