FOR IMMEDIATE RELEASE
SPACEHAB ANNOUNCES MANAGEMENT CHANGES
Washington, D.C., December 22, 2000 – SPACEHAB, Inc.
(NASDAQ/NMS: SPAB), a leading provider of commercial space services, today
announced that David A. Rossi, SPACEHAB’s President and a Director,
has elected to resign these positions to pursue other interests. Michael
E. Kearney, Senior Vice President of Business Development, has been named
President of SPACEHAB.
“We thank Mr. Rossi for his many years of service to the Company,” stated Dr. Shelley A. Harrison, SPACEHAB’s Chairman and Chief Executive Officer. “We look forward with great confidence to Mr. Kearney’s service as our President and Chief Operating Officer. SPACEHAB enters the New Year with a strong backlog and an excellent inventory of assets and services proven valuable to the International Space Station (“ISS”) for its 15 plus years of assembly and utilization. We also look forward to the new media and research opportunities for our Enterprise™ commercial module under construction with RSC-Energia.”
Mr. Kearney, who has been with SPACEHAB for six years, has led the Company’s successful new business development activities since 1998 and has been instrumental in establishing new product lines and strengthening international partnerships. Prior to joining SPACEHAB, Mr. Kearney worked for the McDonnell Douglas Corporation on the International Space Station after a twenty-five-year career of excellence in Naval Weapon Systems Acquisition. Mr. Kearney holds both Bachelors and Masters Degrees in Engineering from the Navy Postgraduate School, graduating Cum Laude.
Founded in 1984, with more than $100 million in annual revenue, SPACEHAB, Inc., is a leading provider of commercial space services. The company is the first to develop, own, and operate habitat modules and cargo carriers providing laboratory facilities and resupply capabilities aboard NASA’s Space Shuttles. It also supports astronaut training at NASA’s Johnson Space Center in Houston and builds full-scale space-flight trainers and mockups. SPACEHAB’s Astrotech subsidiary provides commercial 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. SPACEHAB’s newest strategic growth initiative, Space Media, Inc. (SMI™, a subsidiary), will bring space into homes and classrooms worldwide with television and Internet broadcasting from the International Space Station.
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FOR MORE INFORMATION:
Linda Billings
Director of Communications
SPACEHAB, Inc.
202/488-3500; toll-free
888/647-9543
billings@hqspacehab.com
Julia A. Pulzone
Chief Financial Officer
SPACEHAB, Inc.
202/488-3500
pulzone@hqspacehab.com
This release contains forward-looking statements that
are subject to certain risks and uncertainties that could cause actual results
to differ materially from those projected in such statements. Such risks
and uncertainties include, but are not limited to, whether the company will
fully realize the economic benefits under its NASA and other customer contracts,
the timing and mix of Space Shuttle missions, the successful development
and commercialization of new space assets, technological difficulties, product
demand, timing of new contracts, launches and business, market acceptance
risks, the effect of economic conditions, uncertainty in government funding,
the impact of competition, and other risks detailed in the Company’s
Securities and Exchange Commission filings.