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FOR IMMEDIATE RELEASE

SPACEHAB PRESIDENT DISCUSSES GROWTH STRATEGY ON CEOcast.com

Houston, Texas, March 21, 2003 – SPACEHAB, Incorporated (NASDAQ/NMS: SPAB), a leading provider of commercial space services with over $100 million in sales, today announced that its President, Michael E. Kearney, is featured in an on-line interview with CEOcast, Inc. During the interview, Mr. Kearney discusses the driving factors behind the Company's recently reported strong second quarter financial results, plans on delivering on its $173 million backlog of contracts, status of its existing and new business opportunities as well as other matters relating to SPACEHAB and its shareholders.

The interview is available at http://www.ceocast.com. To access Mr. Kearney’s interview, click on the “Register Free” banner in the upper right corner of the page. You will be prompted to enter your name, e-mail address, and create a password. This will register you and send you back to CEOcast's home page. At that point, type in SPACEHAB or its ticker symbol, “SPAB”, and you will be directed to the interview.

About SPACEHAB
With more than $100 million in annual revenue, SPACEHAB, Incorporated is a leading provider of commercial space services. The Company develops, owns, and operates habitat and laboratory modules and cargo carriers aboard NASA’s Space Shuttles. Its Johnson Engineering subsidiary provides orbiter crew compartment integration, ISS stowage and configuration management, supports astronaut training, and builds space-flight mockup trainers at NASA's Johnson Space Center in Houston. SPACEHAB’s Astrotech subsidiary provides commercial satellite processing services at facilities in California and Florida. Additionally, through The Space Store, Space Media provides space merchandise to the public and space enthusiasts worldwide (www.thespacestore.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 impact of the recent Columbia tragedy on the Company's existing and future business operations, the amount of any indemnification payments the Company may receive for its RDM, which was lost as part of the Columbia tragedy, 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, the impact of war, uncertainty in government funding, the impact of competition, and other risks detailed in the Company’s Securities and Exchange Commission filings. The Company assumes no obligation to update these forward-looking statements.

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