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FOR IMMEDIATE RELEASE

SPACEHAB ANNOUNCES PUBLICATION OF INVESTMENT PROFILE
Full Text Available on Corporate Website

Houston, Texas, July 31, 2003 – SPACEHAB, Incorporated (NASDAQ/NMS: SPAB), a leading provider of commercial space services, today announced that an investment profile, which details the Company's goals for its future financial and operating performance, has been issued.

The investment profile provides an overview of key corporate initiatives and its strategy for growth. The profile is available on the Company’s corporate website, within the Investor Relations section, at www.spacehab.com or a copy can be obtained by contacting Haris Tajyar, Investor Relations International, at 818.981.5300.

About SPACEHAB
With more than $100 million in annual revenue, SPACEHAB, Incorporated (www.spacehab.com) 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 for space station resupply and research purposes. Its Government Services business unit provides Space Station and Space Shuttle support services including orbiter crew compartment integration, stowage, and configuration management to 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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