SPACEHAB TO ANNOUNCE FOURTH QUARTER AND FISCAL 2003 FINANCIAL RESULTSON AUGUST 28, 2003

FOR IMMEDIATE RELEASE

SPACEHAB TO ANNOUNCE FOURTH QUARTER AND FISCAL 2003 FINANCIAL RESULTS ON AUGUST 28, 2003

Houston, Texas, August 21, 2003 – SPACEHAB, Incorporated (NASDAQ/NMS: SPAB), a leading provider of commercial space services, today announced that its fourth quarter and fiscal year 2003 financial results, ending June 30, 2003, will be released on Thursday, August 28, 2003 before market open.

SPACEHAB will host a conference call at 10:00 a.m. Eastern time following the earnings release. During the call, management will discuss the Company’s fourth quarter financial results, year-end results, as well as other recent and potential future developments relating to SPACEHAB. To participate on the call, please register with Haris Tajyar at 818.981.5300. To participate via the Internet, please visit the Investor Relations section of the SPACEHAB website at www.spacehab.com. A taped replay will be available immediately following the conference call and accessible via access code 18722179 until 11:59 p.m. Eastern time on August 29, 2003 at 800.252.6030 (domestic calls) or 402.220.2491 (international calls). An audio archived webcast of the conference call will be available on the Company website for 90 days.

About SPACEHAB
With approximately $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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