Sierra Nevada News & Press Releases

POWAY, CA – December 16, 2008 – SpaceDev, Inc. (OTCBB: SPDV) announced earlier today that privately held Sierra Nevada Corporation (SNC) has completed the acquisition of SpaceDev by way of a merger of a wholly owned subsidiary of SNC into SpaceDev.  

It was reported in the release distributed early this morning that a total of 38,347,576 shares of SpaceDev common stock were voted on the merger proposal, of which 94.25%, or 28,733,232 shares, voted in favor of the merger. As a point of clarification, while 38,347,476 shares of SpaceDev common stock were present at the meeting either in person or by proxy, 30,485,731 voted on the merger agreement, of which 94.25%, or 28,733,232 shares, voted in favor of the merger. The holders of outstanding SpaceDev preferred stock also approved the merger.


About SpaceDev

For more information on SpaceDev please visit www.spacedev.com.

About Sierra Nevada Corporation

For more information on SNC please visit www.sncorp.com.

Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, although their absence does not mean that a statement is not forward looking. Forward-looking statements are based on the Company's current expectations, and are not guarantees of performance. The Company's actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks and uncertainties associated with: the Company's ability to effectively integrate acquisitions; rescheduling or cancellation of customer orders; uncertainties in the government budgeting process; ability to control costs and expenses; and larger competitors’ competitive advantages. Reference is also made to other factors described in the Company's periodic reports filed with the SEC, including the Company's most current Annual Report on Form 10-KSB. These forward-looking statements speak only as of the date of this release. SpaceDev does not undertake to update these forward-looking statements.