Tasmania:
Black Hole
Above

Australia in Space
a History
TOPEX-POSEIDON

Bouncing radar off the sea


CRC
for
Satellite
Systems
Australian Satellite Science and Engineering


NEAP: Near Earth Asteriod Prospecting: A Digest

Disclaimer: This Digest is produced to meet general interest in what is undoubtedly a historic commercial venture. Neither the CRCSS, La Trobe University, nor Dr Harvey A. Cohen endorse the relability of any company announcements reproduced here.
Press Releases

---------- Forwarded message ----------
Date: Wed, 12 Nov 1997 13:11:43 -0700
From: Jim Benson 
To: Super@SpaceDev.Com
Subject: NEAP Announcement of Opportunity

Greetings,

I thought you might be interested in this news release concerning the 
price list for NEAP.

With this announcement, SpaceDev is "officially open for business." We 
already have had three serious inquiries about
 rides on NEAP for 
scientific experiments, from two NASA centers and from a Japanese space 
agency. In addition, I know of at least two proposals being worked on 
that would use the Custom Instrument or Dropcan capabilities
 of NEAP.

Regards,

Jim Benson


Media Information:  Gretchen Jaspering  314.477.8400
Investment Information:  Jamie Driscoll  617.695.6360

NEAR EARTH ASTEROID PROSPECTOR
ANNOUNCEMENT OF OPPORTUNITY RELEASED

November 11, 1997, Steamboat Springs, CO -For the first time in the
history of space exploration, a private company is offering the scientific
community, governments and companies a ride aboard a spacecraft for their
experiments or instruments at insured, published, fixed prices. 

SpaceDev, (www.SpaceDev.Com) the world's first commercial space
exploration company, intends to launch the first private spacecraft to
land on a near earth asteroid for the purpose of collecting scientific
data and to stake a claim to establish private property rights in space. 

The spacecraft, Near Earth Asteroid Prospector (NEAP), first in a series
of SpaceDev Space Prospectors, will carry three of its own instruments to
analyze its asteroids size, and determine its composition and value. In
addition to these, space is available for up to seven additional
experiments or instruments of which four are canisters for instruments or
experiments to be deployed into sun orbit during the mission or to the
surface of the SpaceDev asteroid. On the first mission, one canister will
contain the NEAP alpha proton X-ray spectrometer which will be used to
determine the elemental composition of the asteroid surface, leaving three
canisters available to carry customer experiments or nano-rovers.

"Until today, scientists, universities, companies and governments have had
one avenue to space-the government. NEAP is the new spacecraft on the
launchpad, and its science costs only one-fourth what a recent government
mission costs," said James W. Benson, Chairman, SpaceDev.

"This unique opportunity to use a private spacecraft offers these
customers inexpensive access to space on short notice and also offers
quick turn around on experiment results-results in approximately half the
time of current missions. Furthermore, the mission represents minimal risk
to the customer, because customer's instruments are fully insured against
launch failure," said Benson.

NEAP intends to launch between mid 1999 and mid 2000, with flight time
estimated at between nine and fifteen months. Potential target asteroids
include 1993 BX3 and 1996 FO3. 

Construction and testing of NEAP will begin during the first quarter of
1998 and will take approximately 18 months to complete. SpaceDev is a
public company (OTC:PSDM) specializing in private space missions and
consulting.

Full details of the Announcement of Opportunity are available on the
SpaceDev website:

http://spacedev.com/SpaceDev/PriceLst.html

           SpaceDev - NEAP (Near Earth Asteroid Prospector)
-o-  Commercial Space Exploration & Development of Space Resources  -o-
             http://www.spacedev.com  -o-  Info@SpaceDev.Com
To subscribe to the "Friends of NEAP" email progress report list, email:
Admin@SpaceDev.Com and for the body of the email: subscribe neapfriends


-----------------------------------------

---------- Forwarded message ----------
Date: Wed, 22 Oct 1997 17:38:48 -0700
From: Jim Benson 
To: super@SpaceDev.Com
Subject: SpaceDev Went Public Today!!!!!

Greetings,

Below is the text of the news release explaining how SpaceDev went public 
today. To summarize: SpaceDev is now owned by Pegasus.

I was unexpectedly in Denver when the news broke. Pegasus (SpaceDev) 
trading closed at about $2.75.

Thanks for your interest, and good luck!!

Jim Benson


***************

COMPANY:  Pegasus Development Group, Inc.
TRADING SYMBOL:  PSDM

***************


Steamboat Springs, CO (October 22, 1997)  - SpaceDev, LLC a 
Colorado-based holding company announced that it has acquired a 
controlling interest in Pegasus Development Group, Inc.  (OTC Bulletin 
Board: PSDM) of Denver, Colorado.

In connection with this transaction the LLC also agreed to exchange 
1,000,000 shares of SpaceDev, a development-stage Nevada corporation 
engaged in commercially-based planetary space related services and 
programs.  Upon completion of this second transaction, Pegasus will own 
100% of SpaceDev and SpaceDev LLC will own more than 95% of Pegasus.

At a news conference held in Washington, DC on September 9th, SpaceDev 
announced the formation of its Near Earth Asteroid Prospector ("NEAP") 
mission.  NEAP consists of building, testing, and launching the world's 
first private planetary exploration probe.  The NEAP spacecraft will 
carry three state of the art, data gathering/reporting scientific 
instruments including an alpha-proton-x-ray spectrometer (a duplicate of 
the instrument used on NASA's recent Mars Sojourner Rover), a neutron 
spectrometer and a multi-band CCD camera.

"NEAP" is unique," said Jim Benson, chairman of SpaceDev "because for the 
first time, government agencies, universities and institutes around the 
world will be able to buy insured rides for their experiments and 
instruments on a fast turn around planetary mission offered by a private 
company."

Although SpaceDev intends to use existing and proven technology, no 
assurance can be given that the company will have adequate funds to 
implement its business plan or that the business plan will be successful.

The business plan currently calls for an expected first launch in 1999. 

This news release contains forward-looking statements.  Actually results 
may vary due to a wide variety of risk factors including but not limited 
to, availability of substantial additional financing, dependence on 
management, government relations, successful building and launching of 
spacecraft, dependence on outside contractors and other risks generally 
associated with a start-up development venture. 

SOURCE: SpaceDev

 -O-

Investor Contact:  James P. Driscoll, CDF Investor Relations, 
617-695-6360

Web site:  http://www.spacedev.com

Media Contact: Gretchen Jaspering, Susan Flowers Communications, Inc., 
314-477-8400.

CO:  SpaceDev; Pegasus Development Group, Inc.
ST:  Colorado
IN:  ARO
SU:  ACC

           SpaceDev - NEAP (Near Earth Asteroid Prospector)
-o-  Commercial Space Exploration & Development of Space Resources  -o-
             http://www.spacedev.com  -o-  Info@SpaceDev.Com
To subscribe to the "Friends of NEAP" email progress report list, email:
Admin@SpaceDev.Com and for the body of the email: subscribe neapfriends





SOURCE: SpaceDev
Web site: http://www.spacedev.com
To subscribe to the "Friends of NEAP" email progress report list, email: Admin@SpaceDev.Com and for the body of the email: subscribe neapfriends
Tasmania:
Black Hole
Above

Australia in Space
a History
TOPEX-POSEIDON

Bouncing radar off the sea


CRC
for
Satellite
Systems
Australian Satellite Science and Engineering