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Spacehab Names Senior Aerospace Executive to Board of Directors

Houston/May 30, 2003/Satnews Daily/  — Spacehab, Incorporated has appointed Dr. Fritz-Stefan Graul to the company's Board of Directors.

Dr. Graul is the Director of Orbital Infrastructure & Operations and Reusable Systems for Astrium, Europe's leading aerospace company. He is responsible for overseeing strategic planning, business development, and operations. Dr. Graul also manages all contractual and business dealings between Spacehab and Astrium Space Infrastructure and has been instrumental in forging a strategic alliance that has proven beneficial to both organizations and the aerospace industry as a whole.

Dr. Graul replaces former Board member, Josef Kind, who held a seat on the Spacehab Board of Directors since October 1999. Due to time constraints associated with his role as President of the Space Transportation Division of the European Aeronautics Defense and Space Company (EADS), Astrium's parent company, Mr. Kind has decided to relinquish his Board position. As a holder of Spacehab Series B Senior Convertible Preferred Stock, Astrium may elect one member to the Company's Board of Directors.

Hironori Aihara, Senior Executive Vice President and Chief Executive Officer of Mitsubishi International Corporation, also resigned from Spacehab's Board of Directors after 11 years of devoted service. He announced his retirement from Mitsubishi earlier this month and plans to return to Japan. The Board position previously held by Aihara will remain vacant until the next annual shareholders meeting.

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