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Sierra Nevada Corporation's Dream Chaser® Team Successfully Completes First Milestone as Part of NASA's Commercial Crew Integrated Capability Initiative

Louisville, Colo. - Aug. 23, 2012 - Sierra Nevada Corporation (SNC) is pleased to announce that the company's Dream ChaserSpace System has successfully completed its first milestone as part of NASA's Commercial Crew Integrated Capability (CCiCap) initiative.  SNC presented NASA with a complete Program Implementation Plan Review, detailing the design, development, system testing, evaluation, risk reduction activities and flight testing of all systems planned for the 21-monthbase and optional agreement period.

"SNC is honored to receive an award under the CCiCap program to continue working with NASA to develop and fly our lifting-body spacecraft.  We believe that the Dream Chaser will define the future of reusable and versatile commercial crew space transportation.  Our team is committed to achieving all of our promised milestones, in addition to numerous other tasks supported by substantial SNC investment, on time and within budget to put American astronauts back into space on an American vehicle," said Mark Sirangelo, corporate vice president and head of SNC's Space Systems

"We have gotten off to a great start by rapidly completing our Program Implementation Plan Review with the NASA Commercial Crew Program management.  We agreed to the plan for accomplishing a significant amount of hardware development, testing and the reviews necessary to advance the Dream Chaser Space System toward orbital flight.  We will continue to retire risk and make significant progress in completing a safe and reliable spacecraft for NASA astronauts," said Jim Voss, vice president of SNC's Space Exploration Systems, which is producing the Dream Chaser.

SNC also is preparing to conduct its first Approach and Landing Test, mirroring the flight test of NASA's space shuttle Enterprise.  That test is scheduled for later this year and will be completed in conjunction with Dream Chaser's NASA Dryden Flight Research Center team at the historic Edwards Air Force Base. 

"NASA is very confident in the ability and capability of our CCiCap partners to make progress on their integrated spacecraft and launch vehicle systems," said Ed Mango, NASA's Commercial Crew Program manager. "We now have our team of engineers and safety experts ready to assist Sierra Nevada Corporation with the continued development of its Dream Chaser spacecraft and United Launch Alliance Atlas V rocket combination."

SNC's CCiCap agreement will bring the Dream Chaser Space System one step closer to beginning the transportation of crews to low-Earth orbit. For information about Sierra Nevada Corporation's Space Systems, including images and video of the Dream Chaser Vehicle's Captive Carry Test, visit: www.SNCSpace.com

About Sierra Nevada Corporation's Space Systems

Sierra Nevada Corporation's Space Systems business area headquartered in Louisville, Colorado, designs and manufactures advanced spacecraft, space vehicles, rocket motors and spacecraft subsystems and components for the US Government, commercial customers as well as for the international market.  SNC Space Systems has more than 25 years of space heritage in space and has participated in over 400 successful space missions through the delivery of over 4,000 systems, subsystems and components.  During its history, SNC Space Systems has concluded over 70 programs for NASA and over 50 other clients. For more information about SS visit www.sncspace.com.

MEDIA CONTACT: media.ssg@sncorp.com or Krystal Scordo at720-407-3192

About Sierra Nevada Corporation

Sierra Nevada Corporation (SNC) is one of America's fastest growing private companies based on its significant expansion and reputation for rapid, innovative, and agile technology solutions in electronics, aerospace, avionics, space, propulsion, micro-satellite, aircraft, communications systems and solar energy. Under the leadership of CEO Fatih Ozmen and Chairman and President Eren Ozmen, SNC employs over 2,100 people in 31 locations in 16 states.  SNC's six unique business areas are dedicated to providing leading-edge solutions to SNC's dynamic customer base. For more information on SNC visit www.sncorp.com.

MEDIA CONTACT: communicationsfromsnc@sncorp.com or Michelle Erlach at 775-331-0222