PRESS RELEASE

Sierra Nevada Corporation Completes Critical Wind Tunnel Tests for its Dream Chaser® Spacecraft Passes NASA CCiCap Program Milestone

Sparks, Nev., May 19, 2014 – Sierra Nevada Corporation (SNC) announces the successful completion of the latest milestone in its NASA Commercial Crew Integrated Capability (CCiCap) agreement. NASA awarded SNC full value of $20 million for the passage of CCiCap Milestone 8, Wind Tunnel Testing. To date, SNC has received over 80 percent of the total award value under the CCiCap agreement and is on track to complete the program later this year.

The purpose of Milestone 8 was to continue to advance the overall design of the Dream Chaser®orbital spacecraft by analyzing the forces and flight dynamic characteristics that the vehicle will experience during orbital ascent and re-entry. The completion of this milestone significantly advances the path to orbital flight of the Dream Chaser spacecraft and the Dream Chaser Atlas V integrated launch system. Several Dream Chaser scale model spacecraft were subjected to multiple different wind tunnel tests in various configurations, including the integrated Dream Chaser attached to the United Launch Alliance Atlas V launch vehicle. In addition to the baseline milestone criteria, SNC fully self-funded an additional wind tunnel test that will accelerate the Dream Chaser development schedule and path to completion of the Critical Design Review.

“The aerodynamic data collected during these tests has further proven and validated Dream Chaser’s integrated spacecraft and launch vehicle system design. It also has shown that Dream Chaser expected performance is greater than initially predicted,” said Mark N. Sirangelo, corporate vice president and head of SNC’s Space Systems. “Our program continues to fully complete each of our CCiCap agreement milestones assisted through our strong collaboration efforts with our integrated ‘Dream Team’ of industry, university and government strategic partners. We are on schedule to launch our first orbital flight in November of 2016, which will mark the beginning of the restoration of U.S. crew capability to low-Earth orbit.”

The wind tunnel tests for this milestone were completed at NASA’s Ames Research Center in Moffett Field, California, CALSPAN Transonic Wind Tunnel in New York, and at NASA’s Langley Research Center Unitary Plan Wind Tunnel in Hampton, Virginia. SNC has a long standing relationship with Langley dating to 2004, the beginning of its development for the Dream Chaser, a derivative of NASA’s HL-20 lifting body vehicle. Langley also houses the full motion-based flight simulator, which operates using Dream Chaser flight software and has been used to train future Dream Chaser pilots and NASA astronauts. In addition to these locations, previous wind tunnel testing also occurred at NASA’s Marshall Space Flight Center in Huntsville, Alabama and at Texas A&M University.

SNC is working with NASA’s Commercial Crew Program to develop a safe, innovative, modern, flexible and highly-capable crew transportation system for the 21st Century. Dream Chaser provides the only reusable, human-rated lifting-body spacecraft with a commercial runway landing capability, anywhere in the world, and is on the forefront of the commercial human spaceflight industry, offering safe, reliable and cost-effective crew and critical cargo transportation to low-Earth orbit. Dream Chaser is a multi-mission capable spacecraft that has the ability to work as an independent science platform, or as a logistics vehicle to retrieve, repair, replace, assemble or deploy items in space.

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

About Sierra Nevada Corporation
Sierra Nevada Corporation (SNC), headquartered in Sparks, Nevada, 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 President Eren Ozmen, SNC has a workforce of over 3,000 personnel in 30 locations in 16 states. SNC's six unique business areas are dedicated to providing leading-edge solutions to SNC's dynamic customer base.

SNC is also the Top Woman-Owned Federal Contractor in the United States. Over the last 30 years under the Ozmen's leadership, SNC has remained focused on providing its customers the very best in diversified technologies to meet their needs and has a strong and proven track record of success. The company continues to focus its growth also on the commercial sector through internal advancements in dual-use applications and outside acquisitions, including the emerging markets of renewable energy, telemedicine, nanotechnology, cyber and net-centric operations. For more information on SNC visit www.sncorp.com and follow us at Facebook.com/SierraNevCorp.