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Wed, Nov 10, 2004

Spacehab Files Tort Claim For Losses On Space Shuttle Mission

Company Wants $79.7 Million For Columbia Loss

Spacehab Tuesday said it's filed a formal claim against NASA seeking restitution for its losses in the 2003 Columbia shuttle disaster. Spacehab says its losses total more than $79.7 million.

In January 2004 the Company filed suit against NASA, seeking indemnification under the Company's ReALMS contract for $87.7 million. That, Spacehab claimed, was the value of the Company's Research Double Module (RDM) and related equipment destroyed in the STS-107 tragedy. NASA responded to this contract claim on October 5, 2004, saying its liability is limited under the ReALMS contract to $8.0 million.

Under the Federal Tort Claims Act, SPACEHAB accuses NASA of negligence in the shuttle disaster. Under federal tort claim procedures, NASA has statutory deadlines for responding to such claims. If the company's claim is denied, the Company would have the right to pursue the claim in the Federal district court.

FMI: www.spacehab.com

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