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Thu, Jan 08, 2004

Upgraded: Spacehab Names Brian Harrington As CFO

SPACEHAB has announced the appointment of Brian K. Harrington as Senior Vice President and Chief Financial Officer (CFO) effective January 5, 2004. Harrington, a 30-year veteran in corporate financial management, will oversee all of SPACEHAB's financial operations, including corporate finance, accounting, budgeting, regulatory compliance reporting, and investor relations.

"We are extremely pleased to have Brian on board," said Michael E. Kearney, SPACEHAB President and Chief Executive Officer. "We view his extensive experience and knowledge as integral to the continued growth of our company as we expand our role in space commerce. I have every confidence that SPACEHAB and our shareholders will be well served with Brian as CFO," Kearney added.

Harrington, who formerly served as Senior Vice President and CFO of New York Stock Exchange listed Kirby Corporation, returns to the CFO role at SPACEHAB after several years in financial consulting and interim financial management positions. During his tenure at Kirby Corporation, Harrington was instrumental in the recasting of the former Kirby Exploration Company into the largest domestic inland marine transporter of bulk liquid commodities. Harrington's corporate and consulting achievements include acquisitions, bank financings, public and private placement debt, public equity transactions, divestures, and recapitalizations.

Harrington began his career in the U.S Army, First Armored Division, where he served as Deputy Division Finance Officer during the Viet Nam conflict. A Certified Public Accountant, he holds a Masters of Business Administration from the University of Oregon and a Bachelor of Science in Business Administration from the University of Delaware. Harrington and his family are long-time Houston residents where he is involved in many civic and social activities.

Last October, SPACEHAB announced plans to close its Washington, D.C. office and move those operations to its Houston, Texas headquarters as part of an expense reduction effort. The Company's previous CFO, Julia A. Pulzone, elected to remain in the D.C. area. However, both Pulzone and the Corporate Controller, Carl Slaski, have agreed to stay with SPACEHAB as interim consultants to ensure a smooth transition of the finance functions.

FMI: www.spacehab.com, www.thespacestore.com

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