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SIERRA NEVADA CORPORATION'S DREAM CHASER SPACE SYSTEM AWARDED MAJOR NASA ORBITAL TRANSPORTATION DEVELOPMENT CONTRACT

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SPARKS, Nev., Aug. 3, 2012 - Eren Ozmen, President of Sierra Nevada Corporation (SNC), is pleased to announce that the company's Dream Chaser® Space System has been awarded $212.5 million as part of NASA's Commercial Crew Integrated Capability (CCiCap) Program.  The 21 month contract will begin in August of 2012.

Mark Sirangelo, Corporate Vice President and head of SNC's Space Systems stated, "SNC, as the owner and prime contractor for the Dream Chaser Space System, on behalf of all of our industry, academic, and NASA Center teaming partners would like to thank NASA for showing the confidence in us and for all its efforts to maintain the vital Commercial Crew Program as part of its plan for the future of space transportation. We are very pleased to have been awarded this amount of funding as part of NASA's ongoing effort to create a commercial human transportation system to low Earth orbit. This award will allow our Program to continue to make great strides in the development of the Dream Chaser Space System. We want to express our appreciation to all of those that have provided great support in our efforts, including everyone within our organization and our terrific external team partners, the NASA personnel assigned to our efforts and throughout the NASA Centers and our federal, state, and local government representatives."

SNC has integrated the efforts of its powerful team of leading aerospace companies, academic institutions, and NASA Centers to significantly advance the development of the Dream Chaser orbital crew vehicle and the associated mission, ground, and crew systems, as well as launch vehicle integration. To date, the SNC team has completed 19 milestones; including a full system Preliminary Design Review and first captive carry flight, in addition to a significant number of additional tasks. The remaining milestone under the second round of NASA funding will be an Approach and Landing Test scheduled for later this year, mirroring the first flight test of the Space Shuttle Program.  The full CCiCap Program will allow SNC to complete development of the Dream Chaser Space System and transport crews to space as early as 2016.

"We are pleased to be selected to continue development of the Dream Chaser Space System and proud that NASA is showing confidence in the SNC team's ability to develop our nation's next human spacecraft.  Our team will continue to work with NASA to ensure that the Dream Chaser is a reliable and safe spacecraft to carry NASA astronauts to the International Space Station," said Jim Voss, Vice President of SNC's Space Exploration Systems and Dream Chaser Program Manager. I believe we were chosen to continue the Dream Chaser Program because we have a great design, a great team, and have demonstrated, in cooperation with our NASA Partner, that we can develop a human spacecraft in a rapid and cost effective manner."

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. For more information on NASA's CCiCap Program, please visit: http://www.nasa.gov/home/hqnews/2012/aug/HQ_12-263_CCiCAP_Awards.html.

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's Space Systems has concluded over 70 programs for NASA and over 50 other clients.

MEDIA CONTACT: media.ssg@sncorp.com or 720-407-3192

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.

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 on the commercial sector through internal advancements 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.

 MEDIA CONTACT: generalinfo@sncorp.com or 775-331-0222