SpaceWorks Engineering, Inc. (SEI) Announces Company Reorganization and Formation of New Divisions

Atlanta, March 17, 2008 — Aerospace engineering concept development firm SpaceWorks Engineering, Inc. (SEI) has reorganized and realigned its business areas to better meet the needs of its customers and to explore emerging new business opportunities. Effective today, SEI will be organized and operate as three independent business divisions: SpaceWorks Engineering, SpaceWorks Commercial, and SpaceWorks Software. Concurrently, the main SpaceWorks website will act as a portal to each of these divisions.

SEI’s Engineering division (operating under the name SpaceWorks Engineering) will continue to serve the needs of SEI’s core customers in the U.S. civil and military space sectors, including both government and prime contractor clients. SpaceWorks Engineering provides analysis and design services, technology assessment studies, concept development analyses, and design integration solutions to these clients. SpaceWorks Engineering’s clients include NASA, the U.S. Air Force, DARPA, and traditional commercial prime contractor industrial companies. Dr. John E. Bradford will serve as President of SpaceWorks Engineering. SpaceWorks Engineering consists of three primary operating groups: The Advanced Concepts Group (ACG), the Engineering Economics Group (EEG), and the Space Media Group (SMG).

The goal of SEI’s new Commercial division (operating under the name SpaceWorks Commercial) will be to advance innovative ideas, solutions, and partnerships aimed at maturing near and far term commercial space ventures.  SpaceWorks Commercial will be working to facilitate both existing and new entrepreneurial, privately financed companies. This division will also work to develop competitive space prizes and international space partnerships. Mr. A.C. Charania has been named as President of SpaceWorks Commercial. Formerly Senior Futurist at SpaceWorks Engineering, Inc. (SEI), Mr. Charania has been an advocate of commercial space markets, venture-driven space initiatives, and international space activities. He has been with SEI since 2000.

“There are multiple, new commercial outer space ventures, yet how do we sustain this entrepreneurial momentum and how can we develop new value-added ventures?” said Mr. A.C. Charania, President of SpaceWorks Commercial. “We need better analysis of space supply and demand as well as exceptional management of future ventures in order to achieve any level of success. SpaceWorks Commercial is here to analyze, assist, market, and manage new space ventures. In terms of consulting, SpaceWorks Commercial will provide both strategic top-level thinking as well as tactical analysis of specific space markets such as high speed global point-to-point access, small payload space delivery, space tourism, and space solar power (to name a few). With our sister division, SpaceWorks Engineering, we have access to world-class aerospace design services and space experts. In addition, we will soon announce a series of partnerships and associations where SpaceWorks Commercial will engage with others to help develop space related ventures. I look with great hope and anticipation towards a future where SpaceWorks Commercial will take new entrepreneurial ideas to the next level, from mere ideas to profitable corporations.”

SEI’s new Software division (operating under the name SpaceWorks Software) has been created to market and promote SEI’s engineering software products. Initially, SpaceWorks Software will market six space systems engineering software products: REDTOP, REDTOP-2, Bullseye, Remix, TraGE-X, and Sentry. SpaceWorks Software’s products are niche products designed for aerospace engineers, systems analysis, and private individuals conducting conceptual and preliminary design studies related to future space systems.

REDTOP and REDTOP-2 are liquid rocket engine propulsion performance analysis tools. Bullseye is a fast-acting interplanetary trajectory optimization tool. Sentry is a thermal protection system (TPS) sizing and selection tool. Remix and TraGE-X are designed to work with third-party cost and virtual global products, respectively, to enhance their utility for aerospace concept development. Remix is a automated wrapper that enables users of the NAFCOM cost estimating tool to integrate their cost models into Phoenix Integration’s ModelCenter© environment. TraGE-X provides translation capability between common Earth-to-Orbit trajectory optimization tools and the Google Earth geography visualizer. Dr. John Bradford will serve as acting President of SpaceWorks Software. A national search is currently underway to fill the position of Director of Sales and Marketing for SpaceWorks Software.

“Over the last few years, our business areas have grown into these three related but still distinct sectors: Engineering, Commercial, and Software,” said Dr. John R. Olds, CEO of SEI. "We felt the timing was right for us to realign our business to be consistent with our current and emerging customer bases. A high priority for us was to protect our traditional customer base in the Engineering division. Engineering has provided the bulk of our business over the past several years. At the same time, we recognize the potential growth in the emerging private space sector and wanted to position our brand to serve the entrepreneurial community both in the U.S. and internationally. SpaceWorks Commercial addresses this new market. In terms of software, we have been active in the specialty aerospace engineering software business since 2002, but we intend to increase the resources we’re dedicating to that area. Our new SpaceWorks Software division is intended to give our software business line the visibility to grow and increase market penetration.”

For more information on SEI’s new corporate organization, visit www.sei.aero

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About SpaceWorks Engineering, Inc. (SEI)
SEI specializes in providing unbiased, independent assessment of advanced space systems, emerging technologies, and space infrastructure concepts for government and commercial clients. SEI also develops engineering disciplinary analysis tools and software enhancements for collaborative design frameworks. SEI is a privately held Georgia S-corporation and a registered small business. (www.sei.aero)

Contact:
Dr. John R. Olds
CEO
SpaceWorks Engineering, Inc. (SEI)
1200 Ashwood Parkway, Suite 506
Atlanta, GA 30338 USA
1+770.379.8002 (Direct)
1+770.379.8001 (Fax)
john.olds@sei.aero

Contact:
Mr. A.C Charania
President
SpaceWorks Commercial
1200 Ashwood Parkway, Suite 506
Atlanta, GA 30338 USA
1+770.379.8006 (Direct)
1+770.379.8001 (Fax)
ac@sei.aero