July 27, 2005

THE SPACESHIP COMPANY ANNOUNCED

OSHKOSH, Wisconsin: Today at the EAA Oshkosh air show in Wisconsin, Sir Richard Branson and Burt Rutan announced their signing of an agreement to form The Spaceship Company – jointly owned by Virgin and Scaled. This new aerospace production company will manufacture launch aircraft, spaceships and support equipment and market them to spaceline operators, including the launch customer, Virgin Galactic.

Virgin Galactic has placed orders for five spaceships and two launch aircraft with options on further systems, thus securing the exclusive use of the systems for the initial 18 months of commercial passenger operations. The Spaceship Company plans to make spaceflight affordable for the masses and to demonstrate the commercial viability of manned space exploration. Burt Rutan commented “I am very excited to have agreed terms on which we can now move forward to develop the world’s first commercial, passenger-carrying spaceships”.