SOURCE: E' Prime Aerospace Corporation

November 05, 2007 09:00 ET

E'Prime Aerospace Corporation Receives Launch Site Policy Review Approval

FALLS CHURCH, VA--(Marketwire - November 5, 2007) - E'Prime Aerospace Corporation (PINKSHEETS: EPEO), today announced the Federal Aviation Administration (FAA/AST) has completed the interagency portion of the policy review for E'Prime's launch site license application A-07-EPA-121. Furthermore, the Departments of Defense, and State, and NASA cited no issues, including START Treaty compliance, associated with E'Prime's proposed canister launch program that would adversely impact U.S. National Security or Foreign Policy interests. This determination finally removes all restrictions imposed by the START Treaty based on design parameters to be used in the manufacture of E'Prime's largest motor designated the ESM-9 which was previously prohibited from use by the START Treaty.

E'Prime began discussions, regarding 'START I: Annex J to the MOU,' with the Air Force Compliance Review Group (CRG) in March 2007. After completing six months of meetings and preparation of significant documentation, E'Prime entered the licensing process in August 2007 in which the 'Policy Review' was submitted in accordance to the requirements described in 14 CFR Part 420.15(a)(3). That documentation was reviewed by DoD Treaty Compliance Review Group, National Aeronautics and Space Administration (NASA), Department of State and FAA/AST resulting in policy approval.

"The FAA reviews a launch site license application to determine whether it presents any issues affecting U.S. national security or foreign policy interests, or international obligations of the United States. A major element of the policy review is the interagency review of the proposal. An interagency review allows Government agencies to examine the proposed operation from their unique perspectives. The FAA consults with the Department of Defense, the Department of State, and other federal agencies such as the National Aeronautics and Space Administration that are authorized to address national security, foreign policy, or international obligation issues."

"After a great deal of effort working with the various responsible agencies, we are pleased with the outcome of the FAA/AST 'Policy Review.' As a result of the recent interplay, E'Prime is now positively engaged with the Air Force and intends to develop, in cooperation, a cost effective launch program that will be fully responsive to the AF needs while simultaneously satisfying the commercial marketplace's need for an affordable, safe, and accurate launch program," stated Darron C. Purifoy, VP Operations and Government Affairs (Washington DC).

"With our successful completion of the Policy Review Process, we can continue the licensing process and are now better able to obtain the funding necessary to fuel the development of the E'Prime Expendable Launch Vehicle Program," stated E'Prime President, James D. Oldham III.

About E'Prime Aerospace Corporation:

Securing unique and proprietary technology derived from the Peacekeeper Missile System, E'Prime Aerospace Corporation obtains a leading industry position implementing the most accurate, efficient, reliable and cost effective launch program available worldwide. These vehicles will provide a reliable cost-competitive alternative to E'Prime's liquid fueled competitors. The 'E'Prime Canister Launch Program' will prove to be the most powerful rapid deployable launch vehicle program in the world, with the capability of launching multiple payloads in a very short period of time.

About Federal Aviation Administration (FAA/AST):

The Office of Commercial Space Transportation (AST) is the only space-related line of business within the Federal Aviation Administration (FAA). AST was established in 1984 as the Office of Commercial Space Transportation (OCST) in the Office of the Secretary of Transportation within the Department of Transportation. AST was transferred to the FAA in November 1995. The Office of Commercial Space Transportation: Regulates the commercial space transportation industry, to ensure compliance with international obligations of the United States and to protect the public health and safety, safety of property, and national security and foreign policy interests of the United States; Encourages, facilitates, and promotes commercial space launches and reentries by the private sector; Recommends appropriate changes in Federal statutes, treaties, regulations, policies, plans, and procedures; and Facilitates the strengthening and expansion of the United States space transportation infrastructure.

E'Prime Aerospace Inc., (PINKSHEETS: EPEO) -- Cautionary Note Regarding Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the federal securities laws. Such statements are based on current expectations and involve a number of known and unknown risk and uncertainties that could cause E'Prime's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include: combination of additional debt and primary equity financing and to successful completion of the remaining research and development of its launch technology, determination and implementation of its overall marketing strategy and establishing a viable schedule for the testing and ultimate launchings of commercial payloads, as well as other factors that are discussed in E'Prime's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and E'Prime undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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