SPACEHAB Incorporated, (NASDAQ: SPAB), a provider of commercial space services, today announced that the Company has established a $6 million credit facility with Green Bank, N.A. The new financing facility is part of the Company's ongoing financial restructuring strategy providing capital as SPACEHAB pursues its new business opportunities as well as improving overall liquidity.

The new facility provides for a 3-year $4.0 million term loan and a $2.0 million revolving credit facility. The Company is subject to various financial and other covenants based upon its Astrotech Space Operations subsidiary. The funds are available to SPACEHAB and its subsidiaries for new business initiatives and general corporate purposes.

Green Bank is a wholly-owned subsidiary of Green Bancorp, Inc. The bank currently has assets of $235 million and operates three branches in Houston and one in Austin. Green Bank embraces innovative technology while consciously promoting environmental responsibility.

About SPACEHAB, Incorporated

SPACEHAB is a commercial leader and entrepreneurial force in the space industry providing a full spectrum of products and services to both the government and private sectors. The Company offers space access and payload integration services, production of valuable commercial products in space, spacecraft pre-launch processing facilities and services, development and extension of space-based products to the consumer market, and program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.