[FPSPACE] MirCorp statement

[Dwayne Allen Day]

MirCorp Announces Results of Board Meeting: New Programs Supported 
Moscow, Amsterdam, December 12, 2000   

A meeting of the MirCorp Ltd. Board
of Directors was held in Moscow last week, and key decisions on the
company's future commercial space activities were taken. 

Due to the Russian government's recent decisions regarding the desire to
end Mir space station operations and to begin its controllable
de-orbiting, the Board took a decision to cease the marketing of theMir
space station. 

Over several days of very open discussions, the Board noted the commercial
success of MirCorp in attracting major customers in tourism and in the
media, and elected to continue the operations of MirCorp as the leading
manned commercial space exploration company. 

Specifically, the Board elected to pursue the following markets: 

--Development and utilization of a man-tended module capable of being
docked to the International Space Station; 
--Commercial utilization of Energia production lines for manufacture of
space transportation vehicles on a commercial basis; and 
--Development of commercial infrastructure to support the International
Space Station, from communication satellites to the tether program. 
The Board determined that where possible, all existing customers will have
their programs fully implemented. 

As a sign of support, the existing investors of Gold & Appel and
Dr. Chirinjeev Kathuria pledged a new round of financing to be completed
within six weeks. This new round  a minimum of $6 million U.S.  will be
used to begin the programs listed above, and to expand the current
management team in order to find new investors. 

The financial investors also announced they have retained the services of
Aon Insurance  leading risk analysts for space and technology ventures  to
work with potential investors in creating a financial structure allowing
investment in our new programs to move forward. 

In the end, the technical situation was too complex to allow the safe
maintenance of both ISS and Mir. By continuing our operations, and
entering into discussions with major investors, we believe the dream
espoused by all of us will flourish.