Astrotech Announces Annual Meeting Of Shareholders

AUSTIN, Texas, March 1, 2011 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq:ASTC), a leading provider of commercial aerospace services, today announced that its Board of Directors has set the date for the Company's Annual Meeting of Shareholders as well as the record date for shareholders eligible to vote at the meeting.

The Annual Shareholders' Meeting will be held on Wednesday, April 20, 2011 at 9:00 a.m. (Central Time) at the Company's Corporate Headquarters, located at 401 Congress Avenue, Suite 1650 in Austin, Texas. Shareholders of record as of the close of business on February 22, 2011 will be eligible to vote at the meeting.

The items of business are:

1)     election of directors;

2)     ratify Ernst & Young LLP as independent auditors;

3)     adoption of the 2011 Stock Incentive Plan; and

4)     reincorporation from Washington state to Delaware.

Additional information about the Annual Meeting is contained in the preliminary proxy statement (SEC Form PRE-14A) filed with the U.S. Securities and Exchange Commission February 28, 2011 and in the proxy materials that will be mailed to Astrotech's shareholders on or about Thursday, March 10, 2011.  

Because many Astrotech shareholders are unable to attend the Annual Meeting, the Board of Directors solicits proxies to give each shareholder an opportunity to vote on all matters scheduled to come before the meeting as set forth in the proxy statement. Voting can be completed by returning the proxy card via mail, by calling 1-866-390-5376 or by going online at www.proxypush.com/ASTC . All proxies must be submitted by 5:00 p.m. (Eastern Time) on April 19, 2011 in order to be counted. 

About Astrotech Corporation

Astrotech Corporation (Nasdaq:ASTC) is a commercial aerospace company that provides spacecraft payload processing and government services, designs and manufactures space hardware, and commercializes space technologies for use on Earth. The Company serves our government and commercial satellite and spacecraft customers with our pre-launch services from our Astrotech Space Operations (ASO) subsidiary and incubates space technology businesses now focusing on two companies: 1 ^st Detect Corporation, which is developing a mini-mass spectrometer first designed for the International Space Station; and Astrogenetix, Inc., which is developing biotech products in space and has recently discovered a potential vaccine candidate for Salmonella. 

The Astrotech Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7456

CONTACT: Scott Haywood
         Corporate Marketing and Communications
         Astrotech Corporation
         512-485-9520
         [e-mail]