Proposed at the Market Offering of Shares of Virgin Galactic Holdings by Vieco 10 Limited

NEW YORK, May 11, 2020 /PRNewswire/ -- Virgin Group ("Virgin"), through its subsidiary Vieco 10 Limited, announced today that it may offer and sell up to 25,000,000 shares of its common stock in Virgin Galactic Holdings, Inc. ("VGH") (NYSE: SPCE) to or through Credit Suisse Securities (USA) LLC as sales agent or principal. VGH filed an amendment to its registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") to register the proposed offering by Vieco 10 Limited.  Sales of the shares of common stock are expected to be made from time to time by means of ordinary brokers' transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. Virgin intends to use any proceeds to support its portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19.

A registration statement relating to these securities and the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

The proposed offering will be made only by means of a prospectus and accompanying prospectus supplement.  A copy of the prospectus and accompanying prospectus supplement relating to the offering may be obtained, when available, from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3^rd Floor, New York, NY 10010, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com. These documents may also be obtained for free by visiting EDGAR on the SEC website at www.sec.gov.