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Simula Transparent Polymer Licensed for Protective Helmet Visors

    TEMPE, Ariz.--Dec. 10, 2002--Simula Inc. (AMEX:SMU) announced today that it completed a licensing transaction for its Cleargard(R) transparent polymer for use in motorcycle, racecar, and other sports helmet visors. The fully paid, up-front license fee was $750,000. For customer and competitive reasons Simula declined to announce the name of the licensee and further license details of the license pending market introduction by that company. Simula noted that this transaction represented the single largest up-front licensing fee negotiated since it began aggressively monetizing its patent portfolio in 2000.
    Simula has previously announced two other licenses to third parties for its Cleargard polymer in corrective eyewear and sunglass lenses. The Company expects to retain the technology in its core markets and continues to commercialize the transparent polymer in military and homeland security applications such as vehicle armor and airline cockpit door windows.
    The Company also announced that it is utilizing the services of a team comprised of Ernst & Young LLP and the ICM Group to assist in capturing value from its intellectual property. The activities initially focus on maximizing near-term value of Cleargard polymer technology through broader opportunities to license or sell the technology outside of Simula's core business areas. Applications for the transparent polymer range from architectural security to electronic displays.
    Ernst & Young LLP Assurance and Advisory Business Services Group, Chicago, Illinois, specializes in intellectual asset management including technology valuation and licensing/sale transactions. The ICM Group based in Palo Alto, California, is a consulting firm specializing in the extraction and realization of value from technological innovation. It offers a wide variety of support to firms seeking to efficiently convert technologies into profits. ICMG offers alternative IP value realization approaches as well as assistance with a broad range of IP and technology transactions. Additional information on Ernst & Young LLP can be found at www.ey.com and the ICM Group at www.icmgroup.com
    Simula designs and makes systems and devices that save human lives. Its core markets are military aviation safety, military personnel safety, and land vehicle safety. Simula's core technologies include inflatable restraints, energy-absorbing seating systems, advanced polymer materials, lightweight transparent and opaque armor products, personnel protective equipment and emergency bailout parachutes. For more information, go to www.simula.com.

    Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements that involve risks and uncertainties that may cause the Company's actual experience to differ materially from that which is anticipated. These forward-looking statements include statements about expected commercial use of the transparent polymer and the suitability of the use of Cleargard in various applications. Risks to its business include those described herein and in the Company's periodic reports filed with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements to reflect unanticipated events or events or circumstances occurring after the date on which such statements are made.