Simula's CEO Interviewed on WallStreetReporter.com

    PHOENIX--Feb. 23, 2001--Simula Inc. (AMEX:SMU) President and CEO Brad Forst conducted an interview with Wahid Tabani of WallStreetReporter.com on Feb. 22, 2001.
    The interview, in which Forst discusses the company's expectations for top- and bottom-line growth, is available at www.wallstreetreporter.com through Wednesday, Feb. 28.
    Among the topics Forst addresses are recent restructuring charges associated with a disciplined program to exit unprofitable businesses, cut costs, and focus on Simula's core competencies, as well as plans to monetize the company's extensive portfolio of proprietary technologies.
    Simula, with headquarters in Phoenix, is a diversified technology company that designs and manufactures occupant safety systems and devices engineered to safeguard human life in a wide range of air, ground and sea transportation vehicles. The company operates in two principal markets that are aligned with its core technologies: aerospace and defense systems, and automotive safety systems. The company's core products and technologies include inflatable restraints, energy-absorbing seating systems, advanced polymer materials, transparent and opaque armor products, personnel protective equipment and parachutes, and crash sensors. Additional information about Simula can be found at its Web site, www.simula.com.

    Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: In the interview, Forst makes 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 revenues, EBITDA and net income in 2001; the likelihood of a material reduction in the company's level and cost of debt; and anticipated top- and bottom-line growth through fiscal 2003. Other factors pertinent to the company's ability to meet its current financial projections include its leveraged status and the level and cost of debt; reduction of fixed expenses; ability to maintain margins or grow volumes in its automotive segment; success in building strategic alliances with large prime contractors and first tier suppliers to OEMs; competition and competitive pressures on pricing including from first tier supplier partners; the cyclical nature of the automobile industry and other markets addressed by the company's products; the level and makeup of military expenditures; amount of resources committed to independent research and development from time to time; contract mix and shifting production and delivery schedules among the company's two business segments; and proof of concept and production validation of certain of the company's new technologies and proposed products. Actual results may differ materially from those projected. Additional risks include those described herein and in the company's registration statements and periodic reports filed with the U.S. Securities and Exchange Commission.