Simula Names Jack A. Henry to Board of Directors

    PHOENIX--March 7, 2001--Simula, Inc. (AMEX: SMU) announced today the appointment of Jack A. Henry to the Company's Board of Directors. Mr. Henry, age 57, retired in 2000 as Managing Partner of the Arizona office of the international accounting firm, Arthur Andersen & Co. Mr. Henry began his career with Arthur Andersen & Co. in 1966 and held positions in the Detroit, San Jose, and Seattle offices. Mr. Henry holds a BA and MBA from the University of Michigan.
    Mr. Henry was elected to the Audit Committee and the Nominating and Corporate Governance Committee of the Board of Directors, and will serve as Chairman of the Audit Committee.
    "Simula is a Company with tremendous opportunities and I believe it is well positioned to make an economic turnaround. I am pleased by my selection, and I look forward to working with the Board and management," said Henry.
    Mr. Henry has served on a number of corporate boards including Harris Trust Bank of Arizona and in a variety of community positions including most recently as chairman of the Arizona Chamber of Commerce from 1999 to 2000, and chairman of Greater Phoenix Leadership from 2000 to 2001.
    Brad Forst, President and CEO, said, "Jack is the first of an anticipated number of appointments of new Directors. As part of the management change at the Company we are committed to building an independent Board of individuals with solid business backgrounds."
    "We are pleased to have Jack join our Board. The Company is at an important point in its rebuilding. Further, since the issuance of the new Audit Committee rules, we have been actively looking for qualified candidates to chair our Audit Committee. We will benefit from Jack's expertise and experience in this position," Forst added.
    Simula 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 can be found at www.simula.com.