Simula Names John S. Hodgson Executive Vice President and Chief Financial Officer

    PHOENIX--Feb. 6, 2002--Simula, Inc. (AMEX:SMU) announced today that John S. ("Jack") Hodgson will join the Company as Executive Vice President and Chief Financial Officer. Mr. Hodgson fills the position vacated in July 2001 in connection with the rebuilding of the management team that began in late 2000.
    Hodgson has over 20 years business experience as a financial executive and CFO in a variety of industries for both private and public companies.
    "Jack brings a breadth of experience in business and an outside perspective which are both key to the future growth of Simula," said Brad Forst, President and CEO of Simula, Inc. "His financial skills are complemented by extensive experience with Wall Street, investor relations, and corporate finance."
    Since June 2000, Hodgson has been Senior Vice President and Chief Financial Officer of FEI Company (NASDAQ), a profitable $400 million semiconductor equipment manufacturer based in Portland, Oregon. Hodgson was CFO of Motion Systems, Inc. a private, Phoenix based business from 1999 to 2000. From 1994 to 1999 he was Vice President and CFO of Integrated Process Equipment (IPEC). During this period IPEC, a NASDAQ company, grew from $31 million to $240 million. IPEC merged with Speedfam, Inc. (NASDAQ) in 1999.
    Hodgson also has held positions with Dover Corporation and American Standard, Inc. He received his B.S. from Manhattan College and MBA from Hofstra University.
    "With the addition of Jack Hodgson as our new CFO, we have completed building an entirely new senior executive team at Simula. I know he will be a vital contributor to our success. His Wall Street skills will be especially valuable in the next stages of our growth," said Forst.

    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.