Simula Teams on Lightweight Armor for the U.S. Army's New Stryker Interim Armored Vehicle

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    TEMPE, Ariz.--Sept. 24, 2002--Simula, Inc. (AMEX:SMU), announced that it is part of a team supplying lightweight ceramic/composite armor for the first brigade of the U.S. Army's new Stryker Interim Armored Vehicle (IAV). Simula's initial order is for assembly of approximately 15 percent of each vehicle armor kit for the Stryker vehicles. The initial order for the first brigade is comprised of approximately 400 vehicles.
    The armor team is led by IBD/Deisenroth Engineering, Lohmar, Germany. Simula is the exclusive U.S. licensee for IBD's vehicle armor, which is sold under the Mexas(R) trade name. Simula's initial minimum delivery order is valued at approximately $1.2 million and will be completed in 2002. Production plans between IBD and the Company call for substantially greater kit content beyond the minimum, for the first brigade to be produced at Simula's armor facility. The Company has installed the infrastructure, tooling and equipment necessary to support the Stryker production rate for the current purchase order and for future additional content.
    The Stryker will be produced in 10 variants including infantry carrier, reconnaissance vehicle, and mobile gun system. The Army has announced plans to procure up to 7 brigades totaling 2,131 Stryker vehicles. The Stryker program has a total projected value of approximately $4 billion.
    The vehicle is being built by a joint venture of General Motors Defense and General Dynamics Land Systems. The Stryker is a lightweight, rapidly deployable, eight-wheeled armored vehicle that combines firepower, battlefield mobility, versatility, and enhanced survivability.
    "We are very excited that we have been selected to bring advanced, state-of-the-art armor protection to the next generation armor vehicle for our troops," said Brad Forst, Simula President and CEO. "This is a very important element of our growing vehicle armor business."
    U.S. Army Chief of Staff General Eric K. Shinseki has stated, "This vehicle will give the Army that early strike capability with greater staying power that we need in terms of tactical battlefield mobility, mounted weapons platform, and assault guns...Our soldiers will be more capable and better protected for today's -- and tomorrow's -- crises."
    General Motors Defense is the military vehicle division of General Motors, and is headquartered in London, Ontario. General Motors has been producing military vehicles for over 80 years, and currently manufactures several types of tactical support vehicles in addition to the Stryker IAV. For information on General Motors' military vehicle programs, go to www.gmmilitary.com.
    General Dynamics Land Systems is a wholly owned subsidiary of General Dynamics . General Dynamics is headquartered in Falls Church, Virginia. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems. More information about General Dynamics Land Systems can be found on the Internet at www.gdls.com.
    Simula designs and manufactures 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 lightweight transparent and opaque armor products, energy-absorbing seating systems, inflatable restraints, advanced polymer materials, personnel protective equipment and emergency bailout parachutes. For more information, go to www.simula.com.