Simula Leverages Strategic Partnerships and Licenses To Grow Defense Group

    TEMPE, Ariz.--Jan. 16, 2003--Simula, Inc. (AMEX: SMU) announced today that its Defense Group completed 14 strategic partnership agreements and technology licenses during the past eight months. Agreements include joint marketing and development agreements, exclusive supply agreements, and licensing of technology both into and out of Simula. The record number of agreements for the Company is a direct result of a strategy to leverage Simula technical capabilities with partners who have greater market access or manufacturing resources.
    The strategic alliance approach to growth reduces costs and risks, the Company said. "We are pleased with the success in executing a key growth strategy," said Joe Coltman, Executive Vice President and Chief Development Officer. "These strategic partnerships and licenses give us a way to leverage our technology and gain worldwide market access."
    Eight joint marketing and development agreements signed with major foreign corporations are expected to open international markets for Simula's proprietary body armor, vehicle armor, boat armor and parachutes in Europe and the Middle East.
    Under two agreements the Company licensed technology into its Defense Group for a new aircraft airbag technology, protective body garments, and body-worn sensors.
    Under four agreements Simula was also successful in licensing out technology for certain body armor, visor, and gas mask applications.
    The Company indicated that all three of its Defense Group business units, Personnel Safety, Land and Marine Safety, and Aircraft Safety, are expected to see economic impact from the agreements in 2003.
    Simula said it will announce the specific agreements and partners over the next several months as revenue generating activities commence.
    Simula designs and makes systems and devices that save human lives. Its core markets are aviation safety, personnel safety, and military ground 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 market opportunities and orders. Risks to the Company's business include those described herein and in the Company's registration statements and 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 circumstances occurring after the date on which such statements are made.