Simula Develops New Military and Commercial Armor Products

    TEMPE, Ariz.--Feb. 10, 2003--Simula Inc. (AMEX: SMU), said today that it has successfully completed concept development and testing on three new lightweight armor systems for use in vehicles, ships, aircraft, and building windows. The armor designs are the result of Company-funded programs intended to open new market opportunities. Each of the armor systems will be commercially introduced in 2003, following additional development work.
    Two of the new armor systems make use of a proprietary ceramic technology and advanced composite lamination techniques to fabricate large, complex armor shapes. One system is optimized for small arms threats suitable for military aircraft and light ground vehicles. The second armor system is specifically designed for medium caliber threats encountered by light armored military vehicles.
    The ability to build armor in large, complex shapes provides new options for vehicle integration to improve performance and lower costs. This shaped, or "monolithic" approach substitutes for a more traditional armor design that assembles numerous ceramic tiles cut in pieces and then assembled in shapes. The shaped designs will be commercially introduced in 2003.
    Simula successfully employed the shaped armor technology to capture a new seat design contract for a major military helicopter program announced by the Company on July 24, 2002.
    Simula said its armor development has benefited from technical advances and know-how gained from its very successful Small Arms Protective Insert (SAPI) body armor developed with M-Cubed Technologies of Monroe, CT. Simula pioneered lightweight body armor solutions in 1998 and is today a leading industry supplier.
    Simula has also developed two additional armors for commercial markets. One is based on the Company's patented Cleargard(R) transparent polymer and is designed to stop handgun threats. This armor was recently selected for windows in a government building security installation. The second armor is designed for the same handgun threats, but it employs a proprietary, low-cost fabric construction.
    Advances in vehicle armor are a priority for Simula's newly established Land and Marine Safety Systems business unit. Simula has provided various types of lightweight armor for land vehicles, ships and landing craft since 1990. The Company intends to combine its proprietary transparent polymer armor and newly developed opaque shaped armor as part of a larger ultralight high performance armor product line.
    In addition to military vehicles, the Company has conducted extensive market analysis for armoring government and civilian vehicles including cars, trucks and SUVs. The Company believes the Homeland Security market will provide an excellent opportunity to introduce its new armors. Expertise from the Company's Automotive Safety Devices Group is being used to enhance new techniques for vehicle armor integration.
    The Company noted that it will continue development activity throughout 2003 to fully commercialize the new armor systems.
    Simula designs and makes 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 emergency bailout parachutes, personnel protective equipment, energy-absorbing seating systems, inflatable restraints, advanced polymer materials, and lightweight transparent and opaque armor products. 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 orders, revenues, and profits. Factors pertinent to the Company's recognition of revenue under the licensing agreement includes procurement budgets, selection of Simula's armor for specific programs and qualification to successful development and qualification of Simula's armor systems. 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.