Armor Holdings, Inc. Announces New $31.0 Million Contract for Vehicle Armor

JACKSONVILLE, Fla., Feb. 23, 2004 -- Armor Holdings, Inc. , a leading manufacturer and distributor of security products and vehicle armor systems, announced today that it has executed a new contract to provide hard armoring for transport vehicles and HMMWVs.

The Company received a contract from the U.S. Army Tank-Automotive and Armaments Command (TACOM) to supply hard-armoring kits for four types of heavy tactical transport vehicles with initial production totaling over 800 vehicles. Under a separate action by the U.S. Marine Corps Systems Command, the Company also received a contract to produce hard-armor components for 500 HMMWVs. All work on these contracts is expected to be completed in the current year. The Company noted that it expects this new business to represent approximately $31.0 million of revenue incremental to the Company's previous 2004 revenue guidance of $620 to $640 million. The new contracts will be executed partially by O'Gara-Hess & Eisenhardt with the majority of effort to be completed by Simula, Inc., the Company's recently acquired Phoenix based subsidiary.

Robert Schiller, President and Chief Operating Officer of Armor Holdings, Inc., said, "We continue to work hard to provide increased force protection for our military customers. These supplemental armoring systems for both heavy and light tactical vehicles serve to diversify our product line. We have broadened the number of vehicle platforms to include heavy tactical vehicles for which our customers look to Armor Holdings for their armoring solutions."

About Armor Holdings, Inc.

Armor Holdings, Inc. is a diversified manufacturer of branded products for the military, law enforcement, and personnel safety markets. Additional information can be found at www.armorholdings.com.