Simula Inc. Announces Agreement for Sale of Coach & Car Subsidiary

1 July 1999

Simula Inc. Announces Agreement for Sale of Coach & Car Subsidiary

    PHOENIX--June 30, 1999--Simula Inc. Wednesday announced the signing of a definitive agreement, backed by a nonrefundable earnest-money deposit, for the sale of Coach & Car Equipment Corp., a wholly owned subsidiary engaged in the design and manufacture of seats for rail and mass-transit vehicles.
    The sale price of $10 million includes the assumption of all business liabilities relating to Coach & Car. Funding of the transaction is scheduled for late July.
    Simula is a leader in developing and commercializing protective systems and energy-absorption technologies that safeguard human lives. Products include advanced occupant seating and restraint systems for commercial-airline, military and automotive applications. Additional information may be found at www.simula.com.

    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 anticipated. These forward-looking statements may include projections regarding the terms, conditions and timing of the sale of the company's Coach & Car subsidiary, any one of which could be affected by a wide variety of factors, some of which are beyond the control of the company. Additional factors and risks affecting operating results may be found in the company's registration statements and periodic reports filed with the U.S. Securities and Exchange Commission.