Simula Awarded Multi-Year C-17 Troopseat Program; New Sole-Source Contract with Boeing Valued at $22.3 Million.

Business Editors

TEMPE, Ariz.--(BUSINESS WIRE)--March 19, 2003

Simula Inc. (AMEX:SMU), announced that it has been awarded a four-year contract valued at $22.3 million with The Boeing Company to manufacture troopseats for the U.S. Air Force's C-17 Globemaster III military transport aircraft for the next four years of aircraft production. The contract also includes a variable quantity (VQ) option that allows Boeing to order additional shipsets to meet urgent orders. Simula has been the sole provider of troopseats for the C-17 since its introduction into the Air Force's airlift fleet in 1993.

"This new multi-year contract further solidifies the Company's presence in the military aircraft troopseat arena, which complements our flagship product line of crashworthy crew seats for military helicopters," said Brad Forst, President and CEO.

Simula supplies Boeing with the centerline and sidewall troopseats for the C-17. Each shipset of troopseats is composed of 54 of the one-place sidewall-mounted seats and 8 of the six-place floor-mounted centerline seats, for a total of 102 seats per aircraft.

In August of 2002, the Air Force announced additional procurement for the C-17, increasing the total order of aircraft from 120 to 180, with current production going through 2007. In November 2002, Boeing delivered its 100th C-17 to the Air Force, and has been producing 15 of the advanced airlifters per year.

In addition to the C-17 design, Simula has introduced other new lightweight, comfortable troopseats for military aircraft. In July 2002, the Company announced successful qualification testing of its new crashworthy Wall-Mounted Troopseat designed for active-duty U.S. Air Force, Air National Guard, and Air Force Reserve C-130, KC-135, and C-141 transport aircraft. Simula received a U.S. Air Force "Safe-to-Fly" designation and National Stock Numbers for the troopseat, which offers significant advantages over other existing seat designs in terms of crash safety, durability, comfort, and, most significantly, its adaptability to the various existing types of aircraft in the U.S. military's inventory.

Simula designs and makes systems and devices that save human lives. Its core markets are military aviation safety, military personnel safety, and land and marine 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 Government contract awards, contract performance, and revenues. Actual results may differ materially from those projected. Risks include those described herein, in the Company's press releases, and in the Company's periodic reports filed with the U.S. Securities and Exchange Commission.