Article: Simula Announces Agreement for Sale of Automotive Safety Division.

Business Editors/Automotive Writers/High-Tech Writers

TEMPE, Ariz. & PARIS--(BUSINESS WIRE)--June 16, 2003

Simula Inc. (AMEX:SMU) and The Zodiac Group (SRD:12568) announced today that Zodiac will acquire Simula Automotive Safety Devices, Inc. ("ASD"). Under the definitive agreement, Zodiac will purchase substantially all of the assets and assume certain liabilities of ASD. The purchase price is $14.3 million subject to customary post-closing net asset value adjustment and escrows.

Simula has operated ASD since 1996. The division currently has 175 employees with operations in Tempe, Arizona and Ashington, England. Zodiac had 2002 revenues of ...

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