July 17, 2012 at 02:00 AM EDT
SimiGon Wins a Second Contract from Strategic European Customer

SimiGon (“the Company”) (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has entered into a new contract with one of its major European customers for the development of an initial aircraft training program within its SIMbox simulation environment. The Simulation Based Training (‘SBT’) systems will be installed at the end user site and will be the backbone of its new Academic Training Centre (‘ATC’). The value of the contract is US$0.43 million and does not change the Company’s expectations for the year ended 31 December 2012.

This agreement follows on from an initial contract SimiGon signed with this customer in 2009, which was worth over US$2.0 million. Under that program, SimiGon supplied SBT systems for the client’s advanced aircraft pilot training system. The contract announced today is for the initial phase of pilot training and for a different aircraft.

The SBT solution, based on SimiGon's SIMbox simulation and training technology platform, will play an integral role in the customer’s new training center. SIMbox, as the baseline training system, will enable flight cadets to successfully surmount the numerous challenges of learning to operate and fly the aircraft. This is in line with the trend for advanced, highly interactive, cost-effective training solutions that reduce the cost of real flights and flight instructor hours.

SimiGon President and CEO, Ami Vizer, said: "We are excited to have been chosen once again by this key strategic partner. Over the past three years we have successfully demonstrated that our cost effective simulation based training has reduced the need for real flights and flight instructor hours in the air. The selection of SIMbox shows the confidence our partner has in our solutions to replicate this success in its new academy training center. We are fully committed to ensure this happens and grow this important strategic partnership."

Contacts:

SimiGon
Ami Vizer
Chief Executive Officer
or
Efi Manea
Chief Financial Officer
Tel: +1 (407) 737 7722
www.simigon.com
or
finnCap (NOMAD & Broker)
Stuart Andrews / Henrik Persson
Tel: +44 (0) 20 7220 0500
or
Luther Pendragon (Media & Investor Relations)
Harry Chathli / Alexis Gore
Tel: + 44 (0) 207 618 9100
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