SimiGon Wins Contract from Belgian Air Force for Air Combat Training

Monday, 18 Dec 2006


HERZLIA, Israel, December 18, 2007 - SimiGon Limited (LSE: SIM) announces that the Belgian Air Force ("BAF") has selected SimiGon's AirBook software for its desktop training programme. SimiGon, in conjunction with Visual Training Solutions Group, Inc. ("VTSG"), will deliver the PC-based training systems, incorporating F-16 Mid-Life Update 4.2 content and targeting pod training functionality, in 2007. The contract will initially generate approximately $350,000 of revenue in 2007 with expected follow-on orders worth more than $600,000 by the end of 2008. The order further enhances visibility of SimiGon's total order backlog for 2007 and 2008 as it increases the probability that the other European Air Forces will follow the Belgian and the Dutch air forces.

AirBook is SimiGon's aviation training software product based on the Company's core product, SIMbox, a highly flexible, PC-based consumer off-the-shelf product providing government and industry partners with enabling technologies for developing flexible training solutions. BAF aircrew will benefit from a multitude of AirBook features while training with the most up-to-date weapons and sensor software simulation. AirBook training benefits include hi-fidelity, 3D simulation; personalized training on demand; After Action Review ("AAR"); and interactive computer-based training courseware. Furthermore, air force instructors and commanders will utilise an advanced Learning Management System ("LMS") to monitor and track individual and group progress, enabling them to provide better training content.

SimiGon President and CEO, Ami Vizer said, "We are excited to work with the Belgian Air Force and look forward to building a long term relationship with them. This win demonstrates the growing realisation within professional communities of the increased training effectiveness that SimiGon's software provides as well as how it can be leveraged to save both time and money." John Clagett, President of VTSG, said, "The benefits of the AirBook software architecture are excellent. Teaming with SimiGon demonstrates the value-add of this technology for the European Air Forces ("EPAF") F-16. We look forward to delivering a superior training device and continuing to scale our architecture with the Belgians and the rest of the EPAF market."

BAF is the second European air force to adopt the SIMbox platform for F16 training. The system is already deployed in the US, Canada, Netherlands, Australia, Israel, Turkey and several other countries.

SimiGon is a fast-growing company with vast experience in providing Modeling, Simulation & Training solutions to customers worldwide. The Company's partners include government and industry leading training and simulation organisations as well as small businesses providing end users with added value content packages based on SIMbox technologies. Contact SimiGon Limited, Haim Yatim, CFO, +972 9 956 1777 Corfin Communications, Harry Chathli or Ben Hunt, +44 (0) 20 7929 8980

First Day of Dealings

Thursday, 02 Nov 2006

SimiGon, a developer and international supplier of e-learning simulation software, announces that the Company's shares have been admitted today to trading on the Alternative Investment Market of the London Stock
Exchange plc ("AIM"). The Company's trading symbol is "SIM".

6,076,811 new ordinary shares have been allocated to institutional investors at a price of 88 pence per share (the "Placing Price"), raising approximately US$10.0m (£5.3m) for the Company before expenses. On admission to AIM a total of 37,250,666 ordinary shares were in issue (on a fully diluted basis) capitalizing the Company at approximately £32.8 million at the Placing Price.

The Company's nominated adviser and broker is Panmure Gordon & Co.

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