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Thu, Feb 24, 2005

BRS Gets Another Equity Purchase From Cirrus Design

Total Ownership: 15.3 Percent

Ballistic Recovery Systems Wednesday reported Cirrus Design has exercised its options on an additional 650,000 shares of BRS stock, brining its total ownership to 15.3-percent. This makes Cirrus the second largest BRS shareholder.

This is the last of four sets of options granted under a volume purchasing contract signed September 17, 1999. The option was triggered last Fiscal year when sales to Cirrus exceeded its original contract goal. Bob Nelson, Chairman of the Board and BRS Chief Executive Officer, said," Cirrus sales results have shown that safety sells. After flying a BRS equipped Cirrus, other planes leave something to be desired, especially for safety conscious passengers who find a great deal of comfort knowing there is a whole parachute system should something go wrong."

According to BRS President & COO, Larry E. Williams, "This investment gives us an implicit commitment and will insure this technology is incorporated into additional Cirrus designs. We remain committed to adapting our proven technology into new aircraft designs. The NASA work completed last September has generated ideas that now need to be commercialized for expansion into next generation aircraft. This investment. Along with solid operating profits, gives us the means to continue to expand the company."

FMI: www.brsparachutes.com, www.cirrusdesign.com

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