Ballistic Recovery Systems Announces Removal from OTC Bulletin Board

  
    
  
  
    
      Ballistic Recovery Systems, Inc. (BRSI or BRSI.PK), a manufacturer of 
      whole-aircraft emergency parachute systems, announced today that, 
      effective at the opening of business on Wednesday, February 20, 2008, 
      its common stock will be quoted on the “pink 
      sheets” maintained by Pink Sheets LLC. The 
      Company’s common stock was removed from 
      quotation on the Over-the-Counter Bulletin Board (“OTCBB”) 
      as a result of its annual report on Form 10-KSB for the year ended 
      September 30, 2007 having not been filed with the Securities and 
      Exchange Commission (“SEC”).
    
    
      As previously disclosed, the Company is in the process of restating 
      previously issued financial statements for the second and third quarters 
      of 2007, which has resulted in a delay in filing of its Form 10-KSB for 
      such fiscal year. The Company was unable to file its Form 10-KSB for the 
      fiscal year ended September 30, 2007 by February 15, 2008 as originally 
      anticipated, and is currently working with its auditors to complete the 
      restatements of previously issued financial statements and the Form 
      10-KSB. Additionally, the Company is in the process of preparing its 
      Form 10-QSB for the quarter ended December 31, 2007 which was due 
      February 14, 2008.
    
    
      About Ballistic Recovery Systems and Advanced Tactical Fabrication
    
    
      Based in South Saint Paul, Minnesota, BRS designs, manufactures, and 
      distributes whole-aircraft emergency parachute systems for general 
      aviation and recreational aircraft. ATF (or Advanced Tactical 
      Fabrication), a joint venture of BRS and Head Lites Corp (HLC), is a 
      leader in the safety apparel and “cut & sew” 
      industry. Ballistic Recovery Systems is a publicly traded company 
      (BRSI). Since 1981, BRS has delivered more than 28,000 parachute systems 
      to aircraft owners worldwide, including over 3,500 systems on 
      FAA-certificated aircraft such as the Cirrus Design SR20 and SR22 
      manufactured in Duluth, Minnesota. To date, BRS parachute recovery 
      systems have been credited with saving the lives of 209 pilots and 
      passengers.
    
    
      This press release contains forward-looking statements within the 
      meaning of the Private Securities Litigation Reform Act of 1995. These 
      statements are often, but not always, made through the use of words such 
      as “anticipates,” “expects,” 
      “plans,” “believes,” 
      “intends,” and 
      other similar words or phrases. These statements are only predictions, 
      and are based on current information and expectations. Such statements 
      involve a number of risks and uncertainties, including filing the Company’s 
      financial statements as restated or otherwise, additional restatements 
      and accounting adjustments for the same or additional periods. All 
      forward-looking statements are qualified in their entirety by this 
      cautionary statement, and BRS undertakes no obligation to revise or 
      update this press release to reflect events or circumstances after the 
      date hereof.