BRSI Ballistic Recovery Systems Inc (CE)

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.