EXHIBIT 99.01


                 SIMULATIONS PLUS ANNOUNCES REVENUES FOR FOURTH
                             QUARTER AND FISCAL YEAR

    PHARMACEUTICAL SALES STRONG - WORDS+ SUBSIDIARY RETURNED TO PROFITABILITY

         LANCASTER, CA, SEPTEMBER 9, 2004 - Simulations Plus, Inc. (AMEX: SLP),
the leading provider of ADME absorption simulation and neural net
structure-to-property prediction software for pharmaceutical discovery and
development, today reported preliminary revenues and estimated earnings for the
fiscal fourth quarter and fiscal year ended August 31, 2004.

         Momoko Beran, chief financial officer of Simulations Plus, said: "Our
preliminary pharmaceutical software and services revenues were $868,000 for the
fourth quarter compared to $1,403,000 for the fourth fiscal quarter of 2003
(which included a large multi-year software license of over $1 million), and for
the fiscal year, $2,856,000, compared to $3,106,000 for fiscal 2003. Performance
in our Words+ subsidiary improved, reporting preliminary revenues of $599,000
and a return to profitability, indicating that our restructuring has achieved
the desired effect. Total revenues were $1,467,000 for the fourth quarter
compared to last year's fourth quarter of $2,026,000 which included the $1
million plus order. Total preliminary revenues for the 2004 fiscal year were
$5,208,000, compared to $5,485,000 in fiscal 2003."

         Ms. Beran continued, "Based on the information we have right now, we
expect fourth quarter earnings to be between $0.11 and $0.13 per diluted share,
and for the fiscal year, between $0.16 and $0.19 per diluted share. The company
is financially strong, with zero debt and a good cash position." Ms. Beran also
announced, "This release of preliminary revenues and earnings is the last one we
will do. From now on, in order to reduce the redundancy in our reporting and
filing requirements, we will follow the practice of most other companies and
provide information when the 10Q and 10K reports are filed."

         Walt Woltosz, chairman and chief executive officer of Simulations Plus,
commented: "This quarter saw substantial growth in our core pharmaceutical
software and services business without the benefit of a large multi-site global
license award we had expected from a current customer. We continue to believe
that this customer is in the process of receiving the requisite multi-layer
internal approvals for completion in the near future. It's important to note
that we're increasing the pharmaceutical software and services business base
with a larger number of smaller customers, and that should continue to add to
our recurring revenues with our annual license business model. We've maintained
steady growth, growing profitability, and made significant expansions to our
product line this year. Our new product development activities are on track and
we expect release of both DDDPlus and MembranePlus before the end of the
calendar year. This will increase the number of core products from three to
five. Feedback from potential customers who have seen previews of these new
tools has been encouraging."

         Woltosz continued: "In addition to our software, Simulations Plus
continues to enjoy a reputation for world-class expertise in oral absorption,
pharmacokinetics, and related areas. In fact, our consulting revenues during
this last quarter exceeded any other quarter, an area of business that we
believe will continue to grow. During the fourth quarter, we received our
largest study contract to date to assist a generic drug company with analyzing
data from two trials that failed to establish bioequivalence for a new generic
formulation. This study, which involved complex data taken from hundreds of
individual doses in both fasted and fed conditions, was a new milestone for us,
and showed that our unique software and expertise is of significant value to the
industry."

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ABOUT SIMULATIONS PLUS, INC.

Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery
and development simulation software, which is licensed to and used in the
conduct of drug research by major pharmaceutical and biotechnology companies
worldwide. The Company has two other businesses, Words+, Inc. and FutureLab(TM),
which are based on its proprietary software technologies. Simulations Plus,
Inc., is headquartered in Southern California and trades on the AMEX under the
symbol "SLP." For more information, visit our Web site at
www.simulations-plus.com.


SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
- With the exception of historical information, the matters discussed in this
press release are forward-looking statements that involve a number of risks and
uncertainties. The actual future results of the Company could differ
significantly from those statements. Factors that could cause or contribute to
such differences include, but are not limited to: the ability of the Company to
book revenues and earnings as it expects for the current quarter, the ability of
the Company to maintain its competitive advantage, the general economics of the
pharmaceutical industry, the ability of the Company to attract and maintain
sufficient scientific and technical staff to sustain its R&D and customer
support functions, and a sustainable market. Further information on the
Company's risk factors is contained in the Company's quarterly and annual
reports as filed with the Securities and Exchange Commission.

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