EX-99.1 2 simulations_8k-ex9901.txt EXHIBIT 99.1 SIMULATIONS PLUS Integrating Science and Software For Further Information: SIMULATIONS PLUS, INC. 42505 10th Street West Lancaster, CA 93534-7059 CONTACT: Investor Relations ------------------ Ms. Renee Bouche Simulations Plus, Inc. 661.723.7723 info@simulations-plus.com For Immediate Release: October 23, 2008 SIMULATIONS PLUS ANNOUNCES SHARE REPURCHASE PROGRAM UP TO $2.5 MILLION OVER 12 MONTHS AUTHORIZED BY BOARD OF DIRECTORS LANCASTER, CA, OCTOBER 23, 2008 - Simulations Plus, Inc. (Nasdaq: SLP), the leading provider of simulation and modeling software for pharmaceutical discovery and development, announced today that its board of directors has authorized a share repurchase program effective Monday, October 27, 2008. Ms. Momoko Beran, chief financial officer of Simulations Plus, said: "The board of directors has authorized a share repurchase program enabling the buyback of up to $2.5 million in shares during a 12-month period beginning Monday, October 27, 2008. Repurchases may be made in the open market, through a broker, or through privately negotiated transactions, subject to market conditions, applicable legal requirements and other factors. Simulations Plus has no obligation to repurchase shares under the repurchase program and the timing, actual number, and price of shares to be purchased will depend on the performance of Simulations Plus' stock price, general market conditions, and various other factors. Such purchases, if any, will be made in accordance with applicable insider trading and other securities laws and regulations within the discretion of management." Walt Woltosz, chairman and chief executive officer of Simulations Plus, added: "At this time, the board believes that the undervaluation of our stock has become so severe, and our accumulation of cash has continued so well, that using some of it for this purpose is warranted, subject to management's discretion and market conditions as Ms. Beran has described. Authorizing this amount is not expected to interfere with potential acquisitions or with meeting operating requirements, which the board believes are of utmost priority." 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. We have two other businesses that are based on our proprietary technologies: a wholly owned subsidiary, Words+, Inc., which provides assistive technologies to persons with disabilities; and an educational software series for science students in middle and high schools known as FutureLab(TM). 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 maintain its competitive advantage, the general economics of the pharmaceutical industry, the ability of the Company to finance growth, 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. ###