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The paper describes an approach to Simulation Based Design (SBD) of systems, which combines design models with simulation models. Obviously, a system representation allowing simulation analysis differs from design models and have to be generated or the design formalism has to be extended by special formalism. The presented approach uses formalisms which can be used for system design as well as system analysis. It uses high-level Petri nets, objects and systems-theoretic approach represented by DEVS formalism. The paper outlines the design methodology of SBD based on the formalism and demonstrates a technique of simulation analysis on the simplified example.