Elbit Systems Awarded Approximately $30 Million in Contracts to Provide Observation Systems to a European Country

The systems will serve all levels of army commands, from the dismounted soldier to the headquarters command

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Jul 20, 2016, 02:32 ET

HAIFA, Israel, July 20, 2016 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded contracts, in a total amount of approximately $30 million, to supply advanced thermal-imaging observation systems to a country in Europe. The systems will serve all army command levels, from the dismounted soldier to the headquarters command and will be supplied over a one-year period.

Among the systems provided are Long View CR ("LVCR") observation systems- (dismounted soldier long-range observation systems that are well suited for target acquisition with day and night capabilities), LOROSS^[^TM^] systems- (fixed installation long-range observation systems) and XACT observation systems for the dismounted soldier applications.

"Observation systems are a vital component of the Intelligence, Surveillance and Reconnaissance ("ISR") field. They enable day and night operations under all weather conditions. We are proud to have won these contracts, reaffirming Elbit Systems' position as one of the leading providers of advanced ISR solutions, which are highly adaptable to the needs of the contemporary battlefield", commented Elad Aharonson, the General Manager of Elbit Systems ISTAR Division.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

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This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

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Contacts:

Company Contact:
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Tel: +972-4-8316663
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Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
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Elbit Systems Ltd.

IR Contact:
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Kenny Green
GK Investor Relations
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