Elbit Systems Announces Contemplated Private Placement in Israel of Additional Series A Notes

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May 03, 2012, 01:32 ET

HAIFA, Israel, May 3, 2012 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE: ESLT) (the "Company"), announced today that it has agreed with Israeli institutional investors to issue in a private placement up to NIS 92,283,000 par value (approximately $24.4 million) additional Series A Notes (the "Additional Series A Notes") in consideration for an aggregate sum of approximately NIS 94.7 million (approximately $25 million).

If issued, the terms of the Additional Series A Notes will be similar to the terms of the Series A Notes previously issued by the Company in June 2010 and in March 2012, in accordance with the Company's shelf prospectus dated May 18, 2010 (the "Shelf Prospectus") and the shelf offering reports of June 2010 and March 2012, respectively and which are currently traded on the Tel Aviv Stock Exchange Ltd. ("TASE"). The Additional Series A Notes, if issued, will form a single series together with the currently outstanding Series A Notes, thus completing the aggregate par value of Series A Notes issued by the Company to the maximum of NIS 2,000,000,000 available to the Company for Series A Notes pursuant to the Shelf Prospectus.

The issuance of the Additional Series A Notes is subject to the receipt of the approval of the TASE for the listing of the Additional Series A Notes for trade on the TASE.

To the extent issued, the sale and/or transfer of the Additional Series A Notes are subject to the limitations on re-sale of securities set forth in the Israeli Securities Law of 1968 and the regulations promulgated thereunder applicable to private placements.

The Additional Series A Notes, if issued, will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. Persons (as defined in Regulation "S" promulgated under the Securities Act) without registration under the Securities Act or an exemption from the registration requirements of the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, including the Additional Series A Notes.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of 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 ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios.-The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services.

For additional information, visit: http://www.elbitsystems.com.

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.

Contacts:

Company Contact:

Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
[email protected]
Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
[email protected]
Elbit Systems Ltd.
IR Contact:

Ehud Helft
Kenny Green
CCG Investor Relations
Tel: 1-646-201-9246
[email protected]