Elbit Systems Announces Resignation of Yael Efron, an External Director of the Company's Board of Directors

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Jan 21, 2010, 03:25 ET

HAIFA, Israel, January 21 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (the "Company") announced today that Mrs. Yael Efron, who was elected as an External Director of the Company's Board of Directors in August 2009, has tendered her resignation. Mrs. Efron indicated that the reason for her resignation was her son being advised that he is a candidate for promotion at the law firm of M. Firon & Co., which provides legal services to both the Company and to its major shareholder, and that her resignation was tendered as a measure of caution and to avoid any potential impediment to her son's professional advancement. The Company has accepted Mrs. Efron's resignation under the circumstances and thanked her for her contribution to the Company. The Company intends to promptly proceed with the process of identifying a suitable candidate for the position of External Director for election by a general meeting of shareholders.

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About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related 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 and developing new technologies for defense, homeland security and commercial aviation applications.

For additional information, please visit us at: 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
    Dalia Rosen, Head of Corporate Communications
    Elbit Systems Ltd
    Tel: +972-4-8316663
    Fax: +972-4-8316944
    E-mail: [email protected]
    [email protected]

    IR Contact:
    Ehud Helft / Kenny Green
    G.K. Investor Relations
    Tel: +1-646-201-9246
    E-mail: [email protected]

SOURCE Elbit Systems Ltd