Elbit Systems Awarded $33 Million Contract for the Supply of Heli- borne Electro-optical Surveillance Payloads to an Asian-Pacific Customer

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Oct 06, 2013, 04:48 ET

HAIFA, Israel, October 6, 2013 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that its wholly owned subsidiary, Elbit Systems Electro-optics - Elop Ltd. (Elop), was awarded a follow-on contract to supply its advanced Digital CoMPASS^® electro-optical (EP) payload systems to an Asia-Pacific Air Force to be installed onboard Helicopters. The contract will be performed over a three-year period.

Adi Dar, General Manager of Elbit Systems Electro-Optics Elop, commented: "This important follow on program reflects the customer's satisfaction from the systems acquired a number of years ago. Supplying our customers innovative and cutting edge systems, supported by our vast operational experience in electro-optic payload systems, positions us as one of the world's leading EO payloads providers

DCoMPASS^® (Digital Compact Multi Purpose Advanced Stabilized System) is a highly stabilized, low weight, multi-sensor electro-optical (EO) payload system , providing solutions for airborne applications (both fixed and rotary-wing aircraft) as well as for land and naval platforms. Offering cutting edge optical technology for 24/7 observation with cutting edge day and night "ISTAR" capabilities (intelligence, surveillance, target acquisition and reconnaissance), DCoMPASS^® allows optimal use even in the harshest of weather conditions.

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:

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.