Elbit Systems to Supply a European Country With Communication Systems for EUR17.7 Million

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Dec 06, 2010, 04:14 ET

HAIFA, Israel, December 6, 2010 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) announced today that it was awarded a contract valued at EUR17.7 million to provide a European Ministry of Defense with advanced tactical communication systems to be delivered during 2011- 2012.

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The communication systems to be delivered under the contract are Tadiran CNR 9000 and Tadiran HF 6000. These tactical radio systems offer voice and high data rate transfer and are considered the industry's leading technology.

Bezhalel (Butzi) Machlis, General Manager of Elbit Systems Land and C4I-Tadiran, noted: "This is a follow-on contract, attesting to the customers' satisfaction with both the operational aspects and technical performance of our products." Machlis added: "We hope this contract will be followed by other contracts from this customer, as well as other NATO countries and will further strengthen our position as a leading supplier of innovative systems worldwide."

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.

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.

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

    Company Contact:                        IR Contact:
    Joseph Gaspar, Executive VP & CFO       Ehud Helft / Kenny Green
    Dalia Rosen, VP & Head of Corporate     CCG Investor Relations
    Communications                          Tel: +1-646-201-9246
    Elbit Systems Ltd                       E-mail:[email protected]
    Tel: +972-4-8316663
    Fax: +972-4-8316944
    E-mail: [email protected]
    [email protected]

SOURCE Elbit Systems Ltd