Elbit Systems to Supply an Asian Army With Advanced Tactical Training Systems for $32.7 Million

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May 17, 2011, 03:29 ET

HAIFA, Israel, May 17, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems"), announced today that it was awarded a contract valued at $32.7 million to supply an Asian army with advanced training systems for its armor and infantry forces. The project will be performed over the next three years.

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The project comprises driving simulators for various armored vehicles (tracked and wheeled), and an advanced gunnery and tactical simulator. The flexibility of the solution allows training from the individual soldier's level to tactical teams and even higher hierarchies. The trainees also can configure the training session to match any combat scenario. To maximize its cost effectiveness, the system is designed to reuse as much of the components as possible by applying a "roll in roll out" concept to both the gunnery as well as the driving simulators. The users are therefore able to reconfigure the systems with any combination of turrets they desire. Additional unique capabilities include a smart scenario generator and large training areas at extremely high resolution for both open and urban terrains.

Yoram Shmuely, Co-General Manager of Elbit Systems' Aerospace Division, said: "This is a follow-on contract to a previous project that was successfully delivered to this customer, attesting to the satisfaction and belief in our advanced training and simulation capabilities. This award reinforces Elbit Systems' position as a world leading supplier of advanced training systems."

Elbit Systems is the leading supplier of training solutions in Israel and worldwide and has a leading position as a proven supplier of live, virtual and constructive (LVC) solution. Furthermore, Elbit Systems has fielded joint training solutions that enable its customers to conduct training of collaboration between different services (Land, Naval and Air).

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:                       IR Contact:

    Joseph Gaspar, Executive VP & CFO      Ehud Helft
    Tel: +972-4-8316663                    Kenny Green
    [email protected]              CCG Investor Relations
                                           Tel: +1-646-201-9246
    Dalia Rosen, VP, Head of Corporate     e-mail: [email protected]
    Communications
    Tel: +972-4-8316784
    [email protected]
    Elbit Systems Ltd.

SOURCE Elbit Systems Ltd