Elbit Systems to Supply an Asian Country With Electro-Optical Payloads for Maritime Patrol Aircraft Under Contract Valued at Approximately $20 Million

News provided by

May 18, 2011, 02:50 ET

HAIFA, Israel, May 18, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract to supply an Asian country with dozens of CoMPASS(TM) (Compact Multi Purpose Advanced Stabilized System) payloads for maritime patrol aircraft. The Asian country, which operates one of the largest maritime patrol fleets in the world, has selected the CoMPASS(TM) payload as a solution to protect its coastlines. The contract, valued at approximately $20 million, is scheduled to be completed within two years.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )

The CoMPASS(TM) payload, developed and manufactured by Elbit Systems Electro-optics Elop Ltd. ("Elop"), is already installed onboard hundreds of platforms including Unmanned Aircraft Systems (UAS).

Belonging to the 15-inch payload family, the CoMPASS(TM) includes an advanced thermal imaging system, laser range designator and a day channel, allowing optimal ISTAR (intelligence, surveillance, target acquisition and reconnaissance) capabilities even in adverse weather conditions. The payload, integrated into the aircraft's mission systems, such as the maritime patrol radar and the Command and Control systems, provides the crew with enhanced mission capabilities.

Adi Dar, Elop's General Manager, commented: "We are proud to be selected to perform this project, attesting to the customer's satisfaction with the high quality and performance of our previously supplied systems. Maritime patrol systems, for both airborne and naval applications, play a vital role in protecting the coastal shores of many countries around the world, and we trust that additional countries will follow in selecting our advanced solutions". Dar also noted: "Due to the recent increasing demand, Elop has doubled the quantity of payloads manufactured for integration onboard maritime patrol platforms."

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