Elbit Systems to Supply Mortars to the Spanish Army

News provided by

Oct 31, 2011, 04:07 ET

HAIFA, Israel, October 31, 2011 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today that it has won contract to supply mortars to the Spanish Army. The project, valued at $8.5 million, will be implemented over a 12-month period.

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

The Spanish Army's decision to equip its forces with mortars provided by Elbit Systems was made after a series of successful tests in both Spain and in Israel.

Elbit Systems will be the lead contractor for the project, which will include the installation of CARDOM autonomous recoil 81mm mortars mounted on the back of VAMTAC 4x4 vehicles produced in Spain by UROVESA and with the participation of local industries.

Bezhalel (Butzi) Machlis, Elbit Systems Land and C⁴I Division's General Manager, noted: "We are very proud of the Spanish Army's decision to acquire our mortars, following advanced armies like the Israel Defense Forces, the U.S. Army and others." Machlis added: "The selection attests to Elbit Systems' leadership in the field of advanced mortars and we hope, in light of Spain's important role in Europe and within NATO, that other armies will also acquire mortars produced by Elbit Systems."

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:

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.

IR Contact:

Ehud Helft
Kenny Green
CCG Investor Relations
Tel: +1-646-201-9246
[email protected]