Elbit Systems U.S. Subsidiary Awarded $9.6M Contract to Provide Laser Target Designator and Marker to the United States Marine Corps

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Mar 28, 2011, 04:15 ET

HAIFA, Israel, March 28, 2011 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) announced today that its wholly-owned U.S. subsidiary, Elbit Systems of America, was awarded a $9.6 million contract by the United States Marine Corps System Command at Quantico Marine Base, Virginia to build the Joint Terminal Attack Controller Laser Target Designator (JTAC LTD). The project will be performed over a period of one year time, including production of the units, supplying spares, and conducting training. The contract also contains options for logistics support, which if exercised, will bring its value to $10.8 million.

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The JTAC LTD is a very lightweight, battery-powered laser target designator and marker. It is small enough to be carried by foot-mobile Marines, enabling Marines to designate targets for laser-guided munitions. The JTAC LTD incorporates Elbit Systems' high performance miniaturized Rattler designator, currently in full scale production and implemented to date on numerous airborne and ground based programs. The JTAC LTD also provides target hand-off to aircraft Laser Spot Trackers. The system incorporates the latest advances in laser generation and battery power technologies. The JTAC LTD features a high power near infrared laser pointer for targeting operations during nighttime conditions.

Elbit Systems of America President and CEO, Raanan Horowitz commented, "Elbit Systems of America is pleased to provide the Marines with this tactical capability, based on significant investment in advanced miniaturized laser technologies and a deep understanding of the operational requirements and to again have the confidence of the United States Marine Corps placed in us. This award is evidence of our proven ability to put life-saving, precision instruments in the hands of those on the frontlines."

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]

SOURCE Elbit Systems Ltd