General (USMC Ret.) Robert Magnus Elected as Chairman of the Board of Directors of Elbit Systems of America

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Jun 27, 2011, 09:41 ET

FORT WORTH, Texas, June 27, 2011 /PRNewswire/ --

Elbit Systems of America, LLC, a wholly-owned subsidiary of Elbit Systems Ltd., has announced that its Board of Directors has elected General (USMC Ret.) Robert Magnus as Chairman effective on March 30, 2011.

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

General Magnus succeeds Joseph A. Parini, who has served as Elbit Systems of America's Chairman of the Board since its establishment. Mr. Parini led the Board of Director's through periods of significant expansion and growth, while establishing and maintaining an exceptional reputation for supporting and contributing to U.S. national security interests. Mr. Parini will remain a member of the Board of Directors and has assumed the role of Vice Chairman. The Board of Directors express their deep appreciation to Mr. Parini for the outstanding service as Chairman over the past 20 years.

The new Chairman, General Magnus, retired from active service in the United States Marine Corps in 2008 as the 30th USMC Assistant Commandant after more than 39 years of distinguished service. General Magnus joined the Elbit Systems of America Board of Directors in 2009. He currently serves as the Chairman for the Marine Corps Scholarship Foundation and is a member of the Board of Trustees for his Center for Naval Analyses.

Elbit Systems of America, President and CEO, Raanan Horowitz, commented, "We are very grateful for Mr. Parini's contribution to Elbit Systems of America, especially for his personal dedication to the growth and well being of our company and our people. We are pleased that the Board has elected General Magnus to succeed Joe as its Chairman. I am confident his leadership and thorough understanding of our mission and needs will have a significant impact on our organization as we move to the next phase of our growth. Gen. Magnus brings to this position a wealth of knowledge, experience and success that will help drive our business for years to come."

About Elbit Systems of America, LLC

Elbit Systems of America is a leading provider of high performance products and system solutions focusing on the commercial aviation, defense, homeland security, and medical instrumentation markets. With facilities throughout the United States, Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ and TASE: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and commercial applications.

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.

Trademarks

Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright © 2011 Elbit Systems of America. All rights reserved.

Forward Looking Statement

This press release contains forwardlooking 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. Forwardlooking 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 forwardlooking 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 forwardlooking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

Contact: Tarrah Ledoux, + 1 - 603-886-2269, [email protected]

SOURCE Elbit Systems Ltd