U-TacS Awarded $70 Million Contract by Thales for Watchkeeper Maintenance and Logistic Support

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Apr 15, 2010, 03:19 ET

HAIFA, Israel, April 15, 2010 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ: ESLT) announced today that UAS Tactical Systems Ltd. (U-TacS) - its Leicester-based joint company with Thales UK,- has been awarded a $70 million contract by Thales UK to provide Contractor Logistics Support (CLS) services for the Watchkeeper project to be undertaken over the next three years.

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

The Watchkeeper project, one of the largest Unmanned Aircraft Systems (UAS) projects in the world, is designed to provide the UK armed forces with essential Intelligence, Surveillance, Target Acquisition and Reconnaissance (ISTAR) capabilities. The project's prime contractor is Thales UK. U-TacS is in charge of development, integration, test flights and manufacture of the UAS' sub-systems, including the unmanned aircraft, the ground control station, Elbit Systems Electro-Optics Elop's D-CoMPASS(TM) payload and other systems.

In conjunction with its role on the Watchkeeper project, U-TacS also provides the Hermes(R) 450, under an Urgent Operational Requirement (UOR) program, in which the UK armed forces operate Hermes(R) 450 UAS to support its forces deployed in Afghanistan. Hermes(R) 450 UAS have flown more than 30,000 operational hours in support of these ongoing operations.

U-TacS is held 51% by Elbit Systems with the balance being owned by Thales UK.

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.

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.

    For additional information, visit: http://www.elbitsystems.com.

    Contacts:

    Company Contact:
    Joseph Gaspar, Executive VP & CFO
    Dalia Rosen, VP & Head of Corporate Communications
    Elbit Systems Ltd
    Tel: +972-4-8316663
    Fax: +972-4-8316944
    E-mail: [email protected]
    [email protected]


    IR Contact:
    Ehud Helft / Kenny Green
    CCG Investor Relations
    Tel: 1-646-201-9246
    E-mail:[email protected]

SOURCE Elbit Systems Ltd