ESLT Elbit Systems Ltd

Fully Developed by Elbit Systems, the new Electrically Remote Controlled Weapon Station- Medium (ERCWS- M) Will be Integrated on the IVECO Defense Vehicles LMV 4X4 HAIFA, Israel, May 18 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ:ESLT) announced it has been awarded a contract valued at EUR25 million to supply the Austrian Army with Elbit Systems' new 12.7mm unmanned Electrically Remote Controlled Weapon Stations. The systems will be delivered over the course of the next four years. (Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 ) The contract for the Austrian Army was signed between Elbit Systems and IVECO S.p.A., a subsidiary of the Fiat Group, prime contractor for the program. The Weapon Stations provided by Elbit Systems will be integrated into IVECO Defence Vehicles' Light Multi-role Vehicles (LMV) 4X4. In addition to the day and night detection systems, Elbit Systems' weapon stations include a Multi-Threat Detection System (MTDS), capable of detecting, categorizing and pinpointing Laser, Radar and RF Sources. The MTDS provides a solution to threats caused by a variety of sources. The new weapon station is based on Elbit Systems' expertise and combat proven fire control systems, drive systems and electro-optic systems. The system is highly suited for Light Multi-role Vehicles, enhancing the vehicles' capabilities by adding both sensors and firepower, with little increase in overall percentage of vehicle weight. Bezhalel (Butzi) Machlis, General Manager of Elbit Systems Land and C4I Tadiran, said: "We are proud to have been selected to take part in this important project for the Austrian Armed Forces. Elbit Systems' co-operation with IVECO Defence Vehicles reflects the level of recognition we have achieved with our customers and international partners. The selection of our systems constitutes a breakthrough in an emerging international market emanating from a shift in the modern battlefield." About Elbit Systems Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related 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 air vehicle (UAV) systems, 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 and developing new technologies for defense, homeland security and commercial aviation applications. 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 Dalia Rosen, Head of Corporate Communications Elbit Systems Ltd Tel: +972-4-8316663 Fax: +972-4-8316944 E-mail: IR Contact: Ehud Helft / Kenny Green G.K. Investor Relations Tel: +1-646-201-9246 E-mail: http://www.newscom.com/cgi-bin/prnh/20080408/300441DATASOURCE: Elbit Systems Ltd CONTACT: Contacts: Company Contact: Joseph Gaspar, Executive VP & CFO, Dalia Rosen, Head of Corporate Communications, Elbit Systems Ltd, Tel: +972-4-8316663, Fax: +972-4-8316944, E-mail: , ; IR Contact: Ehud Helft / Kenny Green, G.K. Investor Relations, Tel: +1-646-201-9246, E-mail:

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