ESLT Elbit Systems Ltd

RESULTS DEMONSTRATE LOW-COST, RAPID DEVELOPMENT OF AFFORDABLE PRECISION MINNEAPOLIS, Dec. 1 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) and Elbit Systems Ltd. (NASDAQ:ESLT) have successfully conducted flight tests of the Guided Advanced Tactical Rocket (GATR) from a U.S. Army rotary-wing helicopter: the OH-58D Kiowa Warrior. The tests took place during a recent U.S. Army Aviation Applied Technology Directorate (AATD) demonstration, conducted at Eglin Air Force Base in Florida. GATR was fired from an OH-58D Kiowa Warrior helicopter using "lock-on before launch" to engage targets at ranges exceeding five kilometers. The multiple laser-designated guided test flights, launched from a standard 2.75-inch launcher, resulted in direct impacts on all targets. The pilot of the OH-58D was able to confirm lock-on of the GATR prior to launch. "ATK and teammate Elbit Systems have rapidly developed and deployed a low-cost precision system to meet our customers' needs," said Mark DeYoung, ATK Senior Vice President and President Armament Systems. Originally announced in July 2008, GATR benefits from a robust design, which combines combat-proven performance, a minimum smoke signature and the reliability of an ATK-produced propulsion system, similar to a system employed on millions of rockets produced for the United States Army. GATR contains a guidance and control system built with the experience of Elbit Systems' heritage in high-performance laser seekers for the United States and international customers. It employs advanced acquisition, tracking and guidance algorithms to achieve one-meter accuracy against stationary and moving targets. In its tactical configuration, GATR will incorporate an Insensitive Munitions (IM) rocket motor and a family of IM warheads to include blast/fragmentation and penetration. GATR minimizes collateral damage, while providing stand-off deployment against a wide array of target sets. GATR supports lock-on before or after launch as well as autonomous or remote laser designation. The system can be deployed against targets at ranges exceeding 8 kilometers from fixed and rotary-wing aircraft. It is compatible with existing 2.75"/70mm launcher hardware. GATR will be particularly effective in urban areas or against targets where a low collateral damage solution is required. The GATR system fills the gap between larger, more expensive guided missiles and the current family of unguided rockets. About ATK ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues in excess of $4.8 billion. News and information can be found on the Internet at http://www.atk.com/. 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. For additional information, visit http://www.elbitsystems.com/. ATK Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the challenges of developing advanced, precision-fire weapons; changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Elbit Systems 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. Elbit Systems Contacts: ATK Contacts: ----------------------- ------------- Amanda Covington, Communications Dalia Rosen, Corp. Communications Tel: 801-779-4625 Tel: +972-4-8316784 Jeff Huebschen, Investor Relations Fax: +972-4-8315666 Tel: 952-351-2929 E-mail: E-mail: DATASOURCE: ATK CONTACT: Elbit Systems, Dalia Rosen, Corp. Communications, +972-4-8316784, fax, +972-4-8315666, ; or ATK, Amanda Covington, Communications, +1-801-779-4625, , or Jeff Huebschen, Investor Relations, +1-952-351-2929, Web Site: http://www.atk.com/

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