HAIFA, Israel, August 24 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (the "Company") (Nasdaq NM: ESLT) announced that at its Extraordinary General Meeting of Shareholders held on August 23, 2005 at the Company's offices in Haifa, the proposed resolution described in the Proxy Statement to Shareholders dated August 2, 2005, was approved by the required majority. The resolution approved at the meeting was the approval and ratification of the agreements entered into by the Company on July 6, 2005 regarding the purchase from Koor Industries Ltd. ("Koor") of its ordinary shares in Elisra Electronic Systems Ltd. ("Elisra"). Also approved was the ratification of the amendment agreement entered into on July 6, 2005 by the Company and Koor, relating to the amended share transfer and amended shareholder agreement, amending the original agreements entered into on December 27, 2004 regarding the Company's purchase of Koor's ordinary shares in Tadiran Communications Ltd. ("Tadiran"). This approval by the Company's shareholders of the agreements relating to the purchase of the Elisra and Tadiran shares is one of the conditions required for the completion of the transaction relating to the purchase of the Elisra and Tadiran shares. The transaction had previously been approved by the Company's Audit Committee and Board of Directors. The parties are in the process of obtaining the remaining required approvals to complete the transaction. About Elbit Systems Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related programs throughout the world, in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence, surveillance and reconnaissance ("C4ISR"), advanced electro-optic and space technologies. The Company focuses on the upgrading of existing military platforms and developing new technologies for defense and homeland security applications. For more about Elbit Systems, please visit our website at http://www.elbitsystems.com/ Contacts Company contact Ilan Pacholder, Corporate Secretary and VP Finance & Capital Markets Elbit Systems Ltd. Tel: +972-4-831-6632 Fax: +972-4-831-6659 IR Contacts Ehud Helft/Kenny Green GK International Tel: +1-866-704-6710 Fax: +972-3-607-4711 STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. DATASOURCE: Elbit Systems Ltd. CONTACT: Contacts: Company contact, Ilan Pacholder, Corporate Secretary and VP Finance & Capital Markets, Elbit Systems Ltd., Tel: +972-4-831-6632, Fax: +972-4-831-6659, . IR Contacts, Ehud Helft/Kenny Green, GK International, Tel: +1-866-704-6710, Fax: +972-3-607-4711, ,

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