Elbit Systems' Subsidiary, Cyclone, to Supply Boeing F-15 Components, Valued at $31 Million

HAIFA, Israel, August 20 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ: ESLT) announced that its subsidiary, Cyclone Aviation Products Ltd. (Cyclone), has been awarded a contract by The Boeing Company valued at approx. US$31 million to supply structural components for its F-15 fighter jets.

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The contract calls for the supply of external fuel tanks, pylons, horizontal stabilizers and gun access doors. Deliveries are scheduled between 2009 and 2011.

Yoram Shmuely, Co-General Manager of Elbit Systems Aerospace Division said: "We are proud to be selected by Boeing to supply key elements for the F15. This contract win reflects the trust and recognition we have established among major aviation manufacturers such as Boeing."

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:                                IR Contact:
    Joseph Gaspar, Executive VP & CFO               Ehud Helft / Kenny Green
    Dalia Rosen, Head of Corporate Communications   G.K. Investor Relations
    Elbit Systems Ltd                               Tel: 1-646-201-9246
    Tel: +972-4-8316663                             E-mail: info@gkir.com
    Fax: +972-4-8316944
    E-mail: gspr@elbit.co.il
    daliarosen@elbit.co.il