HAIFA, Israel,
July 24 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ: ESLT) (the "Company") announced, further to the Company's
announcement on
July 4, 2007, that on
July 22, 2008 the United States
District Court for the Southern District of
New York issued an order
dismissing, on grounds of forum non conveniens, the claim filed last year by
certain minority shareholders of ImageSat International N.V. ("ImageSat").
The claim had been filed against certain of ImageSat's shareholders including
the Company and against certain current and former officers and directors of
ImageSat, including among others
Michael Federmann,
Joseph Ackerman and
Joseph Gaspar, the Company's Chairman, Chief Executive Officer and Chief
Financial Officer, respectively. As a result of the court's order, should the
plaintiffs decide to continue to pursue the claim they will need to either
appeal the decision to the US appellate court or attempt to file a claim
before an Israeli court. The Company, through one of its subsidiaries, holds
a minority position in ImageSat.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
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
Elbit Systems Ltd G.K. Investor Relations
Tel: +972-4-8316663 Tel: +1-646-201-9246
Fax: +972-4-8316944 E-mail: info@gkir.com
E-mail: gspr@elbit.co.il
daliarosen@elbit.co.il
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