Elbit Systems Subsidiary Selected by Lockheed Martin Aeronautics to Supply New Generation F-16 HUDs

HAIFA, Israel , April 9 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ:ESLT) announced that its subsidiary Elbit Systems Electro-Optics Elop Ltd. was selected by Lockheed Martin Aeronautics to supply new generation Head Up Displays (HUDs) for the new F-16 aircraft.

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The multi-year project, which will commence immediately, is a continuation of ongoing cooperation between the two companies in the area of HUDs for F-16 aircraft.

An initial order valued at approximately $3.8 million has been placed. The full potential value of the master purchase order is dependent on the level of future F-16 sales.

According to Elbit Systems Electro-Optics Elop General Manager, Haim Rousso :

"This framework agreement strengthens Elop's important cooperation with Lockheed Martin. High performance, high reliability and cost effectiveness are the main elements of our unique HUD solutions for the F-16 and other programs."

Elop has supplied more than 3,300 HUDs, representing thirteen different models, flying on more than 20 aircraft types, to customers around the world.

About Elbit Systems Electro-Optics Elop Ltd.

Elbit Systems Electro-Optics Elop Ltd. ("Elop"), a subsidiary of Elbit Systems Ltd., is a globally recognized multidisciplinary electro-optics systems house - incorporating the full range of related technology and facilities under one roof. Elop provides advanced and affordable solutions in the fields of Observation and Surveillance Payloads, Lasers, Thermal Imaging, Space and Airborne IMINT, Electro-Optic Countermeasures, Head-Up Displays, Integrated Sights and Robotic Systems for Ground Forces and Homeland Defense. Built on more than 70 years of experience and a high level of vertical integration, Elop offers a diverse range of market-leading products and systems for military, homeland security and commercial applications.

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.

SOURCE Elbit Systems Ltd