Elbit Systems Completes Merger of Tadiran Communications

HAIFA, Israel , July 1 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (Elbit Systems) announced that all approvals required for the merger of Tadiran Communications Ltd. (Tadiran Communications) with and into Elbit Systems have been obtained, and the Israeli Registrar of Companies issued its merger order on June 30, 2008 . This is further to the announcement on November 7, 2007 , regarding Elbit Systems Board of Directors' approval of the merger.

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Pursuant to the approved merger, Tadiran Communications transferred all of its assets and liabilities to Elbit Systems, merged with and into Elbit Systems and no longer exists as a legal entity.

The Merger is part of Elbit Systems' re-organization plan. It includes a merger and a vertical demerger of Elbit Systems' Land Systems and C4I Division together with most of the operations and activities of Tadiran Communications in Israel prior to the merger into a wholly-owned Israeli subsidiary, Elbit Systems Land and C4I - Tadiran Ltd. The demerger occurred immediately after the approval of the merger and as an integral part thereof. In addition, Tadiran Communications' former U.S. subsidiaries have become a part of the Elbit Systems of America companies.

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