Elbit Systems — Capital/Financing Update 2005

Feb 16, 2005

ELBIT SYSTEMS

ELBIT SYSTEMS TO SUPPLY COMMAND & CONTROL MISSION MANAGEMENT SYSTEMS FOR AIRBORNE PLATFORMS TO ISRAELI AIR FORCE - CONTRACT VALUED AT OVER $30 MILLION

The export version of the system, HeliC³om, is the latest in command and control systems providing helicopter crews and ground forces with the capability of sharing mission critical data based on data communication

Haifa, Israel, February 16, 2005 - Elbit Systems Ltd. (Nasdaq NM: ESLT), has been awarded a contract, valued at over $30 million, to provide the Israeli Air Force with a command and control mission management system for airborne platforms. This advanced system provides the combat forces with a real-time updated situational picture, which enables them to share mission critical data based on data communication. The system will allow all mission participants to benefit from an accurate tactical picture for enhanced situational awareness, as well as effective synchronized operation on the battlefield. The system enables support coordination, identification of friendly forces and prevention of inadvertent gunfire.

Joseph Ackerman, President of Elbit Systems, commented: "We are proud of the Air Force's decision to select our command and control system for helicopters, which is the most advanced system of its kind". He stated that Elbit Systems is among the world's leading companies in development of command, control, communication, computers and intelligence for the digital battlefield, and is currently a leader in providing integrated solutions for all levels of command in the Israeli Defense Forces and in other armed forces worldwide.

The export version of the system, HeliC³om, is comprised of computer and display systems that present necessary tactical information and enable enhanced navigational capabilities, obstacle avoidance and pre-and in-flight mission planning. The system's graphical capabilities allow for simplicity of operation for the air crew by the use of touch screens. In addition, the system provides the ability to perform in-flight mission calculations and to receive visual and vocal warnings in order to avoid obstacles and prevent collisions in real time.

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

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("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 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 pacholder@elbit.co.il

IR Contacts Ehud Helft/Kenny Green

GK International Tel: 1-866-704-6710 Fax: 972-3-607-4711 ehud@gk-biz.com kenny@gk-biz.com

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