Elbit Systems — Regulatory Filings 2005

Jan 26, 2005

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ELBIT SYSTEMS’ U.S. SUBSIDIARY’S “ENHANCED VISION SYSTEM” AWARDED NEW CONTRACT BY GULFSTREAM ESTIMATED AT $20 MILLION

EVS To Be Installed On All Gulfstream Large Cabin Models

Haifa, Israel, January 26 2005 - Elbit Systems Ltd. (NasdaqNM: ESLT), announced that its US subsidiary has been awarded a follow-on contract to supply Enhanced Vision Systems (EVS) to Gulfstream for all their large cabin aircraft models. The multi-year contract IS valued at approximately $20 million.

The EVS will be installed on the top of the line Gulfstream G450 and ultra long range G550 as production standard items. The system will also be available as optional equipment on the Gulfstream G300, G350, G400 and G500.

President and CEO of Elbit Systems Joseph Ackerman commented, "We are very pleased with the continued development of the EVS as a leading system for enhanced safety and improved performance of commercial aircraft and are happy that Gulfstream has further endorsed our system by placing a multi-year order to extend our partnership. This groundbreaking development has been made possible thanks to the technological expertise of our team, and it is representative of our group’s technological capabilities."

All Weather Window® EVS, employs an advanced InfraRed (IR) sensor which presents an image projected on any raster video capable Head Up Display and Head Down Display, providing the pilot with a forward-looking picture overlaying the outside view in a conformal manner. The system allows the pilot to clearly view lights and ground features (such as runways, terrain, aircraft and buildings) at night and in low visibility conditions. The EVS has few training requirements and no database or infrastructure requirements. The pilots and their passengers immediately benefit from lower landing minima, improved flight safety, and increased situational awareness.

Serving 12 models of aircraft covering each of the top aircraft manufacturers in the airline and business jet industry, the EVS has secured firm orders from different customers for more than 700 systems.

The EVS won the 2003 Collier Award as a member of the Gulfstream G550 team, welcomed the FAA’s new EFVS rule and won the Frost & Sullivan 2004 Technology Innovation Award.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defenserelated programs throughout the world, in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence, surveillance and reconnaissance (“C4ISR”), advanced electrooptic 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 IR Contacts Ilan Pacholder, Corporate Secretary and Ehud Helft/Kenny Green VP Finance & Capital Markets Elbit Systems Ltd. GK International Tel: 972-4 831-6632 Tel: 1-866-704-6710 Fax: 972-4 831- 6659 Fax: 972-3-607-4711 pacholder@elbit.co.il ehud@gk-biz.com kenny@gk-biz.com

STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY’S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY’S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.