Elbit Systems — Capital/Financing Update 2005

Jan 11, 2005

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Elbit Systems to Supply Imagery Intelligence Systems at a Total Value of Over $100 Million

Haifa, Israel, January 11, 2005, Elbit Systems Ltd. (NASDAQ: ESLT) reported that its subsidiary Elop has recently been selected to supply advanced Imagery Intelligence Systems (IMINT) to various customers at a total value of over $100 million. One of these transactions is expected to be in an amount material to Elbit Systems.

Joseph Ackerman, President and CEO of Elbit Systems, said: “The field of IMINT systems is rapidly developing around the world and of great interest to many armed forces. Our systems are among the leaders in the world market, incorporating our research and development capabilities, with an in-depth understanding of the tactical needs and operational demands for day and night solutions in all-weather conditions and varying environmental parameters."

Elop’s General Manager, Haim Rousso, added: “The recent awards in this field further establish our position as a leader in the area of Imagery Intelligence in particular, and in electro-optics systems in general. These wins are testimony to our customers’ trust in the operational maturity and technological quality of our systems."

Elop is a wholly owned subsidiary of Elbit Systems. It is one of the world leading companies in electro-optics systems and ISR (Intelligence, Surveillance and Reconnaissance) systems, with advanced research and development capabilities covering the spectrum from the R&D stage, through production, to integration of complex systems.

Elop’s many projects are being used by the world’s leading armed forces, including the Israel Defense Forces, and Elop’s customers include leading defense companies, such as Lockheed Martin, Boeing, Northrop Grumman, Thales and others.

Contacts :

Company contact IR Contacts Ilan Pacholder, Corporate Secretary Ehud Helft/Kenny Green and 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

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