February 27, 2007
USMC Awards Kollsman, an Elbit Systems of America Company, Two Follow-On Orders for Laser Target Designators Valued at Approximately $51 Million
MERRIMACK, NH, February 27, 2007 – Kollsman, Inc., an Elbit Systems of America, LLC company, announced receipt of two follow-on orders from the U.S. Marine Corps (USMC) for its high-performance Laser Target Designator (LTD) systems that have proven successful in field test evaluations. The additional orders, under an Indefinite Delivery, Indefinite Quantity (IDIQ) contract, consisting of approximately $16.9 million and $34 million respectively, represent an increase over the initial order issued in July 2006. Part of the work will be performed by Elbit Systems Electro-Optics Elop Ltd.
Carried and operated by Forward Air Controllers and Reconnaissance Marines, the system allows the warfighter to target enemy troops and equipment with munitions specifically designed for laser guidance and high accuracy. During rigorous testing by the USMC, the LTD met the performance requirements for having the required marking range, operational suitability and life cycle support.
Commenting on the award, Elbit Systems of America President and Chief Executive Officer Tim Taylor states, "One of the characteristics of 21st century conflicts is a heightened sensitivity for avoiding unnecessary damage and loss of life. Tools like the LTD provide the extra measure of precision that ensures accurate targeting and safety for surrounding objects and personnel."
About Kollsman, Inc.
Kollsman, Inc. is a global development, manufacturing and support organization providing advanced electro-optical and avionics systems to the commercial aerospace, defense, and homeland security markets. The company's expertise includes enhanced vision systems, flight displays, head-up displays, thermal imaging systems, fire control systems, and advanced security and surveillance solutions.
About Elbit Systems of America, LLC
Elbit Systems of America, LLC is a leading provider of high performance products and sub-system solutions focusing on the defense, homeland security, and commercial aviation markets. With facilities in Texas, New Hampshire, Kansas, Alabama, Georgia, Virginia, and California, Elbit Systems of America, LLC is dedicated to supporting those who contribute daily to the defense and safety of the United States. The Elbit Systems of America, LLC group is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and homeland security applications.
Additional news and information is available at www.kollsman.com and www.elbitsystemsofamerica.com.
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Statements in the press release regarding Elbit Systems Ltd. and its subsidiaries including the Elbit Systems of America, LLC and its subsidiaries (collectively "Elbit"), that are not statements of historical fact may include forward-looking statements, and statements regarding Elbit’s beliefs, plans, expectations or intentions regarding the future are 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. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Elbit's actual results could differ materially from these statements.
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For Information Contact:
Kim Cushman
Tel: (603) 886-2273
E-mail: kcushman@kollsman.com
