Elbit to Perform Airborne Upgrade Projects in Europe Valued $80 M

(Haifa, Israel, December 17, 2008) -- Elbit Systems Ltd. (NASDAQ: ESLT) announced that it was recently awarded several airborne upgrade contracts at a total value of approximately $80 million. Signed with European customers, the projects will be performed over the course of the next three years.

The contracts awarded, which call for the upgrade of both fixed-wing aircraft and helicopters, will encompass the installation of some of Elbit Systems' innovative systems, including: display systems, battle mission computers, command & control systems and advanced helmet systems.

Yoram Shmuely, Joint General Manager of Elbit Systems' Aerospace Division, commented: "The new contracts were all received from existing customers for whom the company has already performed upgrade projects, all of which platforms upgraded by Elbit are operational to the customers' satisfaction".

Source : Elbit Systems Ltd. - click here for more information