Elbit Systems Ltd. announced today that EROS A1,
the first commercial photography satellite launched last week by
IMAGESAT, has begun transmitting images taken by an advanced digital
camera developed and manufactured by Elop Electro-Optics Industries
Ltd. (“El-Op”), an Elbit System’s subsidiary.

The El-Op space camera onboard EROS A1 features 1-meter resolution
and represents an impressive record in space-related achievements. In
addition to IMAGESAT’s EROS A1, El-Op has developed a variety of
cameras for the Ofeq Satellite and for initiatives that have been
taken by the Israel Space Agency. El-Op is also an active partner in
“DAVID,” the European-Union-financed venture to develop a
multi-spectral space camera for earth resources research.

El-Op’s proven capabilities in space-based systems also led to the
recent win of a major international tender for the development of an
advanced electro-optic space payload for the Korean Space Agency. The
El-Op payload will contain a high-resolution electro-optic camera with
a 1-meter resolution channel and several multi-spectral, 4-meter
resolution channels. The exceptionally compact and lightweight payload
will also include a data compression, storage and transmission unit,
as well as mission management and power supply units.

Building on the extensive expertise it has gained in the
development of lightweight space-borne systems, El-Op has developed
unique, long-range airborne reconnaissance systems and stabilized
payloads that have been installed on board a variety of military
aircraft. In recent years, El-Op has won a number of contracts for
airborne reconnaissance systems based on technology developed for its
space-borne systems.

Elbit Systems, through El-Op, together with Israel Aircraft
Industry and other investors, is a partner in IMAGESAT,
www.imagesatintl.com, holding 9.4% equity in the company.

About Elbit Systems

Elbit Systems Ltd. is engaged in a wide range of defense-related
airborne, ground and command, control and communications (“C3”)
programs throughout the world. The Company focuses on upgrading of
existing military platforms and developing new technologies for
defense application.

El-Op, an Elbit Systems subsidiary, specializes in the R&D,
manufacture, assembly, and testing of electro-optic systems and
products for a wide range of applications. El-Op’s main business areas
include: remote sensing systems for space and airborne reconnaissance
activities, thermal imaging systems, laser rangefinders and
designators, armored fighting vehicle upgrades and systems, optronic
stabilized payloads and electro-optic countermeasures.

Elbit Systems Ltd.

Arie Tal, Corporate Secretary

Ilan Pacholder, Finance Director

Tel: 972-4-831-6632

Fax: 972-4-831-6659


Lippert/Heilshorn & Associates

Jody Burfening / Sanjay Hurry

Tel: 212-838-3777 (Ext. 6608 / 6621)