Israeli Satellite ‘Ofeq 5′ Launched Successfully; Equipped with a Camera Supplied by El-Op, an Elbit Systems’ Subsidiary

Elbit Systems Ltd. (the “Company”) , the international defense
electronics company, today announced that the Israeli satellite “Ofeq 5,”
developed and produced by Israel Aircraft Industries Ltd., was launched
successfully on May 28, 2002.

The “Ofeq 5” is equipped with an advanced camera supplied by Elop
Electro-Optics Industries Ltd. (“El-Op”), a wholly-owned subsidiary of Elbit
Systems. The “Ofeq 5” is based on advanced technologies, enabling it to be
utilized for various national purposes.

El-Op has an extensive experience in developing and producing various
electro-optical systems for space applications. El-Op is a major participant
in the Israeli Space Program, as well as in other space programs, such as the
EROS program of ImageSat International, the Korean Space Program and the
European Union commercial space programs. El-Op, whose space systems are at
the forefront of technology, is a worldwide leader in the area of satellite
photography.

About Elbit Systems Ltd.

Elbit Systems Ltd. is engaged in a wide range of defense-related programs
throughout the world, in the areas of aerospace, ground and naval systems,
command, control and communications (C3) and advanced electro-optic
technologies. The Company focuses on the upgrading of existing military
platforms and developing new technologies for defense applications.

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