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Aviation Week & Space Technology Awards Elbit Systems Ltd. as Best-Managed Aerospace Company of the Year in Mid-Size Category.

HAIFA, Israel, June 19 /PRNewswire/ --

Elbit Systems Ltd. (Nasdaq: ESLT) announced today that Aviation Week & Space Technology ("AW&ST") awarded Elbit Systems Ltd. as the Best-Managed Aerospace Company for 2001 in the mid-size category.

In a ceremony held today at the Paris Air Show in Le Bourget, France, the "Best-Managed Company" Award was presented by Kenneth E. Gazzola, Executive Vice President/Publisher Aviation Week, to Joseph Ackerman, Elbit Systems' president and CEO.

AW&ST's annual Best-Managed Company ratings are based on the magazine's proprietary Competitiveness Index. Publicly traded companies' published financials provide the raw data for computing the rankings. According to AW&ST, the power of the Index is its focus on critical management measures such as asset utilization, productivity and financial stability.

Elbit Systems emerged as one of seven companies recognized, each one in its category, for organizational strength and ability to compete in the global marketplace. The other winning companies, by category, are:

* General Dynamics Corp. -- Best-Managed Large Aerospace Company;

* Herley Industries, Inc. -- Best-Managed Small Aerospace Company;

* Singapore Airlines -- Best-Managed Major Airline;

* Ryanair Holdings PLC -- Best-Managed National Airline;

* SkyWest Airlines -- Best-Managed Regional Airline;

* FedEx Corp. -- Best-Managed Cargo Airline.

"The Best-Managed Companies'" rankings are a report card for determining how well management is running the business in light of current and future competitive requirements," said Aviation Week Executive Vice President/Publisher Kenneth E. Gazzola. "This year's winning companies set a standard for the entire global aviation and aerospace industry."

"It is most gratifying for our company to be recognized as the "best in the business" by such a prestigious magazine as Aviation Week and Space Technology. I'm accepting this award on behalf of the 4,000 employees of Elbit Systems worldwide, whose utmost dedication is being recognized today," said Joseph Ackerman, Elbit Systems' President and CEO.

"We, at Elbit Systems, strongly believe that the key to success is to be able to focus the attention of management and employees on customer needs and to act persistently in order to achieve complete customer satisfaction. Continuous improvement in customer satisfaction is tightly related to meeting the major goals of any company -- creating shareholders value, establishing a better working place for employees, strengthening ties with business associates, together with contributing to the communities in which we operate," added Mr. Ackerman.

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.

STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

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Publication:PR Newswire
Geographic Code:7ISRA
Date:Jun 19, 2001
Words:520
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