Elbit Vision Systems Ltd. -- ``EVS'' -- Announces Appointment of New Independent Directors to the Board of Directors.Business Editors & Technology Writers YOQNEAM, Israel--(BUSINESS WIRE)--Sept. 25, 2002 Elbit Vision Systems Ltd. (Nasdaq:EVSN EVSN External Volume Serial Number (Veritas Net Backup) EVSN Ecumenical Volunteer Service Network (Baltimore, MD) EVSN Eigenverlag Sieberichs-Nau EVSN European Vacuum Science Network EVSN European Virtual Seismic Network ) announced today the appointment of new independent directors to its Board of Directors. At the annual meeting of the Company's shareholders on September September: see month. 23, 2002, Mr. Meir Amit Meir Amit (Hebrew: מאיר עמית, born 17 March 1921) was the Director of the Mossad from 1963 to 1968. and Prof. Tsvi Piran were elected as independent directors of the Company. The Company's board of directors will appoint Mr. Amit and Mr. Piran to its audit committee at its forthcoming meeting next week. Mr. Nir Alon Nir Alon (born 1964) is an Israeli sculptor and an installation artist. Alon studied from 1988 until 1992 at the Bezalel Academy of Art and Design in Jerusalem. In 1996 he received the price for young artists of the Israeli Ministry for education and Culture. , the Chairman of the Board of EVS EVS European Voluntary Service EVS Environmental Science EVS Electric Vehicle Symposium EVS Enhanced Vision System EVS environmental studies EVS European Values Study EVS Electronic Verification System EVS Extreme Voltage Shutdown , commented: "I believe that the appointment of our new directors further indicates the seriousness of the Company's commitment to its shareholders; Major-General (Res) Meir Amit who served has the Head of the Mossad Israel's intelligence Agency has a long and successful history in the Israeli economy, having served as the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Koor Industries, one of Israel's largest investment holding companies, and as the Israeli Minister of Transportation and Communication, and Tsvi Piran is a Professor of Physics at the Hebrew University Hebrew University of Jerusalem, at Mt. Scopus, Givat Ram, Ein Karem, and Rehovot, Israel; coeducational. First proposed in 1882, formally opened 1925. It is the world's largest Jewish university and is noted for its work on the Dead Sea Scrolls. in Jerusalem, and a member of the Steering Committee steer·ing committee n. A committee that sets agendas and schedules of business, as for a legislative body or other assemblage. steering committee Noun for the Israel Space Agency. We are delighted that they agreed to serve on the Company's board, and had no doubt that our shareholders would elect them overwhelmingly. The Company is looking forward to moving ahead with its business." About the Company: Elbit Vision Systems Limited designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the textile and the non-woven industries. The Company's systems, marketed under the brand I-TEX(TM) and PRINTEX(TM), are designed to increase the accuracy, consistency and speed of detecting and identifying defects in the manufacturing process in order to improve product quality and increase production efficiency. EVS is headquartered in Yoqneam, Israel, with sales and technical service offices worldwide. Forward looking statements in this release with respect to the Company's business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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