Elbit Vision Systems Ltd. Introduces Composite Material Inspection System for the Aircraft Industry; Company Receives Initial Order from Leading European Manufacturer.

YOQNEAM, Israel -- Elbit Vision Systems Ltd. (OTCBB:EVSNF) announced that it has received an initial order from a major European manufacturer of carbon fiber webs that are used in aircraft production, for its newly developed composite material inspection system. The Company believes that there is significant opportunity for follow-on business from this customer, with potential future sales of as much as $3 million.

This system, designed to increase the reliability of composite materials used in the manufacture of aircrafts, is the latest addition to EVS' I-TEX Lite product family. The system inspects composite webs at critical stages of the production process, displaying the inspection results from each stage on a single monitor.

EVS' new system is developed especially for composite, unidirectional, multiaxial and woven webs, providing a feature-rich, cost effective off-the-shelf solution for the aircraft industry.

Mr. Zami Aberman, Chief Executive Officer of EVS said, ""While this is an initial order, we believe that a great deal of potential for further growth exists within the aircraft industry, both through this system and future products that we will bring to market. There is a significant need within the aircraft industry for reliable, advanced inspection tools to ensure both product quality and safety, and we are extremely pleased to enter this segment of the market."

Mr. Aberman continued, "This order, coupled with recent orders for other newly introduced products, further establishes a solid foundation for our new, broader focused objectives of penetrating new markets and providing solutions for such industries as microelectronics and aircraft. We believe that this focus will ensure the continued growth and success of EVS."

About the Company:

Elbit Vision Systems Ltd. designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the industrial, web and microelectronics industries. Company product lines improve product quality and increase production efficiency in the textile, automotive, non-woven, plastics, wafer and LCD industries.

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.