SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                              --------------------

                                    FORM 6-K
                        Report of Foreign Private Issuer
                        Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934
                         For the Month of December 2004
                             -----------------------

                               ELBIT SYSTEMS LTD.
                 (Translation of Registrant's Name into English)
           Advanced Technology Center, P.O.B. 539, Haifa 31053, Israel
                    (Address of Principal Corporate Offices)

    Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:

          |X|         Form 20-F         |_|     Form 40-F

    Indicate by check mark whether the registrant by furnishing the information
    contained in this form is also thereby furnishing the information to the
    Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
    1934:

          |_|      Yes               |X|      No







         Attached hereto as Exhibit 1 and incorporated herein by reference is
the Registrant's press release dated December 20, 2004.


                                    SIGNATURE
                                    ---------

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                           ELBIT SYSTEMS LTD.
                                           (Registrant)


                                           By: /s/ Ilan Pacholder
                                               ---------------------------------
                                               Name:  Ilan Pacholder
                                               Title:  Corporate Secretary

Dated:  December 21, 2004






                                  EXHIBIT INDEX
                                  -------------


    EXHIBIT NO.            DESCRIPTION
    -----------            -----------

    1.                     Press Release dated December 20, 2004.





                                    EXHIBIT 1
                                    ---------

        BULGARIAN MINISTRY OF DEFENSE SELECTS ELBIT SYSTEMS AND LOCKHEED
                   MARTIN BID FOR HELICOPTER UPGRADE PROGRAM

Haifa,  Israel,  December 20, 2004, Elbit Systems Ltd.  (NASDAQ:  ESLT) reported
that the Minister of Defense of Bulgaria  announced today at a press  conference
the  selection  of the team led by Elbit  Systems and  Lockheed  Martin,  as the
preferred bidder for the helicopter upgrade program in Bulgaria.
 
The program includes upgrading 12 MI-24 combat helicopters and 6 MI-17 transport
helicopters,  to comply with NATO  standards.  Elbit  Systems  will be the prime
contractor for the project.  The project's  amount is expected to be material to
Elbit Systems.  The project is subject to completion of negotiations and signing
of a contract with the Government of Bulgaria.
 
************************************************************
ABOUT ELBIT SYSTEMS
 

Elbit Systems Ltd. is an international  defense electronics company engaged in a
wide range of  defense-related  programs  throughout the world,  in the areas of
aerospace, land and naval systems, command, control, communications,  computers,
intelligence,  surveillance and reconnaissance ("C4ISR"), advanced electro-optic
and space  technologies.  The  Company  focuses  on the  upgrading  of  existing
military  platforms and  developing  new  technologies  for defense and homeland
security applications.

          
For more about Elbit Systems, please visit our website at www.elbitsystems.com

Contacts:
 
COMPANY CONTACT                                      IR CONTACTS
Ilan Pacholder, Corporate Secretary and VP           Ehud Helft/Kenny Green
   Finance & Capital Markets
ELBIT SYSTEMS LTD.                                   GK INTERNATIONAL
Tel:  972-4  831-6632                                Tel: 1-866-704-6710
Fax: 972-4  831- 6659                                Fax: 972-3-607-4711
pacholder@elbit.co.il                                ehud@gk-biz.com
---------------------                                ---------------
                                                     kenny@gk-biz.com
                                                     ----------------






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.