Elbit Systems Awarded from Rafael Two Contracts in a Total Amount of $35 Million for Supply of Laser Designators to Countries in Asia-Pacific

Haifa, Israel, January 3, 2017 – Elbit Systems Ltd. (NASDAQ and TASE: ESLT)  ("Elbit Systems") announced today that it was awarded two contracts from Rafael Advanced Defense Systems Ltd. for the supply of airborne laser designators, in a total value of approximately $35 million. The contracts will be performed over a three-year period and systems will be supplied by Rafael to two countries in the Asia-Pacific region.

Elbit Systems' laser designators have been in the forefront technologically and operationally for over three decades. Elbit Systems' designators are based on cutting-edge technology, with specific focus on optimizing size, weight and power (SWaP), thus providing the optimal solution for ground and airborne systems alike.

Significant technological investments, as well as a large scale production infrastructure have enabled Elbit Systems to become a world leader in the field of lasers in general and laser designators in particular, with thousands of designators operational worldwide. The miniaturized laser systems provide aircrews with force multiplying capabilities, for a precise target designation and a rapid closure of the sensor to shooter cycle.

Elad Aharonson, General Manager of Elbit Systems' ISTAR Division said:"Elbit Systems has years of experience in developing advanced electro optic systems including highly accurate and powerful laser designators in particular. The awarded contracts reaffirm Elbit' Systems' commitment to the Asia-Pacific market and to its investments in local industries".

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems,

advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

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This press release contains forward‑looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact.  Forward-looking statements are based on management's expectations, estimates, projections and assumptions.  Forward‑looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended.  These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.  Therefore, actual future results, performance and trends may differ materially from these forward‑looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward‑looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

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