Elbit Systems Ltd. (NASDAQ:ESLT) wholly- owned Israeli subsidiary, Elbit Systems Land and C4I-Tadiran Ltd. ("ESLC-T") has acquired all of the shares of Shiron Satellite Communications (1996) Ltd. ("Shiron"), a privately-owned Israeli company, for a purchase price of $16 million.

Shiron is engaged in the broadband communication market and its solutions are suited for the growing interactive multimedia broadband satellite market. Shiron's InterSKY™ satellite communications system provides broadband satellite services to remote locations Shiron's technology, well proven in the commercial market, is anticipated to be synergetic to the communication technology developed and implemented in ESLC-T's military systems and products. Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related programs throughout the world.