LASER GUIDED ADVANCED TACTICAL ROCKET SYSTEM

ELBIT SYSTEMS AND ATK TO DEVELOP LASER GUIDED ADVANCED TACTICAL ROCKET SYSTEM

Press Release

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Minneapolis, July 9, 2008 - Elbit Systems Ltd. (NASDAQ: ESLT) and Alliant Techsystems (NYSE: ATK) announced today that they have signed a teaming agreement to develop the Guided Advanced Tactical Rocket – Laser (GATR-L).

GATR-L provides an affordable precision strike capability for all fixed-wing, rotary-wing, and Unmanned Aerial Systems (UAS) platforms. The 70mm rocket employs a Semi-Active Laser (SAL) guidance package to achieve high accuracy against both stationary and moving targets. In addition, GATR-L provides the ability to lock-on before launch to ensure only the target of interest is engaged. GATR-L is compatible with existing 70mm launcher hardware and utilizes enhanced Insensitive Munitions technologies.

Elbit Systems is a world leader in laser guided weapon solutions, and ATK is a leader in the production of rocket motors, advanced warhead and fuze applications. The two companies are currently conducting ground and airborne-guided tests.

About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related 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 air vehicle (UAV) systems, advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms and developing new technologies for defense, homeland security and commercial aviation applications.

About ATK
ATK is a premier United States aerospace and defense company with more than $4.5 billion in revenue and 17,000 employees. ATK is the world’s largest solid rocket motor propulsion provider for tactical, strategic and missile defense systems, as well as scientific and commercial launch platforms. The company is the largest manufacturer of conventional ammunition for small, medium and large caliber systems. In addition, the company is a pioneer of affordable precision weapon systems, a leading provider of high-performance composite structures for commercial and military aircraft, as well as a provider of advanced Intelligent, Surveillance and Reconnaissance systems.

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