Elbit Vision Systems Wins Orders From Two Leading US-based Aerospace Manufacturers and Reports Cost Reduction Measures

The orders are from two leading US-based Aerospace manufacturers, for the supply of Ultrasonic inspection systems to check for structural flaws in aircrafts and jet-engine parts prior to assembly.

David Gal, CEO and Chairman of the Board, "The orders are from an existing customer and a new customer, and indicate both satisfaction with our existing product line and services as well as continuing demand for our ultrasonic inspection solutions.

Mr. Gal continued: "Due to the world economic slowdown we have implemented a cost reduction plan in 2009 aimed at reducing our fixed costs by $2.5M a year., but we believe that while the slowdown will adversely affect demand for our automatic optical inspection solutions, revenues from our ultrasonic inspection solutions will stay the same as 2008."

About Elbit Vision Systems Ltd. (EVS): http://www.evs-sm.com

EVS offers a broad portfolio of automatic State-of-the-Art Visual and Ultrasonic Inspection Systems for both in-line and off-line applications, and quality monitoring systems used to improve product quality, safety, and increase production efficiency.

EVS' systems are used by over 600 customers, many of which are leading global companies. The headquarters, manufacturing and R&D of EVS are all located inIsrael.

A worldwide Sales and Service network supports markets as well as systems already installed, inAsia,Europe,Africa,Australia and the Americas. Safe Harbor:

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

    Company Contact

    Yaron Menashe, CFO
    EVS
    Tel: (Int'l) +972-9-8661-601
    yaron@evs-sm.com

SOURCE Elbit Vision Systems Ltd

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