Boeing, Elbit Systems of America Sign MOU for Technology Investment in Brazil

Elbit subsidiary AEL Sistemas to participate in development of Large Area Display for fighter aircraft advanced cockpit system

Know-how gained from this work will support Elbit and AEL Sistemas' efforts to establish an Advanced Cockpit Technology Center of Excellence in Brazil

BRASILIA, Brazil, March 5, 2012 -- The Boeing Company [NYSE: BA] and Elbit Systems of America have signed a Memorandum of Understanding (MOU) that supports the development of advanced avionics capabilities in Brazil.

Boeing has selected Elbit to provide the Large Area Display system that will be part of an advanced cockpit system to be offered on Boeing fighter aircraft, including the F/A-18E/F Super Hornet and the F-15 family of aircraft, including the Silent Eagle. As a key supplier to Boeing fighter aircraft programs, Elbit has committed to investing in the development of advanced cockpit avionics capabilities at its subsidiary in Brazil, AEL Sistemas S.A. of Porto Alegre.

"Boeing and its Tier 1 supplier-partners are committed to bringing key technologies to Brazil," said Boeing Military Aircraft President Chris Chadwick. "Through the projects identified for AEL Sistemas, Boeing and Elbit support Brazil's objective of developing the aerospace capabilities of local industry for the sustainment of its current and future military aircraft fleet. At the same time, we're focused on building long-lasting opportunities for Brazilian industry in the development and production of key technologies as Boeing continues to enhance its family of tactical fighter aircraft to meet the emerging needs of our customers around the globe."

The MOU outlines opportunities for AEL Sistemas to participate in the design, development, production and support of some Large Area Display software and hardware. The knowledge and capabilities gained from this work also will support Elbit and AEL Sistemas' efforts to establish an Advanced Cockpit Technology Center of Excellence in Brazil, which will position AEL Sistemas to expand its advanced cockpit avionics market reach to other fixed-wing platforms, as well as rotorcraft.

Activities proposed for AEL Sistemas enhance Boeing’s industrial participation offer on the F-X2 fighter program.

Elbit's 11-inch by 19-inch (27.9 x 48.2 cm) Large Area Display is the centerpiece of Boeing's Advanced Cockpit System, an upgrade common to the F/A-18 and F-15 platforms. The Advanced Cockpit System will improve the way the pilot interacts with the aircraft and will enable growth to next-generation visual cueing, improving situational awareness and increasing aircraft effectiveness.

Elbit Systems of America is a leading provider of high-performance products and system solutions focusing on the commercial aviation, defense, homeland security, and medical instrumentation markets. Elbit Systems of America is wholly owned by Elbit Systems Ltd. (NASDAQ and TASE: ESLT), a global electronics company engaged in a wide range of programs for innovative defense and commercial applications. AEL Sistemas S.A., a wholly owned Elbit subsidiary located in Porto Alegre, Brazil, serves as a center for production and logistics support for advanced defense electronics programs in Brazil and globally.

A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $32 billion business with 62,000 employees worldwide.