Elbit Systems Ltd. Receives Approval to Acquire Universal Avionics

Universal Avionics Systems Corporation announces that Elbit Systems Ltd. (NASDAQ and TASE: ESLT) is in the process of completing the acquisition of Universal Avionics through an asset acquisition agreement. The parties have received the applicable government approvals and the closing is anticipated to occur in the coming weeks. Under the ownership of Elbit Systems, Universal Avionics will become a wholly-owned subsidiary.