Israel Aircraft Industries Ltd. (IAI) has reported new orders for the first 9 months of 2002 in the sum of $2.1 billion. The Company's backlog has reached a record high of $4.4 billion, compared to last year's third quarter, which totaled $3.7 billion. Mr. Moshe Keret, President & CEO, reported the results to the Board of Directors, which approved the Company?s financial statements as of September 30, 2002.

Ben-Gurion International Airport, Israel - Mr. Moshe Keret - Israel Aircraft Industries (IAI)'s President & CEO and Chairman of the Board of Directors of Elta Systems Ltd., a wholly-owned subsidiary of IAI, and Mr. Danny Biran - President of Koor Industries and Chairman of Elisra Electronic Systems Ltd., announced today (November 27, 2002) the completion of the acquisition of 30% of Elisra's shares by Elta Systems, based on a company value of $330 million. Koor Industries received $100 million in cash.