Elbit Systems Ltd. announced that following a competitive process, and as part of an agreement between the Israeli Ministry of Defense (“IMOD”) and the Hellenic Ministry of National Defense, the Company was selected to establish and operate the International Flight Training Center of the Hellenic Air Force (“Flight Training Center”). The Hellenic Government approved the establishment and operation of the Flight Training Center by the IMOD and Elbit Systems for an amount of approximately $1.68 billion (approximately €1.375 billion) for a period of approximately 20 years. The anticipated contract award is contingent on completion of commercial negotiations with the Hellenic Ministry of National Defense. The program calls for Elbit Systems to deliver training aircraft fleets equipped with the Company’s unique avionics and embedded training solutions, supply the Company’s flight simulators and training aids and provide through-life logistical support.