ROSH HA'AYIN, Israel, January 6 /PRNewswire-FirstCall/ -- BVR Systems (1998) Ltd. (OTC Bulletin Board: BVRSF), announced today it has entered into a license agreement, valued at approximately $US 2.9 million, with a major European Defense company pursuant to which BVR granted the company a worldwide, non exclusive license to BVR's Embedded Virtual Avionics (EVA) patents.

In addition to this agreement BVR and the company will further evaluate joint business opportunities in the area of live and virtual training.

"We are very pleased by this agreement," responded BVR CEO Ilan Gillies. "This award is a further achievement in our long term strategy to capture a major share in the rapidly evolving global embedded training market, and an additional recognition of the added value of our unique IP. We will continue to lead the market with innovative and mature solutions while protecting our IP rights."

About BVR Systems BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.

For more information visit the Company's web site at http://www.bvrsystems.com

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of BVR only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for BVR's products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of BVR to differ materially from those contemplated in such forward-looking statements. BVR undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting BVR, reference is made to BVR's reports filed from time to time with the Securities and Exchange Commission.



    Contact:

    Ilan Gillies - CEO
    BVR Systems (1998) Ltd.
    Tel +972-3-900-8000

SOURCE BVR Systems (1998) Ltd.