<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>3
<FILENAME>ex1tojune2003.txt
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                                    EXHIBIT 1

Elbit   Systems   to  Provide   Information   Processing   System  for   Israeli
Money-Laundering Prohibition Authority

Monday May 5, 7:03 am ET

Contract Value Exceeds $6.5 million

HAIFA, Israel, May 5 /PRNewswire-FirstCall/  -- Elbit Systems Ltd. (Nasdaq: ESLT
- News)  announced today that it has received a contract for the development and
support of an  information  processing  system for the Israeli  Money-Laundering
Prohibition Authority (IMPA).

The contract value exceeds $6.5 million with the system to be implemented within
22 months.

The project will provide IMPA with an Information  Technology (IT) System, which
includes a database  and a  collection  center for  relevant  data from  various
financial   institutions  such  as  banks,   insurance   companies  and  customs
authorities.

The "heart" of the system will consist of analysis and research  subsystems  and
highly  secured  data   communication   systems  that  will  provide  IMPA  with
information from an assortment of government and commercial resources,  allowing
IMPA to detect persons and  organizations  that may be engaged in terror funding
or money-laundering activities.

The project includes the management of the Official Data Base which includes the
Currency Transactions reports and the Suspicious Activities reports submitted to
IMPA by the Israeli financial  community,  as well as reports of enrichment from
local law  enforcement  and government  information  resources and from parallel
national financial intelligence units in other countries.

The  information  processing  system to be developed by Elbit Systems under this
contract is expected to be one of the most  sophisticated  Intelligence  Support
systems for Government organizations and Intelligence Communities.

About Elbit Systems Ltd.

Elbit Systems Ltd. is an international  defense electronics company engaged in a
wide range of  defense-related  programs  throughout the world,  in the areas of
aerospace, ground and naval systems, command, control, communications, computers
and  intelligence  (C4I) and advanced  electro-optic  technologies.  The Company
focuses on the  upgrading of existing  military  platforms  and  developing  new
technologies for defense applications.

STATEMENTS   IN  THIS  PRESS  RELEASE   WHICH  ARE  NOT   HISTORICAL   DATA  ARE
FORWARD-LOOKING  STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES
OR OTHER  FACTORS  NOT  UNDER THE  COMPANY'S  CONTROL,  WHICH  MAY CAUSE  ACTUAL
RESULTS,  PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY  DIFFERENT
FROM  THE  RESULTS,   PERFORMANCE  OR  OTHER   EXPECTATIONS   IMPLIED  BY  THESE
FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE
DETAILED IN THE  COMPANY'S  PERIODIC  FILINGS WITH THE  SECURITIES  AND EXCHANGE
COMMISSION.


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