BVR Systems Anticipates Approximately $4.3 Million in EHUD(TM) ACMI Royalty Revenues

Apr 19, 2001, 01:00 ET from BVR Systems (1998) Ltd.

    ROSH HA'AYIN, Israel, April 19 /PRNewswire/ --
 BVR Systems (1998) Ltd. (Nasdaq:   BVRS), a diversified world leader in advanced
 defense training and simulation systems, today reported that it anticipates
 royalty revenues of approximately $4.3 million from the implementation of
 EHUD(TM) ACMI technology in several new projects recently awarded to a
 strategic partner of the Company.
     The anticipated royalty payments are part of a three-pronged business
 model adopted by BVR Systems in 1999 for its EHUD(TM) ACMI products. In
 certain countries BVR Systems acts independently as the prime contractor; in
 some countries the company works in cooperation with other major players, such
 as MLM, a division of Israel Aircraft Industries Ltd. (IAI) and Metric
 Systems; and in other designated countries the company receives royalties for
 the use of the EHUD(TM) ACMI technology.
     BVR Systems' cooperation with IAI has resulted in significant productive
 activities. The companies are currently working on several successful projects
 including one in Italy, the NATO Tactical Leadership Program (TLP) in Belgium,
 three ongoing projects in Germany and a project with the Israel Air Force.
     BVR Systems' largest ACMI project, contracted for $43 million, is
 currently in Korea.  In this contract BVR Systems is acting as prime
 contractor and working with Metric Systems, another major ACMI player. This is
 one of the most advanced, state-of-the-art ACMI projects in the world. Using
 BVR Systems' technical expertise, the customer is expected to gain a wide
 variety of real-time training, safety and debriefing features.
      Yoel Katzir, BVR Systems' CEO commented: "We are very pleased to see the
 fruits of BVR Systems' business model and cooperation with IAI. BVR Systems is
 very active in the ACMI market and continues to look forward to additional
 sources of income from its technology, including development of new products."
 
     BVR Systems (1998) Ltd., established in 1998 as an independent spin-off,
 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 contains forward-looking statements with respect to
 the Company's business, financial condition and results of operations. These
 forward-looking statements are based on the current expectations of the
 management of BVR Systems Ltd. only, and are subject to risk and
 uncertainties, including but not limited to the changes in technology and
 market requirements, decline in demand for the company'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 the Company to differ
 materially from those contemplated in such forward-looking statements. The
 Company 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 the company,
 reference is made to the Company's reports filed from time to time with the
 Securities and Exchange Commission.)
 
 

SOURCE BVR Systems (1998) Ltd.
    ROSH HA'AYIN, Israel, April 19 /PRNewswire/ --
 BVR Systems (1998) Ltd. (Nasdaq:   BVRS), a diversified world leader in advanced
 defense training and simulation systems, today reported that it anticipates
 royalty revenues of approximately $4.3 million from the implementation of
 EHUD(TM) ACMI technology in several new projects recently awarded to a
 strategic partner of the Company.
     The anticipated royalty payments are part of a three-pronged business
 model adopted by BVR Systems in 1999 for its EHUD(TM) ACMI products. In
 certain countries BVR Systems acts independently as the prime contractor; in
 some countries the company works in cooperation with other major players, such
 as MLM, a division of Israel Aircraft Industries Ltd. (IAI) and Metric
 Systems; and in other designated countries the company receives royalties for
 the use of the EHUD(TM) ACMI technology.
     BVR Systems' cooperation with IAI has resulted in significant productive
 activities. The companies are currently working on several successful projects
 including one in Italy, the NATO Tactical Leadership Program (TLP) in Belgium,
 three ongoing projects in Germany and a project with the Israel Air Force.
     BVR Systems' largest ACMI project, contracted for $43 million, is
 currently in Korea.  In this contract BVR Systems is acting as prime
 contractor and working with Metric Systems, another major ACMI player. This is
 one of the most advanced, state-of-the-art ACMI projects in the world. Using
 BVR Systems' technical expertise, the customer is expected to gain a wide
 variety of real-time training, safety and debriefing features.
      Yoel Katzir, BVR Systems' CEO commented: "We are very pleased to see the
 fruits of BVR Systems' business model and cooperation with IAI. BVR Systems is
 very active in the ACMI market and continues to look forward to additional
 sources of income from its technology, including development of new products."
 
     BVR Systems (1998) Ltd., established in 1998 as an independent spin-off,
 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 contains forward-looking statements with respect to
 the Company's business, financial condition and results of operations. These
 forward-looking statements are based on the current expectations of the
 management of BVR Systems Ltd. only, and are subject to risk and
 uncertainties, including but not limited to the changes in technology and
 market requirements, decline in demand for the company'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 the Company to differ
 materially from those contemplated in such forward-looking statements. The
 Company 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 the company,
 reference is made to the Company's reports filed from time to time with the
 Securities and Exchange Commission.)
 
 SOURCE  BVR Systems (1998) Ltd.