Market Overview

EVS Receives Over $600 Thousand in Follow-On iBar Orders


CAESAREA, Israel, Dec. 13, 2016 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTC: EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it has received follow-on orders for 35 iBar systems for an aggregate amount of over $600,000.

Sam Cohen, CEO of EVS, commented, "It is very encouraging to see key customers order additional iBar systems for their looms. As has been our vision from the inception of this product, as customers experience the real benefits that iBar brings, the results will necessitate the need for one on virtually every loom. As we continue to spread this technology with small initial sales, the path to substantial revenue growth is becoming even clearer, and these orders only confirm that vision."

About Elbit Vision Systems Ltd. (EVS):

EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency.  EVS' systems are used by over 800 customers, many of which are leading global companies.

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Safe Harbor Statement

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.  EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

Company Contact Information: Yaron Menashe, CFO Tel: +972 4 6107609 Investor Relations Contact: Ehud Helft Tel: +1 646 201 9246

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