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RADA Signed a $1,270,000 Contract With a Strategic Customer to Provide Avionics Units to Unmanned Aerial Vehicle

RADA Signed a $1,270,000 Contract With a Strategic Customer to Provide Avionics Units to Unmanned Aerial Vehicle

FARNBOROUGH, England, July 19 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. announced today that it has received a P.O. from a strategic customer to provide various avionics systems to an Unmanned Aerial Vehicle. Contract value, which exceeds $1,270,000, covers development and supply of prototype units.

This contract further increases the number of avionics units provided by RADA to various advanced UAV programs and positions RADA as a major supplier of UAV avionics.

Commenting on the contract, Major General (Ret.) Herzle Bodinger, RADA's CEO said, "We are proud to be one of the main providers of avionics units to modern UAVs, both in Israel and in the world."

About RADA

RADA Electronic Industries Ltd. is an Israel based company involved in the military and commercial aerospace industries. The Company specializes in Avionics systems (Digital Video Recorders, Ground Debriefing Stations, Stores Management Systems, Flight Data Recorders, Inertial Navigation Systems), Trainers Upgrades, Avionics systems for the UAV market, and Electro optic cameras for airplanes and armored vehicles.

Note: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risk uncertainties and other factors include, but are not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission.

Company Contact: Elan Sigal (Chief Financial Officer) Tel: +972-9-892-1129 [email protected]

RADA Electronic Industries Ltd.

CONTACT: Elan Sigal (Chief Financial Officer), Tel: +972-9-892-1129,
[email protected]

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