Plasan Awarded Additional Contract for M-ATV Armor Kits

BENNINGTON, Vermont, December 23 - Plasan, a global leader in the field of combat-proven survivability and
armor solutions for vehicles, airborne platforms and personal protection,
today announced it has won an additional contract for the delivery of 400
M-ATV armor kits as sub-contractor to Oshkosh Defense. Plasan has already
delivered 3,200 M-ATV armor kits for the US$3.3 billion contract awarded by
U.S. Department of Defense to a team led by Wisconsin-based Oshkosh
Corporation and Plasan North America to produce 6,619 M-ATVs for deployment
in Afghanistan.

Plasan North America and its local sub-contractors have made
advance preparations to comply with strict composite specifications and a
tight manufacturing schedule. Through the application of the modular Kitted
Hull concept, developed by Plasan, all armor parts and components are sent to
Oshkosh where they are applied to the vehicle on the assembly line,
increasing manufacturing efficiency and reliability. Plasan's production
capabilities are complemented by a comprehensive supply chain that
encompasses suppliers of materials, equipment and solutions throughout the
U.S. This extensive network provides the flexibility to expand or reduce
production volumes according to demand.

Ms. Yael Viesel, Marketing and Business Director for North
America at Plasan, said: "This new order marks the sixth additional order for
armor kits in five months. These increased orders are a vote of confidence in
Plasan's proven track record of on-time delivery. Our goal is to provide the
best, most survivable solution for the war fighter. Our survivability systems
reflect the experience our designers and engineers have from both their
education and also from their time as soldiers."

About Plasan

Plasan provides customized survivability solutions for
tactical wheeled vehicles, aircraft, naval platforms, civilian armored
vehicles and personal protection. A recognized global leader and industry
veteran, Plasan's survivability solutions offer the optimal combination of
protection, payload, and cost by combining in-house R&D, design, prototyping
and manufacturing capabilities.

Plasan combines innovative survivability engineering and
design with advanced armor materials development. Its unique development
process is based on continuous interaction between the R&D and the Design &
Prototyping departments. During this process, Plasan combines
computer-generated analysis and simulations with real-time calibration and
ballistic test data. The effective combination of test and simulation data
enables improved simulation accuracy and performance, resulting in the
optimal survivability solution.

Plasan's engineers are unique in terms of their military
backgrounds and hands-on experience. As veterans of the Israel Defense Forces
they are familiar with soldiers' behavior during combat and share a common
language with the end user. This often contributes to the development of life
saving solutions.

Plasan's success is a combination of innovation, a high level
of commitment and a full range of in-house capabilities. As a preferred
supplier to the Israel Defense Forces and an approved supplier to ministries
of defense around the world, Plasan's solutions have been tried and tested by
dozens of armed forces in the most demanding battlefields such as Lebanon,
Iraq and Afghanistan.

    For more information please contact:
    Hadas Weizman,
    Media Relations Manager
    +972-542-872-110
    hadasw@plasan.com

For more information please contact: Hadas Weizman, Media Relations Manager, +972-542-872-110, hadasw at plasan.com