Eviation Aircraft Ltd. (fka EVTNF)

[midastouch017]

BVR Systems (1998) Ltd. Reports an Investment of $3.6 Million in the Share Capital of the Company

Tuesday March 21, 3:42 am ET

ROSH HA'AYIN, Israel, March 21 /PRNewswire-FirstCall/ -- BVR Systems (1998) Ltd. (OTCBB: BVRSF.OB - News), a diversified world leader in advanced military training and simulation systems, today announced the investment of $3.6 million in the share capital of the Company in consideration for the issuance of 20,000,000 Ordinary Shares nominal value NIS 1.00 each of the Company, representing approximately 17% of the issued share capital of the Company, at a price per share of $0.18. The purchaser is an Israeli limited partnership led by Mr. Nir Dor.

In addition, the Company has issued to the purchaser three warrants each for the purchase of 6,000,000 Ordinary Shares nominal value NIS 1.00 each of the Company, with exercise prices of $0.36, $0.54 and $1.00, exercisable for a period of three years, with a mandatory exercise mechanism under certain conditions.

"We are excited with this major investment, which expresses confidence in BVR's vision, in the implementation of our strategy and in our ability to create value for our investors". "We are fully committed to achieve these goals" said BVR's Chairman Aviv Tzidon.

For more information visit the Company's web site at http://www.bvrsystems.com

http://biz.yahoo.com/prnews/060321/uktu002.html?.v=53

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