RADA Electronic Industries Ltd. (RADI)

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RADA Electronic Industries Ltd. Announces CEO Resignation
Thursday June 1, 9:00 am ET

NETANYA, Israel, June 1 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. (NASDAQ: RADI - News) announced today that its Board of Directors has accepted the resignation of Adar Azancot, the Company's Chief Executive Officer, after five years of service in that position. Mr. Azancot 's resignation is effective as of June 1, 2006.

Major General (Res.) Herzle Bodinger, RADA's President and Chairman of the Board of Directors will assume the CEO position and Mr. Azancot has agreed to continue to support the Company for the next three months.

Commenting on the resignation, Mr. Bodinger stated: "During the past five years, Adar, as CEO, led the Company through its turnaround and restructuring and brought RADA to its current position as a prime provider of avionic systems. Under Adar's leadership, the Company has developed many core technologies that provide answers to the defense customers' operational needs in Israel and worldwide. I would like to thank Adar, on behalf of our Board of Directors, for his contribution and devotion to RADA during the past nine years and for bringing RADA to a position where it is ready to meet its future challenges."

Mr. Azancot commented: "As a young CEO I had the privilege to be part of a talented group of people and to build a small and unique company that is part of the defense industry in Israel. In the past three years the Company accomplished major technological achievements in the area of avionics for fighters, helicopters and UAVs. I hope that in the near future the Company will find the necessary resources to turn these technological achievements into economic success."

http://biz.yahoo.com/prnews/060601/ukw023.html?.v=20

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