$$$ READY 2 RUN $$$ (Free Zone Version)

[Alex Chory]

a little late on this one but worth the watch for a pullback

and of course further DD
JMO
$$$


http://stockcharts.com/def/servlet/SC.web?c=BVRSF,uu[w,a]daclyyay[db][pb18!d20,2!f][vc60][iUe12,26,9...

Press Release Source: BVR Systems (1998) Ltd.


BVR Systems Receives $1.8M Payment as Part of the Cooperation Agreement with the Israeli Aircraft Industry
Tuesday September 20, 5:26 am ET


ROSH HA'AYIN, Israel, September 20 /PRNewswire-FirstCall/ -- BVR Systems (1998) Ltd. (OTC Bulletin Board: BVRSF - News), a diversified world leader in advanced military training and simulation systems, today announced the receipt of the sum of US$1.8 million, as part of the Cooperation Agreement announced in August 11th, 2005 with the MLM Division of Israeli Aircraft Industries Ltd. (IAI/MLM), a world leader in defense and civil aerospace technology.

This is the first milestone in the said Cooperation Agreement. The cooperation agreement includes further consideration due to BVR in the amount of US$1.3 million that will be paid in two steps, when additional business is received by MLM as a result of the newly expanded Agreement. In addition, MLM will contract to BVR engineering work valued at US$4 million in the coming two years, further strengthening the cooperation between the companies.

Other benefits from the Cooperation Agreement for both parties include mutual royalties for the respective use of proprietary rights as well as work share from future business received by MLM and BVR.

BVR Systems' Chief Executive Officer, Ilan Gillies, commented: "This is the first step in the implementation of this strategic cooperation. I trust that diligent implementation of the Agreement will result in increased business to both parties". "BVR's strategy includes leveraging our proprietary rights as well as our superior solutions to increase top line revenue as well as profit. This agreement corresponds directly with this strategy." added Mr. Gillies.

About BVR Systems

BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.


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

Contact:
Ilan Gillies - CEO
BVR Systems (1998) Ltd.
Tel [phone]

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of BVR only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for BVR's products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of BVR to differ materially from those contemplated in such forward-looking statements. BVR undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting BVR, reference is made to BVR's reports filed from time to time with the Securities and Exchange Commission.




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Source: BVR Systems (1998) Ltd.