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EVS' iBar Installations Achieve Milestone: Acceptance at Major Customers

CAESAREA, Israel, May 5, 2015 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTCBB:EVSNF), a global provider of vision technology for automatic surface inspection and in-line quality monitoring systems, announced today that two major European manufacturers and a leading US textile manufacturer have given formal acceptance on EVS' new product, iBar.

For over two decades, EVS has pioneered the science of camera-based automatic vision inspection for textile fabrics and technical webs. The latest breakthrough adds to this legacy the first truly automated, in-line, product and process monitoring solution for fabric formation machines. iBar was designed and built specifically for the harshest manufacturing environments in the new, high speed textile industry.

For the first time, EVS will be publicly demonstrating the iBar at the Techtextil exhibition, a leading international trade fair for technical textiles which will be held in Frankfurt, Germany, between May, 4-7 2015. The EVS booth is in Hall 3, Ebene 0, Booth D05.

Sam Cohen, CEO of EVS, commented, "We are very pleased that this tremendous new product is moving forward, with the first systems achieving acceptance at some of our major customers. These customers are leaders in their fields and are well known for their uncompromising approach to quality. Acceptance from these targeted customers is a key milestone in our land-and-expand strategy proving there is a great need for iBar among textile manufacturers."

"Following the initial iBar installations, we used the feedback we received from customers to make the necessary software modifications to broaden our marketing efforts. This week we will be demonstrating the product at the Techtextil exhibition, where some 50 of our customers will exhibit and many more potential iBar customers will be in attendance. This marks the graduation of the current iBar marketing from key targeted customers, to the broader textile market. We fully understand that expanding our markets will directly correlate to increased iBar sales and revenues throughout the year," concluded Mr. Cohen.

About Elbit Vision Systems Ltd. (EVS): www.evs.co.il

EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 800 customers, many of which are leading global companies.

This press release and other releases are available on www.evs.co.il

Safe Harbor Statement

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

CONTACT: Company Contact Information: Yaron Menashe, CFO Tel: +972 4 6107609 yaron@evs.co.il Investor Relations Contact: Ehud Helft, Kenny Green Tel: +1 646 201 9246 evs@gkir.com

Source:Elbit Vision Systems Ltd.