Arotech Corporation to Report Year-End and Fourth Quarter 2002 Financials Tomorrow, February 27 at 7:00 AM EST

Conference Call Slated for Later That Same Day at 10:00 AM EST

February 26, 2003 - Arotech Corporation (NasdaqNM: ARTX), a provider of quality advanced zinc-air batteries, multimedia interactive simulators/trainers and lightweight armoring for the military, law enforcement and homeland security markets, will report its year-end and fourth quarter 2002 financials tomorrow, February 27, 2003, before Market open at 7:00 AM EST.

There will be an earnings conference call to discuss the financials later that same day at 10:00 AM EST. To take part in the conference call, please call 1 (888) 857-6929 (US) or +1 (719) 457-2600 (International) a few minutes before the 10:00 AM EST start time. As attendance is limited, please RSVP to Conrad Mir via e-mail, mir@arotech.com, or telephone, 1 (888) 996-4440 (US); +1 (646) 654-2109 (International).

For your convenience, an instant reply will be available Thursday February 27, 2003 at 1:00 PM EST until Saturday, March 1, 2003 at 8:00 PM EST. The replay telephone number is 1 (888) 203-1112 (US); +1 (719) 457-0820 (International). The confirmation number is 741032.

About Arotech Corporation

Arotech Corporation operates in three business subsidiaries: Electric Fuel Batteries -developing and manufacturing zinc-air batteries for military and homeland security applications; IES Interactive -multimedia training systems for law enforcement and paramilitary organizations; and MDT Armor -vehicle armoring for the military, industrial and private sectors. Electric Fuel Batteries also continues developing Zinc-Air batteries for public transportation, which could help reduce the nation's dependence on foreign oil while eliminating tailpipe emissions.

Arotech is incorporated in Delaware under the name "Electric Fuel Corporation" and has corporate and sales offices in New York and Denver with research, development and production subsidiaries in Alabama, Colorado and Israel.

Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal of purchase orders; significant future capital requirements; the Company's ability to quickly and smoothly execute the change in leadership as a result of its former CEO's resignation; and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2001, Arotech's most recent Quarterly Report on Form 10-Q, and other filings (under the name Electric Fuel Corporation) with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.