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Seymour Jones, Professor
of Accounting at NYU, Elected to Arotech’s Board of Directors
Professor Jones to Head Arotech
Audit Committee
July
12, 2005 - Arotech Corporation (NasdaqNM: ARTX) announced today
the election of New York University Stern School of Business accounting
expert Professor Seymour Jones, to its Board of Directors.
Professor Jones joins Arotech’s Board
with a rich history in the fields of accounting and economics. For
the past ten years, he has been with the New York University Stern
School of Business, and is currently a clinical professor of accounting,
teaching courses in auditing, tax and legal aspects of entrepreneurship,
international accounting and forensic accounting. Professor Jones
is also the Associate Director of the Ross Institute of Accounting
Research at Stern School of Business. His primary research areas
include audit committees, auditing, entrepreneurship, financial
reporting, and fraud.
Professor Jones has been the principal author
of numerous books, including Conflict of Interest, The
Cooper & Lybrand Guide to Growing Your Business, The
Emerging Business and The Bankers Guide to Audit Reports and Financial
Statements. Prior to joining NYU Stern, Seymour Jones, a certified
public accountant in New York State, was senior partner at Coopers
& Lybrand and at S.D. Leidesdorf & Co. . He received a B.A.
in economics from City College, City University of New York, and
an M.B.A. from NYU Stern.
“We are delighted to welcome Professor
Jones to our Board of Directors,” said Robert S. Ehrlich,
Chairman and CEO of Arotech. “In these days of increased accounting
scrutiny, we look forward to having the benefits of his expertise
in our efforts to comply with all of the new regulations and enrich
our accounting and auditing processes.”
Commenting on his appointment, Professor Jones
said: “I am very impressed by Arotech’s transformation
in recent years. Arotech has established a solid portfolio of leading
edge products that are well-suited to the world’s demanding
defense and security requirements, particularly in the wake of recent
terror events. I look forward to the opportunity to being part of
this dynamic Company.”
About Arotech Corporation
Arotech Corporation is a leading provider of
quality defense and security products for the military, law enforcement
and homeland security markets, including multimedia interactive
simulators/trainers, lightweight armoring and advanced zinc-air
and lithium batteries and chargers. Arotech operates through three
major business divisions: Armor, Simulation and Security and Batteries
and Power Systems.
Arotech is incorporated in Delaware, with corporate
offices in Auburn, Alabama and research, development and production
subsidiaries in Alabama, Colorado, Michigan, California 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, in whole or in part, of contracts
or of purchase orders; and other risk factors detailed in Arotech’s
most recent Annual Report on Form 10-K for the fiscal year ended
December 31, 2004, and other filings 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.
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