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Aryt Industries Ltd. -- Quarterly Report.

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Business Editors and Technology Writers

TEL-AVIV, Israel--(BUSINESS WIRE)--April 1, 2002

Aryt Industries Ltd. (OTCBB:ARYTF) (the "Company" or "Aryt"), announced its results from operations for the twelve months period ended December 31, 2001.

Aryt is a managing holding company, doing business through its three divisions; the Defence Division, the Technological Division and the Medical Division.

The Defence Division includes ARYT SYSTEMS LTD. ("Aryt Systems") (85%) and its subsidiaries: RESHEF TECHNOLOGIES LTD. ("Reshef") (90%), AMCORAM LTD. ("Amcoram") (100%) and C.T.S. Ltd., Amcoram's subsidiary ("CTS") (51%).

The Technological Division includes SENSOTECH LTD. ("Sensotech") (53%) and SENSOTECH AUTOMOTIVE LTD., Sensotech's subsidiary (100%), OFFICECORE.COM LTD. (45%) ("Officecore"), VOICE DIARY LTD. ("Voice Diary") (64%) and Sky Dart Ltd. ("Sky Dart") (51%).

The Medical division includes ELSCINTEC SYSTEMS LTD. ("ElscinTec") (50%), SYGMED LTD. ("Sygmed") (28%) and Aryt Medical Ltd. (100%).

Aryt carries out its operations through its consolidated companies and associated companies wherein Aryt takes an active rule in their management and which are included in Aryt's financial statements on the equity basis.

Presently Aryt endeavours to enhance the business and to increase the value of its divisions as well as examining various companies and activities synergetic to its own.

THE DEFENCE DIVISION

Aryt Systems Ltd. is a public company which shares are traded in the Tel-Aviv Stock exchange. Aryt Systems is engaged through its subsidiaries Reshef and Amcoram in the development, manufacture and sale of advanced military equipment highly reputable in the local market and world wide.

Reshef Technologies Ltd., a private company, engaged in the development, manufacture and sale of electronic fuses for the military market, and in the manufacture of laser warning systems and computerised firing ranges for Amcoram. In March 2001, Reshef and Soltam System Ltd. ("Soltam") signed a marketing and distribution agreement whereby Soltam which owns 10% of Reshef's outstanding shares may increase its holdings in Reshef to 50%, but in any event not more than Aryt Systems' share in Reshef, in consideration of Soltam's marketing and sales of Reshef's products. Aryt's management believes that the co-operation with Soltam will contribute to Reshef's international marketing efforts resulting in increase of sales.

Amcoram Ltd., a private company, which is engaged in the development and sale of computerised firing ranges and simulators for the military market. The systems are intended for indoor and field training and constitute a complete platform for the military training of the individual soldier to a company of infantry or armoured corps. The systems are characterised by the integration of software and hardware designed to client's specifications. All these training systems are developed and maintained by Amcoram according to long term service contracts. Amcoram's products are manufactured in Sderot, Israel, by Amcoram and by Reshef, as a subcontractor.

C.T.S., Ltd., a private company, possessing the rights for military applications of a patented technology utilizing lasers with wireless activation method and receipt of a feedback from the hit target. This patent provides a technological platform for various training systems. The rights to use this patent were purchased from Sky Dart Ltd., an affiliated company. Presently CTS does not have any sales revenues.

THE TECHNOLOGICAL DIVISION

Sensotech Ltd., is a private company engaged in the development, manufacture and sale of intelligent, ultrasonic security sensors based on unique proprietary and patented technology.

Sensotech has developed security sensors intended for the automotive industry ("Accessor"), for the public transportation ("Class"), for elevators ("Sensolift") and for robotics and automatization ("Robosense"), as well as additional products based on Sensotech's unique technology.

In 2001 Sensotech has commenced manufacturing and sale of...

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