Lapis Technologies, Inc. Selects Grayling to Provide Strategic Investor Relations Counsel and Communications

EMERSON, NJ--(Marketwire - Sep 26, 2011) - Lapis Technologies, Inc. (PINKSHEETS: LPST), a provider of aerospace and defense technologies and solutions, announced the company has retained Grayling, a strategic communications consultancy, to provide investor relations and financial communications counsel.

Mr. David Lucatz, President of Lapis Technologies, commented, "We are delighted to announce our relationship with Grayling and look forward to strengthening and expanding our financial community activities and communications efforts aimed at raising the profile of Lapis Technologies with U.S. and international investors. As we continue to innovate and deploy a range of aerospace and defense solutions, with a focus on expanding the company's reach within the global markets, we are creating a solid platform for organic growth and M&A activities. I believe our partnership with Grayling will prove instrumental in helping us raise our visibility in the capital markets and fulfill our growth strategy."

Leslie Wolf-Creutzfeldt, Managing Director at Grayling, said, "We are pleased to start working with Lapis Technologies. With strong senior management, proprietary technology and an important joint venture in India, we believe that Lapis Technologies represents an interesting opportunity for investors, combining solid market and product line with an accelerated potential growth."

About Lapis Technologies, Inc.

Lapis Technologies, Inc. (PINKSHEETS: LPST) was formed in 2002 and is focused on becoming a major force in the aerospace and defense industries. The company's wholly owned subsidiary is Enertec Systems 2001 Ltd. Enertec Systems is an Israeli-based developer, manufacturer and provider of military and airborne systems, missiles command and control systems, simulators, automatic test equipment (ATE) and sophisticated power supplies, converters and other power conversion products. Lapis Technologies' operations are located in Israel and serve leading Israeli defense integrators in the market for both local Israeli and worldwide sales. Lapis Technologies is currently engaged in the formation of a new joint venture a leading Indian industrial group, for the formation of a manufacturing and marketing platform in India of products based on the Enertec Systems aerospace and defense technology and expertise. For more information online please visit: www.enertec.co.il

About Grayling

Grayling is a global communications consultancy focused on investor relations, public relations, public affairs as well as digital and events offerings with specialist services including CSR, environment and sustainability. The firm has over 1,000 professionals based in 70 offices across the United States, United Kingdom, Europe, Eurasia, the Middle East and Asia Pacific. For more information online please visit: www.grayling.com

Lapis Technologies, Inc. Forward-looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Such forward-looking statements are based on the current expectations and certain assumptions of Lapis Technologies' management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Lapis Technologies' control, affect Lapis Technologies' operations, performance, business strategy and results and could cause the actual results to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking statements contained in this press release. More detailed information about the risk factors affecting Lapis Technologies' performance is contained in Lapis Technologies' filings with the U.S. Securities and Exchange Commission ("SEC"), which are available on the SEC's website, www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analyses only as of the date hereof. Lapis Technologies neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments that differ from those anticipated.