com Interactive Entertainment AG."

About Elbit Vision Systems (EVS):

EVS offers a broad portfolio of automatic in-line inspection and
quality monitoring systems used to improve product quality and
increase production efficiency. The Company's Microelectronic Division
provides state-of-the-art optical and laser-based inspection and
correction systems for the manufacture of LCDs, FPDs and Bare Wafers. 3,328 -
Accounts payable and accruals:
Trade 2,450 651
Deferred income 789 78
Other 6,637 2 ,704
--------- --------
T o t a l current liabilities 14,758 4,599
--------- --------
LONG-TERM LIABILITIES:
Loans and other liabilities (net of current
maturities) 408 287
Liability for employee rights upon retirement 2,141 979
--------- --------
T o t a l long-term liabilities 2,549 1,266
--------- --------
COMMITMENTS AND CONTINGENT LIABILITIES
--------- --------
T o t a l liabilities 17,307 5,865
----- ---- --------

SHAREHOLDERS' EQUITY: 2,146(a) 2,376
--------- --------
T o t a l liabilities and shareholders'
equity 19,453 8,241
========= ========

(a) After reduction of $2,520 shares held in escrow

ELBIT VISION SYSTEMS LTD. dollars in thousands
(except per share data)
-------------------------------

REVENUES: 10,960 6,328 3 ,664 1,553
------- ------- ------- -------

COST OF REVENUES: 8,542 3,748 4,613 859
------- ------- ------- -------

GROSS PROFIT 2,418 2,580 (949) 694

RESEARCH AND DEVELOPMENT COSTS - net 2,456 1,431 884 259
SELLING , GENERAL AND ADMINISTRATIVE
EXPENSES:
Marketing and selling 3,527 1,598 1,007 479
General and administrative 2,153 637 1,072 39
------- ------- ------- -------
OPERATING LOSS (5,718) (1,086) (3,912) (83)
FINANCIAL INCOME (EXPENSES) - net (297) 60 (275 ) (56)
OTHER INCOME 116 47 (7) 21
------- ------- ------- -------
LOSS BEFORE TAXES ON INCOME (5 ,899) (979) (4,194) (118)
TAXES ON INCOME 6 3 2 -
------- ------- ------- -------
LOSS FOR THE YEAR (5,905) (982) (4,196) (118)
======= ======= ======= =======

LOSS PER SHARE - BASIC AND DILUTED (0.

naomh leitir

01 per share, for
the fourth quarter of 2003.1
million, the majority of which is expected to ship during 2005.evs.S.

leitir ir

10 per share for 2003. ScanMaster contributed
$2.co.

alta stair

Appointment of CEO

In Q4, Mr. 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 undertakes no obligation to update forward-looking statements to
reflect subsequently occurring events or circumstances .

Cosil le /Sports/ i mBarla

alta racha

16
per share, compared to a net loss of $118,000, or $0.

Safe Harbor:

This press release contains forward-looking statements.

campa rtas

Aerospace Writers/Business Editors

YOQNEAM, Israel----

Quarterly Revenues More than Double; Annual Revenues Up 73%;
Record $17. Yaky Yanay, Chief Financial Officer of
EVS.

leitir cumann

Net loss for 2004 was $5,905,000, or $0. 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. 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 .

peile cumann

LONDON, England, March 29 - FUN Technologies plc,
a leading provider of person-to-person skill gaming, exchange-betting
technology and online sports information, announced today that its CEO, Lorne
Abony, will be a keynote speaker at CIBC World Markets' upcoming "Global
Gaming + Gaming Technology Conference".
Revenues for the fiscal year ended December 31, 2004 were
$10,960,000 , an increase of 73% compared to $6,328,000 for fiscal
2003.

Comments of Management

"Our loss for the quarter reflects the completion of our
restructuring program, which has enabled us to enter 2005 with a much
leaner expense model," said Mr.

ionad cos

Mr.

arla leitir

The conference is being held on April 19, 2005 at Le Royal Meridien King
Edward Hotel in Toronto, Canada, and will feature presentations by eight of
the most influential executives in gaming from Europe and North America,
including Oscar Nieboer, Managing Director of Virgin Games; Lorne Weil,
Chairman, President + CEO of Scientific Games Corporation; and Norbert
Teufelberger, CEO + Co-Chairman of BETandWIN.

In Q3, the Company completed its acquisition of ScanMaster
Systems (IRT) which develops, manufactures and markets
ultrasonic inspection equipment for the automotive,
transportation and metal industries .
The Company's Industrial Division provides automatic optical
inspection (AOI) and non-destructive ultrasound inspection systems for
heavy manufacturing (automotive, aeronautics, steel and others ).10) (0.

alta sc

ionad campa

FUN Technologies CEO Lorne Abony to be a keynote speaker at international CIBC gaming conference

Zami Aberman, the Company's CEO for the past two years,
stepped down from his position, and the Board of Directors appointed
Mr. Menashe Shohat as the new CEO.
CONSOLIDATED BALANCE SHEETS

December 31
-------------------
2004 2003
--------- - --------
U.S.

lotto arla

Non Recurring Expenses and Expenses Related to the Company's
Acquisition Program

During 2004, the Company recorded expenses of $1,650,000 related
to the Company's acquisitions program and non recurring expenses of
$1,300 ,000 related to its efficiency program and other expenses.01)
======= ======= ======= =======

WEIGHTED AVERAGE NUMBER OF SHARES USED
IN COMPUTATION OF LOSS PER SHARE -
BASIC AND DILUTED (IN THOUSANDS) 18,724 10,175 25,682 10,175
======= ======= ======= =======

cumann leitir

32) (0.

teagmh alta

Acquisitions Program

In Q2, the Company acquired 51% of Yuravision Co. Ltd.

irt alta

Net loss for the fourth quarter of 2004 was $4,196,000, or $0. Shohat brings EVS 14 years of
experience in the inspection market , including 3 years as CEO of
ScanMaster during which he executed a successful turnaround, bringing
it to profitability. "With a significant level of firm orders in hand for all our
product lines , including a large portion from the Far East, we are
confident in our ability to increase revenues and achieve
profitability.

racha stair

Elbit Vision Systems Reports Financial Results for the 4th Quarter and Full Year 2004

, a
South Korea-based company which develops visual inspection
software and systems for the LCD industry, to position itself
for significant opportunities in China, India and other
regions in the Far East.il

ELBIT VISION SYSTEMS LTD. dollars in
thousands
------------------
Liabilities and shareholders' equity
CURRENT LIABILITIES:
Credit from banks 1,394 1,006
Current maturities of loan from shareholder 160 160
Credit from Cornell Capital Partners L.

teagmh irt

Approximately $8.S.

cos sc

Financial Results

Revenues for the fourth quarter of 2004 were $3,664,000, an
increase of 136% compared with $1,553,000 in the fourth quarter of
2003.32 per share, compared
to a net loss of $982,000, or $0. dollars in
thousands
-------------------
A s s e t s
CURRENT ASSETS:
Cash and cash equivalents 1,222 1,789
Restricted deposit 768 537
Accounts receivable:
Trade 2,287 1,021
Other 980 620
Inventories 4,682 3,139
--------- ---------
T o t a l current assets 9,939 7,106
--------- ---------
INVESTMENTS AND LONG-TERM RECEIVABLES:
Funds in respect of employee rights upon
retirement 1,389 622
Other long-term receivables 187 99
--------- ---------
1,576 721
--------- ---------
PROPERTY AND EQUIPMENT, net of accumulated
depreciation and amortization 1,057 414
--------- ---------
OTHER ASSETS AND DEFERRED CHARGES -
net of accumulated amortization:
Goodwill 2,448 -
Other intangible assets 4,090 -
Deferred charges 343 -
---------
6,881 -
--------- ---------
T o t a l assets 19,453 8,241
========= =========

December 31
------------------
2004 2003
--------- --------
U.

cumann cos

5 million of this backlog is from Far Eastern
customers.

chinn teagmh

This press release and other releases are available on
www.16) (0.

sc arla

1M Backlog Positions Company for Growth and Profitability

Elbit Vision Systems, Ltd.

Highlights of 2004

Record Backlog

In addition to booking $11 million in sales during 2004, the
Company has built a backlog of firm orders totaling as of today $17. EVS
maintains headquarters and manufacturing in Israel, R+D operations in
Israel and Korea, and offers global sales and support coverage.

rtas peile

CONSOLIDATED STATEMENTS OF OPERATIONS

12 months ended 3 months ended
December 31 December 31
--------------- ---------------
2004 2003 2004 2003
------- ------- ------- -------
U.

alta campa

(OTCBB:EVSNF), a leading provider of
automatic optical inspection and quality monitoring systems, today
announced its consolidated financial results for the fourth quarter
and fiscal year ended December 31, 2004. The loss for
2004 reflects non recurring expenses and expenses related to the
Company's acquisitions and efficiency program of approximately
$3,000 ,000 (see below).

campa irt

4 million of the Company's revenues for Q4, the first
complete quarter following its acquisition, and orders for its
systems account for more than $10 million of the Company 's
backlog.