Cubic Fare Collection System Expands with Washington Metro Opening of

    Business Editors/Transportation Writers

    SAN DIEGO--(BUSINESS WIRE)--Jan. 11, 2005--Cubic Transportation Systems, Inc., a subsidiary of San Diego-based Cubic Corporation (AMEX:CUB) announced it has completed expansion of SmarTrip(R), the nation's first smart card-based fare collection system, on the new 3.1-mile extension of the Washington Metro's Blue Line that opened December 18.
    Cubic's system includes the backoffice central computer, software and communications, ticket vending and add-fare machines and faregates for the rail stations as well as parking devices for the new park-and-ride facilities at Morgan Boulevard and Largo Town Center, the two new stations constructed for the Metrorail extension.
    The extension opening represents the latest milestone in nearly 30 years of Cubic's ongoing service to WMATA as the agency's fare collection system provider, which began with delivery of the original magnetics-based system. In 1999, the Cubic-designed SmarTrip(R) system began service and today has more than 600,000 cardholders.
    "Congratulations to WMATA for their achievement, which for the first time pushes this landmark public transportation metro system beyond the capital beltway into Prince George's County, Md., where it will help stimulate economic development while protecting the environment and increasing mobility for the region's workers and residents," said Richard Johnson, president and chief executive officer of Cubic Transportation Systems, Inc. "We at Cubic are pleased to continue the regional expansion that will put SmarTrip(R) cards into every rider's hand."
    The Cubic-designed SmarTrip system is at the heart of a regional initiative representing about $60 million in contracts that Cubic has received since 2001. Under the initiative, Cubic is deploying an extensive network of backoffice system software infrastructure and equipment to ultimately join rail, parking and bus services across 16 public transportation agencies, including WMATA and participants in Maryland and Virginia, in what will be the nation's first interstate, intermodal smart card-based fare collection system.
    Cubic Transportation Systems, Inc., is the world's leading full-service solution provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Cubic's solutions and services include system design, central computer systems, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call centre services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.
    Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic has delivered over 400 projects in 40 major markets on five continents. Active projects include London, New York/New Jersey region, Washington, D.C./Baltimore/Virginia region, Los Angeles region, San Diego region, San Francisco, Minneapolis/St. Paul, Chicago, Houston, Atlanta, South Florida, Vancouver and Edmonton, Canada, Brisbane, Australia, Singapore, Bangkok, Thailand and Scandinavia.
    The corporation's other major segment, Cubic Defense Applications, provides realistic combat training systems for military forces as well as simulation, force modernization, educational services, operations & maintenance and manufacturing services. The group also supplies products and systems for C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance & Reconnaissance) applications, search and rescue avionics and radio communications for military and civil markets. For more information about Cubic, see the company's web site at www.cubic.com.

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CONTACT: Cubic Corp. Jae Lande, 858-505-2642 jae.lande@cubic.com

KEYWORD: CALIFORNIA MARYLAND INDUSTRY KEYWORD: HARDWARE TRANSPORTATION SOFTWARE PRODUCT SOURCE: Cubic Corp.

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