SAN DIEGO, (BUSINESS WIRE), June 9, 2003–San Diego-based Cubic Corp. (AMEX:CUB) announced its transportation subsidiary has received a $37.1 million contract to provide a new high-tech automatic fare collection system for the Port Authority Trans-Hudson (PATH) rapid-transit rail system.

Under the contract from PATH, a subsidiary of The Port Authority of New York and New Jersey, Cubic is providing new “open system” Smart Card technology that will be integrated with New York City Transit’s (NYCT) MetroCard^SM system.

The system ultimately will allow rail commuters to pay for their PATH rides with the soon-to-be-available Smart Card, or MetroCard. The system will be introduced at the temporary World Trade Center PATH Station, which is scheduled to open in November.

Cubic Transportation Systems is the world’s largest provider of integrated electronic ticketing systems and has smart card contracts for public transit systems in North America, Europe and Asia. Every year, nearly 10 billion people use Cubic systems in more than 40 major markets in cities on five continents, including London, Washington, D.C., Hong Kong, Chicago, New York, Guangzhou, Shanghai, Atlanta, San Francisco, Singapore and Miami. As part of the TranSys consortium, Cubic also supplied the entire automated fare collection system including smart cards for the London PRESTIGE project.

The corporation’s other major segment, Cubic Defense Applications, provides instrumented air and ground combat training systems, battle command training, simulations and simulation support for U.S. and allied military forces. The group also produces high technology avionics, data links and communications products for government and commercial customers, and a wide range of technical and logistics services. For more information about Cubic, see the company’s Web site at http://www.cubic.com.

Contact

Cubic Corp., San Diego
Jae Lande, 858/505-2642
jae.lande@cubic.com