SAN DIEGO, Calif. – January 19, 2012–The Bay Area-based Metropolitan Transit Commission has surpassed one million active Clipper® cards in circulation just 18 months after rebranding the card from TransLink to Clipper, making the contactless smart card fare collection system one of the fastest growing in the U.S. transit industry. In making the announcement, the agency credited the increasing number of participating transit operators as well as their collective customer education efforts for driving the growth, up 142 percent from the prior year. Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corporation (NYSE:CUB) delivered and operates the Clipper system.

“We’re really pleased about the numbers, and that word is getting out that it’s time to switch from paper to plastic,” MTC’s Clipper Program Senior Coordinator Jake Avidon said in the MTC announcement. To convert transit riders from old-style paper tickets to the modern Clipper card, participating agencies have been actively educating riders on the benefits, including the one-card convenience, the capability to add value online at https://www.clippercard.com/ClipperWeb/index.do and special fare discount programs for some riders.

“We’re excited for MTC and its customers that Clipper is winning over new fans who recognize how much easier it makes their commutes,” said Matt Newsome, Cubic’s vice president and regional director for the West Coast. “Clipper has something for everyone, particularly seniors, youth and the disabled who can benefit from discounted fares that are only available with the contactless Clipper card technology.”

Clipper is a regional fare collection system that utilizes the Clipper smart card for customers to add value to and pay their fares with one card on any of the regional services now linked via the Clipper system. Participating operators include the Bay Area Rapid Transit District, San Francisco Muni, AC Transit, CalTrain, SamTrans, Santa Clara Valley Transportation Authority and the Golden Gate Bus and Ferry system.

In 2009, Cubic took over the contract for the original TransLink regional fare collection system, and in less than a year, helped MTC launch the new Clipper system. Cubic operates the customer call center, Clipper Card fulfillment and distribution, technical help desk, the retail merchant network, and the transit benefits system for employer/employee management of transit subsidies.

Cubic Corporation (NYSE: CUB) is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems.

Cubic® Transportation Systems, Inc., is the world’s leading turnkey 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; Brisbane (Southeast Queensland) region, Australia; New York/New Jersey region; Washington, D.C /Baltimore/Virginia region; Los Angeles region; San Diego region; San Francisco region; Minneapolis/St. Paul; Chicago; Atlanta region; Miami (South Florida) region; Vancouver and Edmonton, Canada; Sydney (New South Wales), Australia; and Scandinavia.

Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services for U.S. and allied military and security forces. For more information about Cubic, see the company’s Web site at http://www.cubic.com.