Press Release



	LONDON’S PUBLIC TRANSPORTATION SYSTEM RECEIVES TECHNOLOGY AWARD Cubic Instrumental in Developing System SAN DIEGO, Calif.—August 12, 2004--Cubic (AMEX:CUB) said today its London customer, Transport for London (TfL), received the prestigious “Modernizing Government Award” for its PRESTIGE public transport automated fare collection system and Oyster® card. PRESTIGE/Oyster was developed and provided by the TranSys Consortium led by Cubic Transportation Systems and EDS. In the consortium Cubic is responsible for design (system, hardware and software), manufacture, installation and maintenance of the entire system. EDS is responsible for operations. The Modernizing Government Award is one of several New Media 2004 awards made annually in the UK, sponsored by the New Statesman magazine. This particular award honors the project that contributed the most innovative information and communications technology to improve government efficiency and modernize services. PRESTIGE/Oyster was the unanimous 2004 selection from numerous candidate projects. The Oyster card is a rechargeable, reusable, London-wide public transport smart card. Introduced at the end of 2003, it enables travelers to pre-pay for tickets for any mode of public transportation, either online, at Tube stations, major rail ticket offices or London Travel Information Centres. At the start of each journey—and at the end for tube and train customers—cardholders put their card near the yellow card readers and the fare is automatically charged. A central database maintains details of the cardholder and journeys taken. Cubic, working through TranSys, will be supporting TfL in expanding and enhancing PRESTIGE/Oyster over the next 11 years of the franchise period. Many Train Operating Company (TOC) stations are currently PRESTIGE compatible, and of particular near term significance is the extending of PRESTIGE to additional TOC stations. This will be a significant step in achieving Cubic’s goal of providing a truly national system in the UK. Cubic has been TfL’s AFC supplier since 1979 (the agency was formerly known as London Transport), and since 1997 has been a major supplier to the British National Railways of AFC systems and services. Approximately one-half of Cubic Transportation Systems’ business and employees are in the UK. This business is being expanded not only in the UK but into continental Europe. Particular gains have been achieved in Scandinavia, and Cubic looks forward to further growth there. Cubic Transportation Systems is the world’s largest AFC provider with major systems in Washington/Baltimore/Northern VA, New York/New Jersey, Los Angeles, San Francisco, San Diego, Minneapolis/St. Paul, Vancouver, Singapore, Chicago, Houston, Atlanta, Miami, Bangkok, Brisbane, Sydney, Hong Kong, Scandinavia, and Monterey among others. Most of these systems are regional and intermodal. With the exception of Singapore and Hong Kong which have been modified by others, Cubic provided the entire system. Each of these systems has comprehensive central computer systems; all designed and produced by Cubic. 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

LONDON’S PUBLIC TRANSPORTATION SYSTEM RECEIVES
TECHNOLOGY AWARD
Cubic Instrumental in Developing System

SAN DIEGO, Calif.—August 12, 2004--Cubic (AMEX:CUB) said today its London customer, Transport for London (TfL), received the prestigious “Modernizing Government Award” for its PRESTIGE public transport automated fare collection system and Oyster® card.

PRESTIGE/Oyster was developed and provided by the TranSys Consortium led by Cubic Transportation Systems and EDS. In the consortium Cubic is responsible for design (system, hardware and software), manufacture, installation and maintenance of the entire system. EDS is responsible for operations.

The Modernizing Government Award is one of several New Media 2004 awards made annually in the UK, sponsored by the New Statesman magazine. This particular award honors the project that contributed the most innovative information and communications technology to improve government efficiency and modernize services. PRESTIGE/Oyster was the unanimous 2004 selection from numerous candidate projects.

The Oyster card is a rechargeable, reusable, London-wide public transport smart card. Introduced at the end of 2003, it enables travelers to pre-pay for tickets for any mode of public transportation, either online, at Tube stations, major rail ticket offices or London Travel Information Centres. At the start of each journey—and at the end for tube and train customers—cardholders put their card near the yellow card readers and the fare is automatically charged. A central database maintains details of the cardholder and journeys taken.

Cubic, working through TranSys, will be supporting TfL in expanding and enhancing PRESTIGE/Oyster over the next 11 years of the franchise period. Many Train Operating Company (TOC) stations are currently PRESTIGE compatible, and of particular near term significance is the extending of PRESTIGE to additional TOC stations. This will be a significant step in achieving Cubic’s goal of providing a truly national system in the UK.

Cubic has been TfL’s AFC supplier since 1979 (the agency was formerly known as London Transport), and since 1997 has been a major supplier to the British National Railways of AFC systems and services.

Approximately one-half of Cubic Transportation Systems’ business and employees are in the UK. This business is being expanded not only in the UK but into continental Europe. Particular gains have been achieved in Scandinavia, and Cubic looks forward to further growth there.

Cubic Transportation Systems is the world’s largest AFC provider with major systems in Washington/Baltimore/Northern VA, New York/New Jersey, Los Angeles, San Francisco, San Diego, Minneapolis/St. Paul, Vancouver, Singapore, Chicago, Houston, Atlanta, Miami, Bangkok, Brisbane, Sydney, Hong Kong, Scandinavia, and Monterey among others. Most of these systems are regional and intermodal. With the exception of Singapore and Hong Kong which have been modified by others, Cubic provided the entire system. Each of these systems has comprehensive central computer systems; all designed and produced by Cubic.

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