Press Release



	Cubic to Extend Highly Successful MetroCard System To Westchester County Bee-Line Buses Partnership Between Westchester County Transportation Department and MTA- New York City Transit Will Better Serve Riders NEW YORK, NY, December 5, 2006 — The transportation systems segment of Cubic Corporation (AMEX:CUB) has been awarded an $8.3 million contract from the MTA New York City Transit to extend the benefits and efficiencies of the highly successful MetroCard® fare payment system to all of the 390 buses operated by the Westchester County Department of Transportation (WCDOT). The MetroCard® system was developed by Cubic for MTA New York City Transit in the early 1990s and has been improved and extended ever since. In this extension to Westchester County, Cubic will provide multi-media payment processing equipment supporting MetroCard® to WCDOT. Integrated Fare Units (IFUs), which acept MetroCards and coins, will be installed in buses in the spring of 2007 providing Bee-Line passengers the convenience and benefits that other MetroCard users have. Cost efficiencies and speed of delivery are made possible by the proven Cubic technology and the existing MTA infrastructure. Using the central processing system delivered by Cubic under the original MetroCard® contract, NYC Transit will provide transaction processing and reporting services thus eliminating the need for WCDOT to acquire and operate a dedicated IT system. "Starting April 1, our Bee-Line passengers will be able to get all the benefits of MetroCard — including free transfers on NYC buses and subway plus many additional discounts," said Westchester County Executive Andy Spano. "It's a great partnership that will make regional travel very attractive. "Thanks to this partnership between the Westerchester County Department of Transportation and MTA New York City Transit, Cubic can extend the convenience and value of the MetroCard® automated fare collection system to Westerchester residents. We will continue working with our partners in government on our shared vision of a seamless regional mass transit fare collection system throughout the Metropolitan Area," said Richard Efland, President and CEO of Cubic Transportation Systems. The Cubic provided MetroCard® system is the nation's largest integrated fare system allowing a common fare card to be accepted by four participating regional transit operators. Agencies participating in the MetroCard® network include New York City Transit (buses and subway), the Long Island Bus systems, the PATH subway system, and now, Westerchester County's Bee-Line System. Metrocard® not only introduced new levels of passenger convenience and economies to the MTA and its partners but also set new standards of reliability. The use of MetroCard® significantly reduces fare evasion, maintenance costs, money handling costs and contributed to increased ridership. Since launching the system in January 1994, there have been more than 16.3 billion MetroCard® trips taken on NYC Transit subways and buses. Westerchester's approximately 100,000 passengers will join the more than 7.5 million transit riders who use MetroCard® to facilitate their daily travel. With more than 67 routes that operate within the county and between Westchester and New York City, the new system will offer patron convenience and expanded opportunities for the agencies to promote linked journeys across operators. In support of the program, New York City Transit will provide back office support for the Westchester County DOT system. Under the contract, Cubic will manufacture, test, install, and provide warranty maintenance services for the Automated Fare Collection system at two WCDOT bus facilities. The IFUs will be provided with on-board software that will record the MetroCard® and cash payments collected by the fare boxes and will enable the Bee-Line buses to be fully integrated with the NYC Transit Automated Fare Collection system. These depots will be outfitted with electronic probing equipment that will extract the revenue transaction data and upload updated fare information from the IFUs. Modernized data collection and communications equipment with high-performance application software will be installed in the depot faciities to transmit revenue data to the NYC Transit central computer facility. NYC Transit will process the data for accounting, reconciliation and reporting, using the Cubic provided back-office system. About Cubic Corporation Cubic Corporation is the parent of two major segments: transportation and defense. Cubic Transportation Systems is the world's leading full-service systems provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic Transportation Systems has delivered over 400 automated fare collection projects in 40 major markets on five continents, and offers security solutions developed specifically for public transportation infrastructure. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support srvices and defense electronics. For more information about Cubic, please visit www.cubic.com. .

Cubic to Extend Highly Successful MetroCard System To Westchester
County Bee-Line Buses
Partnership Between Westchester County Transportation Department and MTA-
New York City Transit Will Better Serve Riders

NEW YORK, NY, December 5, 2006 — The transportation systems segment of Cubic Corporation (AMEX:CUB) has been awarded an $8.3 million contract from the MTA New York City Transit to extend the benefits and efficiencies of the highly successful MetroCard® fare payment system to all of the 390 buses operated by the Westchester County Department of Transportation (WCDOT).

The MetroCard® system was developed by Cubic for MTA New York City Transit in the early 1990s and has been improved and extended ever since. In this extension to Westchester County, Cubic will provide multi-media payment processing equipment supporting MetroCard® to WCDOT.

Integrated Fare Units (IFUs), which acept MetroCards and coins, will be installed in buses in the spring of 2007 providing Bee-Line passengers the convenience and benefits that other MetroCard users have. Cost efficiencies and speed of delivery are made possible by the proven Cubic technology and the existing MTA infrastructure. Using the central processing system delivered by Cubic under the original MetroCard® contract, NYC Transit will provide transaction processing and reporting services thus eliminating the need for WCDOT to acquire and operate a dedicated IT system.

"Starting April 1, our Bee-Line passengers will be able to get all the benefits of MetroCard — including free transfers on NYC buses and subway plus many additional discounts," said Westchester County Executive Andy Spano. "It's a great partnership that will make regional travel very attractive.

"Thanks to this partnership between the Westerchester County Department of Transportation and MTA New York City Transit, Cubic can extend the convenience and value of the MetroCard® automated fare collection system to Westerchester residents. We will continue working with our partners in government on our shared vision of a seamless regional mass transit fare collection system throughout the Metropolitan Area," said Richard Efland, President and CEO of Cubic Transportation Systems.

The Cubic provided MetroCard® system is the nation's largest integrated fare system allowing a common fare card to be accepted by four participating regional transit operators. Agencies participating in the MetroCard® network include New York City Transit (buses and subway), the Long Island Bus systems, the PATH subway system, and now, Westerchester County's Bee-Line System.

Metrocard® not only introduced new levels of passenger convenience and economies to the MTA and its partners but also set new standards of reliability. The use of MetroCard® significantly reduces fare evasion, maintenance costs, money handling costs and contributed to increased ridership.

Since launching the system in January 1994, there have been more than 16.3 billion MetroCard® trips taken on NYC Transit subways and buses. Westerchester's approximately 100,000 passengers will join the more than 7.5 million transit riders who use MetroCard® to facilitate their daily travel. With more than 67 routes that operate within the county and between Westchester and New York City, the new system will offer patron convenience and expanded opportunities for the agencies to promote linked journeys across operators. In support of the program, New York City Transit will provide back office support for the Westchester County DOT system.

Under the contract, Cubic will manufacture, test, install, and provide warranty maintenance services for the Automated Fare Collection system at two WCDOT bus facilities. The IFUs will be provided with on-board software that will record the MetroCard® and cash payments collected by the fare boxes and will enable the Bee-Line buses to be fully integrated with the NYC Transit Automated Fare Collection system. These depots will be outfitted with electronic probing equipment that will extract the revenue transaction data and upload updated fare information from the IFUs. Modernized data collection and communications equipment with high-performance application software will be installed in the depot faciities to transmit revenue data to the NYC Transit central computer facility. NYC Transit will process the data for accounting, reconciliation and reporting, using the Cubic provided back-office system.

About Cubic Corporation
Cubic Corporation is the parent of two major segments: transportation and defense. Cubic Transportation Systems is the world's leading full-service systems provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking.

Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic Transportation Systems has delivered over 400 automated fare collection projects in 40 major markets on five continents, and offers security solutions developed specifically for public transportation infrastructure. The Cubic Defense Applications group is a world leader in realistic combat training systems, mission support srvices and defense electronics. For more information about Cubic, please visit www.cubic.com.
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