Press Release



	Cubic to Deliver Automated Ticketing System for BC Ferries Pilot Project SAN DIEGO, Calif., March 31, 2004 - Cubic Transportation Systems, Inc., a subsidiary of San Diego-based Cubic Corporation (AMEX:CUB) has received a contract for a pilot project for an automated self-ticketing system for BC Ferries of British Columbia, Canada. The fare payment system will be cashless, which will speed up boarding times for foot passengers of one of the largest ferry transportation services in the world. Cubic will deploy its Express Vendor, a state-of-the-art ticket vending machine, which accepts credit card-only payment and issues a paper receipt and boarding pass. The Vendor will give foot passengers more places to purchase their boarding passes, and reduce lines during peak periods, where both cash and credit card payment are accepted. The Express Vendor is a proven system with more than 600 in operation in New York. They will be installed at the BC Ferries' Tsawwassen and Swartz Bay terminals. Designed for wall-mounting or as free-standing units, the Express Vendors also feature user-friendly interfaces and can be programmed in up to eight languages - a highly popular feature in culturally diverse cities and tourist destinations. Braille and audio assistance also are included for disabled passenger interaction. The self-ticketing project will run from July through November 2004. Pilot feedback from both employees and customers will be evaluated as part of BC Ferries' ongoing initiative to improve customer service. Since its start in 1960 as a two-vessel, two-terminal operation, BC Ferries now operates a fleet of 35 vessels serving more than 45 ports of call along the British Columbia coast. 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, 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 atwww.cubic.com.

Cubic to Deliver Automated Ticketing System for
BC Ferries Pilot Project

SAN DIEGO, Calif., March 31, 2004 - Cubic Transportation Systems, Inc., a subsidiary of San Diego-based Cubic Corporation (AMEX:CUB) has received a contract for a pilot project for an automated self-ticketing system for BC Ferries of British Columbia, Canada. The fare payment system will be cashless, which will speed up boarding times for foot passengers of one of the largest ferry transportation services in the world.

Cubic will deploy its Express Vendor, a state-of-the-art ticket vending machine, which accepts credit card-only payment and issues a paper receipt and boarding pass. The Vendor will give foot passengers more places to purchase their boarding passes, and reduce lines during peak periods, where both cash and credit card payment are accepted. The Express Vendor is a proven system with more than 600 in operation in New York. They will be installed at the BC Ferries' Tsawwassen and Swartz Bay terminals.

Designed for wall-mounting or as free-standing units, the Express Vendors also feature user-friendly interfaces and can be programmed in up to eight languages - a highly popular feature in culturally diverse cities and tourist destinations. Braille and audio assistance also are included for disabled passenger interaction.

The self-ticketing project will run from July through November 2004. Pilot feedback from both employees and customers will be evaluated as part of BC Ferries' ongoing initiative to improve customer service.
Since its start in 1960 as a two-vessel, two-terminal operation, BC Ferries now operates a fleet of 35 vessels serving more than 45 ports of call along the British Columbia coast.

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, 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 atwww.cubic.com.