Cubic's Technology Supports Chicago Transit Authority's New Chicago Card Plus.

Business Editors

SAN DIEGO & CHICAGO--(BUSINESS WIRE)--Jan. 29, 2004

Central computer system enhancements and engineering services from Cubic Transportation Systems Inc., a subsidiary of San Diego-based Cubic Corp. (AMEX:CUB), were instrumental in last week's launch of the Chicago Transit Authority (CTA)'s newest touch-and-go electronic farecard, Chicago Card Plus(TM). The new farecard offers customers the convenience of automatic reloading and online account management.

Chicago Card Plus can be used on CTA trains and buses as well as on Pace buses, a neighboring suburban bus operator. Cubic made modifications to the smart card data format and device software in all fare collection machines in CTA rail stations and on CTA and Pace buses so that the new card would be recognized by the fare collection system and function according to agency business rules.

Customers can sign up for the new card online, by phone, through the mail or in person at CTA's headquarters in the Merchandise Mart. Every Chicago Card Plus customer will have their account automatically reloaded by charges to their credit/debit cards or by using pre-tax dollars as part of the Transit Benefit program. Similar to the way Illinois' "I-Pass" works for toll road users, the account will be reloading when it hits $10 or when a 30-Day Pass is nearing the end of the 30 days.

"We are pleased that we can help the CTA expand its customer service offering through this account-based technology. Since launching the Chicago Card(TM), a stored-value electronic farecard, in 2002, the CTA has continued to leverage smart card technology to make taking public transit even more convenient for customers," said Richard Johnson, president and chief executive officer of Cubic Transportation Systems Inc.

New technology enhancements Cubic made to CTA's central computing system and infrastructure make it possible for the CTA to track and manage both the new and existing smart cards and other important data including "hot list" information about invalid, lost or stolen cards, protecting both customers and the CTA against misuse and fraud. The central computer also collects important ridership and revenue data vital to managing transit operations.

Cubic designed and implemented the technology for CTA's magnetic strip transit card in 1997, and three years ago expanded the system to accommodate the touch-and-go smart card technology, giving rail and customers a faster way to pay their fares.

Cubic Transportation Systems Inc. is the world's leading turnkey solution provider of electronic ticketing 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, which have been delivered for over 400 projects in 40 major markets on 5 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 at www.cubic.com.