Cubic Awarded $16 Million to Provide MILES 2000 Training System at Ft. Polk, La.

SAN DIEGO -- The defense segment of Cubic Corporation (AMEX:CUB) has won a $16 million contract to provide additional Multiple Integrated Laser Engagement Systems, or MILES 2000, to U.S. Army troops at Fort Polk, La. The equipment will support training rotations at the Joint Readiness Training Center (JRTC) -- the U.S. Army's premier training center for light infantry and special operations units.

Under the contract, Cubic will provide MILES 2000 components for dismounted and antitank weapon systems. The orders will supplement 8,000 MILES 2000 systems that have been delivered to Fort Polk to date.

The Army's Program Executive Office for Simulation, Training and Instrumentation (PEO STRI) awarded the contract to Cubic through Tec-Masters, Inc. of Huntsville, Ala.

"The additional order demonstrates our customer's confidence in the MILES 2000 product and its tremendous training value to troops at JRTC as they prepare for deployment to Iraq," said Ray Barker, senior vice president of Cubic Defense Applications' Training Systems Business Unit. "The award also reinforces Cubic's position as the leading provider of laser-based tactical engagement simulation systems."

Cubic has delivered more than 60,000 MILES 2000 systems to customers worldwide since 1997. Over the past two years, the company has received approximately $100 million in orders for MILES 2000. The company is also supplying a next-generation MILES Individual Weapon System (IWS) to the U.S. Army as part of a $113 million five-year contract awarded in December.

MILES 2000 deliveries to JRTC will begin December 2005 and continue through May 2006. The deliveries include vests and simulators for weapons including M16A2/M4 rifles, M2 heavy machine guns, M24 sniper rifles and AT-4 weapons.

The Cubic Defense Applications group, one of Cubic Corporation's two major segments, is a world leader in realistic combat training systems, mission support services and defense electronics. The corporation's other major segment, Cubic Transportation Systems, designs and manufactures automatic fare collection systems for public mass transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.