Cubic Relocates Orlando Office and Top Executive.

Business Editors

SAN DIEGO & ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 12, 2002

In a strategic move to enhance the company's responsiveness to its U.S. military customers, Cubic Corp. (AMEX:CUB) recently relocated its Orlando, Fla., office to spacious new quarters and transferred a top executive from San Diego to Orlando to round out the Orlando management team.

"With this move, we are laying the foundation for stronger business relationships in the entire Southeast region," said Gerald Dinkel, president and CEO of Cubic Defense Applications group. "This expansion shows our commitment to our current customers in Florida and desire to win new business there, particularly in the military simulations community."

Dinkel noted that Florida is home to many of Cubic's most valued customers.

Cubic has provided its advanced laser-based combat training systems to the U.S. Army Simulation, Training & Instrumentation Command (STRICOM), and has several contracts with the Naval Air Warfare Center Training Systems Division (NAWCTSD) for instructional support, operation and maintenance of aviation, warship and submarine simulators. Cubic has a long relationship with the U.S. Air Force in Florida, particularly with Eglin Air Force Base, and plans to pursue business opportunities with other defense customers in the region.

Richard D. Koon, vice president and general manager of Cubic Worldwide Technical Services division, recently transferred his executive office from Cubic's headquarters in San Diego to the company's new office at 12000 Research Parkway, Suite 408, Orlando.

Koon will continue to lead the Worldwide Technical Services division from his new location and will work with Gary Washam, director of Southeast Operations, to help increase Cubic's business on the East Coast.

"My hope is that this move will help us build better customer relationships," Koon said. "The Worldwide Technical Services division, which I have the privilege to lead, has developed a special formula for finding ways to go the extra mile for our customers, especially in times of war. I am honored that those experiences have earned me the opportunity to assist in our Orlando efforts.

"Cubic provides current, real-world training support to the Army, Navy, Air Force and Marines every day at 35 installations around the globe," Koon added. "We routinely respond to immediate requests to support intense combat training scenarios for electronic warfare, air-to-air and air-to-ground combat, and for operating some of the world's most complex military equipment. We stand ready to support the mission-critical training needs of today, tomorrow and the future for America's fighting men and women."

The full address of the new site is 12000 Research Parkway, Suite 408, Orlando, Fla. 32826. The phone and fax numbers will remain the same: 407/273-5500 phone; 407/275-0200 fax.

The Cubic Defense Applications group, one of Cubic's two major segments, produces instrumented air and ground combat training systems, battle command training, simulations and simulation support for U.S. and allied military forces. The group also produces high technology avionics, data links and communications products for government and commercial customers, and a wide range of technical and logistics services. 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.