Cubic Wins Contract for a New Training System for the South Korean Army.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Feb. 19, 2001

Cubic Defense Systems, a subsidiary of San Diego-based Cubic Corp. (AMEX:CUB), has been awarded an $18.8 million subcontract by Ssangyong Information & Communications Corp. (SICC) of Seoul Korea to provide the Korean Army Training and Doctrine Command (TRADOC) of the Republic of Korea a new tactical engagement simulation training system for the South Korean army.

"This partnership demonstrates Cubic's commitment to expand into international markets as well as our allies' faith in our ability to provide world-class high tech combat training systems for their armed forces," said Bruce Roberts, president, Cubic Defense Systems.

Cubic's advanced training system will include communications equipment to be used between combat personnel and vehicles. The after action review technology will incorporate both direct fire and area weapons effects, allowing the SICC-Cubic team to move into emerging Korean armed forces combat training areas, including combined arms and urban training.

Today, military customers on five continents use Cubic systems for training as well as combat and peacekeeping missions. Cubic's fiscal year 2000 combat training systems backlog includes projects in the United Kingdom, Taiwan, Canada, the Netherlands and Kuwait.