Cubic and Washington Metro Announce Sale of 100,000th Touchless SmarTrip Card.

Business Editors, City Desks, Transportation Writers

NOTE: Cubic Corporation's logo and photos illustrating the

SmartTrip(R) card in action relating to this story will be

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WASHINGTON--(BUSINESS WIRE)--Sept. 21, 2000

Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corporation (AMEX:CUB), and The Washington Metropolitan Area Transit Authority (WMATA) announced the number of SmarTrip(R) contactless fare cards sold reached 100,000 today.

The 100,000th card comes on the heels of successful Try Transit Week activities, where WMATA joined regional and national transportation agencies in support of the American Public Transportation Association (APTA)'s efforts to encourage the use of mass transportation.

The SmartTrip card, utilizing technology developed by Cubic, revolutionized mass transit fare collection in the U.S. when it was introduced to Metro commuters a little over one year ago. SmarTrip allows commuters to enter Metro trains by simply walking near a card reader, barely slowing their stride. It was the first contactless smart card to be introduced by a major mass transit system in the U.S.

If a SmarTrip card is misplaced, its stored value can be deleted and applied to a replacement card. The cards, sold at Metro-operated sales outlets and over the Internet, are honored at all Metro subway stations and park-and-ride facilities.

"We are very proud to have been involved with Metro executives as they worked with Washington, D.C. commuters to introduce this exciting technology," said Walter C. Zable, Cubic Transportation Systems president and chief executive officer. "The program was rolled out with little fanfare, but it was not long before SmarTrip began speaking for itself -- shaving valuable time off commuters' rides and giving them the convenience that 21st century commuters deserve."

The sale of the 100,000th card comes as WMATA and the Maryland Mass Transit Administration plan to expand the SmarTrip program throughout the Washington/Baltimore corridor, and as transit systems across the country consider "smart" fare collection technology procurements. This summer, the Chicago Transit Authority (CTA) introduced Cubic's contactless card technology to full-fare systemwide, offering a first-of-its kind intermodal, interagency card.

Cubic is the world's largest supplier of integrated ticketing and automated fare collection systems for mass transit, as well as the technology developer behind the Nextfare(TM) Solution Suite, a package of advanced tools that can be integrated into any automatic fare collection system. An example is Nextfare Express -- called SmartBenefits by WMATA -- which enables employers to securely and conveniently deliver transit fare products as part of their flexible benefits offering.

On an annual basis, at least 14 billion passengers pay for their mass transit rides using Cubic-designed payment systems. In addition to Washington, D.C., the firm supplied the nation's second smart card-based mass transit fare collection system, which was recently rolled out by the CTA. This new system is an intermodal, interagency program. Cubic also has installed turnkey systems around the world, including work in London, New York, Chicago, Atlanta, Hong Kong, Shanghai, and Sydney.