Four More Counties in Sweden Join Regional Smart Card Transit Fare Collection System; ``Resekortet'' System Will Connect Rail and Bus Services Throughout Southern Sweden.

SAN DIEGO -- Cubic Transportation Systems Limited, a subsidiary of San Diego, Calif.-based Cubic Corporation (AMEX:CUB), has received contracts totaling approximately 73.3 million SEK or US$9 million from four additional counties in Southern Sweden to provide smart card fare collection systems that will link the counties to "Resekortet," the multi-modal smart card-based fare collection system that will connect rail and bus services throughout Southern Sweden.

This expands Cubic's contracts in Sweden to cover five counties, and increases the contract value to $31 million. These contracts were executed as options through Skanetrafiken, the transit operator for Skane, Sweden, the region's largest county.

Cubic is designing and delivering a system for Skanetrafiken that will connect all rail and bus fare collection operations for public transport in Skane through use of a common smart card for fare payment.

The four additional counties that have joined Resekortet are Blekinge, Kronoberg, Halland and Jonkoping.

Each of the counties will receive fare collection systems similar to Skane's, which will include software, a communications network, back office computer systems and equipment for processing fare collection on the buses and trains and at rail stations. The processing equipment comprises driver control units; smart card validators and ticket issuing modules for buses; and ticket vending machines, platform validators and handheld devices for rail.

All five counties -- Skane and the additional four -- will cooperate with the new contactless smart card fare system and will be able to provide complete interoperability within all the participating counties in Southern Sweden.

"By joining the regional system, each of the participating counties is making a commitment to greater access and convenience for their customers," said Nigel Bryant, managing director of Cubic Transportation Systems Limited. "Resekortet provides the infrastructure used in emerging smart card systems around the world for seamless fare collection and revenue management that will strengthen services in Southern Sweden."

These contracts serve as the most recent example of Cubic's presence and dedication to the Scandinavian transit industry. Cubic acquired the Danish company ScanPoint in 1994 and renamed it Cubic Nordic. ScanPoint had long been a major supplier of automatic fare collection systems in Scandinavia.

Cubic Transportation Systems, Inc. is the world's leading full-service systems provider of automated fare collection 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, back office computer systems, support equipment, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call center 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. Cubic has delivered over 400 projects in 40 major markets on five 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, Atlanta, Vancouver and Edmonton, Canada, Brisbane, Australia, Singapore, Bangkok, Thailand, China and Scandinavia.