Cubic Awarded Contract for Smart Card System for Bus and Rail Transport in Modena, Italy

SAN DIEGO–The Cubic Nordic branch of Cubic Transportation Systems Limited, a subsidiary of Cubic Corporation (AMEX:CUB), has received a 3,500,000 Euro (US $4.287 million) contract from Azienda Trasporti Collettivi e Mobilita (ATCM) S.p.A. in Modena, Italy, to build, install and maintain an advanced fare collection and revenue management system that will link bus and rail services to a common contactless smart card. In addition, ATCM awarded Cubic a five-year contract extension, valued at approximately 300,000 Euro (US$350,000) per year, on its existing service contract.

Under the new contract, Cubic will upgrade Italy’s first magnetics-based fare collection system, which was installed by Cubic Nordic in 1993, with its state-of-the-art smart card system. Cubic will deploy its ‘on-bus’ processing platform, consisting of a Driver Control Unit and validator, throughout ATCM’s bus fleet of 405 vehicles. This platform integrates, in one single device, automatic fare collection and intelligent transportation systems, such as GPS-based vehicle tracking, passenger counting, video surveillance and other transit management applications.

Cubic also will install 35 smart card validators at ATCM’s two train lines, which will allow commuters to pay for trips on bus or rail using a single smart card. Passengers will pay their fares on the station platform using the validators before the trains arrive instead of onboard the train.

Enhancements will also be added to the agency’s back office system, including the addition of the newest generation transit application software from Cubic’s Nextfare(TM) Central System suite. This software creates and manages all information related to the transaction including card types, prices, the format of the smart card data, ticket layout, system parameters and the network of bus route plans with stops and GPS coordinates.

Initially, a pilot of the new smart card-based system will launch in March 2005, with full-system operations by later in the year.

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, Houston, Atlanta, South Florida, Vancouver and Edmonton, Canada; Brisbane, Australia; Singapore; Bangkok, Thailand; and Scandinavia.

For more information about Cubic, see the company’s web site at www.cubic.com.