Cubic, AMTI team wins $53 million ID/IQ contract
To provide engineering, other services for C4ISR anti-terrorism efforts

SAN DIEGO, Calif. – June 21, 2005 -- Cubic Corporation (AMEX: CUB) announced that its defense segment is part of a team headed by Applied Marine Technology Inc. (AMTI) of Virginia Beach, Va., that received a $53 million indefinite-delivery/indefinite-quantity (ID/IQ) multiple award contract from the Space and Naval Warfare (SPAWAR) Systems Center, Charleston, S.C. The contract is for engineering, analytical, technical, and programmatic support services for Global War on Terrorism Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) systems and projects.

This one-year, cost-plus-incentive-fee performance-based contract includes four one-year option periods that, if exercised, would bring the cumulative value of the contract close to $272 million. Cubic is one of seven subcontractors to AMTI under the new contract. The company’s primary responsibility will be to supply training and analytical support. Cubic’s Operations Support Division, based in Hampton, Va., will perform the work, which is expected to be completed by May 2006. The Operations Support Division is part of the Mission Support Business Unit of the Cubic Defense Applications group.

“This contract award is Cubic’s second initiative with AMTI, a Virginia business that has played an increasingly important role in preparing federal, state and local governments to respond to potential terrorist attacks,” said Rich Bristow, vice president and general manager of Cubic’s Operations Support Division. “Cubic employees also supported AMTI in planning and executing the recently concluded TOPOFF 3 training exercises, which are sponsored by the Department of Homeland Security.”

The Cubic Defense Applications group is one of Cubic's two major segments. Cubic Defense Applications is a world leader in realistic combat training systems, mission support services and defense electronics. 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 website at www.cubic.com.