Cubic wins opportunity to bid on $800 million
in NAVAIR support contracts

SAN DIEGO, Calif. – April 5, 2005 -- The Naval Air Systems Command (NAVAIR) has awarded the defense segment of Cubic Corporation (AMEX:CUB) an opportunity to bid for up to $800 million in contracts over the next five years under the Fielded Training Systems Support II (FTSS II) program.

Cubic is one of 11 companies chosen to compete under the new FTSS II ceiling-priced, indefinite delivery/indefinite quantity (ID/IQ) multiple contract award. Starting in April 2005, the companies are eligible to supply a full range of support services to the Navy and Marine Corps at training sites around the world. The support can include Contractor Operation and Maintenance Services, Contract Instruction Services, Training Device Relocations, Training Device/Equipment Modifications, Instructional Systems Development, Training Systems Management, and In-Service Engineering Office and other support, including U.S.-approved Foreign Military Sales.

Cubic’s Worldwide Technical Services Division, a unit of the Mission Support Business Unit, is an incumbent on the current FTSS I contract, which was awarded in 2000. That contract has brought Cubic more than $100 million in revenues over its five-year life. Under FTSS I, Cubic has provided flight instructors, flight simulator instructors and operations & maintenance (O&M) services for motion simulators and UAVs at Navy and Marine Corps installations on the Eastern Seaboard, including Naval Air Station Oceana, Va.; NAS Norfolk, Va; NAS Jacksonville, Fla.; NAS Mayport, Fla.; NAS North Island, San Diego, Calif.; Marine Corps Air Facility Quantico, Va.; Marine Corps Air Station Cherry Point, N.C.; MCAS New River, N.C.; MCAS Beaufort, S.C.; and Naval Outlying Field Choctaw, Fla.. The instructors and O&M workers support training activities for Navy and Marine Corp personnel who fly fighter, anti-submarine warfare and reconnaissance aircraft; as well as helicopters and unmanned aerial vehicles.

“This was an extremely important contract for my division to win, so we can work toward retaining our Navy business base, and also have the chance to bid for new locations,” said Dick Koon, vice president and general manager of the Worldwide Technical Services Division.

The Worldwide Technical Services Division is part of the Cubic Defense Applications group, 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.