Cubic Corporation Board of Directors

SAN DIEGO, Calif., Oct. 19, 2007 – Cubic Corporation (AMEX: CUB) announced today that, as anticipated, the company has received a warning letter from The American Stock Exchange stating that the company is not in compliance with the independent board member majority required for companies listed with the Exchange.

As previously announced, Dr. Richard C. Atkinson – a member of the Cubic Corporation Board of Directors for 12 years – decided to resign as an independent director effective Oct. 1, 2007. Dr. Atkinson was one of five independent directors on Cubic’s nine-member Board.

Cubic has already interviewed two potential candidates for service as independent directors and fully expects to be in compliance before the Jan. 15, 2008 deadline set by the Exchange.

Cubic Corporation is the parent of two major segments: transportation and defense. The Cubic Transportation Systems group provides state-of-the-art mass transit solutions used by commuters around the globe. The Cubic Defense Applications group develops and integrates mission critical systems and services for warfighters at home and in the field.