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Cubic Awarded $8.6 Million Contract for U.S. Navy Simulator Operation and Maintenance


SAN DIEGO, Apr 10, 2002 (BUSINESS WIRE) -- Cubic Corp. (AMEX: CUB) has received
a five-year, $8.6 million contract to provide operation and maintenance services
for the U.S. Navy`s S-3 Aviation Simulators at San Diego`s North Island Naval
Station and the Jacksonville Naval Air Station in Florida.

The new contract is the sixth win for Cubic under an Indefinite
Delivery/Indefinite Quantity (ID-IQ) program, wherein a select group of vendors
prequalified two years ago to compete over a five-year period for contracts
potentially valued at $300 million. With the new award, Cubic`s Worldwide
Technical Services division, part of the corporation`s Defense Applications
Group, has won contracts worth more than $45 million out of the $147 million in
taskings offered thus far under this program.

Cubic`s Worldwide Technical Services division installs, operates and maintains
military aviation, surface and subsurface training systems, and ground and air
combat ranges at 26 U.S. sites and in seven international locations. The
division also contracts with electronics and commercial customers, providing
operation and maintenance services for a variety of training systems, including
firefighter training centers and electronic warfare training ranges.

"We are proud that the Navy has selected us to provide these services," said
Vice President and General Manager Richard Koon. "We are winning this new award
as the incumbent, having initially performed these services successfully up to
this point under a separate contract awarded to us four and a half years ago."

Part of the work Cubic performed under the previous contract was the successful
relocation of several very large simulators, a difficult and challenging task.

"This new award is a real vote of confidence, validating that the Navy trusts
our expertise and commitment to customer service," said Program Director Al
Hurst.

Work on the new contract will begin in June 2002.

The Cubic Defense Applications group, one of Cubic`s two major segments,
produces instrumented air and ground combat training systems, battle command
training, simulations and simulation support for U.S. and allied military
forces. The group also produces high technology avionics, data links and
communications products for government and commercial customers, and a wide
range of technical and logistics services. 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` Web site at www.cubic.com.
 
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