SOURCE: Cubic Corporation

Cubic Corporation

November 24, 2009 09:00 ET

Cubic Selected for Germany's First Electronic Ticketing System

LONDON--(Marketwire - November 24, 2009) - Rhein Main Services (RMS), on behalf of the Transit Authority Rhein-Main-Verkehrsverbund (RMV), has selected Cubic Deutschland to develop both the initial stage and central core of Germany's first large-scale electronic ticketing system. Cubic Deutschland is part of the transportation segment of Cubic Corporation (NYSE: CUB), a global leader in fare collection systems and services for public transport.

As part of the contract, Cubic will develop an integrated back-office computer system and provide point-of-sale terminals. Cubic will also operate the system for three years. All systems and devices will be designed to the German National Standard for electronic ticketing.

The new electronic ticketing system will cover the entire RMV region, which includes the city of Frankfurt, Germany's business and financial center, and some 153 transport operators. The population of the region is over 5 million with an estimated 650 million journeys taken on public transport per year. The RMV and its partners, operate more than 3,300 buses and 600 rail and tram stations. In the future, the ticketing system will be expanded to cover the entire RMV area.

Steve Shewmaker, President of Cubic Transportation Systems worldwide, said: "While this contract is our largest in Germany, we also have contracts with RMV and other German cities to extend the use of mobile phones for electronic ticketing. We expect to merge these efforts in the future and provide Germany with some of the most modern and efficient electronic ticketing in the world."

Marcus Platts, Managing Director of Cubic Deutschland, said: "Cubic is delighted to be working with RMS and RMV. We are committed to providing a first-class service and look forward to implementing the plans that we have developed."

Cubic is already well established in the United States, United Kingdom and Australia as a systems integrator and is the global leader in automatic fare collection and electronic ticketing. The award of this contract in the Frankfurt/RMV region of Germany provides a major growth opportunity for the company building on Cubic's long involvement in the German market.

About Cubic:

Cubic® Transportation Systems, Inc. is one of two major segments of Cubic Corporation, is the world's leading turnkey solution provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Cubic's solutions and services include system design, central computer systems, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call centre services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.

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; the South East United Kingdom region; New York/New Jersey region; Washington, D.C./Baltimore/Virginia region; Los Angeles region; San Diego region; San Francisco Bay area; Minneapolis/St. Paul; Chicago; Houston; Atlanta; South Florida; Vancouver and Edmonton, Canada; Brisbane, Australia; Singapore; Modena, Italy; and southern Scandinavia.

Cubic Corporation's defense segment is a world leader in realistic combat training systems, mission support services and defense electronics. For more information about Cubic, see the company's website at www.cubic.com.

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