SOURCE: Cubic Corporation

November 13, 2007 20:30 ET

Cubic Corporation Announces New Subsidiary: eAccess

eAccess Will Focus on Secure Credential and Smart Card Solutions

SAN DIEGO, CA--(Marketwire - November 13, 2007) - Cubic Corporation (AMEX: CUB) announced today that eAccess, LLC will be the newest addition to the Cubic family of companies. Building on Cubic's position as the leading developer of the contactless smart-card, eAccess will offer leading products from its partners to expand the application of this technology. To this end, eAccess has developed a strategic alliance with both ZATcard (Beijing Zhong An Te Technologies Co., Ltd.) and Beijing Golden Spring Technology Development Co., Ltd., as preferred suppliers.

eAccess will market the manufacturing capability of ZATcard, which has produced over 350 million CNID cards (Chinese National Identification Card), and the manufacturing lines of Beijing Golden Spring Technology Development Co., Ltd., a privately held Chinese company that manufactures the production equipment for CNID and ePassport manufacturing lines.

Mr. Yong Jie Wang, Chairman of ZATcard, said, "We at ZATcard are very excited about the opportunities that will be generated for our companies. With Cubic's backing, eAccess has the potential to provide real solutions to government and commercial customers worldwide for a variety of secure credential and smart-card solutions." ZATcard, a commercial branch of MPS (Ministry of Public Security), is one of the official Chinese government producers of the CNID and is a current producer of the Chinese National Passport.

Mr. Robert Kraft, President and CEO of eAccess, underscored that "eAccess is in a prime position of offering smart-card consumable products from ZATcard, combined with software and integration services from Cubic, to currently underserved markets." The largest markets eAccess will engage are in South America and the Middle East. eAccess has strategic alliances with Archivert in Santiago and TransOcean, Inc. in Iraq. eAccess is a Delaware Limited Liability Company. Please visit them online at www.eaccessid.com

Cubic Corporation is the parent of two major business 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.

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