SOURCE: Cubic Corporation

Cubic Corporation

September 30, 2009 07:00 ET

Cubic, TransLink Report Record Use of New Fare Collection System for Canada Line

VANCOUVER, BC--(Marketwire - September 30, 2009) - With the determination of an Olympic speed skater, the new Canada Line opened 15 weeks ahead of schedule and is setting new records for transportation ridership in the metropolitan Vancouver region of British Columbia. Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corporation (NYSE: CUB), provided the Canada Line's world-class fare collection system months before the start of the 2010 Winter Olympics.

On August 17, the South Coast British Columbia Transportation Authority, better known as TransLink, officially opened the Canada Line and hosted a "Fare-Free Day" across all 16 Canada Line stations, with thousands of passengers taking a free inaugural trip on the 12-mile system. A day later, on August 18, Cubic's fare collection equipment began operation. So far, TransLink has seen an average of 82,500 riders per day since the fare collection system launched. Passenger support of the new line has been very good, and the forecast of achieving 100,000 daily riders within two years of opening is well on track.

"We're very pleased that this project was completed ahead of schedule and that the new line is so popular. We will be able to ensure that the system operates smoothly for our many customers and for the scores of Olympic spectators coming to Vancouver in 2010," said Ron Aitken, Director, Contract Services and Business Development for TransLink.

"Demand has exceeded expectations, and Cubic is proud that we are part of a system which serves local needs now and will be playing an important international role in the near future," commented Richard Wunderle, senior vice president and general manager for Cubic Transportation Systems, which designed, developed, manufactured and installed the new system.

The Canada Line extends from Vancouver's waterfront to the city of Richmond, and to Vancouver International Airport. The Cubic-developed fare collection system includes new touchscreen vending machines that allow passengers to select from six languages -- English, French, German, Chinese, Japanese and Punjabi -- to purchase tickets. Patrons can use cash, Visa and MasterCard credit cards and certain debit cards for payment. Cubic also delivered ticket validating machines which allow FareSaver program participants to validate their ticket before boarding a bus or train.

All transactions are processed through Cubic's Nextfare Solution Suite®, a powerful central computer system that provides sophisticated data reporting, administrative and management capabilities.

The successful launch of the Canada Line ticketing system is Cubic's latest effort in two decades of transportation projects in British Columbia. Cubic's first project was delivering fareboxes for Coast Mountain Bus, a TransLink subsidiary. Later, Cubic developed and installed ticketing systems for the SkyTrain's Millennium and Expo rail lines. The interoperability of Cubic's ticketing systems lets passengers transfer seamlessly between TransLink's bus and rail services.

About Cubic:

Cubic® Transportation Systems, Inc. is one of two major segments of Cubic Corporation. Cubic Transportation Systems 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; New York / New Jersey region; Washington, D.C. / Baltimore / Virginia region; Los Angeles region; San Diego region; San Francisco; Minneapolis/St. Paul; Chicago; Atlanta; Miami; Vancouver and Edmonton, Canada; Brisbane, Australia; and 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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