SOURCE: Cubic Corporation

Cubic Corporation

April 11, 2011 06:00 ET

Cubic Unveils Vision for Integrated Transport Payments

DUBAI, UNITED ARAB EMIRATES--(Marketwire - Apr 11, 2011) - Cubic (NYSE: CUB), the world's leading solution provider of automated fare collection systems for public transport, has unveiled its vision for a fully integrated, whole of transport, journey and payments management platform -- Nextcity.

Presented at the UITP 2011 World Congress & Exhibition, the vision is to enable transport operators to regulate demand by setting fees and fares across all modes of transport within a region. Nextcity will also enable customers to manage how they travel -- whether by train, bus, taxi, private vehicle or bike -- by providing both operators and travelers real-time, dynamic information that will make their journey faster and more reliable. Cubic will develop Nextcity through evolution of Cubic's existing Nextfare and Nextaccount platforms. Nextcity will integrate with the payment and information systems of other transport modes, without the need to replace any existing infrastructures.

Nextcity will allow regions and cities to educate their population -- in real-time -- about the cost, timeliness, reliability and environmental impact of their personal journey choices.

Steve Shewmaker, president of Cubic Transportations Systems, commented on Nextcity: "For smarter travel to become a reality, more dynamic and fully integrated information and payment management systems are needed. The benefit will be faster, simpler and more efficient travel."

He added, "If transport stakeholders can understand, at a macro and micro level, which factors are most prevalent in causing congestion points and bottlenecks in their cities, they can take appropriate action to vary these factors to influence demand and therefore maximize efficiency."

Cubic believes the opportunity to understand, predict, manage and influence transport -- across all modes -- with the use of Nextcity's transport asset will be significant. It is what is needed in global cities and is what is coming next.

Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services.

Cubic Transportation Systems, Inc. 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; Brisbane (Southeast Queensland) region, Australia; New York / New Jersey region; Washington, D.C. / Baltimore / Virginia region; Los Angeles region; San Diego region; San Francisco region; Minneapolis/St. Paul; Chicago; Atlanta region; Miami (South Florida) region; Vancouver and Edmonton, Canada; Sydney (New South Wales), Australia; and Scandinavia.

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    Jan Stevens