Frost & Sullivan Recognizes Cubic for Its Pioneering Smart Card Technologies and High Value Proposition for Clients

Frost & Sullivan selected Cubic Transportation Systems, Inc., one of two major business segments of Cubic Corporation (AMEX: CUB) , as the recipient of the 2006 Industry Innovation & Advancement of the Year Award in the smart card mass transit market in recognition of its inventive strategies for the advancement of smart card technology.
Cubic Transportation Systems (Cubic) is a turnkey solution provider for the automated fare collection system used in public transit systems including bus, rail, and ticketing for parking applications. Its ability to translate customer requirements into innovative and reliable solutions that are both convenient and state-of-the-art has translated into a large customer base of operators who count on Cubic to provide regular technology upgrades that keep their mass transit systems operating in the most efficient manner.

Cubic has recently incorporated into its platform low-cost smart tickets to provide a complete smart card-based payment solution. Prior to the introduction of limited-use smart tickets, most mass transit systems that upgraded to smart card technology continued to accept legacy magnetic tickets for infrequent commuters who could not justify the cost of a smart card. Cubic has also introduced a complete line of contactless card-enabled parking equipment for integration with its regional systems.

Another differentiating factor for Cubic is that it provides a host of additional services -- call center support, card production and distribution, financial clearing and settlement -- to maintain and run installed systems. Advances in networking technology now enable the company to offer automated customer support, automated fare product distribution, electronic benefits administration, and links to vehicle tracking, vehicle management, and applications management systems.

About the Industry Innovation & Advancement of the Year Award

frost&sullivan.jpgEach year Frost & Sullivan presents this award to a company that has proven to be a leader in the industry and that, through its pioneering technology, sound business strategy, and research efforts, has been successful in moving the state of the industry forward. Its excellence in the field has extended beyond its technical advancements and encompasses a comprehensive view of market participants resulting in an ongoing improvement in the industry over time. The award recognizes the company for its broader, more comprehensive participation in the industry and for its contributions to the advancement of the market.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

About Cubic Transportation Systems, Inc.

Cubic Transportation Systems, Inc. is the world's leading full-service systems 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, back office computer systems, support equipment, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call center services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.
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