Cubic Earns "Salute to Success" Award From Financial Executives

Market Wire, March, 2008

Cubic Corporation (AMEX: CUB) has received the third annual "Salute to Success" award from the San Diego Chapter of Financial Executives International (SDFEI), a professional association for senior-level corporate finance executives. Cubic accepted SDFEI's premier recognition accolade during a dinner event at the La Jolla Marriott on Thursday, March 20.

The "Salute to Success" award recognizes local companies that have earned the respect and admiration of financial executives for their record of accomplishment as leaders in the San Diego business community. In bestowing the award, SDFEI cited Cubic's long history of solving complex technical problems since the company's founding in 1951 by Walter J. Zable. An early example of Cubic innovation was a satellite-based mapping system known as SECOR (Sequential Collation of Range) that provided precise position location data, similar to what GPS provides today, during the 1960s. Today, Cubic has close to $900 million in annual revenues and 6,000 employees worldwide.

Gary Correia, Vice President of Finance for Taylor Guitars, presented the award on behalf of SDFEI to John (Jay) Thomas, Cubic's Vice President of Finance and Corporate Development. Correia stated, "Through the decades, Cubic has made technological breakthroughs that have had a lasting imprint on the San Diego region and the world. Today, Cubic is a leading provider of live, virtual and constructive training systems for the U.S. and allied nations. Nearly every American fighter pilot, soldier and Marine has trained with Cubic's air or ground combat training systems. Cubic is also the world's leading provider of automated fare collection systems and services for public transit. Every year, more than 10 billion rides are taken worldwide using Cubic fare collection systems, including the San Diego Trolley."

Cubic is the third local company to earn the "Salute to Success" award since it was created three years ago. Previous recipients include Qualcomm and SAIC. The "Salute to Success" award supersedes the earlier "Deal of the Year" award, which Cubic received during the 1990s.

About SDFEI

SDFEI, which has close to 200 local members, is part of an international organization of more than 14,500 executives that provides broad informational resources including peer networking, emerging issues updates, teleconferences, forums, real-world research, and a web site and newsletter. Active membership is available to persons working at companies meeting certain size requirements who carry out the responsibilities of financial executives including accounting and control, treasury and finance, internal audit, planning and business development, information systems, risk management, tax administration and retirement fund management.

About Cubic

Cubic Corporation is the parent of two major 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. For more information about Cubic, visit the company's web site at www.cubic.com .

CONTACT: Jan Stevens 858-505-2174 David Liddle 858-505-2642 9333 Balboa Ave. San Diego, CA 92123 www.cubic.com