Cubic Receives $70 M to Support US Forces Korea

(San Diego, California, April 23, 2009) -- Cubic Applications, Inc., the mission support services business of Cubic Corporation (NYSE: CUB), has received a new contract valued at approximately $70 million to develop and conduct battle simulation training exercises for the United States Forces Korea. Cubic's efforts will help enable the transformation of the U.S. force posture taking place in the Korea Area of Operations and strengthen the operational readiness of the U.S.-Republic of Korea (ROK) alliance.

Cubic's Information Operations Division, based in San Diego, began its new Korea Battle Simulations Center (KBSC) support contract in April. The division's ROK-based program staff includes more than 100 Cubic employees and subcontractor personnel working in support of this flagship contract.

Cubic won its first simulation support contract for United States Forces Korea in July 1991 and continues today. Under the KBSC contract, Cubic plans and conducts all facets of computer-based battle simulation exercises for U.S., ROK, and other allied forces from platoon through theater-levels. Support includes individual, collective, staff, and senior leader battle-staff training.

"This is a significant win for Cubic," stated Al Sargeant, vice president and general manager of the Information Operations Division. "We have won the KBSC support contract for USFK six consecutive times over the last 18 years, from inception of the program in 1991 up to the present. This latest competitive award clearly demonstrates our customer's long-term satisfaction with Cubic and our commitment to the program."

Source : Cubic Corporation (NYSE: CUB)