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    Cubic, EDS and Siemens Join Forces to Develop a Smart Card Ticketing System for Public Transit in The Netherlands

    SAN DIEGO--(BUSINESS WIRE)--May 15, 2002--Cubic Corp. (AMEX:CUB), EDS and Siemens announced they have signed a Letter of Intent, agreeing to cooperate closely on the development of a national electronic ticketing system for public transportation in The Netherlands.

    This agreement is the first step in building a consortium between the three major companies -- specialists in transportation systems and integrated computer technology solutions -- to bid on a contract which will be issued by Trans Link Systems.

    Trans Link Systems, a combination of NS, Connexxion, HTM, GVB and RET, is asking for a proposal for the design, delivery and implementation of a new smart ticketing system for the Netherlands. The objective of Trans Link Systems is to develop and introduce a public transportation ticket that is valid for all transportation modes. It will contribute to the safety on stations, enhance passenger comfort and collect a high amount of anonymous traffic data on a daily basis, allowing public transportation operators to enhance customer service.

    "The objective set by Trans Link Systems is a major challenge for all parties involved. In the first place millions of passengers each day must accept the new ticketing system and feel happy with it. Their judgment is of vital importance," said Jaap Bolhuis of Siemens Nederland N.V.

    "The consortium partners involved have ample experience with automatic fare collection systems and will be able to satisfy the highest passenger usage requirements. The consortium will marshal the combined knowledge and experience of the three companies. By offering several ticket models we are able to offer the payment models and service levels required by the public transport operators and their passengers," Bolhuis said.

    According to Jan Janssen of Cubic Transportation Systems Ltd., "The TransLink initiative means public transportation in The Netherlands will enter into a new era. The Netherlands can profit from Cubic's experience on large-scale projects that have been successfully implemented around the world, including London, New York and Washington, D.C. This consortium has a very strong basis, both at a national and international level."

    Detlef Koerger of EDS said, "EDS adds knowledge and experience to the Consortium gathered in the various Dutch projects, like Tripperpas (smart card in Groningen), MobilityMixx (a card-based ticket system for Connexxion), and NS business card (a card-based ticket system for the business traveller), in the tender process. We are committed and highly motivated to make this project a success."

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