Cubic Acquires Assets of Impeva Labs Inc.

SAN DIEGO, California – May 18, 2010 - Cubic Corporation (NYSE: CUB) has bolstered its strategic presence in the defense, maritime and homeland security sectors by acquiring the assets of Impeva Labs, Inc., an international provider of global asset management, tracking, monitoring and security solutions.

Cubic acquired Impeva’s contracts, inventory, fixed assets and intellectual property on May 14. A new subsidiary called Cubic Global Tracking Solutions, Inc., will build upon Impeva’s current military and civilian contracts to grow the business globally.

“We intend to leverage the next-generation technology developed by Impeva to become the market leader in global tracking for the Department of Defense, homeland security and commercial markets,” said John D. Thomas, Vice President of Finance and Corporate Development for Cubic Corporation. “The Impeva team has developed a cutting-edge, assured information continuous tracking capability.”

Impeva’s continuous global tracking technology is deploying with the U.S. Department of Defense for tracking and monitoring DoD supply chains in the Middle East and Southwest Asia via satellite, GSM mobile communications, and on an encrypted RFID mesh network. Its Global Sentinel Satellite Tag uses mesh technology for active RFID. Each tag incorporates as many as five different transmission links and can automatically select the most cost-effective transmission link for data routing – from WiFi to satellite – to provide the real-time location worldwide.

Additionally, the company supplies smart devices for dry containers, refrigerated containers and trucks, and offers a Device Management Center (DMC) that can provide continuous, reliable, real-time monitoring and event notification – without requiring fixed infrastructure or proprietary technology.

Impeva has approximately 35 employees in Mountain View, California; Panama City, Florida; and Yerevan, Armenia. Founded in 2004, it provided start-up technology for the U.S. Department of Homeland Security’s Operation Safe Commerce, and is a subcontractor to ARINC on a five-year, $20 million indefinite delivery/indefinite quantity (ID/IQ) contract to develop advanced solutions for global tracking and RFID, and on the Next Generation Wireless Communications (NGWC) program, which provides mesh network satellite-based global asset visibility for U.S. Army logistics personnel.

Cubic’s acquisition of Impeva complements the efforts of various business units of Cubic that are already engaged in defense, maritime and homeland security.

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 and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services. Cubic Transportation Systems is the world’s leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.

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