Press release

Cubic Announces Departure of Cubic Transportation Systems President Matt Cole; Names Laurent Eskenazi as Acting President of Business Segment

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Cubic
Corporation
 (NYSE:CUB)
today announced that Matt Cole, senior vice president and president of
Cubic Transportation Systems (CTS), will leave the company at the end of
January to pursue a leadership opportunity in a non-competing industry.
Laurent Eskenazi, who is currently the senior vice president and
managing director of CTS EMEA, will serve as the interim president of
CTS effective January 13, until a permanent successor is named. Cubic
has initiated an internal and external process of recruiting for Cole’s
replacement and has retained Dinte Global Executive Search to support
the recruitment process.

“Over his 17-year career with Cubic, Matt has made significant
contributions to our company, most recently in operationalizing and
growing our transportation business, advancing our NextCityTM
vision and executing strategic priorities, particularly related to
mobile and Intelligent Transport Systems. On behalf of Cubic and the
Board of Directors, we thank him for his leadership and service to Cubic
and wish him well in his future endeavors,” said Bradley H. Feldmann,
chairman, president and chief executive officer of Cubic Corporation.
“During this time of transition, Laurent brings extensive strategic and
operational experience in ticketing and revenue collection globally and
we are confident in his ability to serve in this interim role.”

In his role as senior vice president and managing director of CTS EMEA,
Eskenazi managed Cubic’s transportation operations in the U.K., Germany
and Sweden, which is the second largest combined market for CTS. Prior
to joining Cubic, Eskenazi was an executive for French transport and
technology company, Thales, responsible for all business operations of
the Revenue Collection Systems business across nine countries. Eskenazi
holds a doctorate in Electrical Engineering and master’s degree in
Communications and Signal Processing from the University of Florida as
well as an engineering degree from Telecom Sud Paris.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated
solutions that increase situational understanding for transportation,
defense C4ISR, and training customers worldwide to decrease urban
congestion and improve the militaries’ effectiveness and operational
readiness.
 Our teams innovate to make a positive difference
in people’s lives. We simplify their daily journeys. We promote mission
success and safety for those who serve their nation. For more
information about Cubic, please visit 
www.cubic.com
or on Twitter
 @CubicCorp.