Cubic Corporation: Cubic Corporation Announces Appointment of Stephen O. Shewmaker as President of Cubic Transportation Systems Worldwide

SAN DIEGO, CA--(Marketwire - November 20, 2008) - Cubic Corporation (NYSE: CUB) announces that it has completed its overall operating management reorganization plan with the appointment of Stephen O. Shewmaker to the role of President of Cubic Transportation Systems Worldwide. In addition to his new position, Mr. Shewmaker will continue to operate as UK Managing Director and, for the present, will remain in the UK. From 1988 to 2003 Mr. Shewmaker held a variety of management positions with Cubic's transportation subsidiary, ending as Senior Vice President - Worldwide Marketing. He returned to Cubic in 2006 as Managing Director, UK transportation operations. Mr. Shewmaker's appointment completes an operating management restructuring process through which an improved management structure was created, a structure populated by solid, energetic and experienced top managers for Cubic's major business units.

Mr. Shewmaker rounds out the senior management team now comprised of Bradley H. Feldmann, President of Cubic Defense Applications, Inc. (Defense Systems); Jimmie L. Balentine, President of Cubic Applications, Inc. (Mission Support Services); and Walt Bonneau, Jr., President of Cubic Security Systems.

Cubic Defense Applications, one of Cubic's two major segments, is a world leader in realistic combat training systems, mission support services and defense electronics. The corporation's other major segment, Cubic Transportation Systems, designs and manufactures automatic fare collection systems for public mass transit authorities. For more information about Cubic, see the company's website at www.cubic.com.

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