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Cubic Receives ID/IQ Contract, $14.5 Million Task Order to Support Training Simulators in U.S., Overseas

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^{Published in Science and Technology on Monday, January 31st 2011 at 4:06 GMT by Market Wire}  

SAN DIEGO, CA--(Marketwire - January 31, 2011) - Cubic Worldwide Technical Services, Inc., a subsidiary of Cubic Corporation (NYSE: [ CUB ]), has been awarded one of eight indefinite-delivery/ indefinite-quantity (ID/IQ) multiple award contracts for Fielded Training Systems Support Services (FTSS). The Naval Air Warfare Center Training Systems Division in Orlando, Florida, awarded the contracts to support over 900 training simulators for the U.S. Navy and Marine Corps, and for other governments under potential Foreign Military Sales.

As part of the FTSS III award, CWTS also received the initial FTSS III Task Order (0001) for operations, maintenance and instructional support for the E-2C training devices at Navy facilities located in Norfolk, Virginia, and Point Mugu, California. Valued at approximately $14.5 million, this task order began in January with a two-month mobilization/phase-in, to be followed with a 55-month period of performance.

Services covered under the ID/IQ include operations and maintenance support, instruction, limited training device modifications, training device relocations, training system management, in-service engineering office support (backup resource to SeaPort-e), spares/product support, and other related trainer support services. The aggregate, not-to-exceed amount for these contemplated multiple award contracts combined is $900 million, and each contractor will be provided a fair opportunity to compete for individual task orders. Work will be performed in various locations inside and outside the continental United States and is expected to be completed in September 2018.

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, cyber technologies, asset tracking solutions, 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 ].