Cubic Defense President Speaks Out on Budget Sequestration

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Expresses concerns about consequences at local, state and national levels.

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Cubic Defense Applications (NYSE: CUB) President Bradley Feldmann joined fellow industry leaders in demanding congressional action to stop the impending budget sequestration set to begin in January 2013. Speaking to Cubic defense employees, Feldmann reiterated the growing concerns within industry of the impacts the sequestration could have at the local, state and national level. “People need to understand the severe impact that these budget cuts would have not only on the defense industry, but also on important domestic government programs that are essential to our everyday lives,” Feldmann said.

“Cubic Corporation employs thousands of dedicated men and women who work on critical defense and transportation programs that not only help promote our national security but impact the lives of millions of U.S. citizens on a daily basis,” Feldmann said. “These draconian cuts – if implemented – will without doubt have a negative impact on Cubic, its employees, our communities and our nation. Let’s not only talk about what sequestration will do to our defense posture and national security. Let’s also look at what this could mean to basic and essential government services our citizens rely upon daily,” he said.

Feldmann told Cubic employees that he has joined other industry leaders in Washington, D.C., to meet with government leaders urging them to quickly reach an agreement to stop the upcoming sequestration. “I’m meeting with the Secretary of Defense. I’m meeting with members of the California delegation. I’m meeting with the leadership of congressional committees. My message is unequivocal: Our national leaders cannot and must not allow politics to play into such a defining and pivotal moment in our national and economic security.”

Feldmann noted the Cubic workforce has also joined the fight. “Within Cubic, employees have been active in sending letters to President Obama and members of Congress expressing their concerns over the sequestration. Our ‘Call to Action’ campaign against the sequestration has elicited thousands of letters nationwide urging elected officials to reach a quick and reasonable agreement,” said Feldmann.

“We can’t wait in anticipation of the November elections. The stakes are too high and the consequences are too great. Now is the time for our leaders to act,” Feldmann stated.

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 http://www.cubic.com.

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Timothy Hill
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