Central Parking Corporation Awarded Contract Extension at Bob Hope International Airport in Burbank

NASHVILLE, Tenn.--(BUSINESS WIRE)--April 3, 2006--Central Parking Corporation (NYSE: CPC) today announced that its California subsidiary has been awarded a contract extension to manage parking operations at Bob Hope International Airport in Burbank, California.
Under the contract, Central Parking will continue to manage more than 6,500 parking spaces and provide valet parking, shuttle and related services for the airport. The airport has one of the largest and most successful valet parking operations in the country, with more than 300,000 cars using the valet service annually. Central Parking also operates 14 shuttle buses on a 24/7 basis. The contract was extended for a term of three years with two one-year renewal options.

Bob Hope International Airport is a vital part of the Southern California airport system, serving more than five million passengers each year. The airport began its history as United Airport when it opened on Memorial Day weekend 1930. The airport was renamed in honor of legendary entertainer Bob Hope in December 2003.

"Parking revenues at Bob Hope International Airport increased approximately 35% last year under Central Parking's management." said Emanuel Eads, President and Chief Executive Officer of Central Parking Corporation. "The Airport Board's decision to extend this contract for up to five years is a strong endorsement of our ability to increase revenues and improve operational efficiencies. Our track record of adding value to airport parking operations has made Central Parking a leader in this market, with 27 airports currently under contract in the U.S. and abroad, including such major airports as Washington Dulles, Bush and Hobby Airports in Houston, Miami, Detroit, St. Louis, New Orleans, Toronto and Athens, Greece. Our plans are to continue to target this very important market, which is one of the specialized market segments that we identified in our strategic plan as having significant growth potential."

Central Parking Corporation, headquartered in Nashville, TN, is a leading provider of parking and transportation-related services. As of December 31, 2005, the Company operated more than 3,300 parking facilities containing over 1.5 million spaces at locations in 37 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Chile, Peru, Colombia, Venezuela, Germany, Switzerland, Poland, Spain and Greece.

This press release contains historical and forward-looking information. The words "plans," "potential," "target," "goal," "believe," "expect," "guidance," "looking ahead," "assumptions," "estimates," "anticipates," "outlook," "intend," "continue to expect," "should," "project," "objective," "outlook," "forecast," "will likely result," or "will continue" and similar expressions identify forward-looking statements. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company believes the assumptions underlying these forward-looking statements are reasonable; however, any of the assumptions could be inaccurate, and therefore, actual results may differ materially from those projected in the forward-looking statements. The factors that may result in actual results differing from such forward-looking information include, but are not limited to: the Company's ability to achieve the goals described in this release and other communications, including but not limited to, the Company's ability to implement its strategic plan, maintain reduced operating costs, reduce indebtedness and sell real estate at projected values as well as continued improvement in same store sales, which is dependent on improvements in general economic conditions and office occupancy rates; the loss or renewal on less favorable terms, of management contracts and leases; the timing of pre-opening, start-up and break-in costs of parking facilities; the Company's ability to cover the fixed costs of its leased and owned facilities and its overall ability to maintain adequate liquidity through its cash resources and credit facilities; the Company's ability to comply with the terms of the Company's credit facilities (or obtain waivers for non-compliance); interest rate fluctuations; acts of war or terrorism; changes in demand due to weather patterns and special events including sports events and strikes; higher premium and claims costs relating to the Company's insurance programs, including medical, liability and workers' compensation; the Company's ability to renew and obtain performance and surety bonds on favorable terms; the impact of claims and litigation; and increased regulation or taxation of parking operations and real estate.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events. We have provided additional information in our Annual Report on Form 10-K for our fiscal year ended September 30, 2005, on Form 10-Q for the quarter ended December 31, 2005, filed with the Securities and Exchange Commission and in other filings with the Securities and Exchange Commission, which readers are encouraged to review, concerning other factors that could cause actual results to differ materially from those indicated in the forward-looking statements.

Central Parking Corporation, Nashville
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