Central Parking Corporation Signs Multi-Location Contract with City of Phoenix

NASHVILLE, Tenn.--(BUSINESS WIRE)--Central Parking Corporation (NYSE: CPC) today announced that Central Parking System, Inc., has signed a multi-year management agreement with the City of Phoenix Public Works Department to provide parking services at eight locations within the Central Business District. The locations encompass more than 3,700 parking spaces in two multi-level garages: the Adams Street Garage and the 305 Garage, and six surface lots. The parking management contract commenced January 1, 2005. Including three optional one-year terms, the length of the agreement can potentially run through December 31, 2009.
Central_Parking_Corp.jpgCommenting on the contract, Gregory J. Stormberg, Central Parking Corporation Senior Vice President said, "We are very pleased that the City Council and City Manager have selected Central Parking to operate this select group of parking facilities serving downtown patrons, residents and employees. Central Parking originally operated these facilities until 1998 and we are excited to again be working with the City of Phoenix."

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading global provider of parking and transportation management services. As of September 30, 2004 the Company operated more than 3,400 parking facilities containing over 1.5 million spaces at locations in 38 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Mexico, Chile, Peru, Colombia, Venezuela, Germany, Switzerland, Poland, Spain and Greece.

This press release contains projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the Company's current views with respect to future events and financial performance. No assurance can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors. A discussion of these factors is included in the Company's periodic reports filed with the Securities and Exchange Commission.
Central Parking Corp.
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