Central Parking System Assumes Operation of Hollywood & Highland Facility

The Company was awarded the multi-year contract to operate the facility by the City of Los Angeles.

The Hollywood & Highland Center is a prestigious retail, dining and entertainment complex located in the heart of historic Hollywood. The center attracts over 15 million visitors a year. The complex includes the Kodak Theatre, a 3,400-seat venue that hosts numerous live performances each year and is the home of the Academy Awards. The Hollywood & Highland parking garage operates on a 24/7 basis and offers valet parking services.

We are very pleased to be selected by the City of Los Angeles to operate this large and prominent parking facility, said Emanuel J. Eads, President and Chief Executive Officer. The Hollywood and Highland Center and the Kodak Theater are high profile destinations that attract millions of local residents and visitors from around the world. Our goal is to run a first class operation while serving as goodwill ambassadors for the city.

The Hollywood & Highland contract follows the award earlier this year of contracts to operate the municipal parking facilities in Long Beach and San Jose, California. The contract to operate the municipal parking facilities for Long Beach includes a total of approximately 8,000 spaces at 20 locations, including seven garages. The San Jose contract covers approximately 7,000 spaces at 20 locations, including seven garages.

The award of these three important municipal contracts to Central Parking demonstrates the confidence that these city leaders have in our ability to deliver outstanding customer service and manage their facilities in a professional manner. These contract wins also underscore our growing presence in the municipal parking segment, which is one of our target markets, said Eads.

Central Parking System is the largest provider of parking and related services in North America. The Company and its affiliates operate more than 2,800 parking facilities containing approximately 1.3 million spaces. Central Parking also provides parking-related services, including valet, shuttle bus operation and parking consulting. The Companys clients include some of the nations largest owners and operators of mixed-use projects, office buildings, hotels, stadiums and arenas as well as airports, hospitals and municipalities. The Company, a wholly owned subsidiary of Central Parking Corporation, is headquartered in Nashville, Tennessee, and has offices in all major metropolitan areas in the U.S. and Canada as well as several other countries.