Impark Announces Award of Contract for RFK Stadium

VANCOUVER, British Columbia--(BUSINESS WIRE)--June 27, 2003--Imperial Parking Corporation ("Impark") (AMEX: IPK - News) announced today that it has been awarded the contract to manage the parking operations at RFK Stadium in Washington, DC.
impark.jpgThe 56,000-seat stadium is home to the DC professional men's and women's soccer teams United and Freedom, and contains parking for over 10,000 vehicles and 300 buses. It is also one of the short-listed facilities under consideration as the new home of Major League Baseball's Montreal Expos franchise.

Under the terms of the Agreement, Impark will operate the lots for all events that take place at the Park, as well as those that take place at the DC Armory, by way of a joint venture with local operator Park USA, Inc. The contract was awarded pursuant to a formal Request for Proposals. Impark was one of six finalists.

"I'm very excited about this opportunity to grow our operations in the DC area," commented Charles Huntzinger, Impark's President and C.E.O. "To secure this contract so swiftly after the Milwaukee Miller Park deal is very encouraging and is an important positive result for the stadiums and arenas niche marketing strategy that we adopted in March of this year. These contracts reinforce that Impark has competitive advantages in this sector of the parking business."

Mr. Huntzinger went on to say that, "The contract for RFK Stadium is significant not only because it's new business for the company, but it's also strategically significant because of our strategy to diversify our account structure across different deal types, geographic areas, market size, and business drivers. It is very important to the long term profitability of the company that we continue to work to achieve this goal."

The contract was secured through Impark's wholly owned subsidiary DLC Management Group, Inc. ("DLC"). Impark has had operations in D.C. since July 2001 when it acquired DLC.

Imperial Parking Corporation, headquartered in Vancouver, B.C., Canada is the largest parking operator in Canada and one of the four largest in North America based on number of locations. As of March 31, 2003 Impark owned, leased or managed 1,652 parking locations containing over 325,000 parking spaces in Canada and the United States.

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 filings with the Securities and Exchange Commission.
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