CENTRAL PARKING CORPORATION EXPECTS 1996 GAINS; STOCKHOLDERS ELECT TWO NEW DIRECTORS.

NASHVILLE, Tenn.--(BUSINESS WIRE)--Feb. 21, 1996--Speaking today at the annual meeting of stockholders of Central Parking Corporation (NYSE:PK), Monroe J. Carell, Jr., Chairman and Chief Executive Officer, said that the Company expects to report new highs in sales and earnings for the current fiscal year which ends September 30, 1996.

At the meeting, shareholders re-elected five directors and elected Cecil Conlee and P.E. Sadler as new directors.

In the fiscal year ended September 30, 1995, Central Parking Corporation reported record net earnings of $9.9 million, or $0.97 per share, on total revenue of $126.2 million. Earlier this month, the Company reported first-quarter results that included a 22% increase in net earnings to $3.2 million compared with $2.6 million and earnings per share of $0.28 versus $0.26 on 13% more average shares outstanding.

"Based on the strong start reflected by the gains in the first quarter, we are confident that fiscal 1996 as a whole will reflect higher revenues and earnings for Central Parking Corporation," commented Carell. "Our focus continues to be on adding new properties to the worldwide base of parking facilities which we now operate. The additional equity capital raised through the initial public offering in October 1996 has enhanced our competitive leadership and substantially broadened our flexibility to build profitable working partnerships with real estate developers, municipalities and other government agencies seeking to maximize their return from parking facilities connected with their properties."

Cecil Conlee, age 59, is Chairman and Chief Executive Officer of CGR Advisors which provides real estate investment advice and portfolio management services. He also serves as a Director of Oxford Industries, Inc. and Rodamco N.V. Conlee also serves as a trustee of Corporate Property Investors, International Council of Shopping Centers and Vanderbilt University. He is a member and past trustee of the Urban Land Institute, a director of Central Atlanta Progress, The Corporation for Olympic Development Atlanta, and The Southern Center for International Studies.

P.E. Sadler, age 61, is Chairman and Chief Executive Officer of ActaMed Corporation, a health care technology company that he founded in 1992. He was formerly Chairman and Chief Executive Officer of MicroBilt Corporation which was acquired by First Financial Management Corporation in 1989. Sadler has previously served as a Director of Endata Corporation, First Financial Management Corporation and Knowledgeware. He currently serves as a Director of ActaVest Corporation and CareerOps, Inc.

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading provider of parking services in the United States. The Company currently operates approximately 1,300 parking facilities containing 490,000 spaces located in 31 states, the District of Columbia, the United Kingdom, Mexico and Puerto Rico. The Company provides parking consulting services in Malaysia and Spain and has a business development office in Amsterdam.

CONTACT: Central Parking Corp., Nashville

Stephen Tisdell, 615/297-4255