Central Parking Corporation Awarded Contract Renewal to Manage On-street Parking in Charlotte.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 25, 2002

Five-year Contract Highlights Potential

for Increasing Privatization of Municipal Parking

Central Parking Corporation (NYSE:CPC) today announced that it has been awarded a five-year contract renewal to manage the "Park It!" on-street parking program in Charlotte, North Carolina. Under the agreement, Central Parking is providing on-street enforcement of 1,040 metered spaces, 5,000 non-metered spaces, administration of several residential-permit parking programs and the Park Center City Merchant Validation Program. Also included is the management of special event parking such as home games for the NFL Carolina Panthers. Central Parking has provided parking enforcement; parking-meter collections and maintenance; citation processing; appeals and adjudication; and related services throughout the Center City area since 1997.

Emanuel Eads, president of business development for Central Parking Corporation, remarked, "Our pilot program and subsequent contract in 1997 with the Charlotte Department of Transportation represented the first major municipal parking program in the United States to be entirely privatized. The goal of this landmark contract was to implement a parking system that facilitated the continued growth and development of Uptown Charlotte and adjacent commercial areas. Another emphasis has been to manage this turnkey program in a consistent, customer-focused manner. Winning the renewal is gratifying evidence that we have been successful in reaching the ambitious objectives of this model relationship as well as validation of the superior performance we have provided over the past five years.

"Our program in Charlotte has been recognized by the International Parking Institute as one of the most innovative parking programs in the world. We have effectively leveraged Park It! in our marketing efforts to encourage the privatization of parking services in other cities. Having signed six other cities since piloting in Charlotte, we remain positive about the prospects for developing additional parking programs for other municipalities and government entities."

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading provider of parking and transportation-related services. The Company operates approximately 3,900 parking facilities containing approximately 1.6 million spaces at locations in 39 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Chile, Colombia, Germany, Mexico, Peru, Poland, Spain, Switzerland, Venezuela 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.