Central Parking Corporation Expands International Airport Presence; Company Signs Toronto Pearson Airport Contract.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--May 27, 2003

Central Parking Corporation (NYSE:CPC) today announced that it has been awarded a multi-year agreement to manage 24-hour parking and shuttle services at Toronto Pearson International Airport (identifier code YYZ). The agreement commenced on May 1, 2003 and encompasses 15,000 parking spaces with 9,000 additional spaces coming on line in October 2003 with the opening of a new garage and terminal.

"We are very proud to have been selected by the Greater Toronto Airports Authority (GTAA) to manage parking at Toronto Pearson International, the largest airport in Canada and 26th busiest airport in the world," said Monroe Carell, Jr., chairman and chief executive officer. "This agreement marks our first airport contract in Canada and validates the efforts of our airport marketing team. Serving more than 28 million passengers annually, Toronto Pearson is ISO certified in meeting international environmental standards. The Terminal 3 Garage features the AUTOPAY system, permitting parkers fast, convenient payment options and streamlined exit from the airport. The GTAA has made Pearson one of the most customer-focused airports in the world and Central Parking commits to continuing that distinction."

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading global provider of parking and transportation management services. The Company operates approximately 3,900 parking facilities containing more than 1.6 million spaces at locations in 39 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Mexico, Chile, Peru, Columbia, 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.