Central Parking Corporation Forms Strategic Partnership With JAYD LLC to Promote Smartcard Payment System.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--June 14, 2002

Central Parking Corporation (NYSE:CPC) and JAYD LLC today announced a strategic partnership in which Central Parking Corporation will implement JAYD's SmartCard technology in certain segments of its parking operations. Electronic payment cards enhance convenience for Central Parking's customers by replacing cash with a plastic card encoded with a credit balance or charge account information. As it deploys the technology, Central Parking Corporation will acquire a minority ownership interest in JAYD, a privately owned, Mason, Ohio-based company.

The initial deployment of the SmartCard technology has taken place in the greater Boston area. In conjunction with the Massachusetts Bay Transit Authority ("MBTA"), Central Parking Corporation and JAYD have successfully operated a SmartCard program since November 2001 at MBTA's parking facility at the Quincy Adams Station. Customer surveys acknowledge very positive acceptance of the program and clear support for the technology as a convenient alternative to cash and coins. The demonstration program has also shown that SmartCards provide operational benefits in terms of minimizing collection costs, eliminating the risk of theft and expediting financial reports.

William J. Vareschi, Jr., vice chairman and chief executive officer of Central Parking Corporation, said, "We are very pleased about this strategic partnership with JAYD that expands our business relationship with this leading payment technology company. JAYD's products and expertise superbly complement the pay station technology we purchased earlier this fiscal year in the acquisition of Lexis Corporation. We are confident we have now acquired the best electronic payment system for Central Parking Corporation that will favorably brand our facilities to customers and help strengthen our leadership position in the parking industry."

Allen Pease, JAYD's chief executive officer and founder, stated, "JAYD is excited about its partnership with Central Parking Corporation. We believe that utilization of our system will improve the overall parking experience for the customers of Central Parking Corporation. The proven SmartCard allows customers an easy, more convenient way to pay for their parking, and significantly reduces delays upon exiting."

JAYD, headquartered in Mason, Ohio, distributes SmartCard products and services in the United States under an exclusive license from Setec OY of Finland. JAYD has exclusive rights to Setec's proven e-cash application in the United States and anywhere the United States military has a presence. The JAYD application is a financial industry grade solution that meets all open international standards. JAYD's e-purse application can be combined with a variety of other smart card applications including physical access, logical access, electronic identification, medical, PKI, EMV and mobile commerce. JAYD's technology has been independently evaluated and is based on the same technology uses as the national e-purse in Finland, Thailand and Taiwan. JAYD supports multiple chip and terminal platforms as well as card types from disposable cards to 32K Java. For more information on JAYD, go to www.jayd.com.

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading provider of parking and transportation services. The Company operates approximately 4,000 parking facilities containing approximately 1.5 million spaces at locations in 38 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.