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Central Parking Corporation Partnership Assumes Parking Operations at Los Angeles International and Van Nuys Airports

Posted on: Wednesday, 6 June 2007, 12:00 CDT

Central Parking Corporation today announced that its partnership has assumed management of parking operations at Los Angeles International Airport (LAX) and Van Nuys Airport (VNY). New South Parking, a partnership between Central Parking System, Inc. and Global Parking Systems, LLC, was awarded the contract, which has an initial term of three years with two one-year renewal options. The partnership assumed operations on June 1, 2007.

LAX is the third largest airport in the United States and fifth largest in the world, serving more than 61 million passengers last year. With nearly one-half million takeoffs and landings annually, Van Nuys is ranked as the world's busiest general aviation airport. Both airports are part of Los Angeles World Airports (LAWA), a unique system of four airports owned and operated by the City of Los Angeles. As part of the contract, the Central Parking partnership will manage more than 30,000 spaces and provide valet parking services.

"We believe the selection of our partnership to provide parking services at LAX and Van Nuys, and the unanimous approval of our selection by the Los Angeles City Council, confirms our position as the operator of choice for major airports," said Emanuel J. Eads, President and Chief Executive Officer of Central Parking Corporation. "With the addition of LAX and Van Nuys, we now operate the on-site parking facilities for a total of 28 airports, including the major airports serving Houston, Washington, D.C., Miami, Toronto, Detroit, St. Louis, New Orleans, Ft. Lauderdale, Nashville and Athens, Greece."

Eads added, "We look forward to working with LAWA to provide the highest levels of customer service at both airports."

Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading provider of parking and transportation-related services. As of March 31, 2007, the Company operated approximately 3,000 parking facilities containing approximately 1.4 million spaces at locations in 37 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Chile, Colombia, Peru, Spain, Switzerland and Greece.

Source: Business Wire

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