CHICAGO, April 1, 2002 - APCOA/Standard Parking, Inc., one of the nation's largest operators of paid parking facilities, today announced fourth quarter and full year 2001 operating results.

Gross customer collections were $342 million for the quarter, a decrease of $50 million or 12.7% from the same period last year. For the full year, gross customer collections reached $1.5 billion, a decrease of 2.6% as compared to the same period last year. Gross profit was $15.3 million for the quarter and $57.0 million for the year, which was down 0.7% for the quarter and 5.2% for the year as compared to the same periods in 2000. Fourth quarter 2001 gross profit benefited from a $4.8 million fee from the termination of two long-term contracts.

During 2001, the company reaped the benefits of cost cutting initiatives put in place at the end of 2000 and the middle of 2001. General and administrative expenses for the quarter decreased $1.9 million or 21% from the same quarter in 2000. Full year general and administrative expenses decreased $6.1 million or 17% to $30.0 million as compared to the prior year.

The company achieved EBITDA of $8.1 million for the quarter and $27.0 million for the year, which represents an increase of 28.4% and 12.5%, respectively, as compared to the same periods in 2000.

“Our organization was severely challenged by the events resulting from the tragedy of September 11th. I'm proud that our organization responded to our clients and customers in a most favorable manner, and disruption within our facilities was minimal. We are beginning to see the first stages of a recovery in activity at our locations, most importantly, at our key airport locations,” said James A. Wilhelm, APCOA/Standard Parking's President and Chief Executive Officer.

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APCOA/Standard Parking, Inc., with approximately 13,600 employees, is one of the largest operators of paid parking facilities in North America, managing 2,000 airport and urban parking facilities in 269 cities spanning 43 states and three Canadian provinces.

APCOA/Standard Parking's 2001 annual report filed on Form 10-K is available on the Internet at www.sec.gov. More information about APCOA/Standard Parking is available at www.apcoastandard.com.

Certain statements contained herein may be forward-looking statements under the federal securities laws. Such statements can be identified by the use of words such as “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “plans,” and “expects.” These statements discuss expectations for the future, contain projections concerning the results of our operations or our future financial condition or state other forward-looking information. Such statements are subject to a number of risks and uncertainties. Our actual results, performance or achievements could differ substantially from the results expressed in, or implied by, those statements. We assume no responsibility for revising forward-looking statements in light of future events or circumstances.

Contact:
G. MARC BAUMANN
Chief Financial Officer
Standard Parking Corporation
(312) 274-2199
mbaumann@standardparking.com