The Gates Group Announces Investment in Towne Park, Ltd.

CLEVELAND, Ohio, USA – March 31, 2006 – Parking Management Fund, LP ("PMF"), a private investment partnership managed by The Gates Group, LLC ("Gates"), announced today a debt and equity investment in Towne Park, Ltd. ("Towne"), the leader in contracted hotel services and hospitality parking systems in North America.

"This transaction provides an excellent platform for Gates and Towne to explore strategic opportunities within the valet parking industry," said Jerry South, Towne's CEO. "Together, we are well positioned to invest aggressively in target companies that have demonstrated consistent earning power in growth markets."

Towne Park, headquartered in Annapolis, MD, currently provides contracted services at approximately 100 hospitality locations in 20 cities in the United States.

Prudential Capital Group, a leading provider of debt and equity capital, and CapitalWorks LLC, a Cleveland merchant banking firm, were PMF's capital partners in the transaction.

The Gates Group, LLC, is a Cleveland, Ohio-based private equity firm that makes investments in the North American parking industry through two independently operated funds, the Parking Real Estate Fund, LP, and the Parking Management Fund, LP, with a combined investment capacity of in excess of $500 million.

MEDIA CONTACT: Mr. David Nichols, Chief Operating Officer, Towne Park, Ltd. (800) 291-6111 dnichols@townepark.com