Parking Management Fund II Acquires Notes From Everest Capital Group

CLEVELAND, Ohio — July 15, 2010 — Parking Management Fund II, LP ("PMF II"), a private investment partnership managed by Gates Group Capital Partners, LLC ("Gates"), announced today the purchase of the senior subordinated notes (the "Notes") of Parking Holdings, Inc., a PMF II portfolio company, from Everest Financial Group. The transaction gives PMF II ownership of 100% of the senior subordinated notes issued by Parking Holdings, Inc., the parent of Imperial Parking Corporation ("Impark"). Terms of the transaction were not disclosed.

"This investment provides an attractive cash-on-cash yield and overall return for our investors," said E. M. de Windt, Jr., Gates' Senior Managing Director and CEO. "In addition to the financial attractiveness of this transaction, this is a valuable strategic complement to our existing investment in Impark."

About Gates Group Capital Partners
Founded in 2002, Gates Group Capital Partners is a Cleveland, Ohio-based private investment firm that invests in the North American parking and transportation industries through a family of independently operated funds, including Parking Real Estate Fund II, LP and Parking Management Fund II, LP. Total capital under management is in excess of $250 million.

About Imperial Parking Corporation
Imperial Parking Corporation ("Impark") is headquartered in Vancouver, B.C., Canada and is one of the largest parking management companies in North America with more than 2,000 locations and 3,700 employees.

For additional information, please contact:
Jeffrey Guffey
Vice President & Chief Financial Officer
jguffey@gatesgroupcp.com
(440) 684-9900 x 15