Exhibit 99.1

                      Standard Parking Announces Increased
     $135 Million Senior Credit Facility and Intent to Redeem 9.25% Senior
          Subordinated Notes with Resulting $0.07 Expected Increase in
                                 Annualized EPS



    CHICAGO--(BUSINESS WIRE)--June 29, 2006--Standard Parking
Corporation (NASDAQ:STAN), one of the nation's leading providers of
parking management services, announced today that it has entered into
an amended and restated senior credit agreement. The $135 million
revolving facility, which now will mature in June 2011, represents a
commitment increase of $45 million and will be provided by a group
comprised of seven member banks. Key changes are a reduction in the
pricing of its LIBOR Margin, Base Rate Margin and its Letter of Credit
Fee Rate of up to 50 basis points.
    Concurrent with the execution of this amended and restated credit
agreement, the Company has notified the trustee for the 9.25% Senior
Subordinated Notes of the Company's intent to redeem the remaining
outstanding balance of approximately $48.9 million. Settlement of the
redemption of these senior subordinated notes, with accumulated
interest, is expected to occur in approximately thirty days.
    The Company anticipates that the amended facility and redemption
of the 9.25% notes will improve earnings by approximately $0.04 per
share over the remainder of fiscal year 2006 and $0.07 per share on an
annualized basis at current interest rates.
    G. Marc Baumann, the Company's Executive Vice President and Chief
Financial Officer, said, "We are extremely pleased with our amended
and restated senior credit facility. In addition to providing more
favorable pricing and an extended maturity date, the increased
facility will afford added financial flexibility and allow us to
eliminate the balance of our high-yield debt. We are also very pleased
that all of our existing participant banks will remain lenders under
this amended facility, reflecting their continued support of our
business. In addition, we have added new banks with which we have
long-term working relationships, and look forward to working with them
as lenders."
    For a complete list of the changes to the senior credit facility,
please refer to the full agreement, which will be filed by the Company
with a Form 8-K.
    Standard Parking is a leading national provider of parking
facility management services. The Company provides on-site management
services at multi-level and surface parking facilities for all major
markets of the parking industry. The Company manages over 1,900
facilities, containing over one million parking spaces in close to 300
cities across the United States and Canada, including parking-related
and shuttle bus operations serving more than 60 airports.

    More information about Standard Parking is available at
www.standardparking.com. You should not construe the information on
this website to be a part of this report. Standard Parking's 2005
annual report filed on Form 10-K, its periodic reports on Form 10-Q
and 8-K and its Registration Statement on Form S-1 (333-112652) are
available on the Internet at www.sec.gov and can also be accessed
through the Investor Relations section of the Company's website.

    DISCLOSURE NOTICE: The information contained in this document is
as of June 29, 2006. The Company assumes no obligation to update any
forward-looking statements contained in this document as a result of
new information or future events or developments.
    This document and the attachments contain forward-looking
information about the Company's financial results that involve
substantial risks and uncertainties. You can identify these statements
by the fact that they use words such as "anticipate," "estimate,"
"expect," "project," "intend," "plan," "believe," "outlook," and other
words and terms of similar meaning in connection with any discussion
of future operating or financial performance. Among the factors that
could cause actual results to differ materially are the following: an
increase in owner-operated parking facilities; changes in patterns of
air travel or automobile usage, including effects of changes in gas
and airplane fuel prices, effects of weather on travel and
transportation patterns or other events affecting local, national and
international economic conditions; implementation of the Company's
operating and growth strategy, including possible strategic
acquisitions; the loss, or renewal on less favorable terms, of
management contracts and leases; player strikes or other events
affecting major league sports; changes in general economic and
business conditions or demographic trends; ongoing integration of past
and future acquisitions in light of challenges in retaining key
employees, synchronizing business processes and efficiently
integrating facilities, marketing and operations; changes in current
pricing; development of new, competitive parking-related services;
changes in federal and state regulations including those affecting
airports, parking lots at airports and automobile use; extraordinary
events affecting parking at facilities that we manage, including
emergency safety measures, military or terrorist attacks and natural
disasters; the Company's ability to renew the Company's insurance
policies on acceptable terms, the extent to which the Company's
clients purchase insurance through us and the Company's ability to
successfully manage self-insured losses; the Company's ability to form
and maintain relationships with large real estate owners, managers and
developers; the Company's ability to provide performance bonds on
acceptable terms to guarantee the Company's performance under certain
contracts; the loss of key employees; the Company's ability to
develop, deploy and utilize information technology; the Company's
ability to refinance the Company's indebtedness; the Company's ability
to consummate transactions and integrate newly acquired contracts into
the Company's operations; availability, terms and deployment of
capital; the amount of net operating losses, if any, the Company may
utilize in any year and the ability of Steamboat Industries LLC and
its subsidiary to control the Company's major corporate decisions. A
further list and description of these risks, uncertainties, and other
matters can be found in the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2005, in its periodic reports on
Forms 10-Q and 8-K, and in its Registration Statement on Form S-1
(333-112652).



    CONTACT: Standard Parking Corporation
             G. Marc Baumann, 312-274-2199
             mbaumann@standardparking.com