Standard Parking Corporation Announces $20M Stock Repurchase Program

Standard Parking Corporation STAN today announced that its Board of Directors has authorized the Company to spend up to $20 million in total to return value to its shareholders through open market stock repurchases. In light of the Company's strong free cash flow expectation of $15 - $20 million for 2011 and a current share price that the Company believes is significantly undervalued, the authorization reflects the Board's belief that the repurchase of Company shares is one of the best current uses of free cash flow.