Park24 has resolved at the meeting of its Board of Directors held today, on December 15, 2005, to propose the year-end dividend of 15 yen per share, a dividend increase for the term ended October 31, 2005, at the 21st annual shareholders' meeting scheduled on the 26th of January 2006.

1. Reason
Park24 maintains a fundamental policy of enhancing shareholders' value, by rewarding shareholders in accordance with its earnings.
In the term ended Oct. 31 2005, Park24 steadily increased the number of Times parking facilities while improving the profitability through the efforts to enhance customer services, realized by the implementation of TONIC, the company's unique online system. As the result, the earnings for the term surpassed the previous forecast.
The proposed year-end dividend, up 3 yen from 12 yen per share (announced on Dec. 15, 2004) to 15 yen per share, reflects both the result of the term just ended and the long-term forecast of the terms to come.
Adjusted for the 2-for-1 share split on Dec. 20, 2004, the dividend payment increases by 10 yen compared with the previous annual dividend of 20 yen.
In order to further enhance the shareholders' value, Park24 also projects the annual dividend payment for the term to Oct. 2006 at 20 yen per share (5 yen increase).

2. Proposed Dividend