Car Charging Group Announces Partnership With Ace Parking Management, Inc.

Agreement Expands Car Charging Groups' Electric Vehicle Charging Network on the West Coast and Further Develops Ace Parking's Green Initiatives

MIAMI BEACH, Fla. and SAN FRANCISCO, Oct. 26, 2011 (GLOBE NEWSWIRE) -- Car Charging Group Inc. (OTCBB:CCGI), a provider of electric vehicle ("EV") charging services, entered into an agreement with Ace Parking Management, a California-based corporation and one of North America's largest privately-owned parking management companies ("Ace Parking"), to provide EV charging services at Ace Parking facilities.

"This is a very exciting project for us," said Michael D. Farkas, chief executive officer of the Miami Beach, Fla.-based Car Charging Group. "Ace Parking manages more than 450 locations in eight different states. Through this relationship we are making great strides in fulfilling our goal of providing EV charging services nationwide."

Car Charging Group plans to install Level II, 240-volt, EV charging stations powered by ChargePoint® Network, the largest network of independently owned charging stations in the world.

Car Charging Group will install its EV charging stations at various Ace Parking facilities and will offer charging services to the Ace Parking customers. Ownership of the EV charging stations remains with Car Charging Group. Ace Parking will share in the proceeds generated by the charging services provided at their facilities. 

"We've had great success in partnering with parking garages across the country," said Car Charging Group's sales director, Brian Golomb. "Forward-thinking parking garage owners and managers such as Ace Parking understand the economic and environmental benefits of installing EV charging stations, as well as their importance to the developing EV industry and their role in attracting environmentally conscious customers."

"We are excited to partner with Car Charging Group in San Francisco in order to bring the next generation of EV Charging Stations to our customers," said Matt Griesheimer, Vice President at Ace Parking. "With the increase in Electric Vehicle adoption, it's incumbent upon us to take the initiative and support our customer's needs."

Ace Parking manages over 450 parking applications across the United States, including office, retail and mixed-use projects, hotel and valet services, airport parking and shuttles, stadium, arena and event parking, and hospitals and medical centers. Installing EV charging stations is one of the company's green parking initiatives. Other initiatives include solar trees, discounted parking for hybrid cars, solar-powered parking equipment, environmentally friendly shuttle buses, green carwashes and energy efficiency and water conservation.

About Car Charging Group Inc.

Car Charging Group Inc. is an owner and provider of EV charging stations with the mission to establish a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the company acquires installs and maintains electric vehicle charging stations and works with its landowner partners to identify appropriate locations for its units. The company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls, parking garages, multi-family residential and commercial properties.

An estimated 40 million plug-in electric vehicles, such as the Nissan LEAF, GM Chevrolet Volt, Fisker Karma, Tesla Model S, Ford Focus EV as well as many others, are expected to be on the road by 2030. Car Charging Group recognizes the need to establish a comprehensive network of charging stations that delivers easy, convenient access to drivers wherever they live, work and play. Car Charging Group seeks to become the leading provider of electric car charging services. The company launched its operations nationally in September of 2009 and is looking to expand its operations internationally.

Car Charging Group Inc. is based in Miami, Fla. The company's website can be viewed at www.CarCharging.com.

About Ace Parking Management

Ace Parking Management was founded in 1950 and is one of the largest privately held parking companies in the country. Celebrating 61 years, Ace Parking continues to lead the industry with strict and attentive auditing procedures, superior levels of customer service and consistently increasing clients' parking revenues. Headquartered in San Diego, Calif., Ace Parking manages over 450 locations throughout nine states servicing nearly 200,000 customers per day and generates revenues exceeding $369 million.

Forward-Looking Safe Harbor Statement:

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed.

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