Bernstein Liebhard & Lifshitz LLP Asserts Fraud Claims On Behalf of Prison Realty Trust Shareholders.

NEW YORK--(BUSINESS WIRE)--June 25, 1999--

A securities class action lawsuit was commenced on behalf of holders of the common stock of Prison Realty Trust, Inc. (NYSE:PZN) ("Prison Realty" or the "Company"), in the United States District Court for the Middle District of Tennessee. Plaintiff seeks to recover damages on behalf of a class consisting of (1) all persons whose shares were converted into Prison Realty common stock in connection with the merger of Prison Realty and Corrections Corporation of America ("CCA") on December 31, 1998 and (2) all persons who purchased or otherwise acquired Prison Realty common stock between January 1, 1999 and May 14, 1999, inclusive ("the Class Period.")

The complaint charges Prison Realty and certain of its officers and directors with violations of Sections 11, 12(a) and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that the defendants failed to disclose that it would have to pay substantially higher management fees to CCA for the operation and development of new prisons so that investors would approve the merger of the two companies.

If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact Sandy A. Liebhard, Esq., or Michael S. Egan, Esq., at Bernstein Liebhard & Lifshitz, LLP, 10 East 40th Street, New York, New York 10016, [phone] or 212-779-1414 or by e-mail at [e-mail].