Correctional Properties Trust to Release Fourth Quarter 1999 Earnings.

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Dec. 17, 1999--

Correctional Properties Trust (NYSE:CPV), a real estate investment trust (REIT), announced today that it plans to release its financial results the afternoon of Thursday, January 20, 2000.

The Executives of the Company will conduct a conference call with analysts and shareholders at 4:30 p.m. (EST), on the same date.

Those who would like to participate in the teleconference are asked to call the following telephone number at 4:15 p.m. (EST):

Dial Number: 800-949-5539

Reference Number: 2714896

Those who wish to participate in a replay of this conference call may call the Replay Number 888-266-2081, Reference Number 2714896. The Replay will be available 24-hours a day, starting at 7:00 p.m., Thursday, January 20th, through Thursday, January 27th, 5:00 p.m. (EST).