Correctional Properties Trust to Release Second Quarter Earnings.

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--June 22, 1999--

Correctional Properties Trust (NYSE:CPV), a real estate investment trust (REIT), announced today that it plans to release its first quarter financial results on Thursday, July 22, 1999.

The Executives of the Company will conduct a conference call with analysts and shareholders at 4:00 p.m. (EDT), on the same date, July 22, 1999.

Those who would like to participate in the teleconference are asked to call the following telephone number at 3:45 p.m. (EDT):

Dial Number: 800-283-1485

Reference Number: 1667096

Those who wish to participate in a replay of this conference call may call the Replay Number 888 - 266 - 2081, Reference Number 1667096. The Replay will be available, starting at 7:00 p.m., Thursday, July 22, through Thursday, July 29, 1999, until 5:00 p.m. (EDT), 24-hours a day.