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CCA VENUS PRE-RELEASE CENTER TO DOUBLE CAPACITY WITH EXPANSION

 NASHVILLE, Tenn., Sept. 27 /PRNewswire/ -- Corrections Corporation of America (NASDAQ: CCAX) (CCA) announced it will design, build and manage an additional 500 beds at its Venus Pre-Release Center in Texas, when the capacity of the minimum-security facility is expanded to 1,000 by the fall of next year.
 CCA recently was awarded the expansion contract by the Texas Department of Criminal Justice as part of the state's plans to increase the number of beds available to house inmates. The $12 million cost of the expansion will be funded with tax-exempt bonds issued by the Texas Correctional Facilities Financing Corporation. Construction is expected by begin in October, with scheduled completion in nine to 12 months.
 The three-year contract should generate revenues in excess of $5 million annually.
 In an earlier related move, the state renewed its current management agreement with CCA for the existing 500 beds at the Venus Pre-Release Center, as well as for an identical 500-bed facility it operates in Cleveland, Texas. The renewal is expected to produce approximately $11 million of revenue annually over its two-year term.
 "We are pleased that the state of Texas has expressed its confidence in CCA with these contracts," said Doctor R. Crants, CCA president and CEO. "We were proud to be at the forefront of private sector corrections in Texas and are equally gratified to participate in this expansion."
 In 1987 CCA was one of two corrections companies that were awarded the state's first privately-managed prison beds. The four resulting 500- bed facilities, including Venus and Cleveland, were designed to house inmates within two years of release and provide programs to help them successfully reintegrate into society. The prisons provide academic and vocational education, family counseling, substance abuse counseling, adult living skills, an employment curriculum, recreation, and religious and volunteer services.
 CCA owns and operates two other facilities in Texas, the Houston Processing Center and the Laredo Processing Center. Both house inmates for the Texas Department of Criminal Justice and the U.S. Immigration and Naturalization Service.
 CCA manages prisons and other correctional institutions for governmental agencies. The company is the industry leader in private sector corrections with 9,187 beds in 21 facilities under contract in six U.S. states, Australia and the United Kingdom. CCA provides a full range of services that includes finance, design, construction, renovation and management of new or existing facilities.
 -0- 9/27/93
 /CONTACT: Peggy Wilson Lawrence of Corrections Corporation of America, 615-292-3100/
 (CCAX)


CO: Corrections Corporation of America; Texas Department of Criminal
 Justice ST: Tennessee, Texas IN: SU:


SB-MM -- CH006 -- 5849 09/27/93 10:16 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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