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CORRECTIONS CORPORATION OF AMERICA FINALIZES 998-BED TENNESSEE CONTRACT

CORRECTIONS CORPORATION OF AMERICA FINALIZES 998-BED TENNESSEE CONTRACT
 NASHVILLE, Tenn., Jan. 28 /PRNewswire/ -- Corrections Corporation of America (NASDAQ: CCAX) announced today that its contract to operate the 998-bed South Central Correctional Center for the state of Tennessee has received final approval. The company was awarded the right to negotiate the contract in November after competitive bidding.
 CCA President Doctor R. Crants said the agreement carries an initial three-year term with one two-year renewal for a total of five years in length. Revenues from the contract are expected to exceed $12 million annually.
 "The South Central Correctional Center represents CCA's largest contract to date and the largest state prison under private sector management," said Crants. "We are proud to be awarded this historic contract in our home state and believe it will be a model of the effective partnership between government and CCA."
 The prison is scheduled to open March 2. The medium-security adult male facility, located in Clifton, was designed, built and financed by the state of Tennessee.
 CCA manages prisons and other correctional institutions for governmental agencies. The company is the industry leader in private sector corrections with 7,260 beds in 21 facilities under contract. CCA provides a full range of services that include finance, design, construction, renovation and management of new or existing facilities.
 -0- 1/28/92
 /CONTACT: Peggy Wilson, Corrections Corporation of America, 615-292-3100/
 (CCAX) CO: Corrections Corporation of America ST: Tennessee IN: SU: CON


CM -- CH006 -- 4103 01/28/92 09:43 EST
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Publication:PR Newswire
Date:Jan 28, 1992
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