The GEO Group, Inc. Announces That the Completion of the CentraCore Acquisition Has Been Scheduled for Late January 2007

Business Wire, Dec 12, 2006

BOCA RATON, Fla. -- The GEO Group, Inc. (NYSE:GEO) ("GEO") announced today that CentraCore Properties Trust (NYSE:CPV) ("CPT") has filed a definitive proxy statement with the Securities and Exchange Commission relating to GEO's acquisition of CPT. The proxy statement schedules the CPT shareholder meeting to vote on the transaction for Tuesday, January 23, 2007. The closing of the acquisition is scheduled for Wednesday, January 24, 2007.

About The GEO Group, Inc.

The GEO Group, Inc. ("GEO") is a world leader in the delivery of correctional, detention, and residential treatment services to federal, state, and local government agencies around the globe. GEO offers a turnkey approach that includes design, construction, financing, and operations. GEO represents government clients in the United States, Australia, South Africa, Canada, and the United Kingdom. GEO's worldwide operations include 63 correctional and residential treatment facilities with a total design capacity of approximately 54,000 beds.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events and future performance of GEO that involve risks and uncertainties that could materially affect actual results, including statements regarding estimated earnings, revenues and costs and our ability to maintain growth and strengthen contract relationships. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) GEO's ability to complete the proposed acquisition of CentraCore Properties Trust (including its ability to secure the financing necessary to fund the transaction); and (2) other factors contained in GEO's Securities and Exchange Commission filings, including the forms 10-K, 10-Q and 8-K reports.