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Corrections Corporation of America Message Board

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  • r7ualj r7ualj May 13, 1999 1:37 PM Flag

    Isn't this stock going to double?

    Form S-3, filed May 7. The REIT filed 10 million
    common shares pursuant
    to the company's dividend
    reinvestment and stock purchase plan. Prison
    Realty said
    shares under the plan will be offered at a discount
    of
    between 0% and 5%. Persons wishing to partake in
    the plan may make
    monthly cash purchases of stock
    of between $50 and $5,000. First-time
    investors
    must invest a minimum of $1,000 in the company's
    common stock.
    Boston EquiServe LP will serve as
    administrator of the plan.

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    • Prison Realty Expands Board; Directors Include
      Former State Governor

      NASHVILLE, Tenn., May 13
      /PRNewswire/ -- Prison Realty Trust shareholders today
      expanded its board of directors to include former
      Tennessee Governor Ned Ray McWherter.

      Elected to
      three-year terms were D. Robert Crants, president of Prison
      Realty Trust; John W. Eakin, Jr., former executive with
      Highwoods Properties, Inc.; Ted Feldman, chief operating
      officer of StaffMark, Inc.; Jackson W. Moore, president
      and chief operating officer of Union Planters
      Corporation; Jean-Pierre Cuny, senior vice president of The
      Sodexho Group; and Ned Ray McWherter, chairman of the
      board of directors of Volunteer Distributing Company,
      Inc., and Eagle Distributors, Inc.

      "We are
      honored that Governor McWherter has agreed to serve on
      our board. As one of Tennessee's most respected
      elected officials, this governor took a rare and positive
      political stance, in regard to criminal justice while in
      office," said Doctor R. Crants, chairman and CEO. "Under
      Governor McWherter's leadership, the state proactively
      addressed its corrections needs by removing itself from
      under a federal court order, as well as successfully
      completing a prison construction program that was able to
      meet the existing and projected needs for secure
      prison beds. Governor McWherter's knowledge and
      experience should prove invaluable to the
      company."

      Prison Realty's business is the ownership of
      correctional and detention facilities. The Company provides
      financing, design, construction and renovation of new and
      existing jails and prisons that it leases to both private
      and governmental managers. Prison Realty currently
      owns 50 correctional and detention facilities in 17
      states, the District of Columbia and the United Kingdom
      having a total design capacity in excess of 49,000 beds,
      of which 11 new facilities are under construction.
      Prison Realty Trust is based in Nashville, Tennessee and
      plans to qualify as a real estate investment trust
      under the Internal Revenue Code.

      A private
      prison management company and two other private
      management companies formed in conjunction with the merger
      now operate under the name of Corrections Corporation
      of America to provide management services to
      governments under contracts for 81 correctional and detention
      facilities with a total design capacity of 71,851 beds, of
      which 67 facilities with a total design capacity of
      50,005 beds are in operation.

      SOURCE Prison
      Realty Trust

      CO: Prison Realty Trust

      ST:
      Tennessee

      IN: CST

      SU: PER

      05/13/99 14:13 EDT
      http://www.prnewswire.com

 
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