Wackenhut Corrections Is Added to the Russell(R) Indexes
PALM BEACH GARDENS, Fla., July 10 /PRNewswire/ -- Wackenhut Corrections Corporation (NYSE: WHC) ("WCC"), a world leader in the privatized corrections industry, today announced that its common stock has been added to the Russell 3000(R), 2500(R), 2000(R) Indexes and included in the Russell(TM) Growth series of both indexes.
George C. Zoley, vice chairman and chief executive officer of WCC, said, "WCC's inclusion in the Russell 3000(R) and Russell 2000(R) Indexes, along with the Russell(TM) Growth style indexes, exemplifies the Company's financial strength and industry leadership. The addition of WCC to the Indexes well positions the Company to be included in the thousands of institutional and individual investors which rely on the Russell Indexes as part of their investment strategy."
The Indexes, constructed by the Frank Russell Company, were reconstructed on July 1, 2001. Russell is a provider of global investment performance measurement products and portfolio analysis tools. The Indexes are weighted according to total market capitalization and provide benchmark for the U.S. stock market activity and performance. The Russell 3000(R) Index is a broad market index of the 3,000 largest U.S. stocks and the Russell 2000(R) is a leading benchmark for the small cap market while the Russell 2000(TM) and 2500(TM) Growth Indexes measures the performance of those Russell small cap companies with higher price-to-book ratios and higher forecasted growth values.
WCC is a world leader in the privatized correctional management, medical and mental health rehabilitation services industry. The Company offers government agencies a turnkey approach to the development of new correctional and mental health institutions that includes design, construction, financing and operations. WCC has contracts/awards to manage 56 correctional, detention and mental health facilities representing nearly 39,000 beds in North America, Europe, Australia, South Africa and New Zealand. The WCC also provides prisoner transportation services, electronic monitoring for home detainees and correctional health care services. The company is a subsidiary of The Wackenhut Corporation (NYSE: WAK WAKB).