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The GEO Group Announces Election Results For $350 Million Special Dividend



  The GEO Group Announces Election Results For $350 Million Special Dividend

Business Wire

BOCA RATON, Fla. -- December 28, 2012

The GEO Group, Inc. (NYSE: GEO) ("GEO") today announced the results of the
elections made by shareholders of GEO as to the form of distribution they wish
to receive in connection with GEO’s previously announced special dividend of
$352,206,508, or $5.68 per share of common stock, which will be paid on
December 31, 2012 to shareholders of record as of December 12, 2012.

As of December 12, 2012, there were approximately 62,008,188 shares of GEO
common stock outstanding. The results of elections made by GEO shareholders
are as follows:

  * 10,560,240 shares of GEO common stock (approximately 17% of the
    outstanding shares of GEO common stock) elected to receive GEO common
    stock.
  * 39,627,351 shares of GEO common stock (approximately 64% of the
    outstanding shares of GEO common stock) elected to receive cash.
  * GEO shareholders who made valid elections to receive cash were placed in a
    lottery to receive all cash. Of the GEO shareholders who made valid
    elections to receive cash, shareholders holding 1,268,736 shares of GEO
    common stock (approximately 2% of the outstanding shares of GEO common
    stock) were selected in the lottery and will receive all cash.
  * 11,820,597 shares of GEO common stock (approximately 19% of the
    outstanding shares of GEO common stock) did not make a valid election.

Pursuant to GEO’s previously announced special dividend terms, GEO will issue
approximately 9,687,161 shares of GEO common stock based on an average opening
price per share of GEO common stock on the New York Stock Exchange of $28.32
on December 26, 2012 and December 27, 2012, the two trading days following the
election deadline of December 24, 2012. GEO shareholders will receive cash for
their fractional share interests based on the $28.32 average price of GEO
common stock. Based on the election results:

  * GEO shareholders who made valid elections to receive stock will receive
    approximately 0.20 shares of GEO common stock for every share they hold.
  * GEO shareholders who made valid elections to receive cash and who were not
    selected in the lottery as well as GEO shareholders who did not make a
    valid election will receive approximately 24% of the special dividend in
    cash, or approximately $1.38 for every share they hold, and approximately
    76% of the special dividend in stock, or approximately 0.15 shares of GEO
    common stock for every share they hold.

Following the special dividend, GEO will have approximately 71.3 million
shares of common stock outstanding, which reflects the shares which will be
issued in connection with the special dividend as well as previously
outstanding shares which will be designated as treasury shares effective
December 31, 2012. The special dividend will be treated as a taxable dividend
to shareholders in 2012, without regard to whether a particular shareholder
receives the dividend in the form of cash or shares of common stock.

About The GEO Group, Inc.

The GEO Group, Inc. is the world's leading diversified provider of
correctional, detention, and community reentry 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, and the
United Kingdom. GEO's worldwide operations include 18,000 employees, 101
correctional, detention and community reentry facilities, including projects
under development, and 73,000 owned and/or managed beds.

Contact:

The GEO Group, Inc.
Pablo E. Paez, 866-301-4436
Vice President, Corporate Relations
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