The GEO Group Announces Contract for New 400-Bed Immigration Transfer Center in Louisiana

  The GEO Group Announces Contract for New 400-Bed Immigration Transfer Center
  in Louisiana

Business Wire

BOCA RATON, Fla. -- September 9, 2013

The GEO Group (NYSE: GEO) (“GEO”) announced today it has entered into a
five-year agreement inclusive of renewal options, with U.S. Immigration and
Customs Enforcement (“ICE”) for the housing of immigration detainees in a new
400-bed Transfer Center to be located at England Airpark in Alexandria,
Louisiana (the “Center”).

GEO will finance, develop and manage the $20.0 million company-owned Center,
which is expected to be completed during the fourth quarter of 2014. GEO’s
contract with ICE is expected to generate approximately $8.5 million in
annualized revenues.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said, “We
appreciate the confidence placed in our company by U.S. Immigration and
Customs Enforcement. This important project will play an important role in
helping meet the need for federal detention bed space in the Southeastern
United States. We look forward to providing high quality services at this new
Center in Alexandria, Louisiana under our long-standing public-private
partnership with U.S. Immigration and Customs Enforcement.”

The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real
estate investment trust specializing in the design, financing, development,
and operation of correctional, detention, and community reentry facilities
around the globe. GEO is the world's leading provider of diversified
correctional, detention, and community reentry services to government agencies
worldwide with operations in the United States, Australia, South Africa, and
the United Kingdom. GEO's worldwide operations include the ownership and/or
management of 95 facilities totaling approximately 72,000 beds with a growing
workforce of approximately 18,000 professionals.

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 successfully
pursue further growth and continue to enhance shareholder value; (2) GEO’s
ability to access the capital markets in the future on satisfactory terms or
at all; (3) risks associated with GEO’s ability to control operating costs
associated with contract start-ups; (4) GEO’s ability to timely open
facilities as planned, profitably manage such facilities and successfully
integrate such facilities into GEO’s operations without substantial costs; (5)
GEO’s ability to win management contracts for which it has submitted proposals
and to retain existing management contracts; (6) GEO’s ability to obtain
future financing on acceptable terms; (7) GEO’s ability to sustain
company-wide occupancy rates at its facilities; and (8) other factors
contained in GEO’s Securities and Exchange Commission filings, including the
forms 10-K, 10-Q and 8-K reports.

Contact:

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