CentraCore Properties Trust Responds to Information Provided on The GEO Group, Inc's Conference Call
March 14 2006 - 7:13AM
PR Newswire (US)
PALM BEACH GARDENS, Fla., March 14 /PRNewswire-FirstCall/ --
CentraCore Properties Trust (NYSE:CPV), a real estate investment
trust focused on essential purpose government real estate ("CPT" or
the "Company"), advises that on the fourth quarter 2005 earnings
conference call of The GEO Group, Inc., ("GEO") held on March 13,
2006, GEO, made an announcement regarding its ongoing relationship
with the Company and its intentions for the future. GEO, which is
the Company's largest tenant, also provided a letter to the
Company's Board of Trustees which set forth a summary of this
announcement. Shareholders may view this letter as an exhibit to
the Form 8-K filed today with the Securities and Exchange
Commission. The executive officers of the Company were not aware
this announcement was going to be made by GEO and had no prior
knowledge of GEO's intentions in this regard. As such, the Company
is unable to speculate on GEO's announcement and is currently
evaluating its response. About the Company. CentraCore Properties
Trust, based in Palm Beach Gardens, Fla., was formed in February
1998 to capitalize on the growing trend toward privatization in the
corrections industry. CPT has expanded its scope to include
essential purpose government real estate projects outside the
corrections sector, including mental health and higher education
facilities. CPT is dedicated to ownership of properties under
long-term, triple-net leases, which minimizes occupancy risk and
development risk. CPT currently owns 13 correctional facilities in
nine states, all of which are leased, with an aggregate completed
design capacity of 7,556 beds. Private Securities Litigation Reform
Act. This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding future events and future performance of the Company that
involve risks and uncertainties that could materially affect actual
results. Such forward-looking statements are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and are qualified in their entirety by
cautionary statements and risk factors disclosure contained in
certain of the Company's Securities and Exchange Commission
filings. For a description of certain factors that could cause
actual results to vary from current expectations and
forward-looking statements contained in this press release, refer
to documents that the Company files from time to time with the
Securities and Exchange Commission. These filings include the
Company's Form 10-K for the fiscal year ended December 31, 2005 and
subsequent periodic reports. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events. Contact: CentraCore Properties Trust
Shareholder Services (561) 630-6336, or access Company information
at http://www.centracorepropertiestrust.com/ DATASOURCE: CentraCore
Properties Trust CONTACT: CentraCore Properties Trust Shareholder
Services, +1-561-630-6336 Web site:
http://www.centracorepropertiestrust.com/
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