The GEO Group Awarded Bureau of Prisons Contract for the Continued Management of the Rivers Correctional Institution in Winton, North Carolina

The GEO Group (NYSE:GEO) (“GEO”) announced today that it has been awarded a contract by the Federal Bureau of Prisons (“BOP”) for the continued management of the company-owned Rivers Correctional Institution (the “Facility”) located in Winton, North Carolina.

The new contract will have a term of ten years, inclusive of renewal options. Under the terms of the new contract, the Facility will house up to 1,450 BOP inmates. At the 90 percent occupancy guaranteed level, or 1,135 beds, the new contract is expected to generate annual revenues of approximately $34.0 million.

George C. Zoley, Chairman and CEO of GEO said, “We appreciate the confidence placed in our company by the Federal Bureau of Prisons with this important contract award. Our Rivers Correctional Institution in Winton, North Carolina plays a key role in helping meet the need for federal correctional bed space. We look forward to strengthening our long-standing public-private partnership with the BOP and the community of Winton.”

The GEO Group, Inc. ("GEO") is a world leader in the delivery of correctional, detention, and residential treatment 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 the management and/or ownership of 62 correctional and residential treatment facilities with a total design capacity of approximately 60,000 beds, including projects under development.

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.