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Wackenhut Corrections Corporation Awarded Contract by the Department of Homeland Security - Bureau of Immigration and Customs Enforcement
By Press Release
Published: 07/28/2003

BOCA RATON, FL - Wackenhut Corrections Corporation (NYSE: WHC) ('WCC') announced today that it has been awarded a contract by the Department of Homeland Security ('DHS') - Bureau of Immigration and Customs Enforcement ('BICE'), for the provision of a long-term residential transition facility for adult women at the Broward County Transition Center in Deerfield Beach, Florida. This new contract replaces an existing emergency contract for up to 150 non-criminal female detainees.

The Broward County Transition Center will provide services for an estimated 200 non-criminal female adults, with an option to expand by an additional 50 at DHS-BICE's request. The five-year contract is for a one-year base period beginning October 1, 2003, with four one-year options. The contract is expected to generate annual revenues of approximately $7 million, for a total of $35 million over the contract period. The Broward Transition Center is also under contract with the Broward Sheriff's Office to house up to 100 work release detainees.

George C. Zoley, Chairman of the Board and Chief Executive Officer of WCC, stated: 'We believe that the facility and programs we have developed in Broward County, Florida for this population will serve as a benchmark for further facilities of this type throughout the United States. We have been providing these services for the Department of Homeland Security - Bureau of Immigration and Customs Enforcement on an emergency basis since August 2002. This award further strengthens the public-private partnership we have enjoyed with this critical federal agency for almost seventeen years. We appreciate the confidence the agency continues to have in our company.'

WCC also provides services on behalf of the DHS-BICE in the states of California, Colorado, New York and Texas.

WCC is a world leader in the delivery of correctional and detention management, health and mental health services to federal, state and local government agencies around the globe. WCC offers a turnkey approach that includes design, construction, financing and operations. The Company represents 31 government clients servicing 49 facilities in the United States, Australia, South Africa, New Zealand, and Canada with a total design capacity of approximately 36,800 beds.

This press release contains forward-looking statements regarding future events and future performance of the Company 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) WCC's ability to maintain and strengthen its public-private partnership with the Department of Homeland Security - Bureau of Immigration and Customs Enforcement; (2) risks associated with WCC's ability to control operating costs associated with contract start-ups; (3) WCC's ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into WCC's operations without substantial costs; (4) WCC's ability to win management contracts for which it has submitted proposals and to retain existing management contracts; (5) WCC's ability to obtain future financing on acceptable terms; (6) WCC's ability to sustain company-wide occupancy rates at its facilities; and (7) other factors contained in WCC's Securities and Exchange Commission filings, including the forms 10-K, 10-Q and 8-K reports.



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