Correctional Properties Trust Declares Special Dividend

Correctional Properties Trust Declares Special Dividend 


PALM BEACH GARDENS, Fla., Dec. 20  /PRNewswire-FirstCall/ -- Correctional
Properties Trust (NYSE:CPV), a real estate investment trust (REIT), today
announced that its Board of Trustees declared a special dividend of $0.18
(eighteen cents) per share on each common share of beneficial interest, payable
January 11, 2005, to shareholders of record at the close of business on
December 30, 2004.

The special dividend was declared following the recent sale of the Mountain
View Correctional Facility and Pamlico Correctional Facility.

Correctional Properties Trust, based in Palm Beach Gardens, Florida, was formed
in February 1998, to capitalize on the growing trend toward privatization in
the corrections industry.  Correctional Properties Trust is dedicated to
ownership of correctional facilities under long-term, triple-net leases, which
minimizes occupancy risk and development risk.

Correctional Properties Trust currently owns 12 correctional facilities in nine
states, all of which are leased, with an aggregate initial design capacity of
6,856 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. This information is qualified in its
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. Such filings include, without limitation,
the Company's Form 10-K, Forms 10-Q, Registration Statements on Form S-11 and
S-3, and Form 8-K.

CONTACT: Correctional Properties Trust Shareholder Services, [phone], or
access Company information at http://www.correctionalpropertiestrust.com/ 

DATASOURCE: Correctional Properties Trust



CONTACT:  Correctional Properties Trust Shareholder Services,

[phone]



Web site:  http://www.correctionalpropertiestrust.com/ 

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