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The GEO Group Reports First Quarter 2012 Results; Accelerates Dividend Policy To Third Quarter 2012 And Will Increase Cash Dividend In Fourth Quarter 2012

Business Segments Revenue

U.S. Corrections & Detention

For the first quarter 2012, U.S. Corrections & Detention revenue increased by approximately $4.5 million year-over-year to $246.1 million. First quarter 2012 revenues for U.S. Corrections & Detention reflect the activation of the Adelanto ICE Processing Center East in California in August 2011 and the Riverbend Correctional Facility in Georgia in December 2011 along with the opening of the Karnes Civil Detention Center in Texas and an expansion to the New Castle Correctional Facility in Indiana in the first quarter 2012. These facility activations were offset by deactivation of the Regional Correctional Center in New Mexico in the second quarter 2011, the Leo Chesney Community Correctional Facility in California in the third quarter 2011, and the Desert View and Central Valley Community Correctional Facilities in California in the fourth quarter 2011.

GEO Care

For the first quarter 2012, GEO Care revenue increased by approximately $12.8 million year-over-year to $109.7 million. This revenue increase was driven primarily by GEO’s acquisition of BI Incorporated (“BI”) in February 2011 as well as the activation of the 100-bed Montgomery County Mental Health Treatment Facility in Texas in March 2011 partially offset by the deactivation of the 177-bed Brooklyn Residential Reentry Center in the third quarter 2011.

International Services

For the first quarter 2012, International Services revenue increased by approximately $3.4 million year-over-year to $56.5 million driven primarily by positive foreign exchange rate fluctuations and the activation of the Dungavel House Immigration Removal Centre in Scotland in the third quarter 2011 partially offset by the deactivation of the Campsfield House Immigration Removal Centre in England in the second quarter 2011.

Reconciliation Tables and Supplemental Disclosure

GEO has made available a Supplemental Disclosure which contains reconciliation tables of pro forma net income to net income, Adjusted EBITDA to net income, Adjusted Funds from Operations to net income along with supplemental financial and operational information on GEO’s business segments. Please see the section of this press release below entitled “Note to Reconciliation Tables and Supplemental Disclosure - Important Information on GEO’s Non-GAAP Financial Measures” for information on how GEO defines pro forma net income, Adjusted EBITDA, and Adjusted Funds from Operations. GEO’s Reconciliation Tables can be found herein and in GEO’s Supplemental Disclosure which is available on GEO’s Investor Relations webpage at

2012 Financial Guidance

GEO has increased its earnings guidance for 2012. GEO expects its full year 2012 revenues to be in a range of $1.65 billion to $1.66 billion and its 2012 pro forma earnings per share to be in a range of $1.54 to $1.60 per share, excluding $0.12 per share in after-tax start-up/transition expenses, international bid and proposal expenses, and M&A related expenses.

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