Corrections Corp. to call preferred stock

New York, May 14 - Corrections Corp. of America (B) said that it will call the remaining 912,756 shares of its outstanding series B cumulative preferred stock on June 28.

Corrections Corp., a Nashville, Tenn.-based operator of private detention and corrections facilities under contract with state and municipal government agencies, said that it will pay the holders an amount equal to $24.46 per share plus $0.7175 per share in accrued and unpaid dividends up to the call date, without interest, payable in cash, for a total call price of $25.1775 per share. Dividends on the shares will cease to accrue on and after the call date.

Corrections Corp. will on the call date deposit funds necessary for the repurchase in trust with The Bank of New York, the redemption agent, for the account of the holders of the shares.

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