CentraCore Properties Trust Announces Tax Treatment of 2005 Dividends

PALM BEACH GARDENS, Fla., Jan. 20 /PRNewswire-FirstCall/ -- CentraCore Properties Trust , formerly Correctional Properties Trust, a real estate investment trust (REIT), today announced the tax reporting information (2005 Federal Form 1099) for its 2005 dividends on its common shares. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of CentraCore Properties Trust dividends.

Nontaxable Total Taxable Distribution Record Payable Distribution Ordinary (Return of Date Date Per Share Dividends(1) Capital) 03/18/2005 03/30/2005 $0.450000 $0.435150 $0.014850 05/16/2005 06/01/2005 $0.450000 $0.435150 $0.014850 08/19/2005 09/02/2005 $0.450000 $0.435150 $0.014850 11/18/2005 12/02/2005 $0.450000 $0.435150 $0.014850 $1.800000 $1.740600 $0.059400 100% 96.70% 3.30% (1) No portion of the taxable ordinary dividends are Qualified Dividends.

Effective on the close of business on December 20, 2005, Correctional Properties Trust changed its name to CentraCore Properties Trust. The Company's common stock continues to trade under the ticker symbol "CPV", but using the new CUSIP number 15235H107. All of the 2005 dividends were paid prior to the name change, and as a result, were paid using the Company's old CUSIP number 22025E104.

CentraCore Properties Trust ("CPT"), based in Palm Beach Gardens, Fla., was formed in February 1998 to capitalize on the growing trend toward privatization in the corrections industry. CPT has expanded its scope to include essential real estate projects outside the corrections sector, including mental health and higher education facilities. CPT is dedicated to ownership of properties under long-term, triple-net leases, which minimizes occupancy risk and development risk. CPT currently owns 13 correctional facilities in nine states, all of which are leased, with an aggregate completed design capacity of 7,556 beds.

CONTACT: CentraCore Properties Trust Shareholder Services (561) 630-6336, or access Company information at http://www.centracorepropertiestrust.com/