The GEO Group, Inc. Signs Contract with Maverick County, Texas for the Development and Operation of a 654-Bed Detention Facility

The GEO Group, Inc. (NYSE:GEO) ("GEO”) announced today that it has signed a contract with Maverick County, Texas (the "County”) for the development and operation of a 654-bed Detention Facility (the "Facility”) to be located in Eagle Pass, Texas. The project is being financed through the issuance of Maverick County Public Facilities Corporation project-revenue bonds. GEO will develop, manage, and operate the Facility, which is expected to be completed in the fourth quarter of 2008, under a three-year management agreement with the County subject to successive two-year renewal options. The Facility is expected to be used by the County and other State and/or Federal detention agencies. GEO expects that the Facility will generate approximately $10.0 million in annual operating revenues (excluding debt service requirements) at full occupancy. George C. Zoley, Chairman of the Board and Chief Executive Officer of GEO, said, "We are very pleased with the signing of this important contract with Maverick County, Texas. This facility will play an important role in helping meet the increased demand for correctional and detention bed space by Local, State and Federal agencies around the country. We look forward to the development and operation of this new facility.” Maverick County Commissioner Court Judge Jose Aranda said, "This new facility will bring good paying jobs and economic development to our community. We look forward to the many benefits this project will provide our citizens over the coming years.” County Sheriff Tomas Herrera added, "My office will ensure that the operation of this new facility meets the very highest standards of community safety and security, and that those who work in the facility are trained in accordance with all required professional standards.” The GEO Group, Inc. ("GEO") is a world leader in the delivery of correctional, detention, and residential treatment services to federal, state, and local government agencies around the globe. GEO offers a turnkey approach that includes design, construction, financing, and operations. GEO represents government clients in the United States, Australia, South Africa, Canada, and the United Kingdom. GEO’s worldwide operations include 69 correctional and residential treatment facilities with a total design capacity of approximately 59,000 beds. This press release contains forward-looking statements regarding future events and future performance of GEO 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) GEO’s ability to successfully pursue further growth and continue to enhance shareholder value; (2) GEO’s ability to access the capital markets in the future on satisfactory terms or at all; (3) risks associated with GEO’s ability to control operating costs associated with contract start-ups; (4) GEO’s ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into GEO’s operations without substantial costs; (5) GEO’s ability to win management contracts for which it has submitted proposals and to retain existing management contracts; (6) GEO’s ability to obtain future financing on acceptable terms; (7) GEO’s ability to sustain company-wide occupancy rates at its facilities; and (8) other factors contained in GEO’s Securities and Exchange Commission filings, including the forms 10-K, 10-Q and 8-K reports.