EXHIBIT
99.2
News Release
Contact: Karin Demler, Investor Relations 615-263-3005
Corrections Corporation of America
Announces 3-For-2 Stock Split
Announces 3-For-2 Stock Split
NASHVILLE, Tenn., August 3, 2006 — Corrections Corporation of America (NYSE: CXW) (the
“Company”) announced today that its Board of Directors has declared a 3-for-2 stock split in the
form of a 50 percent stock dividend on its common stock. The stock dividend is payable on
September 13, 2006 to stockholders of record on September 1, 2006. Each shareholder of record at
the close of business on the record date will receive one additional share of the Company’s common
stock for every two shares of common stock held on that date. Shareholders will receive cash in
lieu of fractional shares. The stock split will increase the number of shares of common stock
outstanding from approximately 40.3 million to approximately 60.4 million.
About the Company
The Company is the nation’s largest owner and operator of privatized correctional and detention
facilities and one of the largest prison operators in the United States, behind only the federal
government and three states. The Company currently operates 65 facilities, including 40
company-owned facilities, with a total design capacity of approximately 72,500 beds in 19 states
and the District of Columbia. The Company specializes in owning, operating and managing prisons and
other correctional facilities and providing inmate residential and prisoner transportation services
for governmental agencies. In addition to providing the fundamental residential services relating
to inmates, the Company’s facilities offer a variety of rehabilitation and educational programs,
including basic education, religious services, life skills and employment training and substance
abuse treatment. These services are intended to reduce recidivism and to prepare inmates for their
successful re-entry into society upon their release. The Company also provides health care
(including medical, dental and psychiatric services), food services and work and recreational
programs.
Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome
of future events that are forward-looking statements as defined within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially from the statements made.
These include, but are not limited to, the risks and uncertainties associated with: (i)
fluctuations in the Company’s operating results because of, among other things, changes in
occupancy levels, competition, increases in cost of operations, fluctuations in interest rates and
risks of operations; (ii) changes in the privatization of the corrections and detention industry,
the public acceptance of the
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