1070985--2/24/2010--CORRECTIONS_CORP_OF

related topics

{debt, indebtedness, cash}

{capital, credit, financial}

{provision, law, control}

{personnel, key, retain}

{cost, contract, operation}

{loan, real, estate}

{condition, economic, financial}

We are dependent upon our senior management and our ability to attract and retain sufficient qualified personnel. Adverse developments in our relationship with our employees could adversely affect our business, financial condition or results of operations. We are subject to necessary insurance costs. We may be adversely affected by inflation. We are subject to legal proceedings associated with owning and managing correctional and detention facilities. We are subject to risks associated with ownership of real estate. Risks related to facility construction and development activities may increase our costs related to such activities. We may be adversely affected by the rising cost and increasing difficulty of obtaining adequate levels of surety credit on favorable terms. Our issuance of preferred stock could adversely affect holders of our common stock and discourage a takeover. Our charter and bylaws and Maryland law could make it difficult for a third party to acquire our company. Risks Related to Our Leveraged Capital Structure Our indebtedness could adversely affect our financial health and prevent us from fulfilling our obligations under our debt securities. Our revolving credit facility and other debt instruments have restrictive covenants that could affect our financial condition. Servicing our indebtedness will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control. We are required to repurchase all or a portion of our senior notes upon a change of control. Despite current indebtedness levels, we may still incur more debt.

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1070985--2/24/2010--CORRECTIONS_CORP_OF_AMERICA