EXHIBIT 99.1

[CORRECTIONS CORPORATION OF AMERICA LOGO]


CONTACT:  KARIN DEMLER, (615) 263-3005


                  CORRECTIONS CORPORATION OF AMERICA ANNOUNCES
                       PRICING OF OFFERING OF COMMON STOCK

Nashville, Tenn., May 2, 2003 - Corrections Corporation of America (NYSE: CXW)
today announced the public offering of 7,600,000 shares of common stock at a
price of $19.50 per share. Of the 7,600,000 shares offered, 6,400,000 shares are
being sold by the Company and 1,200,000 shares are being sold by a selling
stockholder. The underwriters also have a 30-day over-allotment option to
purchase up to 1,140,000 additional shares of common stock from the selling
stockholder.

Corrections Corporation of America intends to use its net proceeds from the sale
of common stock and its concurrent senior notes offering for the following
purposes:

(i)      To finance the purchase price of up to 4,204,947 shares (of which
         3,741,297 shares have been tendered and not withdrawn as of May 1,
         2003) of the Company's Series B Preferred Stock pursuant to a tender
         offer made by the Company at a price per share of $26.00, net to the
         seller;

(ii)     To finance the redemption price of 4,000,000 shares of the Company's
         Series A Preferred Stock which are expected to be called for redemption
         following consummation of the offerings;

(iii)    To finance the repurchase of 3,362,899 shares of common stock to be
         issued upon conversion of the Company's outstanding $40 million
         convertible notes and to pay accrued interest on those notes to the
         date of purchase; and

(iv)     To repay a portion of the borrowings outstanding under the term loan
         portion of the Company's Senior Credit Facility.

The common stock offering is being underwritten by Lehman Brothers Inc., UBS
Warburg LLC, SG Cowen Securities Corporation, First Analysis Securities
Corporation, BB&T Capital Markets and Morgan Joseph & Co., Inc.

Copies of the prospectus supplement and accompanying prospectus relating to the
offering may be obtained by contacting Lehman Brothers Inc., c/o ADP Financial
Services, Integrated Distribution Services, 1155 Long Island, Edgewood, New York
11717, or by calling 631-254-7106.




This press release does not constitute an offer to sell, or a solicitation of an
offer to buy, any securities of the Company.

Forward-Looking Statements

The foregoing statements regarding Corrections Corporation of America's
intentions with respect to the contemplated offerings and other transactions
described above are forward-looking statements under the Private Securities
Litigation Reform Act of 1995, and actual results could vary materially from the
statements made. Corrections Corporation of America's ability to complete the
offerings and other transactions described above successfully is subject to
various risks, many of which are outside of its control, including prevailing
conditions in the public capital markets and other risks and uncertainties as
detailed from time to time in the reports filed by the Company with the
Securities and Exchange Commission.