EXHIBIT 99.1

(CORRECTIONS CORPORATION OF AMERICA LOGO)


Contact:  Karin Demler, (615) 263-3005



             CORRECTIONS CORPORATION OF AMERICA ANNOUNCES CLOSING OF
                    COMMON STOCK OFFERING AND NOTES OFFERING


NASHVILLE, Tenn. - May 7, 2003 - Corrections Corporation of America (NYSE: CXW)
today announced the closing of a public offering of 7,600,000 shares of its
common stock, plus an additional 1,140,000 shares pursuant to the exercise in
full of the underwriters' over-allotment option, at a price of $19.50 per share.
Of the 8,740,000 total shares sold, 6,400,000 shares were sold by the Company
and 2,340,000 shares were sold by a selling stockholder. The Company did not
receive any proceeds from the sale of shares by the selling stockholder. In
addition, Corrections Corporation of America today announced the closing of the
issuance of $250 million aggregate principal amount of its 7 1/2% Senior Notes
due 2011.

As a result of the closing of the common stock offering and notes offering, the
Company has announced that the financing condition to its tender offer to
purchase for cash up to 4,204,947 shares of its Series B Cumulative Convertible
Preferred Stock (CUSIP Nos. 22025Y 30 8 and 74264N 30 3) at a fixed price of
$26.00 per share has been satisfied. The tender offer will expire at 12:00
midnight, New York City time, on Tuesday, May 13, 2003, unless extended.

Copies of the prospectus supplement and accompanying prospectus relating to the
common stock offering and notes 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.

The dealer manager for the tender offer is Lehman Brothers Inc. The information
agent is D.F. King & Co., Inc.

Questions regarding the tender offer should be directed to Darrell Chiang at
Lehman Brothers, at 800-438-3242 or 212-528-7581. Requests for tender offer
documentation should be directed to D.F. King & Co., at 888-605-1956 or
212-269-5550.

This press release shall not constitute an offer to purchase or a solicitation
of acceptance of the tender offer, which may be made only pursuant to the terms
of the offer to purchase and related letter of transmittal. The tender offer is
not being made to stockholders in any jurisdiction where the making or accepting
of the offer would violate the laws of that jurisdiction. In any jurisdiction
where the laws require the offer to be made by a licensed broker or dealer, the
offer shall be deemed made on behalf of the Company by Lehman Brothers Inc. or
one or more registered brokers or dealers under the laws of such jurisdiction.