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                                                                EXHIBIT 99.1

               CCA SELLS NINE PROPERTIES TO REAL ESTATE TRUST


NASHVILLE, Tenn., July 18, 1997 -- Corrections Corporation of America (NYSE:
CXC) announced today that it has sold nine of its properties to CCA Prison
Realty Trust and is leasing them back under long-term agreements.

         In the transaction, finalized today, the company received a total of
approximately $308 million, which it plans to use to pay down debt and to
develop future projects. The nine facilities will be leased by CCA for terms
ranging from 10 to 12 years at a annual rate equal to 11% of the sales price.

         The prisons, with a total capacity of 6,687 beds, include the Houston
Processing Center in Houston, Texas, the Laredo Processing Center in Laredo,
Texas, the Bridgeport Pre-Parole Transfer Facility in Bridgeport, Texas, the
Mineral Wells Pre-Parole Transfer Facility in Mineral Wells, Texas, the T. Don
Hutto Correctional Center in Taylor, Texas, the West Tennessee Detention
Facility in Mason, Tenn., the Leavenworth Detention Center in Leavenworth, Kan,,
the Eloy Detention Center in Eloy, Ariz., and the Central Arizona Detention
Center in Florence, Ariz.

         CCA manages prisons and other correctional institutions for
governmental agencies. The company is the industry leader in private sector
corrections with 44,587 beds in 59 facilities under contract in the U.S., Puerto
Rico, Australia and the United Kingdom. CCA's full range of services include
finance, design, construction and management of new or existing facilities, as
well as long-distance inmate transportation.

         The press release contains forward-looking statements that involve
various risks and uncertainties. Actual results could differ materially from
those contained in these forward-looking



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statements due to certain factors, including business and economic conditions
and availability of financing. These and other risks and uncertainties are
detailed in the company's reports filed with the SEC.


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