CPV Cbs Corp. New Senior Notes

Correctional Properties Trust Announces Tax Treatment of 2004 Dividends PALM BEACH GARDENS, Fla., Jan. 18 /PRNewswire-FirstCall/ -- Correctional Properties Trust (NYSE:CPV), a real estate investment trust (REIT), today announced the tax reporting information (2004 Federal Form 1099) for its 2004 dividends on its common shares (CUSIP 22025E104). Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Correctional Properties Trust dividends. Total Taxable Total Unrecap Record Payable Distribution Ordinary Capital Gain Sec. 1250 Date Date Per Share Dividends(1) Distribution Gain(2) 02/17/2004 03/02/2004 $0.450000 $0.283500 $0.166500 $0.068850 05/14/2004 06/01/2004 $0.450000 $0.283500 $0.166500 $0.068850 08/20/2004 09/02/2004 $0.450000 $0.283500 $0.166500 $0.068850 11/17/2004 12/02/2004 $0.450000 $0.283500 $0.166500 $0.068850 12/30/2004 01/11/2005 $0.180000 $0.113400 $0.066600 $0.027540 $1.980000 $1.247400 $0.732600 $0.302940 100% 63.00% 37.00% (1) No portion of the taxable ordinary dividends are Qualified Dividends. (2) Unrecaptured Section 1250 Gain is a subset of, and included in, the Total Capital Gain Distribution amount. No portion of the 2004 dividend was a nontaxable distribution (Return of Capital). Correctional Properties Trust, based in Palm Beach Gardens, Florida, was formed in February 1998, to capitalize on the growing trend toward privatization in the corrections industry. Correctional Properties Trust is dedicated to ownership of correctional facilities under long-term, triple-net leases, which minimizes occupancy risk and development risk. Correctional Properties Trust currently owns 12 correctional facilities in nine states, all of which are leased, with an aggregate initial design capacity of 6,856 beds. CONTACT: Correctional Properties Trust Shareholder Services (561) 630-6336, or access Company information at http://www.correctionalpropertiestrust.com/ DATASOURCE: Correctional Properties Trust CONTACT: Correctional Properties Trust Shareholder Services, +1-561-630-6336 Web site: http://www.correctionalpropertiestrust.com/

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