The GEO Group Says City Of Big Spring Enters Into 10-Yr Intergovernmental Service Agreement With US ICE For Activation Of Federal Immigration Processing Center At 2,329-Bed Big Spring Complex In Texas

The GEO Group, Inc. (NYSE:GEO) ("GEO" or the "Company") announced today that the City of Big Spring, Texas has entered into a 10-year intergovernmental service agreement with U.S. Immigration and Customs Enforcement ("ICE") for the activation of a federal immigration processing center at the 2,329-bed Big Spring Complex in Texas (the "Big Spring Complex"), comprised of the 1,404-bed Flightline Facility and the 925-bed Cedar Hill Facility.

GEO will provide support services at the Big Spring Complex, which are expected to include the exclusive use of the Facility by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and transportation services.

The Big Spring Complex is expected to generate approximately $200 million in annual revenues for GEO in the first full year of operations.