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Report on Wackenhut Corrections Corporation (WHC)




Report on Wackenhut Corrections Corporation  (WHC)
March 23, 2000
TO:  HPD Investment Group
FR:  Nancy Montague
For  March meeting

1. (market price/share as of close of market, 3/22/00 - $9.15/16)
Shares owned:  105
Market price:   $1043.44
Cost basis:        $1730.13  ($16.48/share, averaged for 
two separate purchases plus commissions)
Percent loss:     -39.69%

2. Research - 4 Strong Buy; 4 moderate buy

3	Press - 
*	March 7 - Wackenhut Corrections Contracts With Bureau of Prisons To
Build, Manage 1,200-Bed Correctional Facility In N.C.
PALM BEACH GARDENS, Fla., March 7 -- Wackenhut Corrections has signed a
contract with the U.S. Department of Justice, Federal Bureau of Prisons to
design, construct, finance and manage a 1,200-bed correctional facility in
Winton, Hertford County, North Carolina to house District of Columbia
prisoners. 
As announced by Wackenhut Corrections in October 1999, the Bureau of Prisons
had issued a conditional acceptance of Wackenhut's bid for the project at
that time, pending a public review of its potential environmental impact. 
*	March 16:  Wackenhut Posted a "response"  to reports and news
articles about the Jena (LA) Juvenile Justice Center:
		"WHC has expressed disappointment with the contents of a
recently released report from the US DOJ that deals with the operation of
Wackenhut's juvenile corrections facility near Jena in LaSalle Parish, LA.  
		WHC does not believe that the DOJ report accurately reflects
the conditions in the Jena facility today.  It is the company's opinion the
the report is overstated and ignores progress toward resolving the real
problems identified earlier at the facility, including improvements that
have been made in recent weeks and months in both programs and staff.  The
Corp ahs committed to the State of LA to make this facility the finest of
its kind anywhere.  This is still a fairly new facility, and ... there are
problems related to  ... staff inexperience and high turnover.

		***They were given the opportunity to present their side of
the story to a LA judge on March 23 - if there are any discussions
concerning this meeting I'll bring an update to the Sunday meeting.  Nancy

4.	In February the WHC board authorized the repurchase of up to 500,000
shares of common stock.  
In January, the company named Richard Michau as president of its nuclear
services unit.  It also named John J. Bulfin Sr VP and GC.