Estate of Ronald G. Keeton, Deceased, Kimberly Keeton Spence, Personal Representative - Page 3

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               On the date of his death, and at all times since                       
          incorporation, decedent owned 100 percent of the stock of Keeton            
          Corrections, Inc. (Keeton Corrections), a subchapter C                      
          corporation, and 100 percent of the stock of Non-Secure Programs,           
          Inc. (NSP), an S corporation.  Decedent materially participated             
          in the operation of both companies.  Both companies operate                 
          corrections facilities.  Keeton Corrections, a Kentucky                     
          corporation authorized to do business in Florida, was                       
          incorporated in 1985 and has operated continuously since that               
          time.  Keeton Corrections initially contracted with the United              
          States, the Commonwealth of Kentucky, and the State of Florida to           
          provide corrections facilities and services as part of the                  
          Federal and State penal systems.  NSP, a Florida corporation, was           
          incorporated on March 22, 1995.  NSP is not a subsidiary of                 
          Keeton Corrections.   After the incorporation of NSP, Keeton                
          Corrections and the State of Florida assigned the Florida State             
          contracts to NSP.  Keeton Corrections continued to operate                  
          corrections facilities under Federal contract in Florida and                
          various other States.  Upon his death, decedent passed his                  
          interests in both Keeton Corrections and NSP to his daughter,               
          Kimberly Spence.  Ms. Spence continues to operate these                     
          companies.                                                                  
               The estate timely filed a Form 706, United States Estate               
          (and Generation Skipping Transfer) Tax Return, on October 24,               






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