Air Force Awards Versar, Inc. $9.7 Million in Additional Work.SPRINGFIELD, Va. -- VERSAR, Inc. (Amex: VSR VSR Very Short Reach (Ciena/Cisco design for high speed, 10Gbps data) VSR Variable Speed Reversible VSR Very Short Reach (optical interconnection; Sprint) VSR Volume Search Radar ) announced today that the U.S. Air Force awarded Versar, Inc. a modification to its existing Task Order and a follow-on Task Order for Construction Management and Quality Assurance operations in Iraq. These awards total $9.7 million which will fund operations through June 2007. The total Air Force Iraq Program has now grown to $38 million since it began in October 2004. This work will be performed by VIAP, Versar's international organization that specializes in engineering and construction and project management in conflict, hazardous and challenging environments. Dr. Ted Prociv, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Versar said "This award recognizes Versar's total capabilities by expanding our scope of work to include construction management and provides for higher funding levels to cover our increasing workload. Led by our outstanding international group, Versar has proven program management capabilities that can be implemented anywhere in the world." VERSAR, INC., headquartered in Springfield, VA, is a publicly held infrastructure program management company for the Federal Government and the commercial market specializing in homeland defense, engineering and construction management, environmental health and safety and the management of toxic and hazardous materials. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, and http://www.geomet.com; and a B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business portal for homeland defense products and services, http://www.nbcprotect.com and http://www.dtaps.com. This press release contains forward-looking information. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission for the year ended June 30, 2006. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements. |
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