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VSE Increases Quarterly Cash Dividend.

Board Authorizes a 20% Increase in Payout Rate

ALEXANDRIA, Va., May 4 /PRNewswire-FirstCall/ -- VSE Corporation reported today that, by recent action of its Board of Directors, it has increased its quarterly cash dividend rate to $0.06 a share (annual rate of $0.24 a share versus $0.20 a share). VSE was established in 1959 and has paid cash dividends for the past 34 years. The last increase in the company's quarterly dividend rate occurred in May 2004. The payment and amount of future dividends will depend on existing conditions, including the company's earnings, financial condition, working capital requirements, and other factors.

VSE will pay a quarterly cash dividend at the rate of $.06 cents a share on August 23, 2005, to stockholders of record as of August 2, 2005.

VSE provides diversified services to the engineering, energy and environment, defense, and homeland security markets from more than 15 locations across the United States and around the world. For the three month period ended March 31, 2005, VSE reported revenues of $65.9 million and earnings of $1.3 million ($0.55 per share diluted). For its last fiscal year ended December 31, 2004, VSE reported revenues of $216.0 million and earnings of $3.4 million ($1.49 per share diluted).

For more information on VSE services and products, please see the Company's web site at http://www.vsecorp.com/ or contact Len Goldstein, Director of Business and New Product Development at (703) 317-5202.

News Contact: C. S. Weber, CAO, (703) 329-4770.

This news release contains statements which, to the extent they are not recitations of historical fact, constitute "forward looking statements" under federal securities laws. All such statements are intended to be subject to the safe harbor protection provided by applicable securities laws. For discussions identifying some important factors that could cause actual VSE results to differ materially from those anticipated in the forward looking statements in this news release, see VSE's public filings with the Securities and Exchange Commission.

CONTACT: C. S. Weber, CAO of VSE Corporation, +1-703-329-4770

Web site: http://www.vsecorp.com/
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Publication:PR Newswire
Geographic Code:1USA
Date:May 4, 2005
Words:348
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