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Technology Stocks : VSE Corp (VSEC)--turnaround is about complete
VSEC 180.76+0.7%3:59 PM EDT
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To: Paul Lee who started this subject3/7/2003 11:59:52 AM
From: Paul Lee   of 97
 
VSE Discontinues Pursuit of Strategic Alternatives
PR NEWSWIRE - March 07, 2003 11:54
ALEXANDRIA, Va., Mar 7, 2003 /PRNewswire-FirstCall via COMTEX/ -- VSE Corporation (Nasdaq: VSEC) announced today that its board of directors has determined to discontinue VSE's previously announced pursuit of strategic business alternatives, including the potential sale of the company. Having considered certain strategic alternatives, including a review of offers by third parties, the board has determined that superior value can be achieved for shareholders through continuing to operate the company in accordance with its ongoing business plan. VSE will, however, continue to review strategic business opportunities that may arise from time to time.

VSE Chairman, President and CEO/COO Don Ervine said, "Based on the announced contract awards received by VSE during the past several months and our decision to exit the telecommunications technologies market, we believe VSE has an opportunity to increase its revenues and profitability in its traditional business areas over the next two or three years. We are excited about our prospects for growth and look forward to reporting on our progress during 2003."
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