VERSAR, Inc. Participation in $7.5 Billion Air Force Construction Program Extended
23 June 2006 - 6:29AM
PR Newswire (US)
SPRINGFIELD, Va., June 22 /PRNewswire-FirstCall/ -- VERSAR, Inc.
(AMEX: VSR) announced today that the Air Force Center for
Environmental Excellence (AFCEE), in San Antonio, Texas extended
the period of performance for Versar and 26 other contractors
currently participating in the $7.5 billion Worldwide Environmental
Restoration and Construction (WERC) program. The contract is a task
order based Indefinite Delivery/Indefinite Quality contract.
Versar's contract has been modified to extend the period of
performance by adding five (5) option years, with the ordering
period under option year 5 ending in December 2013. Versar
estimates its share of the work will be approximately $50 million
during the extended term of the WERC program. The WERC program is
designed to provide a full range of construction and engineering
activities to meet all Air Force base requirements worldwide.
Requirements are primarily environmental but will also include
traditional engineering and construction needs. Dr. Ted Prociv,
President and CEO of Versar said "Extending Versar's participation
in the WERC program to 2013 enhances Versar's ability to support
the U.S. Air Force's broad range of construction and engineering
needs. This contract represents yet another mechanism which we can
use to support the transformation of Versar to a company which
manages large infrastructure projects. It also allows Versar to
participate in the enormous military base realignment and closure
program which will begin in 2007." VERSAR, INC., headquartered in
Springfield, VA, is a publicly held professional services firm
supporting government and industry in national defense/homeland
defense programs, environmental health and safety and
infrastructure revitalization. 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 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 are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act 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 filed with the Securities and Exchange Commission for the
year ended July 1, 2005. The forward-looking statements are made as
of the date hereof and Versar does not undertake to update its
forward-looking statements. Contact: James Dobbs (703) 642-6712
Senior Vice President Email: Investor Relations Contact: Andrew J.
Kaplan (732) 747-0702 Barry Kaplan Associates 623 River Road Fair
Haven, NJ 07704 Email: DATASOURCE: VERSAR, Inc. CONTACT: James
Dobbs, Senior Vice President, +1-703-642-6712, ; or Investor
Relations, Andrew J. Kaplan of Barry Kaplan Associates,
+1-732-747-0702, Web site: http://www.versar.com/
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