VSE Announces Inclusion in the NASDAQ Global Select Market
VSE Also Added to the SPADE Defense Index
ALEXANDRIA, Va.-- VSE Corporation (NASDAQ GS:VSEC) reported today that it is included in the NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements. Prior to the change, VSE had been listed on the NASDAQ Global Market.
"VSE is an example of an industry leader that has achieved superior listing standards, which clearly defines the essence of the NASDAQ Global Select Market," said Bruce Aust, Executive Vice President, Corporate Client Group. "In recognizing VSE, we are highlighting their achievement in meeting the requirements to be included in the market with the highest listing standards in the world," added Mr. Aust.
VSE has also been added to the SPADE Defense Index effective December 31, 2008. The SPADE Defense Index (AMEX:^DXS) serves as an independent and impartial benchmark for the value that the markets ascribe to companies involved with defense, homeland security, and space. The index trades under the symbol DXS, similar to how the S&P 500 is used to benchmark the broader stock market. The value of and historical charts for the Index are available on most financial websites.
VSE CEO/President/COO Mo Gauthier said, "We are pleased that VSE as a publicly traded company has achieved this recognition. We anticipate that VSE stock will gain increased visibility as part of our inclusion in the NASDAQ Global Select Market and the SPADE Defense Index."
In July 2008 VSE reported that it was added to the broad-market Russell 3000(R) Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes. VSE membership in the Russell 3000(R) Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000(R) Index and Russell Microcap(R) Index, as well as the appropriate growth and value style indexes.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,900 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including First North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
About the SPADE Defense Index
The SPADE Defense Index employs a modified market capitalization formula and its value floats throughout the quarter. At that time, the Index is rebalanced and additions and subtractions to the Index are made. Currently, the Index has 54 constituents. Historical values with data from 30 Dec 1997 is available via financial websites using the 'DXS' ticker. For more information about the SPADE Defense Index please see the web site at http://www.spadeindex.com.
About VSE Corporation
VSE marks its 50th year as a government contractor in January 2009. Established in 1959, VSE is a diversified professional services company providing engineering and consulting services, systems integration, infrastructure support, and information technology management and solutions, principally to agencies of the United States Government and other government prime contractors at locations across the United States and around the world.
For additional information on VSE services and products, please see the company's web site at www.vsecorp.com or contact Randy Hollstein, VSE Corporate Vice President of Marketing, at (703) 329-3206.
Safe Harbor
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.
Source: VSE Corporation
Released January 16, 2009
