Versar, Inc. Awarded Iraq Personal Services II Contract From U.S. Army Corps of Engineers Valued At $10.69 Million

SPRINGFIELD, Va., July 22, 2014 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) announced today that it was awarded an Iraq Personal Services II contract from the U.S. Army Corps of Engineers (USACE), with a maximum contract value of $10.69 million. The firm fixed price IDIQ contract is a single award with a three-year period of performance consisting of a base year and two option years with a potential for a six-month extension after year three.

Versar was also awarded its first Task Order under the new contract, valued at $2.23 million with services beginning on August 7, 2014.

Tony Otten, CEO of Versar, said, "This new contract award demonstrates the continued quality support and capacity development we provide to the U.S. Army Corps of Engineers in Iraq.  We are very pleased to continue our extremely successful relationship with USACE and look forward to extending our ten years of continuous operations in Iraq by another three years."

VERSAR, INC., headquartered in Springfield, Virginia, is a publicly traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and professional services market areas.

VERSAR operates the corporate web sites, www.versar.com, and www.versarpps.com, and www.jmwaller.com.

This news 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 fiscal year ended June 28, 2013, as updated from time to time in the Company's periodic filings. 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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SOURCE Versar, Inc.