Exhibit 99-1

                      Vectren to Update Business Strategies


Evansville, Indiana - (NYSE:VVC) Today, Vectren Corporation executive management
will conduct an analyst conference to discuss expected 2001 results and roll out
the Company's business strategies for fiscal year 2002 and beyond. The
conference will be broadcast via the Internet at 12:30 p.m. ET.

Included in the presentation will be a discussion of expected 2001 results that
reflect the impact of the extremely mild weather experienced to date as the
2001-2002 heating season begins. Revised estimates for 2001 are in the range of
$1.35-$1.40, before non-recurring items previously disclosed.

Management will also provide detailed discussions of business plans for 2002
that are expected to result in earnings per share to be in the range of 75 to 85
cents for the 2002 first quarter and $1.85 to $1.95 for the 2002 fiscal year.
These expectations have been reduced slightly from those previously released due
to the anticipated impacts from a mild recession.

Join the webcast for additional details at www.vectren.com.

For those unable to participate during the live webcast, the call will be
archived on the company's website until December 31, 2001.

Vectren Corporation is an energy and applied technology holding company
headquartered in Evansville, Indiana. Vectren's energy delivery subsidiaries
provide gas and/or electricity to nearly one million customers in adjoining
service territories that cover nearly two-thirds of Indiana and west central
Ohio. Vectren's non-regulated subsidiaries and affiliates currently offer
energy-related products and services to customers throughout the surrounding
region. These services include energy marketing, coal mining, utility
infrastructure services, and fiber-optic based communication services. To learn
more about Vectren, visit www.vectren.com.


This press release may contain  forward-looking  statements.  Vectren  wishes to
caution readers that actual results could differ materially from those that will
be projected in our discussions.  Additional detailed  information  concerning a
number of factors that could cause actual results to differ  materially from the
information that is provided to you is readily available in our report Form 10-K
filed with the Securities and Exchange  Commission on March 30, 2001, as amended
August 29, 2001.

Investor Contact:   Steven M. Schein, (812) 491-4209, sschein@vectren.com
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Media Contact:    Jeffrey W. Whiteside, (812) 491-4205, jwhiteside@vectren.com
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