EXHIBIT 99-1


                                                     P.O. Box 209 Evansville, IN
                                                     47702-0209
July 31, 2003

FOR IMMEDIATE RELEASE

       Vectren Corporation Announces Equity Offering of 6.5 Million Shares

Evansville, Indiana - Vectren Corporation (NYSE:VVC) announced today that it
plans to issue 6.5 million new shares of the company's common stock. The
offering, when completed, will bring total shares outstanding to approximately
74.6 million. The proceeds will be used for general corporate purposes,
including repayment of short-term debt maturities.

The offering will be made under the company's existing effective shelf
registration statement, and is expected to price during the week of August 4,
2003. The company also has granted the underwriters a 30-day option to purchase
up to an additional 975,000 shares of the company's common stock to cover any
over-allotments.

Goldman, Sachs and Co. will serve as sole book runner and lead manager for the
offering. Credit Suisse First Boston, Merrill Lynch and Co., A.G. Edwards &
Sons, Inc. and Edward D. Jones & Co., L.P. will serve as co-managers. This news
release does not constitute an offer to sell or the solicitation of an offer to
buy any securities. Any such offer will be made only by means of a prospectus.
Potential investors should read the prospectus and prospectus supplement
carefully before making any investment decision. A copy of the preliminary
prospectus relating to the offering may be obtained from the underwriters at
Goldman, Sachs & Co., 1 New York Plaza, New York, NY 10004 and will be available
on the Internet at www.sec.gov.

About Vectren

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 over 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 broadband communication services. To learn more
about Vectren, visit www.vectren.com.

Safe Harbor for Forward Looking Statements
This presentation contains statements that may be considered forward looking
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934, such as management's expectations of
future earnings, cash position, source of funds, coverage ratios, market risk
and the anticipated completion of various facilities under development. These
statements speak of the Company's plans, goals, beliefs or expectations, refer
to estimates or use similar terms. Actual results could differ materially from
those anticipated, because the realization of those results is subject to many
uncertainties, some of which are discussed in more detail in the Company's
periodic reports filed with the SEC. All forward looking statements included in
this presentation are based upon information presently available, and the
Company assumes no obligation to update any forward looking statement.

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