Exh. 99-1
                                               News
                                               Release

                                                     Vectren Corporation

                                                     P.O. Box 209

                                                     Evansville, IN 47702-0209

FOR IMMEDIATE RELEASE

December 10, 2003
                               Vectren Corporation
                         Provides 2004 Earnings Guidance


Evansville, Indiana - Vectren Corporation (NYSE:VVC) today announced 2004
earnings guidance of $1.60 to $1.75 per share of common stock, attributable to
growth in its core businesses. Vectren also affirmed its prior guidance of $1.55
to $1.65 per share for 2003.

Said Niel C. Ellerbrook, Chairman, President and CEO, "During 2003 we improved
our liquidity and balance sheet as we completed permanent financing strategies,
including the sale of $200 million of debt and $169 million of equity. We
continue to invest capital into our core utility business, which has enabled us
to create significant shareholder value over long periods of time. During 2004
we will initiate regulatory strategies to provide for the timely recovery of
costs and the opportunity to earn fair returns on our invested capital. We would
expect 2005 would further benefit from the full period of new returns allowed
through implementation of these ratemaking strategies. We are also projecting
strong growth in our nonregulated businesses primarily through improved yield
and pricing arrangements within our coal mining operations and improved
operations in our core nonregulated business segments."

Senior management will discuss the Company's corporate strategies and provide
financial and operating expectations during an analyst conference being held
tomorrow, Thursday, December 11, 2003 at 12:30 EST in New York City. You are
invited to listen to the live Webcast and view the supporting slides by
accessing the Investor Relations link on Vectren's Web site at www.Vectren.com.
Interested parties may also view the slide presentation and listen to the
Webcast replay via Vectren's Web site beginning two hours after the completion
of the Webcast.

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 document contains forward-looking statements, which are based on
management's beliefs and assumptions that derive from information currently
known by management. Vectren wishes to caution readers that actual results could
differ materially from those contained in this document. 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 as amended on Form 10-K/A filed with the
Securities and Exchange Commission on June 18, 2003.

Investor Contact  Steven M. Schein, (812) 491-4209, sschein@vectren.com

Media Contact     Jeffrey W. Whiteside, (812) 491-4205, jwhiteside@vectren.com

                                       ###