Veri-Tek International, Corp. Announces Full Exercise of Underwriters' Over-Allotment Option WIXOM, Mich., March 2 /PRNewswire-FirstCall/ -- Veri-Tek International, Corp. (Amex: VCC "Veri-Tek" or the "Company") announced today that the underwriter of its initial public offering has exercised its over-allotment option to purchase 375,000 shares of Veri-Tek's common stock at the initial public offering price of $6.00 per share and that the over-allotment purchase was closed today. All of the over-allotment shares were sold by Veri-Tek. After giving effect to the sale of the over-allotment option shares, total proceeds from the initial public offering (net of underwriting discount and estimated offering expenses) are estimated to be approximately $15.4 million. Veri-Tek intends to use the net proceeds to repay approximately $7.0 million of senior debt and for general corporate purposes, including working capital, capital expenditures primarily to expand the Company's manufacturing and testing capacity and sales and marketing. Anderson & Strudwick is the sole manager in this offering. The final prospectus relating to the offering may be obtained by contacting Anderson & Strudwick, 707 East Main Street, Richmond, VA 23219, (800)-767-2424. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws in any such state or jurisdiction. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. ABOUT VERI-TEK INTERNATIONAL Founded in 1993, Veri-Tek designs, develops and builds specialty equipment for the automotive and heavy equipment industries utilizing patented and patent pending technology that identifies product defects and production problems early in the customers' manufacturing process. The Company also provides testing services for automotive driveline products and can manufacture certain products for the automotive industry via proprietary manufacturing methods. SAFE HARBOR STATEMENT Certain statements made by Veri-Tek International, Corp. in this presentation and other periodic oral and written statements, including filings with the Securities and Exchange Commission, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, as well as statements which address operating performance, events or developments that we believe or expect to occur in the future, including those that discuss strategies, goals, outlook or other non-historical matters, or which relate to future sales or earnings expectations, cost savings, awarded sales, volume growth, earnings or a general belief in our expectations of future operating results, are forward- looking statements. The forward-looking statements are made on the basis of management's assumptions and estimations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. The forward-looking statements are subject to risks and uncertainties that may cause actual results to materially differ from those contained in the statements. Some, but not all of the risks, include our ability to obtain future sales; our ability to successfully integrate acquisitions; changes in worldwide economic and political conditions, including adverse effects from terrorism or related hostilities including increased costs, reduced production or other factors; costs related to legal and administrative matters; our ability to realize cost savings expected to offset price concessions; inefficiencies related to production and product launches that are greater than anticipated; changes in technology and technological risks; increased fuel costs; work stoppages and strikes at our facilities and that of our customers; the presence of downturns in customer markets where the Company's goods and services are sold; financial and business downturns of our customers or vendors; and other factors, uncertainties, challenges, and risks detailed in Veri-Tek's public filings with the Securities and Exchange Commission. Veri-Tek does not intend or undertake any obligation to update any forward- looking statements. DATASOURCE: Veri-Tek International, Corp. CONTACT: David V. Harper of Veri-Tek International, Corp., +1-248-560-1000 Web site: http://www.veri-tek.com/

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