Penn Virginia Corporation Declares Dividend

440th Consecutive Quarterly Dividend Payment

RADNOR, Pa.--

Penn Virginia Corporation (NYSE:PVA) announced today that its Board of Directors declared a regular quarterly dividend of $0.1125 per share payable March 20, 2007 to shareholders of record at the close of business on March 7, 2007. This will be the Company's 440th consecutive quarterly dividend payment.

Headquartered in Radnor, PA and a member of the S&P SmallCap 600 Index, Penn Virginia Corporation (NYSE: PVA) is an independent natural gas and oil company focused on the exploration, acquisition, development and production of natural gas reserves. PVA also owns approximately 82 percent of Penn Virginia GP Holdings, L.P. (NYSE: PVG), the owner of the general partner and the largest unitholder of Penn Virginia Resource Partners, L.P. (NYSE: PVR), a manager of coal properties and related assets and the operator of a midstream natural gas gathering and processing business. For more information about PVA, please visit the Company's website at www.pennvirginia.com.

Source: Penn Virginia Corporation