CORRECTING and REPLACING Penn Virginia Corporation Declares Dividend

RADNOR, Pa.--

First graph, first sentence of release should read: a regular quarterly dividend of $0.05625 per share (sted a regular quarterly dividend of $0.5625 per share).

    The corrected release reads:

    PENN VIRGINIA CORPORATION DECLARES DIVIDEND

Penn Virginia Corporation (NYSE:PVA) announced today that its Board of Directors declared a regular quarterly dividend of $0.05625 per share payable September 5, 2007 to shareholders of record at the close of business on August 10, 2007. This will be the Company's 442nd 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 reserves in onshore regions of the U.S., including the Appalachian Basin, the Cotton Valley play in east Texas, the Selma Chalk play in Mississippi, the Mid-Continent region and the Gulf Coast of Louisiana and Texas. PVA also owns approximately 82 percent of Penn Virginia GP Holdings, L.P. (NYSE:PVG), the owner of the general partner and the largest unit holder 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 the Company, please visit the Company's website at www.pennvirginia.com.

Source: Penn Virginia Corporation