For many years the band's lead singer and principal songwriter Peter Hammill had rejected the idea of a VdGG re-union, but in 2004 (following two unannounced re-unions at Hammill concerts), work began on an official re-union album. Present was the result. It consists of one disc of compositions (five songs plus an instrumental, "Boleas Panic"), and one disc of studio improvisations. The band had always improvised in the studio throughout their history, but never before (except for the bootleg-quality Time Vaults), had any of these improvisations been officially released.
In 2005, the band embarked on a successful re-union tour. Only two songs from Present were played on the tour: "Every Bloody Emperor" and "Nutter Alert".