\parbox+\vspace not working correctly

[Jeremy Johnson]

Hi,

I want to have a mail closing statement like follows:

#ERT#{\parindent=3.5in \parbox[c]{2.5in}{\noindent Sincerely yours,
\newline \vspace{1.0in} John Doe }


Although lyx correctly indents the closing statement block of text,
it does not add the vertical space needed for signing the letter.
In addition it indents the line "John Doe" by about 1 space.

Is this a bug in lyx? or do I merely misunderstand lyx? The above
code fragment works just fine in latex/kile/texmaker.

Thanks.