Hanover and Universal Merge to Create Exterran Holdings, Inc.

Hanover Compressor and Universal Compression reported that, at the companies' respective stockholders meetings, the stockholders of each company approved by a substantial margin the merger of the two companies into a new company, Exterran Holdings, Inc. The stockholders of both companies also approved the adoption of the Exterran 2007 Stock Incentive Plan and the Exterran Employee Stock Purchase Plan. Hanover and Universal expect the merger to close on Monday, August 20, 2007. On the day following the merger closing, Exterran's common stock will begin trading under the symbol "EXH" on the New York Stock Exchange, and the common stock of Hanover and Universal will no longer be traded.

Hanover Compressor Company is a global market leader in full-service natural gas compression and a leading provider of service, fabrication and equipment for oil and natural gas production, processing and transportation applications. Hanover sells and rents this equipment and provides complete operation and maintenance services, including run-time guarantees for both customer-owned equipment and its fleet of rental equipment.

Universal Compression Holdings, headquartered in Houston, Texas, is a leading natural gas compression services company, providing a full range of contract compression, sales, operations, maintenance and fabrication services to the natural gas industry worldwide.


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