Hanover Gets Requisite Consents in Connection with Its Tender Offers

Hanover Compressor says that, in connection with its previously announced tender offers and consent solicitations for $550 million of its outstanding senior notes (as described in the table below and, collectively, the "Notes"), it has received the requisite consents to amend the indentures governing the Notes. As of 5:00 p.m., New York City time, on August 1, 2007 (the "Consent Payment Deadline"), the Company had received tenders and consents as displayed in the table below.

The supplemental indentures effecting the proposed amendments have been executed and have become effective, and the amendments to the indentures will become operative upon the acceptance for purchase of the Notes by the Company. The amendments to the indentures eliminate substantially all of the restrictive covenants and eliminate or modify certain events of default in the indentures governing the Notes, as described in the Offer to Purchase and Consent Solicitation Statement dated as of July 19, 2007 ("the Offer to Purchase"). Withdrawal rights with respect to tendered Notes have expired. Accordingly, Notes tendered may no longer be withdrawn and consents delivered may no longer be revoked.

Each holder who validly tenders its Notes and delivers consents at or after the Consent Payment Deadline will not be entitled to receive the consent payment of $30 for each $1,000 principal amount of Notes tendered by such holder and accepted for purchase pursuant to a tender offer.

The tender offers and consent solicitations will expire at 5:00 p.m., New York City time, on August 17, 2007, unless extended or earlier terminated by the Company. The Company reserves the right to terminate, withdraw or amend the tender offers and consent solicitations at any time subject to applicable law.

Principal   % Tendered
                                                  Amount        and
                                               Tendered and   With
                                                   With      Respect
                                               Respect to       to
                                                   Which      Which
                                   Principal    Consents     Consents
                          CUSIP      Amount        Were       Were
   Title of Security     Number    Outstanding  Delivered    Delivered
8.625% Senior Notes due 410768AF2
          2010                    $200,000,000 $199,815,000     99.91%
9.0% Senior Notes due   410768AG0
          2014                    $200,000,000 $200,000,000       100%
7.5% Senior Notes due   410768AH8
          2013                    $150,000,000 $150,000,000       100%