Hanover and Universal Complete Merger

Exterran Holdings, Inc. announced that Hanover Compressor Company and Universal Compression Holdings, Inc. completed their merger of equals, originally announced in February 2007. Effective Tuesday, August 21, 2007, the common stock of the new combined company, Exterran, will trade under the symbol "EXH" on the New York Stock Exchange, and the common stock of Hanover and Universal will no longer be traded. Each common share of Hanover will be converted to 0.325 shares of Exterran, and each common share of Universal will be converted to one common share of Exterran.

"This combination of two great companies creates a leader in compression and surface production solutions for the worldwide oil and gas industry," said Exterran's President and Chief Executive Officer, Stephen A. Snider. "The merger positions Exterran with a broad range of products and services, a wide geographic presence and the financial strength necessary to meet the full compression services and production and processing equipment requirements of our customers around the globe. Our terrific team of employees has worked hard to reach this important milestone, and we look forward to seizing the growth opportunities that our enhanced size and scope provide."

Exterran Holdings, Inc. is the global market leader in full service natural gas compression and a premier provider of sales, operations, maintenance, fabrication, service and equipment for oil and gas production, processing and transportation applications. Exterran serves customers across the energy spectrum -- from producers to transporters to processors to storage owners. Headquartered in Houston, Texas, Exterran and its 11,000 employees have operations in over 30 countries worldwide.