Hanover Compressor Company Completes Tender Offers and Consent Solicitations

    HOUSTON, August 20 /CNW/ - Hanover Compressor Company ("Hanover")
(NYSE:  HC) today announced that it has completed 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").
As of 5:00 p.m., New York City time, on August 17, 2007, Hanover had received
tenders of Notes as displayed in the table below.

                                      Principal    Principal
                           CUSIP        Amount       Amount
    Title of Security     Number      Outstanding   Tendered   % Tendered
      8.625% Senior
      Notes due 2010     410768AF2   $200,000,000 $199,915,000     99.96%
    9.0% Senior Notes
         due 2014        410768AG0   $200,000,000 $200,000,000       100%
    7.5% Senior Notes
         due 2013        410768AH8   $150,000,000 $150,000,000       100%

    On August 20, 2007, Hanover accepted for purchase all of the tendered
Notes. As a result, the supplemental indentures effecting certain proposed
amendments to the indentures governing the Notes have become operative. 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.

    As a result of Hanover's acceptance for purchase of all of its
outstanding 9.0% Senior Notes due 2014 and 7.5% Senior Notes due 2013, the
indentures relating to those series of Notes are expected to be satisfied and

    Wachovia Securities acted as exclusive dealer manager in connection with
the tender offers and consent solicitations.

For further information:

For further information: Hanover Compressor Company, Houston Vice
President, Investor Relations & Technology Stephen P. York, 832-554-4856

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