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Universal Compression Announces Public Equity Offering

May, 29, 2001

HOUSTON, May 29 /PRNewswire/ -- Universal Compression Holdings, Inc. (NYSE: UCO) today announced that it has filed a registration statement with the Securities and Exchange Commission to sell 4.5 million shares of the Company's common stock to the public, consisting of 1.5 million shares which are being offered by the Company and 3.0 million shares which are being offered by certain selling stockholders, including Castle Harlan and its affiliates. Weatherford International, Inc. (NYSE: WFT), which currently owns approximately 48 percent of the Company's outstanding common stock, will not be participating in this offering. The underwriters may also purchase on a pro rata basis up to an additional 225,000 shares from the Company and an additional 450,000 shares from the selling stockholders. The Company intends to use the net proceeds from the sale of its shares for acquisitions and general corporate purposes.

The managing underwriters of the offering will be Merrill Lynch & Co., Salomon Smith Barney, First Union Securities, Inc., Lehman Brothers, Howard Weil, a division of Legg Mason Wood Walker, Inc., and Simmons & Company International. When available, a copy of the prospectus may be obtained from Merrill Lynch & Co., 4 World Trade Center, Prospectus Department, Street Level, New York, NY 10080.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State.

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SOURCE Universal Compression Holdings, Inc.
CONTACT: David Oatman, Director, Investor Relations of Universal Compression Holdings, 713-335-7460 ; or General Inquiries, Jeffrey Wilhoit of The Financial Relations Board BSMG Worldwide, 312-640-6757

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