HOUSTON, Jan. 21 /PRNewswire/ -- Universal Compression, Inc. announced
today that it has increased from $4.10 to $19.09 the consent fee payable for
each $1,000 principal amount of notes at maturity in connection with its offer
to purchase and consent solicitation relating to consents to certain proposed
amendments to the indenture governing its 9-7/8% Senior Discount Notes due
2008. The deadline for the delivery of consents has been extended to
5:00 p.m., New York City time, on Wednesday, January 24, 2001. The Tender
Withdrawal Date has been extended to midnight, New York City Time, on Friday,
February 2, 2001. The Company will not further extend the Tender Withdrawal
Date unless otherwise required by law.
The tender offer will expire at midnight, New York City time, on Tuesday,
February 6, 2001, unless terminated or extended by Universal Compression, Inc.
The offer and consent solicitation are subject to all other terms and
conditions set forth in the Offer to Purchase and Consent Solicitation
Statement dated January 2, 2001.
Universal Compression, Inc. announced the tender offer and consent
solicitation on January 2, 2001. The tender offer and consent solicitation
relate to Universal Compression, Inc.'s acquisition of Weatherford Global and
the refinancing of existing credit and operating lease facilities of Universal
Compression, Inc. and Weatherford Global. Neither the Weatherford Global
merger nor the refinancing of these credit and lease facilities is conditioned
upon completion of this tender offer and consent solicitation. If less than
all of the 9-7/8% Senior Discount Notes are tendered, Universal Compression,
Inc. intends to reduce the amounts funded under the new operating lease
facilities.
This announcement is not an offer to purchase or a solicitation of an
offer to purchase or a solicitation of consents with respect to the Senior
Discount Notes. The tender offer and consent solicitation are being made by
the Offer to Purchase and Consent Solicitation Statement.
Universal Compression, Inc. is the operating subsidiary of Universal
Compression Holdings, Inc., a publicly traded company (NYSE ticker symbol:
UCO), both of which are headquartered in Houston, Texas. Universal
Compression, Inc. is a leading natural gas compression services company,
providing a full range of rental, sales, operations, maintenance and
fabrication services, and products to the domestic and international natural
gas industry.
Visit Universal Compression's Web site at www.universalcompression.com
(which shall not be deemed to be incorporated in or a part of this press
release)
SOURCE Universal Compression, Inc.
Web site: http: //www.frbinc.com http://www.universalcompression.com
CONTACT: Richard W. FitzGerald, Senior Vice President and Chief Financial Officer of Universal Compression, 713-335-7000