HOUSTON, May 15 /PRNewswire-FirstCall/ -- Universal Compression, Inc.
("UCI"), a wholly-owned subsidiary of Universal Compression Holdings, Inc.
(NYSE: UCO), announced today that it proposes to make a private placement of
$175 million principal amount of Senior Notes due 2010. The net proceeds of
the offering, together with other funds, will be used to pay the purchase
price of UCI's outstanding 9-7/8% senior discount notes purchased pursuant to
a tender offer therefore being made by UCI or the redemption price of any
9-7/8% notes subsequently redeemed. The proposed new Senior Notes will not be
registered under the Securities Act of 1933, as amended, or any state
securities laws and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements. This
press release shall not constitute an offer to sell or a 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.
Statements about Universal's outlook and all other statements in this
release other than historical facts are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements rely on a number of assumptions concerning future
events and are subject to a number of uncertainties and factors, many of which
are outside Universal's control, which could cause actual results to differ
materially from such statements. While Universal believes that the
assumptions concerning future events are reasonable, it cautions that there
are inherent difficulties in predicting certain important factors that could
impact the future performance or results of its business. Among the important
factors that could cause actual results to differ materially from those
indicated by such forward-looking statements are the demand for Universal's
products and services and worldwide economic and political conditions. These
and other risk factors are discussed in Universal's filings with the
Securities and Exchange Commission, copies of which are available to the
public. Universal expressly disclaims any intention or obligation to revise
or update any forward-looking statements whether as a result of new
information, future events, or otherwise.
SOURCE Universal Compression, Inc.