Hanover Compressor General Counsel Plans to Step Down

February 27, 2004

HOUSTON--(BUSINESS WIRE)--Feb. 27, 2004--Hanover Compressor Company (NYSE:HC), a global market leader in full service natural gas compression and a leading provider of service, fabrication, and equipment for oil and natural gas processing and transportation applications, today announced that Mark Berg, Senior Vice President and General Counsel, plans to leave the company in the near future to pursue other business interests.

"Mark joined Hanover as a senior officer at a time when the company was faced with serious challenges, playing a critical role in the transition of our company and management team," remarked Victor Grijalva, Hanover's Chairman of the Board. "Mark led the team that successfully saw Hanover through resolution of the shareholder litigation and settlement with the Securities and Exchange Commission."

"We are disappointed to lose Mark, but fully understand his desire to take on a new challenge," commented Chad Deaton, President and Chief Executive Officer of Hanover. "Mark's determination, knowledge, integrity and drive were instrumental in helping to resolve many of the company's issues and to place us on a more solid base to build from in the future. We appreciate Mark's willingness to work with us to identify a capable successor and assure a smooth transition. On behalf of management and the Board of Directors, we extend our best wishes to Mark knowing he will be highly successful in his future endeavors."

Commenting on his decision to leave Hanover, Berg stated, "I appreciate the opportunity to contribute during my time at Hanover and would like to extend my thanks to Messrs. Deaton, Grijalva, Brumley and the other members of the Board for their leadership and support. I am also extremely proud of the professionals who worked with me to build the company's first Legal Department and extend my gratitude for their success and hard work."

Mr. Berg joined Hanover in May 2002 after having served as Executive Vice President and General Counsel of American General Corporation from 1997 and until its merger with American International Group in 2001.

About Hanover Compressor

Hanover Compressor Company (www.hanover-co.com) is a global market leader in full service natural gas compression and a leading provider of service, fabrication and equipment for oil and natural gas processing and transportation applications. Hanover sells and rents this equipment and provides complete operation and maintenance services, including run-time guarantees for both customer-owned equipment and its fleet of rental equipment. Founded in 1990 and a public company since 1997, Hanover's customers include both major and independent oil and gas producers and distributors as well as national oil and gas companies.

    CONTACT: Hanover Compressor Company, Houston
             Lee Beckelman, 281-447-8787

    SOURCE: Hanover Compressor Company