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Hanover Compressor Company Completes Sale of U.S. Amine Treating Rental Assets to Crosstex Energy Services

February, 02, 2006

HOUSTON--(BUSINESS WIRE)--Feb. 2, 2006--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 production, processing and transportation applications, announced today that it has completed the sale of its U.S. amine treating rental assets of its subsidiary, Hanover Compression Limited Partnership, to Crosstex Energy Services, L.P. for approximately $51.5 million.

About Hanover Compressor Company

Hanover Compressor Company (NYSE:HC) 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 production, 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, Hanover's customers include both major and independent oil and gas producers and distributors as well as national oil and gas companies.

Forward-looking Statements

Certain matters discussed in this presentation are "forward-looking statements" intended to qualify for the safe harbors established by the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included herein constitute forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.

CONTACT: Hanover Compressor Company, Houston
Investor Relations Inquiries:
Stephen York, 832-554-4856
syork@hanover-co.com

SOURCE: Hanover Compressor Company

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