Exterran Holdings and Exterran Partners Report Second Quarter 2008 Results

August 6, 2008

HOUSTON--(BUSINESS WIRE)--Aug. 6, 2008--Exterran Holdings, Inc. (NYSE:EXH) and Exterran Partners, L.P. (NASDAQ:EXLP) today reported financial results for the second quarter 2008.

Exterran Holdings, Inc. Financial Results

Exterran Holdings reported net income for the second quarter 2008 of $21.7 million, or $0.33 per share, including $31.8 million in pretax charges, or approximately $0.29 per share, for estimated cost overruns in the fabrication segment. Net income was $49.4 million, or $0.73 per share, for the first quarter 2008 and $26.1 million, or $0.71 per share, for the second quarter 2007.

Revenue was $812.2 million for the second quarter 2008 compared to $740.1 million for the first quarter 2008 and $494.5 million for the second quarter 2007. EBITDA, as adjusted (as defined below), was $166.1 million for the second quarter 2008 compared to $211.2 million for the first quarter 2008 and $124.8 million for the second quarter 2007.

The merger of Hanover Compressor Company and Universal Compression Holdings, Inc. was completed on August 20, 2007, and periods prior to the merger reflect only Hanover's results. Merger and integration pretax charges totaled $1.5 million, or $0.01 per share, in the second quarter 2008 compared to $4.4 million, or $0.05 per share, in the first quarter 2008 and $3.1 million, or $0.05 per share, in the second quarter 2007. All share and per share amounts have been retroactively adjusted to reflect the merger conversion ratio of 0.325 shares of Exterran Holdings common stock for each share of Hanover common stock for all periods discussed or presented.

Stephen A. Snider, Exterran Holdings' President and CEO said, "Although disappointed that profitability in the second quarter was negatively impacted by cost overruns on two international fabrication projects, we are pleased overall with the solid demand for our products and services during the first half of 2008. Second quarter results reflect sequential increases in revenue in each of our international contract operations, aftermarket services and fabrication segments. Our North American contract operations business continues to face challenges, but we believe we are making progress as costs in that segment declined in the second quarter."

"During the second quarter, we were awarded several new international contract operations orders, more than doubling the backlog in that segment," continued Mr. Snider. "We remain optimistic about the prospects for our business in the last half of 2008 due to healthy market conditions in North America as well as strong demand for our Total Solutions products and services throughout Latin America and the Eastern Hemisphere."

Exterran Partners, L.P. Financial Results

Exterran Partners reported revenue of $35.0 million for the second quarter 2008 compared to $35.3 million for the first quarter 2008 and $18.8 million for the second quarter 2007. Net income was $6.1 million for the second quarter 2008 compared to $6.5 million for the first quarter 2008 and $2.3 million for the second quarter 2007. EBITDA, as further adjusted (as defined below), totaled $20.3 million for the second quarter 2008 compared to $19.2 million for the first quarter 2008 and $10.4 million for the second quarter 2007. Distributable cash flow (as defined below) totaled $14.0 million both for the second quarter 2008 and first quarter 2008 and $6.9 million for the second quarter 2007.

"Exterran Partners generated strong cash flows in the second quarter," commented Mr. Snider, Chairman, President and CEO of Exterran Partners' general partner. "Additionally, Exterran Partners completed its previously announced acquisition of customer contracts and compressors used to provide services under those contracts from Exterran Holdings and its affiliates for approximately $247 million on July 30. As previously stated, Exterran Partners expects the transaction, which significantly increased the size of EXLP's asset base, to be accretive to cash distributions per unit by approximately $0.15 per year. We remain very positive regarding the outlook for Exterran Partners due to the expectation of future drop-down transactions with Exterran Holdings as well as other growth opportunities."

On July 29, 2008, Exterran Partners announced a cash distribution of $0.425 per limited partner unit for the second quarter 2008 compared to $0.425 per limited partner unit for the first quarter 2008 and $0.35 per limited partner unit for the second quarter 2007. The aggregate amount of the cash distributions to all unitholders increased to $8.3 million for the second quarter 2008 as compared to $7.3 million for the first quarter 2008 as a result of units issued to Exterran Holdings in conjunction with the acquisition completed on July 30.

Conference Call Details

Exterran Holdings, Inc. (NYSE:EXH) and Exterran Partners, L.P. (NASDAQ:EXLP) announce the following schedule and teleconference information for their second quarter 2008 earnings release:

    --  Teleconference: Wednesday, August 6, 2008 at 11:00 a.m.
        Eastern Time (10:00 a.m. Central Time). To access the call,
        United States and Canadian participants should dial
        866-454-4205. International participants should dial
        913-312-0635 at least 10 minutes before the scheduled start
        time. Please reference Exterran conference call number
        9006649.

    --  Live Webcast: The webcast will be available in listen-only
        mode via the Companies' website: www.exterran.com.

    --  Webcast Replay: For those unable to participate, a replay will
        be available from 2:00 p.m. Eastern Time on Wednesday, August
        6, until 2:00 p.m. Eastern Time on Wednesday, August 13, 2008.
        To listen to the replay, please dial 888-203-1112 in the
        United States and Canada, or 719-457-0820 internationally, and
        enter access code 9006649.

With respect to Exterran Holdings, EBITDA, as adjusted, a non-GAAP measure, is defined as income from continuing operations plus income taxes, interest expense (including debt extinguishment costs and gain or loss on termination of interest rate swaps), depreciation and amortization expense, impairment charges, merger and integration expenses, minority interest, excluding non-recurring items, and extraordinary gains or losses.

With respect to Exterran Partners, EBITDA, as further adjusted, a non-GAAP measure, is defined as net income plus income taxes, interest expense, depreciation expense, non-cash selling, general and administrative expenses and any amounts by which cost of sales and selling, general and administrative costs are reduced as a result of caps on these costs contained in the Omnibus Agreement, which amounts are treated as capital contributions from Exterran Holdings for accounting purposes, and excluding non-recurring items.

With respect to Exterran Partners, distributable cash flow, a non-GAAP measure, is defined as net income plus depreciation expense, non-cash selling, general and administrative expenses, interest expense and any amounts by which cost of sales and selling, general and administrative costs are reduced as a result of caps on these costs contained in the omnibus agreement to which Exterran Holdings and Exterran Partners are parties (the "Omnibus Agreement"), which amounts are treated as capital contributions from Exterran Holdings for accounting purposes, less cash interest expense and maintenance capital expenditures, and excluding gains/losses on asset sales and non-recurring items.

With respect to Exterran Holdings, Gross Margin, a non-GAAP measure, is defined as total revenue less cost of sales (excluding depreciation and amortization expense).

With respect to Exterran Partners, Gross Margin, as adjusted, a non-GAAP measure, is defined as total revenue less cost of sales (excluding depreciation expense) plus any amounts by which cost of sales are reduced as a result of caps on these costs contained in the Omnibus Agreement, which amounts are treated as capital contributions from Exterran Holdings for accounting purposes.

About Exterran Holdings and Exterran Partners

Exterran Holdings, Inc. is a global market leader in full service natural gas compression and a premier provider of operations, maintenance, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings serves customers across the energy spectrum -- from producers to transporters to processors to storage owners. Headquartered in Houston, Texas, Exterran and its over 10,000 employees have operations in more than 30 countries.

Exterran Partners, L.P. was formed by Exterran Holdings to provide natural gas contract operations services to customers throughout the United States. Exterran Holdings indirectly owns a majority interest in Exterran Partners.

    For more information, visit www.exterran.com.

    Forward-Looking Statements

All statements in this release (and oral statements made regarding the subjects of 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 the control of Exterran Holdings and Exterran Partners (the "Companies"), which could cause actual results to differ materially from such statements. Forward-looking information includes, but is not limited to: Exterran Holdings' expectation of continuing healthy market conditions in North America, Latin America and Eastern Hemisphere for the remainder of 2008; expected cost levels in the North American contract operations business; the Companies' operational and financial strategies, and the Companies' ability to successfully effect those strategies; the Companies' financial and operational outlook and ability to fulfill that outlook; demand for the Companies' products and services and growth opportunities for those products and services; the expected level of accretion the recent acquisition from Exterran Holdings will generate to Exterran Partners' cash distributions per unit; the expected benefits of the transaction to Exterran Holdings and Exterran Partners; and Exterran Holdings' intention to continue to offer the balance of its U.S. contract operations assets to Exterran Partners.

While the Companies believe that the assumptions concerning future events are reasonable, they caution that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of their business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are: changes in master limited partnership equity markets and overall financial markets that impact the effect of the drop-down of additional assets to Exterran Partners; changes in tax laws that impact master limited partnerships, including drop-downs of additional assets to Exterran Partners; conditions in the oil and gas industry, including a sustained decrease in the level of supply or demand for oil and natural gas and the impact on the price of oil and natural gas; Exterran Holdings' ability to timely and cost-effectively obtain components necessary to conduct the Companies' business; changes in political or economic conditions in key operating markets, including international markets; changes in safety and environmental regulations pertaining to the production and transportation of oil and natural gas; and, as to each of the Companies, the performance of the other entity.

These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Exterran Holdings' Annual Report on Form 10-K for the year ended December 31, 2007, as amended by Amendment No. 1 thereto, Exterran Partners' Annual Report on Form 10-K for the year ended December 31, 2007, and those set forth from time to time in the Companies' filings with the Securities and Exchange Commission, which are currently available at www.exterran.com. Except as required by law, the Companies expressly disclaim any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

                       EXTERRAN HOLDINGS, INC.
      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
               (in thousands, except per share amounts)


                                              Three Months Ended
                                        ------------------------------
                                         June 30,  March 31, June 30,
                                           2008      2008      2007
                                         --------- --------- ---------
Revenues:
 North America contract operations       $194,607  $199,076  $ 99,562
 International contract operations        125,854   119,892    69,645
 Aftermarket services                      97,706    84,172    49,835
 Fabrication                              394,044   336,949   275,487
                                         --------- --------- ---------
                                          812,211   740,089   494,529
                                         --------- --------- ---------

Costs and expenses:
 Cost of sales (excluding depreciation
  and amortization expense):
   North America contract operations       86,303    88,288    41,376
   International contract operations       48,128    39,385    27,675
   Aftermarket services                    76,681    66,927    37,184
   Fabrication                            355,284   263,743   223,903
 Selling, general and administrative       95,339    89,687    54,300
 Merger and integration expenses            1,543     4,439     3,065
 Depreciation and amortization             92,415    90,449    51,364
 Fleet impairment                               -     1,450         -
 Interest expense                          30,105    33,220    28,182
 Equity in (income) loss of non-
  consolidated affiliates                  (6,962)   (6,093)   (6,279)
 Other (income) expense, net               (8,612)  (12,999)   (8,467)
                                         --------- --------- ---------
                                          770,224   658,496   452,303
                                         --------- --------- ---------
Income from continuing operations before
 income taxes and minority interest        41,987    81,593    42,226
Provision for income taxes                 17,084    29,977    16,162
Minority interest, net of taxes             3,243     2,643         -
                                         --------- --------- ---------
Income from continuing operations          21,660    48,973    26,064
Income from discontinued operations, net
 of tax                                         -       398         -
                                         --------- --------- ---------
 Net income                              $ 21,660  $ 49,371  $ 26,064
                                         ========= ========= =========
Earnings per share - Basic(1):
 Income from continuing operations       $   0.33  $   0.75  $   0.76
 Income from discontinued operations,
  net of tax                                    -      0.01         -
                                         --------- --------- ---------
      Net income                         $   0.33  $   0.76  $   0.76
                                         ========= ========= =========
Earnings per share - Diluted(1):
 Income from continuing operations (2)   $   0.33  $   0.73  $   0.71
 Income from discontinued operations,
  net of tax                                    -         -         -
                                         --------- --------- ---------
      Net income                         $   0.33  $   0.73  $   0.71
                                         ========= ========= =========
Weighted average common and equivalent
 shares outstanding (1):
 Basic                                     65,217    65,065    34,414
                                         --------- --------- ---------
 Diluted                                   65,904    68,831    38,368
                                         --------- --------- ---------

(1) Adjusted for the Hanover common share conversion ratio in the
 merger of Hanover and Universal for the period ended June 30, 2007.

(2) Net income for the diluted earnings per share calculation for the
 three-month periods ending June 30, 2008, March 31, 2008 and June 30,
 2007 is adjusted to add back interest expense and amortization of
 financing costs, net of tax, relating to the Company's convertible
 senior notes totaling zero, $1.2 million and $1.2 million,
 respectively.

                       EXTERRAN HOLDINGS, INC.
                  UNAUDITED SUPPLEMENTAL INFORMATION
                        (Dollars in thousands)


                                           Three Months Ended
                                   -----------------------------------
                                    June 30,    March 31,   June 30,
                                      2008        2008        2007
                                   ----------- ----------- -----------
Revenues:
 North America contract operations $  194,607  $  199,076  $   99,562
 International contract operations    125,854     119,892      69,645
 Aftermarket services                  97,706      84,172      49,835
 Fabrication                          394,044     336,949     275,487
                                   ----------- ----------- -----------
     Total                         $  812,211  $  740,089  $  494,529
                                   =========== =========== ===========

Gross Margin (1):
 North America contract operations $  108,304  $  110,788  $   58,186
 International contract operations     77,726      80,507      41,970
 Aftermarket services                  21,025      17,245      12,651
 Fabrication                           38,760      73,206      51,584
                                   ----------- ----------- -----------
     Total                         $  245,815  $  281,746  $  164,391
                                   =========== =========== ===========

Selling, General and
 Administrative                    $   95,339  $   89,687  $   54,300
    % of Revenues                          12%         12%         11%

EBITDA, as adjusted (1)            $  166,050  $  211,151  $  124,837
    % of Revenues                          20%         29%         25%

Capital Expenditures               $  153,664  $  102,575  $   69,451
Less: Proceeds from Sale of PP&E      (23,724)     (2,527)     (9,425)
                                   ----------- ----------- -----------
Net Capital Expenditures           $  129,940  $  100,048  $   60,026
                                   =========== =========== ===========

Gross Margin Percentage:
 North America contract operations         56%         56%         58%
 International contract operations         62%         67%         60%
 Aftermarket services                      22%         20%         25%
 Fabrication                               10%         22%         19%
 Total                                     30%         38%         33%

Reconciliation of GAAP to Non-GAAP
 Financial Information:
 Income from continuing operations $   21,660  $   48,973  $   26,064
 Depreciation and amortization         92,415      90,449      51,364
 Fleet impairment                           -       1,450           -
 Interest expense                      30,105      33,220      28,182
 Merger and integration expenses        1,543       4,439       3,065
 Minority interest                      3,243       2,643           -
 Provision for income taxes            17,084      29,977      16,162
                                   ----------- ----------- -----------
 EBITDA, as adjusted (1)              166,050     211,151     124,837
 Selling, general and
  administrative                       95,339      89,687      54,300
 Equity in (income) loss of non-
  consolidated affiliates              (6,962)     (6,093)     (6,279)
 Other (income) expense                (8,612)    (12,999)     (8,467)
                                   ----------- ----------- -----------
 Gross Margin (1)                  $  245,815  $  281,746  $  164,391
                                   =========== =========== ===========


                                    June 30,    March 31,   June 30,
                                      2008        2008        2007
                                   ----------- ----------- -----------

Debt                               $2,273,087  $2,326,104  $1,338,479
Stockholders' Equity                3,239,728   3,186,342   1,159,863
                                   ----------- ----------- -----------
Capitalization                     $5,512,815  $5,512,446  $2,498,342
Total Debt to Capitalization             41.2%       42.2%       53.6%

(1) Management believes disclosure of EBITDA, as adjusted, and Gross
 Margin, both non-GAAP measures, provides useful information to
 investors because, when viewed with our GAAP results and accompanying
 reconciliations, they provide a more complete understanding of our
 performance than GAAP results alone. Management uses EBITDA, as
 adjusted, and Gross Margin as supplemental measures to review current
 period operating performance, comparability measures and performance
 measures for period to period comparisons. In addition, EBITDA, as
 adjusted, is used by management as a valuation measure.

                       EXTERRAN HOLDINGS, INC.
                  UNAUDITED SUPPLEMENTAL INFORMATION
            (Horsepower in thousands; dollars in millions)


                                           June 30, March 31,
                                             2008     2008
                                           -------- ---------
Total Available Horsepower (at period
 end):
 North America contract operations            4,504     4,476
 International contract operations            1,456     1,461
                                           -------- ---------
     Total                                    5,960     5,937
                                           ======== =========

Total Operating Horsepower (at period
 end):
 North America contract operations            3,472     3,535
 International contract operations            1,367     1,350
                                           -------- ---------
     Total                                    4,839     4,885
                                           ======== =========

Horsepower Utilization (at period end):
 North America contract operations              77%       79%
 International contract operations              94%       92%
     Total                                      81%       82%


                                           June 30, March 31, June 30,
                                             2008     2008      2007
                                           -------- --------- --------
Fabrication Backlog:
 Compression & accessory                   $    327 $     354 $    299
 Production & processing                        821       919      732
                                           -------- --------- --------
     Total                                 $  1,148 $   1,273 $  1,031
                                           ======== ========= ========

                       EXTERRAN PARTNERS, L.P.
      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
               (in thousands, except per unit amounts)



                                               Three Months Ended
                                          ----------------------------
                                          June 30,  March 31,June 30,
                                            2008      2008     2007
                                          --------- -------- ---------


Revenue                                   $ 34,999  $35,267  $ 18,804

Costs and expenses:
 Cost of sales (excluding depreciation)     15,937   16,143     8,062
 Depreciation                                5,811    5,674     2,968
 Selling, general and administrative         4,745    3,001     3,426
 Interest expense                            3,445    3,801     2,093
 Other (income) expense, net                (1,129)     (10)       (3)
                                          --------- -------- ---------
     Total costs and expenses               28,809   28,609    16,546
                                          --------- -------- ---------
Income before income taxes                   6,190    6,658     2,258
Income tax (benefit) expense                   111      111        (6)
                                          --------- -------- ---------
 Net income                               $  6,079  $ 6,547  $  2,264
                                          ========= ======== =========

General partner interest in net income    $    186  $   187  $     45
                                          --------- -------- ---------

Limited partner interest in net income    $  5,893  $ 6,360  $  2,219
                                          ========= ======== =========

Weighted average limited partners units
 outstanding:
 Basic                                      16,679   16,679    12,650
                                          --------- -------- ---------

 Diluted                                    16,779   16,791    12,709
                                          --------- -------- ---------

Earnings per limited partner unit:
 Basic                                    $   0.35  $  0.38  $   0.18
                                          ========= ======== =========

 Diluted                                  $   0.35  $  0.38  $   0.17
                                          ========= ======== =========

                       EXTERRAN PARTNERS, L.P.
                  UNAUDITED SUPPLEMENTAL INFORMATION
           (Dollars in thousands, except per unit amounts)



                                              Three Months Ended
                                        ------------------------------
                                        June 30,  March 31,  June 30,
                                          2008       2008      2007
                                        --------- ---------- ---------

Revenue                                 $ 34,999  $  35,267  $ 18,804

Gross Margin, as adjusted (1)           $ 22,561  $  22,698  $ 12,911

EBITDA, as further adjusted (1)         $ 20,313  $  19,161  $ 10,411
    % of Revenue                              58%        54%       55%

Capital Expenditures                    $  7,503  $   4,469  $ 10,071
Less: Proceeds from Sale of Compression
 Equipment                                (5,275)         -         -
                                        --------- ---------- ---------
Net Capital Expenditures                $  2,228  $   4,469  $ 10,071
                                        ========= ========== =========

Gross Margin percentage, as adjusted          64%        64%       69%

Distributable cash flow (2)             $ 14,039  $  14,020  $  6,894

Distributions per Limited Partner Unit  $  0.425  $   0.425  $  0.350
Distribution to All Unitholders,
 including Incentive Distributions      $  8,346  $   7,290  $  5,957
   Distributable Cash Flow Coverage        1.68x      1.92x     1.16x

                                        June 30,  March 31,  June 30,
                                          2008       2008      2007
                                        --------- ---------- ---------

Debt                                    $217,000  $ 217,000  $121,000
Total Partners' Capital                  151,214    139,926    74,861
                                        --------- ---------- ---------
Capitalization                          $368,214  $ 356,926  $195,861
Total Debt to Capitalization                  59%        61%       62%
EBITDA, as further adjusted (1) to          5.9x       5.0x      5.0x
 Interest Expense

(1) Management believes disclosure of EBITDA, as further adjusted, and
 Gross Margin, as adjusted, both non-GAAP measures, provides useful
 information to investors because, when viewed with our GAAP results
 and accompanying reconciliations, they provide a more complete
 understanding of our performance than GAAP results alone. Management
 uses EBITDA, as further adjusted, and Gross Margin, as adjusted, as
 supplemental measures to review current period operating performance,
 comparability measures and performance measures for period to period
 comparisons. In addition, EBITDA, as further adjusted, is used by
 management as a valuation measure.

(2) Distributable cash flow, a non-GAAP measure, is a significant
 liquidity metric used by management to compare basic cash flows
 generated by us to the cash distributions we expect to pay our
 partners. Using this metric, management can quickly compute the
 coverage ratio of estimated cash flows to planned cash distributions.

                       EXTERRAN PARTNERS, L.P.
                  UNAUDITED SUPPLEMENTAL INFORMATION
                        (Dollars in thousands)



                                               Three Months Ended
                                           ---------------------------
                                           June 30, March 31, June 30,
                                             2008     2008      2007
                                           -------- --------- --------

Reconciliation of GAAP to Non-GAAP
 Financial Information:

 Net income                                $ 6,079  $  6,547  $ 2,264
 Income tax (benefit) expense                  111       111       (6)
 Depreciation                                5,811     5,674    2,968
 Cap on operating and selling, general and
  administrative costs provided by
  Exterran Holdings ("EXH")                  3,499     3,574    1,789
 Non-cash selling, general and
  administrative costs                       1,368      (546)   1,303
 Interest expense, net of interest income    3,445     3,801    2,093
                                           -------- --------- --------
 EBITDA, as further adjusted (1)            20,313    19,161   10,411
 Cash selling, general and administrative
  costs (see note 1 below)                   3,377     3,547    2,612
 Less: cap on selling, general and
  administrative costs provided by EXH           -         -     (112)
 Less: other income, expense, net           (1,129)      (10)       -
                                           -------- --------- --------
 Gross Margin, as adjusted for operating
  cost caps provided by EXH (1)            $22,561  $ 22,698  $12,911
 Other income, expense, net                  1,129        10        -
 Less: Gain on sale of compression
  equipment                                 (1,119)        -        -
 Less: Cash interest expense                (3,286)   (3,696)  (2,085)
 Less: Cash selling, general and
  administrative, as adjusted for cost
  caps provided by EXH                      (3,377)   (3,547)  (2,500)
 Less: Income tax (expense) benefit           (111)     (111)       6
 Less: Maintenance capital expenditures     (1,758)   (1,334)  (1,438)
                                           -------- --------- --------
 Distributable cash flow (2)               $14,039  $ 14,020  $ 6,894
                                           ======== ========= ========


 Cash flows from operating activities      $11,824  $  3,991  $ 5,658
 Amortization of debt issuance cost            (88)      (64)     (56)
 Amortization of fair value of acquired
  interest rate swaps                          (71)      (41)       -
 Cap on operating and selling, general and
  administrative costs provided by EXH       3,499     3,574    1,789
 Interest expense, net of interest income    3,445     3,801    2,093
 Cash interest expense                      (3,286)   (3,696)  (2,085)
 Maintenance capital expenditures           (1,758)   (1,334)  (1,438)
 Change in assets and liabilities              474     7,789      933
                                           -------- --------- --------
 Distributable cash flow (2)               $14,039  $ 14,020  $ 6,894
                                           ======== ========= ========


(1) Management believes disclosure of EBITDA, as further adjusted, and
 Gross Margin, as adjusted, both non-GAAP measures, provides useful
 information to investors because, when viewed with our GAAP results
 and accompanying reconciliations, they provide a more complete
 understanding of our performance than GAAP results alone. Management
 uses EBITDA, as further adjusted, and Gross Margin, as adjusted, as
 supplemental measures to review current period operating performance,
 comparability measures and performance measures for period to period
 comparisons. In addition, EBITDA, as further adjusted, is used by
 management as a valuation measure.

(2) Distributable cash flow, a non-GAAP measure, is a significant
 liquidity metric used by management to compare basic cash flows
 generated by us to the cash distributions we expect to pay our
 partners. Using this metric, management can quickly compute the
 coverage ratio of estimated cash flows to planned cash distributions.

                       EXTERRAN PARTNERS, L.P.
                  UNAUDITED SUPPLEMENTAL INFORMATION
                      (Horsepower in thousands)


                                               Three Months Ended
                                          ----------------------------
                                          June 30,  March 31, June 30,
                                            2008      2008      2007
                                          --------- --------- --------

Total Available Horsepower (at period
 end)                                          742       720      387
                                          ========= ========= ========

Average Operating Horsepower                   652       659      348
                                          ========= ========= ========

Horsepower Utilization:
 Spot (at period end)                           88%       91%      93%
 Average                                        89%       91%      93%

Combined U.S. Contract Operations
 Horsepower of Exterran Holdings and
 Exterran Partners covered by contracts
 converted to service agreements (at
 period end) (1)                             1,624     1,274    1,194

Total Available U.S. Contract Operations
 Horsepower of Exterran Holdings and
 Exterran Partners (at period end) (1)       4,393     4,365    2,147

% of U.S. Contract Operations Horsepower
 of Exterran Holdings and Exterran
 Partners covered by contracts converted
 to service agreements (at period end)
 (1)                                          37.0%     29.2%    55.6%

(1) Includes horsepower of Universal Compression Holdings and
 Universal Compression Partners at June 30, 2007.

CONTACT:
Exterran
David Oatman, 281-836-7035 (Investors)
Pat (Patricia) Wente, 281-836-7308 (Media)
Rick Goins, 281-836-7289 (Media)

SOURCE:
Exterran Holdings, Inc. and Exterran Partners, L.P.