UCLP Universal Compression Partners, L.P. (MM)

HOUSTON, Oct. 23 /PRNewswire-FirstCall/ -- Universal Compression Holdings, Inc. (NYSE:UCO) announced today that it has entered into a five-year $500 million senior secured credit agreement. The lead banks in the syndicate for the facility are Wachovia Capital Markets, LLC and Deutsche Bank Securities Inc. Universal used approximately $330 million under the new senior secured credit facility, together with debt assumed by Universal Compression Partners, L.P. (NASDAQ:UCLP) and proceeds from the sale of UCLP equity interests pursuant to the exercise of the over-allotment option in the UCLP initial public offering, to repay all balances under the prior senior secured credit facility. The new facility will be used for working capital, acquisitions and general corporate purposes. Universal, headquartered in Houston, Texas, is a leading natural gas compression services company, providing a full range of contract compression, sales, operations, maintenance and fabrication services to the domestic and international natural gas industry. http://www.newscom.com/cgi-bin/prnh/20011008/UCOLOGO http://photoarchive.ap.org/ DATASOURCE: Universal Compression Holdings, Inc. CONTACT: David Oatman, Vice President, Investor Relations of Universal Compression Holdings, Inc., +1-713-335-7460

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