Price & Gregory Announce Combination to ExpandCapabilities in Growing Market.

HOUSTON -- Charles Price, Chairman of H.C. Price Company, and Paul Gregory, President of Gregory & Cook Construction, Inc., are pleased to announce the formation of a new company, Price Gregory Services, Incorporated ("Price Gregory Services" or "the Company"). The new company will bring together

The combined company will be better positioned to serve its existing clients through a larger asset base, greater geographic coverage, and expanded management depth that is greater than the sum of the parts. In addition, Price Gregory Services will serve as a strong foundation to build a broader midstream infrastructure service provider that will seek to add complementary services to its existing portfolio of capabilities. To this end, Mr. Price and Mr. Gregory have recruited two former executives from Hanover Compressor Company, John Jackson (formerly Hanover's President & CEO) and Lee Beckelman (formerly Hanover's CFO) to augment the corporate management team, and have solicited an equity investment from SCF Partners, a leading energy-focused private equity firm, to help finance the company's future growth.

Mr. Jackson and Mr. Beckelman will be responsible for leading the future strategic growth and financing initiatives, and Mr. Tom White, currently the President of Price, will become the Chief Operating Officer of The Company. Mr. Gregory and Mr. Price will become Directors of Price Gregory Services.

H.C. Price Company (and related companies) is a market-leading privately-held pipeline and general contractor based in Dallas, TX. The company has long been regarded as one of the most technologically advanced pipeline contractors in the world and has consistently participated in the most challenging and important pipeline projects domestically and internationally since its founding in the 1920's. The company has operations in the United States (lower 48), Canada, and Alaska, and has experience working internationally.

Gregory & Cook Construction, Inc. (and predecessor companies) is an established, privately-held pipeline contractor based in Houston, TX. The company has a long track record of successful pipeline projects for major domestic and international customers and has operations in the United States, and also has experience operating internationally.

SCF Partners will assist with financing the transaction through an equity investment, and will assist the Company with strategic growth initiatives. SCF is a Houston-based private equity firm that provides capital and strategic growth assistance to build energy service and equipment companies that operate throughout the world. SCF Partners has over $1 billion under management, has invested over $1.2 billion in 45 leading energy services companies and has assisted its portfolio companies with over 200 acquisitions worth over $6 billion.