H&E Equipment Services Completes Debt Refinancing

August 7, 2006 • H&E Equipment Services, Inc., Baton Rouge, La., and its wholly owned subsidiary, H&E Finance Corp. announced the completion of their cash tender offer and consent solicitation for their 11-1/8% Senior Secured Notes due 2012 and 12-1/2% Senior Subordinated Notes due 2013 (Notes). The company also announced the closing of its previously announced private offering of $250 million aggregate principal amount of its 8-3/8% senior unsecured notes due 2016 (New Notes).

The company has used the net proceeds of the offering of the New Notes, together with cash on hand and borrowings under its existing senior secured credit facility, to purchase the $195.5 million in aggregate principal amount of the Senior Secured Notes (representing approximately 97.8% of the previously outstanding Senior Secured Notes), and the $53 million in aggregate principal amount of the Senior Subordinated Notes (representing 100% of the previously outstanding Senior Subordinated Notes) that were validly tendered pursuant to the tender offer and consent solicitation prior to midnight on August 3, 2006, the expiration date of the tender offer and consent solicitation. The total principal amount, accrued and unpaid interest, consent fee amounts, and premiums paid for the Senior Secured Notes was approximately $217,568,501. The total principal amount, accrued and unpaid interest, consent fee amounts and premiums paid for the Senior Subordinated Notes was approximately $60,056,626.

The amendments to the indentures pursuant to which the Notes were issued which were proposed in connection with the tender offer and consent solicitation are now operative. The amendments to the indentures eliminate substantially all of the restrictive covenants and eliminate or modify certain events of default and related provisions previously contained in the indentures.

The New Notes have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.