H&E Equipment Services Acquires Eagle High Reach Equipment

March 5, 2006 — H&E Equipment Services, Inc., Baton Rouge, La., recently announced the completion of the previously announced acquisition of all of the capital stock of Eagle High Reach Equipment, Inc. (and all of the equity interests of its subsidiary, Eagle High Reach Equipment, LLC) for a purchase price of approximately $59.9 million. This transaction is subject to post-closing adjustment, plus assumed indebtedness of approximately $2.0 million. H&E funded the Eagle purchase price out of the proceeds from its recently completed initial public offering.

Eagle is a privately held construction and industrial equipment rental company serving the southern California construction and industrial markets out of five locations. Approximately 75 percent of Eagle's revenue is derived from the rental of aerial work platforms.

"We are extremely pleased to announce that we have closed the Eagle acquisition," said John M. Engquist, president and chief executive officer of H&E. "We feel this is a positive development for our company as it is our initial entry into the high-growth Southern California market and will provide us with opportunities for further growth."