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                                                                    EXHIBIT 99.1
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EVI ANNOUNCES TENDER OFFER TO PURCHASE SENIOR NOTES

November 14, 1997, Houston, Texas - EVI, Inc. (NYSE-EVI) today announced the
commencement of a cash tender offer and consent solicitation relating to all of
EVI's outstanding 10 1/4% Senior Notes due 2004 and 10 1/4% Senior Notes due
2004, Series B (collectively, the "Notes").  The tender consideration to be
paid for each properly tendered Note and properly delivered consent will equal
(i) the present value on the Payment Date of $1,038.44 per $1,000 principal
amount of Notes (the amount payable on March 15, 1999, which is the first date
on which the Notes are redeemable at the option of the Company) and all future
semi-annual interest payments to March 15, 1999, determined on the basis of the
yield on the 5 7/8% U.S. Treasury Notes due February 28, 1999, plus 25 basis
points, minus (ii) $25.00 per $1,000 principal amount of the Notes (which is
the payment for consents to the proposed amendments), plus (iii) accrued and
unpaid interest.

The tender offer commences today, November 14, 1997, and expires at 12:00
midnight, New York City time, on Friday, December 12, 1997, unless extended.
In conjunction with the tender offer, the Company is soliciting consents to
certain proposed amendments to the Indenture. Each holder of an outstanding
Note who validly consents to the proposed amendments to the Indenture on or
prior to 5:00 p.m., New York City time, on Monday, December 1, 1997, will be
paid $25.00 in cash for each $1,000 in principal amount of the outstanding
Notes.  Holders who tender their Notes after the consent date will not be
entitled to receive the $25.00 consent payment.

The acceptance of the Notes under the tender offer is subject to a number of
conditions, including the execution of the Supplemental Indenture following the
valid tender of and consent from at least a majority in aggregate principal
amount of the outstanding Note holders.

Lehman Brothers is acting as the exclusive Dealer Manager for the tender offer
and the consent solicitation.  The tender offer and consent solicitation are
being made pursuant to an Offer to Purchase and Consent Solicitation Statement,
which more fully sets forth the terms of the tender offer and consent
solicitation.  Additional information concerning the tender offer and consent
solicitation may be directed to Scott M. Macklin at Lehman Brothers at
800-438-3242 or 212-528- 7581.  Copies of the Offer to Purchase and Consent
Solicitation Statement and related documents may be obtained from Morrow & Co.,
Inc., the Information Agent, at 800-667-5200 or 212-754-8000.

EVI is an international manufacturer of engineered oilfield products.  The
Company manufactures drilling tools, premium tubulars, production equipment and
marine connectors.

Contact:
James G. Kiley
Vice President and
Chief Financial Officer
(713) 297-8400