A long time ago I wrote a tool for converting EnCase MD5 hashes into plain text format. Although lost for a time, I have now cleaned up the code and published it again. To use it, just run it on one or more EnCase hash files:
C:\> encase2txt set1.hash set2.hash [...]
You can direct the output to a new file like this:
C:\> encase2txt set1.hash set2.hash > newfile.txt
The resulting text files can be used with other hashing programs, such as md5deep, part of the Hashdeep suite.
You can find the actual tool at: http://jessekornblum.com/tools/encase2t