I recommend a
refurbished Baratza Virtuoso for French Press and either the Porlex or Kyocera Ceramic Coffee Grinder CM-45 CF (not the Kyocera CM-50) hand grinder for espresso. You should be able to get both grinders and stay within budget.
The hand grinders have nice, ceramic burrs and while are not ideal for espresso, they do a good job. They're available from
Orphan Espresso and they carry spare parts for the Kyocera CM-45 CF if you need them (I dropped my grinder and chipped the cap and also after about a year of use the pentagon shaped cut-out in the handle started to get worn and loose so I replaced that too). They're great for traveling and I use mine for coffee while camping and for espresso at work with the MyPressi Twist.
Another option is one of the nice re-built hand grinders that Orphan Espresso sells... they have a nice KYM available that looks tempting, if I hadn't already blown my coffee budget for this year. Last year I bought the La Peppina spring lever and Kyocera grinder and this year I got the Baratza Vario grinder.
You could probably try just the Kyocera for both French Press and Espresso if you're a big fan of hand-grinding. I've even heard some people hook up electric screwdrivers to the hand grinder, but I didn't want to mess with that.
Unfortunately, there aren't too many good options in your price range that will work for both press pot and espresso. I suffered for quite a while with a horrible false-burr grinder for coffee while I saved up money to get something better to do both espresso and press pot / syphon and finally purchased the Baratza Vario that I've been very happy with so far. I had originally planned to get the Baratza Virtuoso Preciso, but delays in the release of this product and my growing impatience for a new grinder (too many vac pot stalls) convinced me that it would be worth it to spend the extra money and go with the B. Vario.
In the end, it's your decision. If you can afford to upgrade to the Vario, or delay your purchase while you save your money, then you may be happier and be able to get one grinder that will serve all your needs.