Canadian Equipment Rental Fund Limited Partnership closes previously announced equity offering



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES OF AMERICA/

    CALGARY, Dec. 20 /CNW/ - Canadian Equipment Rental Fund Limited
Partnership ("CERF LP") has closed its offering of 289,270 limited partnership
units ("Units") of CERF LP at a price of $5.00 per Unit for aggregate gross
proceeds of $1,446,350 (the "Offering"). Cormark Securities Inc. acted as lead
agent for the Offering to a syndicate that also included PI Financial Corp.
    The proceeds of the Offering will be used to fund the purchase of
equipment and to thereby expand CERF LP's rental fleet and for general
partnership purposes.

    CERF LP is a Canadian limited partnership engaged in the rental, sale and
service of industrial and construction equipment. CERF LP is listed on the TSX
Venture Exchange under the symbol "CFL.UN" and, after completion of the
Offering, now has 5,735,107 Units issued and outstanding.

    FORWARD LOOKING STATEMENTS

    This press release contains forward-looking statements. These
forward-looking statements are subject to various risk factors and
uncertainties, which may cause the actual results, performances, cash flows or
the ability to pay distributions to be materially different from the results,
performances, cash flows or the ability to pay distributions expressed or
implied by such forward-looking statements.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: Wayne Wadley, President & CEO, at (403)
850-4095, by email at wwadley@cerflp.com; or Ken Stephens, CFO, at (403)
298-8695, by email at kstephens@cerflp.com

Organization Profile

CANADIAN EQUIPMENT RENTAL FUND LIMITED PARTNERSHIP

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