WesternOne Equity Income Fund Announces 10.2% Increase in Cash Distributions



    /NOT FOR DISTRIBUTION TO US WIRE SERVICES OR DISSEMINATION IN THE US/

    VANCOUVER, March 7 /CNW/ - WesternOne Equity Income Fund ("WesternOne
Equity") (TSXV: WEQ.UN and WEQ.DB) today announced that its Board of Trustees
has approved a 10.2% increase in the cash distribution, increasing the monthly
distribution from $0.0408 to $0.045 per trust unit effective March 1, 2007
(equivalent to $0.54 per trust unit on an annualized basis). This distribution
will be paid on April 16, 2007 to unitholders of record at the close of
business on March 30, 2007.
    "We are pleased to announce that, effective March 1, 2007, the growth in
the Fund's underlying business has allowed us to increase our distribution by
more than 10%", said Darren Latoski, Chief Executive Officer of WesternOne
Equity, "This distribution increase, along with the previously announced
$0.02 special distribution made for the partial year ended December 2006,
further indicates the strength of our business."
    The Fund will continue its targeted growth strategy through organic
growth and accretive acquisitions.
    The policy of WesternOne Equity is to pay cash distributions on or about
the 15th day of each month to unitholders of record on the last business day
of the preceding month.

    About WesternOne Equity
    -----------------------
    WesternOne Equity has been established to seek out and acquire
predominantly privately owned businesses located primarily in the Western
Canadian provinces of British Columbia, Alberta and Saskatchewan, in order to
generate stable and growing distributions to its unitholders as well as to
achieve overall capital appreciation.
    Additional information about WesternOne Equity is available at
www.sedar.com

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.





For further information:

For further information: Andrew Greig, Manager of Investor Relations,
WesternOne Equity Income Fund, Suite 910, 925 West Georgia Street, Vancouver,
BC, V6C 3L2, Phone: (604) 678-4042, E-mail: agreig@weq.ca


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