WesternOne Equity Income Fund Announces Cash Distribution for January 2009



    VANCOUVER, Jan. 20 /CNW/ - WesternOne Equity Income Fund ("WesternOne
Equity") (TSX: WEQ.UN and WEQ.DB) today announced that its Board of Trustees
has approved a cash distribution of $0.05 per trust unit for the period from
January 1, 2009 to January 31, 2009 (equivalent to $0.60 per trust unit on an
annualized basis). This distribution will be paid on February 16, 2009 to
unitholders of record at the close of business on January 30, 2009.
    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 seeks to acquire equipment and infrastructure related
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.weq.ca
or www.sedar.com

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





For further information:

For further information: please contact: 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,
www.weq.ca


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