WesternOne Equity Income Fund Announces Cash Distribution for October 2008



    VANCOUVER, Oct. 22 /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
October 1, 2008 to October 31, 2008 (equivalent to $0.60 per trust unit on an
annualized basis). This distribution will be paid on November 14, 2008 to
unitholders of record at the close of business on October 31, 2008.
    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: 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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