WesternOne Equity Income Fund Announces Re-branding of BC Equipment Rental Platform

    VANCOUVER, July 3 /CNW/ - WesternOne Equity Income Fund ("WesternOne
Equity") (TSX: WEQ.UN and WEQ.DB) today unveiled its new brand initiative and
visual identity with the launch of WesternOne Rentals and Sales, creating a
streamlined and unified presence in the BC equipment rental marketplace.
    This re-branding initiative will combine the strengths of three well
established BC based business units that were previously acquired by
WesternOne Equity:

    -   Production Equipment, a specialist aerial high reach and material
        handling equipment rental company located in BC's Lower Mainland.

    -   Old Country Rentals, a successful equipment rentals business with two
        locations in Victoria, BC, and a leading player in the Victoria and
        Southern Vancouver Island equipment rental industry for over 30

    -   C&N Rentals, a successful equipment rentals business with two
        locations in Comox and Courtney, BC, and a growing presence in the
        Central and Northern Vancouver Island equipment rental industry.

    The launch of the new branding is effective immediately for WesternOne's
equipment rental platform companies located in British Columbia. All future
business activity will refer to the company as WesternOne Rentals and Sales.
    Darren Latoski, Chief Executive Officer, stated, "We believe that the
British Columbia equipment rental market offers tremendous growth
opportunities, especially for equipment rental companies that are dedicated to
providing total service to their customers. As a direct response to the needs
of our top customers who operate out of several locations across BC, we have
streamlined our internal operations and re-branded under one banner in BC, to
allow our customers to benefit from our equipment fleet across five BC retail
locations; our industry expertise in several equipment rental segments; and
increased access to our equipment sales and repair and service departments.
    Re-branding and the corresponding launch of an aggressive marketing
campaign reflect the next stage of positioning the company for growth in 2008
and beyond."

    About WesternOne Equity
    WesternOne Equity seeks to acquire predominantly 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


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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