WesternOne Equity Income Fund Announces Cash Distribution for December 2012

VANCOUVER, Dec. 18, 2012 /PRNewswire/ - WesternOne Equity Income Fund ("WesternOne Equity") (TSX: WEQ.UN, WEQ.DB.B and WEQ.DB.C) today announced that its Board of Trustees has approved a cash distribution of $0.05 per trust unit for the month of December 2012 (equivalent to $0.60 per trust unit on an annualized basis). This distribution will be paid on January 15, 2013 to unitholders of record at the close of business on December 31, 2012.

In addition, WesternOne Equity announced that during November 2012, 144,739 trust units were issued at $5.25 per trust unit in connection with the conversion of $735,000 principal amount in Unsecured Convertible Subordinated Debentures (plus accrued interest), and 67,497 trust units were issued at $7.50 per trust unit in connection with the conversion of $492,000 principle amount in Extendible Convertible Series 2 Unsecured Subordinated Debentures. As at November 30, 2012, WesternOne Equity had 21,438,180 trust units, $9,740,000 principal amount of the Unsecured Convertible Subordinated Debentures and $81,032,000 principal amount of the Extendible Convertible Series 2 Unsecured Subordinated Debentures outstanding.

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 and grow businesses in the construction and infrastructure services sector 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 TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

SOURCE WesternOne Equity Income Fund