CERF announces reorganization

Sept. 27, 2010 – CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership has announced that unitholders have approved a proposed asset purchase and sale to 4-Way Equipment Rentals Corp.

Pursuant to the agreement, CERF will sell, assign and transfer to 4-Way, all of the Partnership’s right, title, estate and interest in and to the entirety of its assets and undertaking including all property, assets, rights and undertaking relating to the business of the Partnership, in consideration for the issuance of Class “A” Common shares in the capital of 4-Way to the Partnership, and 4-Way will become a wholly-owned subsidiary of the Partnership.

The reorganization is expected to be completed on or about October 1, 2010. Upon completion of the reorganization, the Partnership will retain its listing on the TSX Venture Exchange and unitholders will continue to hold their units in the Partnership.

The Partnership anticipates that, after completion of the Reorganization, the dividends paid to it by 4-Way, will, in turn, be distributed by the Partnership to its unitholders, on a quarterly basis, in a manner substantially similar to the quarterly distributions which the Partnership has been making to its unitholders since December 2005.

In other news, CERF has announced that it has signed a non-binding letter of intent (LOI) for the purchase of a private Alberta based integrated waste management company with five business units namely, landfill operations and management, waste collection and transfer services, waste facility construction services, environmental services and waste management client services for both the public and private sectors. The current owners and management of the company are expected to stay on to manage the operations.