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CERF posts Q2 loss

Sept. 7, 2010 – Wayne Wadley, president of CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership ("CERF" or the "Partnership"), has announced the results for the three and six months ended June 30, 2010.



September 7, 2010
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Sept. 7, 2010 – Wayne Wadley, president of CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership ("CERF" or the "Partnership"), has announced the results for the three and six months ended June 30, 2010.

Full details of the Partnership's results, in the form of the unaudited financial statements for the three and six months ended June 30, 2010 and Management's Discussion and Analysis of the results dated August 25, 2010 are available on SEDAR at www.sedar.com and on the Partnership's website at www.cerflp.com .

    Highlights of the six months ended June 30, 2010 were:

    –   Revenue for the six months was $6,738,004.

    –   Net loss per unit of $0.02 basic.

    –   EBITDA for the period was $2,168,763

    –   EBITDA per unit of $0.37 basic.

    –   Distributions of $0.12 per unit were declared for the six months.

"We are still seeing indications of an economic recovery that cause us to believe that 2010 will be a better year for the Partnership. The second quarter of 2010 was hampered by a warm and wet spring which reduced the demand for winter equipment and put many construction projects on hold as it was too wet to continue. Also some projects were put on hold due to the tightening of credit caused by the fear of a worsening economy related to the crisis in Europe. With those events behind us we are looking to the last half of the year with optimism," said Wadley. "The waste disposal and recycling business we acquired in October 2009 is continuing to grow. We are experiencing higher demand for our recycling and disposal services as we continue to roll out innovative new products and services. Our 4-Way customers have embraced this additional product line as they are seeking more single source solutions for their construction needs. We look forward to continuing to expand in this sector."

CERF is an Alberta limited partnership engaged in the rental, sale and service of industrial and construction equipment. CERF trades on the TSX Venture Exchange under the symbol "CFL.UN" and currently has 6,096,450 units issued and outstanding.


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