WesternOne to acquire scaffolding business

Aug. 9, 2010 – WesternOne Equity Income Fund has announced that it has signed a letter of intent (the "LOI") for the purchase of the assets of an engineered scaffold business that specializes in the rental, sales, installation and servicing of scaffold equipment.

The scaffold company is independently owned, and operates from a base in Calgary with operations covering Northern and Southern Alberta. The transaction is expected to be completed, subject to due diligence and other customary conditions, by September 2010.

Further details will be announced upon the entering into of a formal acquisition agreement and after the completion of the transaction.

"We are excited about this transaction, in particular the opportunity to strategically expand our product offering to include engineered scaffold products and related services," said Geoff Shorten, COO of WesternOne Equity. "This transaction would allow us to enhance our market share in Western Canada by offering our customers a more complete range of equipment rental services."

For more information, please visit www.weq.ca .