WesternOne Equity Income Fund Announces Cash Distribution for April 2012

VANCOUVER, April 18, 2012 /CNW/ - 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 April 2012 (equivalent to $0.60 per trust unit on an annualized basis). This distribution will be paid on May 15, 2012 to unitholders of record at the close of business on April 30, 2012.

In addition, WesternOne Equity announced that during March 2012, 187,081 trust units were issued at $5.25 per trust unit in connection with the conversion of $965,000 principal amount in Convertible Unsecured Subordinated Debentures (plus accrued interest). As at April 18, 2012, WesternOne Equity had 19,406,988 trust units, $15,890,000 principal amount of the Convertible Unsecured Subordinated Debentures and $86,250,000 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 sector of construction and infrastructure services in order to generate stable 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.

Andrew Greig, Manager of Investor Relations
WesternOne Equity Income Fund
Suite 910, 925 West Georgia Street
Vancouver, BC  V6C 3L2
Phone: [phone]
E-mail: [email protected]
www.weq.ca