WesternOne Equity Income Fund Announces Rebranding of Volvo Rents to
WesternOne Rentals & Sales

VANCOUVER, Oct. 1 /CNW/ - WesternOne Equity Income Fund ("WesternOne") (TSX: WEQ.UN, WEQ.DB and WEQ.DB.B) today announced that it has ended its franchise agreement with Volvo Rents and rebranded its Alberta equipment rental operation to WesternOne Rentals & Sales. The rebranding is part of WesternOne's ongoing marketing integration strategy to leverage the success from the initial launch of the WesternOne Rentals & Sales brand in the BC equipment rental marketplace in July 2008. The rebranding will create a unified presence for WesternOne's equipment rental operation across BC and Alberta, thereby strengthening customers' recognition of the brand and the associated quality products and services being offered.

"We are excited about this marketing initiative and the new opportunities that we will benefit from it," said Geoff Shorten, Chief Operating Officer. "The unified banner highlights WesternOne's mission to deliver the highest level of service in our markets to our customers through our integrated network of 12 operating locations across BC and Alberta. The rebranding strategy reinforces our competitive position as a major regional equipment rentals and sales company. The franchise arrangement with Volvo Rents has been mutually beneficial, however WesternOne's growth over the past several years now enables us to achieve cost savings and enhanced profit margins by exiting the franchise network."

About WesternOne

WesternOne seeks to acquire equipment, fuel distribution and infrastructure related businesses located primarily in the Western Canadian provinces of British Columbia, Alberta and Saskatchewan, 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.

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