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Press release from CNW Group

WesternOne Equity Income Fund Announces Cash Distribution for August 2012

Tuesday, August 21, 2012

WesternOne Equity Income Fund Announces Cash Distribution for August 201209:25 EDT Tuesday, August 21, 2012VANCOUVER, Aug. 21, 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 August 2012 (equivalent to $0.60 per trust unit on an annualized basis). This distribution will be paid on September 17, 2012 to unitholders of record at the close of business on August 31, 2012.In addition, WesternOne Equity announced that during July 2012, 305,219 trust units were issued at $5.25 per trust unit in connection with the conversion of $1,593,000 principal amount in Unsecured Convertible Subordinated Debentures (plus accrued interest), and 2,670 trust units were issued at $7.50 per trust unit in connection with the conversion of $20,000 principle amount in Extendible Convertible Series 2 Unsecured Subordinated Debentures. As at July 31, 2012, WesternOne Equity had 20,240,659 trust units, $12,008,000 principal amount of the Unsecured Convertible Subordinated Debentures and $86,230,000 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 construction and infrastructure services sector 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.comTHE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.SOURCE: WesternOne Equity Income FundFor further information: Please contact: Andrew Greig, Manager of Investor Relations WesternOne Equity Income Fund Suite 910, 925 West Georgia Street Vancouver, BC  V6C 3L2 Phone: (604) 678-4042 E-mail: agreig@weq.ca www.weq.ca