Thursday, May 17, 2012

WEQ.DB.B - <span class="simulate_din_font">WesternOne Equity Income Fund Announces Cash Distribution for May 2012</span> (CAD 0.05)

Company: Westernone Eqy Inc Fund 8.5 Conv Debs B
Stock Name: WEQ.DB.B
Amount: CAD 0.05
Announcement Date: 17/05/2012
Record Date: 29/05/2012

Dividend Detail:




VANCOUVER, May 17, 2012 /CNW/ - WesternOne Equity Income Fund
("WesternOne Equity") (TSX: WEQ.UN), (TSX: WEQ.DB.B) and (TSX:
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 May 2012
(equivalent to $0.60 per trust unit on an annualized basis). This
distribution will be paid on June 15, 2012 to unitholders of record at
the close of business on May 31, 2012.



In addition, WesternOne Equity announced that during April 2012, 266,677
trust units were issued at $5.25 per trust unit in connection with the
conversion of $1,364,000 principal amount in Convertible Unsecured
Subordinated Debentures (plus accrued interest). As at May 17, 2012,
WesternOne Equity had 19,669,327 trust units, $14,550,000 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
construction and infrastructure sectors 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, 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









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