WesternOne Equity Income Fund Acquires Alberta Modulars Inc.

VANCOUVER, BC (February 1, 2012): WesternOne Equity Income Fund ("WesternOne") (TSX: WEQ.UN, WEQ.DB.B, WEQ.DB.C) today announced that its Britco division ("Britco") has completed the acquisition of the assets and the business of Alberta Modulars Inc. ("AMI").

Operating out of a 57,000 sq. ft. facility in Northwest Edmonton, the acquisition of AMI provides Britco with additional production capacity and complements Britco's modular manufacturing facilities in Agassiz and Penticton, British Columbia and in Waco, Texas.

In addition to acquiring an experienced plant management team and a skilled workforce, the added manufacturing capacity and proximity to Alberta oil and gas projects enhance Britco's ability to serve its customers in Western Canada.
Britco is delighted that Lew Parsons, a co-founder of AMI in 2006, has accepted the position of Plant Manager of the new Britco production facility.

With four manufacturing plants and over 500 employees, Britco is one of the largest modular manufacturing companies in North America and is strategically positioned to capitalize on growth opportunities in the energy, infrastructure, mining and construction sectors in the years ahead.

This new facility will ensure that Britco's commitment to building innovation, superior quality, excellence in customer service and industry leadership in safety, will continue to set Britco apart in the modular building industry.

WesternOne is a Vancouver-based company that owns businesses throughout Western Canada in the modular building construction, aerial equipment rental and construction heating business. For more information regarding Britco and WesternOne please go to www.britco.com and www.weq.ca.

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