Canadian Equipment Rental Fund Limited Partnership Results for the Third Quarter 2010

TSX Venture Symbol: CFL.UN

CALGARY, Nov. 26 /PRNewswire-FirstCall/ – Mr. Wayne Wadley, president of CERF GP Corp.,
the general partner of Canadian Equipment Rental Fund Limited
Partnership (“CERF” or the “Partnership”), is pleased to announce the
results for the three and nine months ended September 30, 2010.

Full details of the Partnership’s results, in the form of the unaudited
financial statements for the three and nine months ended September 30,
2010 and Management’s Discussion and Analysis of the results dated
November 25, 2010 are available on SEDAR at www.sedar.com and on the Partnership’s website www.cerflp.com.

Highlights of the nine months ended September 30, 2010 were:

• Revenue for the three months ended September 30, 2010 was $3,275,339 up
  28% over the three months ended September 30, 2009.
  
  
  

• Revenue for the nine months was $10,013,343 up 2.5% over the nine months
  ended September 30, 2009.
  
  
  

• Net loss per unit of $0.05 basic.
  
  
  

• EBITDA for the nine month period was $3,139,869
  
  
  

• EBITDA per unit of $0.53 basic.
  
  
  

• Distributions of $0.18 per unit were declared for the nine months.

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements subject to
various risk factors and uncertainties, which may cause the actual
results, performances, cash flows or the ability to pay distributions
to be materially different from the results, performances, cash flow or
the ability to pay distributions expressed or implied by such forward
looking statements.

Mr. Wadley makes the following statements:

“The third quarter of 2010 has seen a 28% increase in revenues compared
to the third quarter of 2009. Revenues for the nine months ended
September 30, 2010 have increased 2.5% over the nine months ended
September 2009. This has been driven by increasing demand for our
products and services relating to the improving economy in the sectors
we service.

The first half of 2010 was hampered by a warm and wet spring which
reduced the demand for winter equipment and put many construction
projects on hold as it was too wet to continue. Also some projects were
put on hold due to the tightening of credit caused by the fear of a
worsening economy related to the crisis in Europe. With those events
behind us we have seen a significant increase in revenues for the third
quarter which is continuing into the fourth quarter of 2010. We feel
that this trend will continue into and throughout 2011.”

CERF is an Alberta limited partnership engaged in the rental, sale and
service of industrial and construction equipment. CERF trades on the
TSX Venture Exchange under the symbol “CFL.UN” and currently has
6,116,450 units issued and outstanding.

CANADIAN EQUIPMENT RENTAL FUND LIMITED PARTNERSHIP

CANADIAN EQUIPMENT RENTAL FUND LIMITED PARTNERSHIP

Full financial statements and notes thereto as well as management
discussion and analysis are available on the SEDAR website at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE Canadian Equipment Rental Fund Limited Partnership