CERF Incorporated Announces Dividend of $0.06 per Share

TSX Venture Symbol: CFL

CALGARY, Dec. 21, 2011 /PRNewswire/ - The board of directors of CERF Incorporated ("CERF Inc."), successor to Canadian Equipment Rental Fund Limited Partnership (the "Partnership" or "CERF LP"), announces that they have approved a cash dividend to the shareholders of $0.06 per share for the fourth quarter of 2011. This dividend plus the distributions of the processor Partnership represents $0.24 per share on an annualized basis. Payment will be made on or about January 13, 2012, to shareholders of record as of the close of business on December 31, 2011.

Investors are cautioned that future dividends are always subject to approval from the board of directors and may be increased, decreased or suspended by the board at any time.

Each investor who was a Partnership unitholder of record at any of the distribution dates during 2011 up to and including September 30 will receive, by mail in March of 2012, a form T5013 from the Partnership's Transfer Agent or the unitholder's brokerage firm. The T5013 will indicate the amount and nature of the taxable income the investor is responsible to report. Investors who are shareholders of record as at December 31, 2011, will also receive a T5, from CERF Incorporated's Transfer Agent or their brokerage firm, on or before February 28, 2012 which will report the taxable dividend information related to the December 31, 2011 dividend. Investors, who converted their Partnership units to shares of CERF Inc., will receive both a T5 in February and a T5013 in March of 2012.

CERF Inc. is a Canadian public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services. CERF Inc. trades on the TSX Venture Exchange under the symbol "CFL" and currently has 9,535,125 common shares issued and outstanding.

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 flows or the ability to pay distributions expressed or implied by such forward looking statements.

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 CERF Inc.

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