Cervus Equipment Corporation Announces an Investment in a New Zealand Company

Cervus LP (CVL.UN - TSX Venture),

Cervus Equipment Corporation ("Cervus") (currently TSXV: CVL.UN) is pleased to announce that it has acquired a 33.3% interest in a newly formed company, Agriturf Limited ("Agriturf"), a New Zealand company, for the purposes of consolidating John Deere Dealerships on the North Island of New Zealand. The cost of this investment in Agriturf was $100 NZ (or approximately $78 CDN). Cervus has also advanced $1.15 million NZ (or approximately $903,470 CDN) to Agriturf to be used for the proposed acquisition of the net assets of the John Deere dealerships in Foxton and Rotorua, New Zealand. These proposed transactions are expected to close on January 31, 2010.

Commenting on the investment, Mr. Peter Lacey, CEO of Cervus, said, "We are very excited by the opportunity to participate in what we hope will be a significant consolidation of the John Deere dealerships on the North Island of New Zealand. We have considerable experience with consolidating dealerships and by partnering with successful local John Deere Dealer Principals we believe we can form a strategic alliance that will ensure the creation of a strong group of dealers, able to meet the demands of a changing marketplace."

The combined estimated annual gross revenues of the John Deere dealerships in Foxton and Rotorua, will be approximately $18 million NZ (or approximately $14.6 million CDN).

About Cervus Equipment Corporation

Cervus acquires and manages authorized equipment dealerships in Western Canada. The partnership presently operates 17 John Deere dealerships in Alberta, Saskatchewan and Manitoba and 5 construction equipment dealerships in Alberta that sell Bobcat, and JCB equipment.

TSXV Listing

Pending the final acceptance of the TSX Venture Exchange (the "TSXV") to the previously announced completion of the conversion of the capital structure of Cervus LP from that of a publicly traded limited partnership to that of a publicly traded corporation, Cervus Equipment Corporation, the common shares of Cervus Equipment Corporation are expected to begin trading on the TSXV approximately two to three business days following the date hereof under the symbol "CVL". Until such time, the units of Cervus LP will continue trading on the TSXV under the symbol "CVL.UN".

For further information, please contact:

Peter Lacey - President & CEO

Telephone: (403) 567-0339 ext. 245

Fax: (403) 567-0392

Email: placey@cervuslp.com

Randy Muth - Chief Financial Officer

Telephone: (403) 567-0339 ext. 244

Fax: (403) 567-0392

Email: rmuth@cervuslp.com

Forward Looking Information

This press release contains certain forward-looking statements and forward-looking information ("forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating, but not limited, to the proposed acquisition of certain identified assets by Agriturf in New Zealand and the proposed consolidation of the John Deere dealerships on the North Island of New Zealand. While Cervus believes the expectations reflected in such forward-looking information are reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Forward-looking information is based on various assumptions including satisfactory results of due diligence investigations, the ability to agree to final terms and successfully negotiate definitive binding agreements, the ability to close transactions once final terms have been agreed to, and the necessary approvals by John Deere,. Those assumptions are based on information currently available to Cervus, including information obtained from third party sources such as the management of Agriturf and Cervus' various advisors in New Zealand. You are cautioned that the preceding list of assumptions is not exhaustive.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Cervus' actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to the risks identified in Cervus LP's 2008 Annual Information Form under the heading "Risk Factors" and the customary risks associated with business acquisition activity including the failure to achieve the anticipated benefits of an acquisition or undisclosed liabilities associated with an acquisition. Any forward-looking information is made as of the date hereof and, except as required by law, Cervus assumes no obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Neither the 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: Cervus LP (TSX-V: CVL.UN) http://www.cervuscorp.com

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