Star Hedge Managers Corp. - Press Release

TORONTO, Oct. 30 /CNW/ - Star Hedge Managers Corp. announces Warrant exercise results.

The management of Star Hedge Managers Corp. (the "Fund") announces that:

    
    -   approximately 70% of issued and outstanding Warrants to purchase
        Class A Shares of the Fund have been tendered to the Fund for
        exercise on October 30, 2009; and

    -   this represents approximately $54 million of Warrant exercise
        proceeds to the Fund.
    

The October 31, 2009 net asset value ("NAV") per Class A Share will reflect the exercise of Warrants and will be posted on the Fund's website.

About Star Hedge Managers Corp.

The Fund has been created to provide long-term capital growth by investing in a portfolio consisting of private investment funds or portfolios managed by three of Canada's leading portfolio managers: Rohit Sehgal of Dynamic Funds, Eric Sprott of Sprott Asset Management Inc. and Normand Lamarche of Front Street Investment Management Inc.

Class A Shares are listed on the Toronto Stock Exchange under the symbols XHM.A .

SOURCE STAR HEDGE MANAGERS CORP.

For further information: For further information: please visit the Fund's website at www.bmocm.com/bmosp under "Closed-End Funds". BMO Financial Group, Mark W. Lobsinger, (416) 359-7742, Internet: www.bmocm.com/bmosp Closed End Funds

Organization Profile

STAR HEDGE MANAGERS CORP.

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