Star Hedge Managers Corp. - Press Release

    TORONTO, Sept. 1 /CNW/ - Star Hedge Managers Corp. (the "Fund") announced
that its annual financial statements for the period ended May 31, 2009 have
been released and are now publicly available. The financials have been posted
and may be viewed on the Fund's website at under
"Closed-End Funds", have been filed on SEDAR at and have been
mailed to shareholders.

    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 and
Warrants to purchase Class A Shares are listed on the Toronto Stock Exchange
under the symbols XHM.A and XHM.WT.

For further information:

For further information: BMO Financial Group, Mark W. Lobsinger, (416)
359-7742, Internet:

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