STAR PORTFOLIO CORP. FILES FINAL PROSPECTUS FOR INITIAL PUBLIC OFFERING OF
$400 MILLION OF STAR YIELD MANAGERS CLASS

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Sept. 29 /CNW/ - Star Portfolio Corp. (the "Corporation") is pleased to announce that it has filed and received a receipt for its final prospectus dated September 28, 2010 (the "Prospectus") for a maximum of $400 million units (the "Units") in respect of Star Yield Managers Class (the "Fund") from the securities regulatory authority in each province and territory of Canada.

The Fund was created to provide investors with attractive tax-efficient distributions and the opportunity for capital appreciation through investment in, or exposure to, diversified private investment funds or portfolios of income-generating securities managed by three of Canada's leading investment managers and their teams: Oscar Belaiche of Goodman & Company, Investment Counsel Ltd.; Eric Bushell of Signature Global Advisors (CI Investments Inc.); and Ben Cheng of Catapult Financial Management Inc., a wholly owned subsidiary of Aston Hill Financial Inc. (collectively, the "Portfolio Managers").

The Corporation is a corporation incorporated under the laws of the Province of Ontario and proposes to issue Units in respect of the Fund at a price of $12.00 per Unit. Each Unit consists of one Star Yield Managers Class share (a "Share") of the Corporation and one transferable warrant (a "Warrant") to purchase one Share on October 31, 2011.

The Fund's investment objectives are to provide Shareholders with: (i) monthly tax-efficient distributions initially estimated to be $0.07 per Share ($0.84 per annum representing an annual cash distribution of 7.0% per annum based on the $12.00 per Unit issue price); and (ii) the opportunity for capital appreciation. The Fund will seek to achieve its investment objectives by portfolio diversification through exposure to the differing management styles of the Portfolio Managers, and a variety of investment classes, including 'hard assets' (global real estate and infrastructure securities), global fixed income (including high yield securities) and preferred shares, convertible debentures, dividend paying equities and other income-producing securities.

The syndicate of agents is led by BMO Capital Markets, Dundee Securities Corporation, CIBC and RBC Capital Markets and includes National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Canaccord Genuity Corporation, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Manulife Securities Incorporated, Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", "estimate" and similar expressions to the extent they relate to the Fund and the Corporation. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund and the Corporation believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Fund nor the Corporation undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

All capitalized terms used herein but not defined have the meanings ascribed to such terms in the Prospectus.

About BMO Capital Markets
BMO Capital Markets is a leading full-service North American financial services provider, with over 2,000 employees operating in 14 North American offices and 26 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$386 billion in total assets and 38,000 employees as at July 31, 2010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities of the Fund offered have not been registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to a U.S. person absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

Copies of the Prospectus may be obtained from BMO Capital Markets, Distribution Department, 1 First Canadian Place, B2 Level, Toronto, Ontario, M5X 1H3 (telephone: [phone], ext. 224). There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

For further information:

BMO Capital Markets
For further information, please contact Mark W. Lobsinger [phone], [email protected]