STaRS announces normal course issuer bid

    TORONTO, Jan. 15 /CNW/ - STaRS Income Fund announced today its intention
to make a normal course issuer bid for its units through the facilities of the
Toronto Stock Exchange (the "TSX"). This normal course issuer bid is intended
to commence on January 17, 2008 and will terminate on January 16, 2009. In
accordance with the Declaration of Trust by which STaRS is governed, market
purchases pursuant to its normal course issuer bid may be effected by the
    The Fund had 4,245,346 units issued and outstanding as at January 7,
2008. STaRS may, during the 12 month period commencing January 17, 2008
purchase on the TSX up to 423,714 units, being 10% of the public float of
4,237,149 units and may not, in any 30 day period, purchase more than 84,906
units, being 2% of the units issued and outstanding. As at January 7, 2008
STaRS had purchased 161,300 units at an average price of $14.09 per unit under
its previously approved normal course issuer bid. STaRS believes that its
units represent good value for the Fund and purchases under the normal course
issuer bid may serve to enhance returns to unitholders.
    STaRS trades on the Toronto Stock Exchange under the symbol "STZ.UN".

For further information:

For further information: visit our website at or
contact Nancy Tham, Senior Vice President, (416) 847-5349

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