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 will
commence on January 19, 2009 and will terminate on January 18, 2010. 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 2,713,241 units issued and outstanding as at January 9,
2009. STaRS may, during the 12 month period commencing January 19, 2009
purchase on the TSX up to 271,198 units, being 10% of the public float of
2,711,986 units and may not, in any 30 day period, purchase more than 54,264
units, being 2% of the units issued and outstanding. STaRS will hold in
treasury for resale all units purchased pursuant to the bid. As at January 9,
2009 STaRS had purchased 110,800 units at an average price of $11.86 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 the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349

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