September 14, 2005 13:22 ET

BluMont Strategic Partners Hedge Fund Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Sept. 14, 2005) - BluMont Strategic Partners Hedge Fund (the "Fund")(TSX:BSP.UN) today announced that the Toronto Stock Exchange (the "TSX") has accepted a notice filed by the Fund of its intention to make a normal course issuer bid through the facilities of the TSX.

The notice provides that the Fund may, during the 12-month period commencing on September 16, 2005 and ending on September 15, 2006, purchase up to 464,553 trust units, being 10% of the public float of the Fund, being 4,645,533 trust units. The price that the Fund will pay for any such units will be the market price at the time of acquisition. The actual number of units that may be purchased and the timing of any such purchases will be determined by the manager of the Fund. As of September 13, 2005 there were 4,645,533 units outstanding. All units purchased by the Fund under the normal course issuer bid will be cancelled. During the preceding 12 months the Fund has purchased 4,000 units at a weighted average price of $10.14 per unit.

The Fund believes that from time to time, the market price of its units does not adequately reflect their value in relation to the business of the Fund and its future business prospects. As a result, depending upon future price movements and other factors, the Fund believes that its outstanding units may represent an attractive investment. Furthermore, the purchases are expected to benefit all persons who continue to hold units by increasing their proportionate interest in the Fund.

About the Fund

The BluMont Strategic Partners Hedge Fund is a closed-end fund the primary objective of which is to achieve capital appreciation while managing risk through the use of a diversified hedged equity investment program. The Fund pursues this objective by allocating its roughly $51 million in assets across a diversified portfolio.

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