BluMont Strategic Partners Hedge Fund Announces Normal Course Issuer Bid

TORONTO (CCNMatthews) - 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 18, 2006 and ending on September 17, 2007, purchase up to 275,596 trust units, representing 10% of the public float of the Fund, being 2,755,960 trust units. The price that the Fund will pay for any such units will be the market price at the time of acquisition. The manager of the Fund will determine the actual number of units that may be purchased and the timing of any such purchases. As of September 14, 2006 there were 2,755,960 units outstanding. All units purchased by the Fund under the normal course issuer bid will be cancelled.

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 $35 million in assets across a diversified portfolio.

About the Manager

BluMont Capital. ("BluMont") (TSX VENTURE:BCC) is a leading provider of alternative investment products to Canadian investors. The firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs approximately 40 people nationwide and has approximately C$750 million in assets under management and administration. BluMont is 46.2% owned by Toronto-based Integrated Asset Management Corp. (TSX VENTURE:IAM), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont can be found at www.blumontcapital.com.

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FOR FURTHER INFORMATION PLEASE CONTACT:

BluMont Capital
Stephen J. Kangas
President
(416) 216-3566 or 1 (866) 473-7376
(416) 216-3559  (FAX)