BluMont Capital Corporation Completes Fund Mergers

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE. BluMont Capital Corporation ("BluMont Capital") announced today that the previously announced merger of BluMont Canadian Opportunities Fund (the "Canadian Opportunities Fund") and BluMont Hirsch Long/Short Fund (the "Long/Short Fund") into BluMont Core Hedge Fund (the "Core Hedge Fund") have been completed. The termination of the Canadian Opportunities Fund and the Long/Short Fund were effective as of August 7, 2009 (the "Effective Date"). In that regard, BluMont Capital afforded Unitholders the ability to participate in the wind-up of the Canadian Opportunities Fund and the Long/Short Fund as at the Effective Date by way of an in-kind transfer of their investment to the Core Hedge Fund. The exchange ratio, based on the final net asset value of the Canadian Opportunities Fund and the August 7, 2009 net asset value of the Core Hedge Fund, was 1.1642 units in the Core Hedge Fund Class A for every Canadian Opportunities Fund Class A unit held. The exchange ratio, based on the final net asset value of the Long/Short Fund and the August 7, 2009 net asset value of the Core Hedge Fund, was 1.2021 units in the Core Hedge Fund Class A for every Long/Short Fund Class A unit held and 1.2445 units in the Core Hedge Fund Class F for every Long/Short Fund Class F unit held. /T/ Summary of conversion calculations for BluMont Capital Fund Mergers: Number of NAV Per Unit Class A BluMont Core Class A August 7, 2009 Hedge Units per Unit BluMont Canadian Opportunities Fund $113.1589 1.1642 BluMont Hirsch Long/Short Fund $116.8389 1.2021 BluMont Core Hedge Fund $ 97.1990 Number of NAV Per Unit Class F BluMont Core Class F August 7, 2009 Hedge Units per Unit BluMont Hirsch Long/Short Fund $125.9909 1.2445 BluMont CoreHedgeFund $101.2383 /T/ On the Effective Date, the Canadian Opportunities Fund ceased to be a reporting issuer (or its equivalent) in all of the provinces of Canada in which it had such status and the Core Hedge Fund became a reporting issuer (or its equivalent) in such provinces. Founded in 2000, BluMont Capital offers investment products designed to provide enhanced diversification and return potential outside of traditional equity and bond investments. BluMont Capital employs a national sales force and is dedicated to setting new standards in delivering alternative products and services to Canadian retail investors. BluMont Capital is a wholly-owned subsidiary of Toronto-based Integrated Asset Management Corp. IAM, a leading Canadian alternative asset management company with approximately C$2.1 billion in assets and committed capital under management (www.iamgroup.ca). This news release contains certain "forward-looking statements". The statements that are not historical facts contained in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.