Norstar Securities Trust Announces First Quarter Results

Market Wire, May, 2009

Norstar Securities Trust ("Norstar", the "Fund", the "Trust", the "Company") today released its financial results for the three months ended March 31, 2009.

First Quarter Highlights:

- Revenue of $754,862

- Net income of $197,994

- Earnings per unit of $0.04

Norstar Securities Trust operates an independent Canadian investment dealer through its 99.99% holding in Norstar Securities Limited Partnership.

Other Information:

This press release should be read in conjunction with the management's discussion and analysis and unaudited interim consolidated financial statements for the three months ended March 31, 2009 and the audited annual consolidated financial statement for the year ended December 31, 2008, which are available on SEDAR at www.sedar.com .

Forward-Looking Statements

This press release may contain forward-looking statements, which are subject to risks and uncertainties and other factors that may cause the Fund's results to differ materially from expectations. When reviewing the Fund's forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. These include risk relating to market fluctuations, investee performance, strength of the North American and European economy, foreign exchange fluctuations and other risks not yet know to the Fund.. These forward-looking statements speak only as of the date hereof. Unless otherwise required by applicable securities laws, the Fund disclaims any intention or obligation to update these forward-looking statements. The Fund does have an ongoing obligation to disclose material information as it become available. The discussion also includes cautionary statements about these matters. You should read the cautionary statements made as being applicable to all forward-looking statements wherever they appear in this document.

Contacts: Norstar Securities Trust Michael Sheridan 416-619-2008 416-619-2011 (FAX)