Consent of Independent Auditors



     We  consent to the  reference  to our firm  under the  captions  "Financial
Highlights",  "Board of Trustees" and  "Independent  Auditors and Legal Counsel"
and to the use of our report  dated May 16, 2003  included in the  Statement  of
Additional  Information of this  Registration  Statement (Form N-2 No. 333-89784
and 811-21110) of OFI Tremont Core Diversified Hedge Fund.



/s/ ERNST & YOUNG LLP
---------------------------------
ERNST & YOUNG LLP



New York, New York
December 15, 2003