23 FEBRUARY 2009

With the last trophy claimed and the final speech wrapped up, the night was still young for the winners and star guests at this year's Academy Awards. There were smiles, hugs and toasts all round as the celebration of the Tinseltown night of the year continued at high profile bashes across LA.

After the crème de la crème of the party set kicked off the evening at the traditional Governors Ball, guests began arriving at the Vanity Fair bash. Among them were newly-crowned best actor Sean Penn, who was spotted in a warm exchange with last year's best supporting actress winner Tilda Swinton.

Other celebrating Academy Award winners at the same party included Penelope Cruz, who was congratulated by newlywed Mexican beauty Salma Hayek. And there were clearly no hard feelings between Kate Winslet and Meryl Streep after the British star trumped her in the best actress category. Kate loaned her statuette to 15-time nominee as the pair were snapped together.

Daniel Craig was enjoying the glam night out with his US producer girlfriend Satsuki Mitchell. While they held hands at the bar, Madonna was spotted deep in conversation with British comedian Sasha Baron Cohen.

The guests at Elton John's annual soiree were equally up for a party. It was a girl's night out for Victoria Beckham – elegant in a sweeping, floor length, long sleeved gown. The former pop star hit the dance floor with Desperate Housewives pal Eva Longoria and burlesque dancer Dita Von Teese, who turned heads in a canary yellow satin number.

Photo: Getty Images
Last year's supporting actress winner Tilda Swinton was among the first to congratulate the Milk star at the Vanity Fair bash
Photo: Getty Images
Best pals Eva Longoria and Victoria Beckham hit the dance floor with Dita Von Tees at Elton John's event
Photo: Getty Images
Meryl Streep borrows Kate Winslet's Oscar for a photo opportunity