Madonna, Demi Moore Throwing Exclusive Oscar Bash

02/22/2008 at 02:55 PM EST

Madonna, Demi Moore Throwing Exclusive Oscar Bash
Madonna and Demi Moore
Miguel Villagran/AP; Jean Baptiste Lacroix/WireImage

Demi Moore

Demi Moore

Madonna

Madonna

Vanity Fair's annual Oscar bash may have been canceled this year, but the A-listers will still have plenty of places to party, with Madonna and Demi Moore throwing a last-minute soiree emerging as one of the hottest invites in Hollywood.

Only a few hundred people are on the guest-list for the Madonna/Moore party – nearly all of them stars, Variety reports.

"It gives the A-list Vanity Fair crowd someplace to go to," a source tells Variety. "It will probably be pared down to where it's 85 percent talent, not a lot of suits."

The location has been a well-guarded secret, though a source tells PEOPLE it'll be at the home of Madonna's manager, Guy Oseary.

And, while the Writers Guild of America strike wiped out some of the Oscar night social calendar, there are still other options, including the official Governor's Ball immediately after the ceremony and Elton John's AIDS charity party.

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