Canadian Superior Updates on Demand Extension

Canadian Superior and the Canadian Western Bank have reached an accommodation whereby the demand for repayment of all amounts outstanding under Canadian Superior's $37.5 million credit facility with the Bank by February 27, 2009 has been extended to March 12, 2009.

The credit facility was recently reduced with a payment of approximately $9 million made to the Bank by the Company. Negotiations are continuing between the parties.

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