Alberta Oilsands Welcomes New Executive Member

Alberta Oilsands announced the appointment of Andrew Constantinidis as Vice President Finance and Business Development of the Company, subject to required regulatory approvals.

Mr. Constantinidis' executive level experience includes international and domestic activities in the fields of finance, planning, project development and operations. Most recently he was Vice President and Chief Financial Officer of Calgary based Eurogas Corporation (EUG.V). Mr. Constantinidis' international experience includes positions at companies including Deutsche Bank, Citibank, ExxonMobil and domestically at IBM. Mr. Constantinidis has a Bachelor of Commerce (Accounting) degree and a Master of Business Administration.

"We are excited to have Mr. Constantinidis complement our executive team. We believe that his experience in large project financing and development will help accelerate our plans for commercial oil sands developmen," said Mr. Shabir Premji, Executive Chairman of Alberta Oilsands.