Alberta Oilsands Issues Options

AOS has announced that, pursuant to the provisions of its stock option plan, it has granted an aggregate of 2,160,000 options to its employees, management, directors and consultants. The options have an exercise price of $0.13 per share.

As with previous option grants by the Company, options granted to employees, management, directors and certain consultants vest as to 1/3 immediately, 1/3 on the first anniversary of the date of grant and the balance
on the second anniversary of the date of grant. The options expire on December 4, 2013. Stock option grants are subject to necessary regulatory approvals.