Alberta Oilsands Inc. announces change to management team

CALGARY, July 7 /CNW/ - Alberta Oilsands Inc. (the "Company" or "AOS") (TSXV:AOS) wishes to announce that Mr. Chad Dust, the former Executive Vice President, Finance and Business Development of AOS is no longer with the Company and will be pursuing other endeavors.

The Executive Chairman of Alberta Oilsands Inc., Mr. Shabir Premji, thanked Mr. Dust for his contribution to the management team and the development of the Company.

"On behalf of my fellow directors and the management, I would like to thank Chad for the hard work and commitment he brought to the management team over the last 3 years. We wish him every success in his future endeavors."

About Alberta Oilsands Inc.

Alberta Oilsands Inc. is a technically driven high growth energy company focused on the development and conversion of the Company's oil sands resources to reserves and the creation of long term sustainable value by increasing production and cash flow on relevant conventional oil and natural gas assets.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE ALBERTA OILSANDS INC.

For further information: For further information: Alberta Oilsands Inc., Suite 2800, 350 - 7th Avenue S.W., Calgary, Alberta, T2P 3N9, Shabir Premji, Executive Chairman, T: (403) 232-3341, F: (403) 263-6702, spremji@aboilsands.ca; Company website: www.aboilsands.ca

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ALBERTA OILSANDS INC.

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