Attention Business Editors

Alberta Oilsands Inc. announces executive appointment

	    CALGARY, Oct. 18 /CNW/ - Alberta Oilsands Inc. (the "Company" or "AOS")
(TSXV:AOS) is pleased to announce the appointment of Andrew Constantinidis as
Vice President Finance and Business Development of the Company, subject to
required regulatory approvals.
	    Mr. Constantinidis has lived and worked in Calgary, Hong Kong and Sydney,
Australia in the energy, banking and technology sectors. His 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 development." said Mr.
Shabir Premji, Executive Chairman of Alberta Oilsands Inc.

	    About Alberta Oilsands Inc.