CANADIAN OIL SANDS TRUST

Canadian Oil Sands Trust announced cash used in operating activities of $44 million ($0.09 per Trust unit (“Unit”)) for the second quarter of 2009 compared with cash from operating activities of $413 million ($0.86 per Unit) for the same period last year. During the first half of 2009, cash from operating activities was $6 million ($0.01 per Unit) compared with the $854 million ($1.78 per Unit) in the 2008 six-month period. Net income for the second quarter of 2009 was $46 million ($0.10 per Unit) compared with $497 million ($1.04 per Unit) of net income in the 2008 period. Year-to-date, net income totaled $89 million ($0.18 per Unit) in 2009 compared with $795 million ($1.66 per Unit) in 2008.