Marcel R. Coutu

MARCEL R. COUTU is President and Chief Executive Officer of Canadian Oil
Sands Limited, manager of the wholly owned subsidiary of Canadian Oil
Sands Trust. Mr. Coutu joined Canadian Oil Sands as President and Chief
Executive Officer in September 2001. Under his leadership, Canadian Oil
Sands internalized management and has grown to become the largest owner
in the Syncrude Joint Venture. In addition to providing guidance and
direction to the Trust, Mr. Coutu is Chairman of the Board of Syncrude
Canada Ltd., and chairs the Syncrude Joint Venture CEO and Management
Committees. Mr. Coutu has 25 years of experience in the resource and
energy sector, primarily focused in corporate finance. Prior to joining
Canadian Oil Sands, Mr. Coutu was Chief Financial Officer of Gulf Canada
until its sale to Conoco. Preceding that position, he was Senior Vice
President, International and Vice President, Finance at TransCanada
Pipelines where he helped finance their mainline expansion and
international projects. Mr. Coutu also has worked many years in the
upstream sector for companies that include Hudson’s Bay Oil & Gas and
Dome Petroleum, and has five years of experience in the investment
banking business, mostly with Burns Fry Limited. Mr. Coutu holds a
H.B.Sc. in Geology from the University of Waterloo (1976), an MBA from
the University of Western Ontario (1980), and is a member of the
Association of Professional Engineers, Geologists and Geophysicists
(APEGGA). Mr. Coutu is a member of the Board of Directors of the United
Way of Calgary and the Calgary Stampede Pension Committee. As well, he
is on the Board of Governors of the Canadian Association of Petroleum
Producers.