Calgary, May 17, 2004 (TSX -- COS.UN) — Mr. Allen Hagerman, Chief Financial Officer of Canadian Oil Sands, is scheduled to present at the Scotia Capital MTN Issuer Conference in Toronto on May 19 at approximately 9:15 a.m. eastern standard time (7:15 a.m. mountain standard time). The presentation slides and a live audio Web cast will be available at Canadian Oil Sands Trust’s Web site, www.cos-trust.com, under investor information, presentations & Web casts.

Canadian Oil Sands Trust is an open-ended investment trust that generates income from its indirect 35.49 per cent working interest in the Syncrude Joint Venture. The Trust currently has approximately 87.5 million units outstanding, which trade on the Toronto Stock Exchange under the symbol COS.UN. The Trust is managed by Canadian Oil Sands Limited.

-30-

Canadian Oil Sands Limited
Marcel Coutu
President & Chief Executive Officer

Units Listed – Symbol: COS.UN
Toronto Stock Exchange
 For further information:

Siren Fisekci
Director, Investor Relations:
(403) 218-6228
investor_relations@cos-trust.com

Web site: www.cos-trust.com