Calgary, Alberta (October 22, 2004) – Canadian Oil Sands Trust (“Canadian Oil Sands” or the “Trust” or “we”) (TSX - COS.UN) announced its third quarter financial results and a distribution of $0.50 per Trust unit for the quarter ended September 30, 2004. The third quarter distribution will be paid on November 30, 2004 to unitholders of record on November 2, 2004.

Click here for the full text of this third quarter release, including the Management's Discussion and Analysis