Suncor Energy Inc.

Suncor Energy Inc.

July 05, 2007 00:00 ET

Union members ratify agreement with Suncor Energy

Fort McMurray, Alberta (July 5, 2007) - Members of the Communications Energy and Paperworkers (CEP) Union Local 707 in Fort McMurray have voted in favour of a new three-year agreement with Suncor Energy Inc. The agreement includes a wage increase of seven per cent in the first year and six per cent in each of the following two years, as well as a $4,000 lump sum payment.

"This agreement, along with Suncor's total rewards package, positions us as leaders in a very competitive labour market," said Kirk Bailey, executive vice president, Oil Sands. "The collective agreement lays a good foundation for continued strong relationships between Suncor and CEP Local 707, so the long term goals of both the union and the company can be met."

Suncor's current agreement with the CEP expired May 1, 2007.

CEP Local 707 represents more than 2,100 of the 4,000 employees who work at Suncor's oil sands operation north of Fort McMurray.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.

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For further information, contact:

Patti Lewis
(403) 205-6796