Alberta Oilsands Inc. Incumbents' Version of the Facts Reads More Like Calculated Fiction

TORONTO, ONTARIO--(Marketwire - June 14, 2012) - The defensive retorts of the Incumbents are completely transparent in their inaccuracy, and are at odds with both their public disclosures as well as their investor communications.

The concerned shareholders look forward to real communication, accountability, and growth of the business and the share price after June 28th.

Joe Francese stated "The so-called facts can be twisted as much as one chooses. What cannot be twisted are the truths that we can measure objectively - all concerned shareholders have lost a significant amount of their initial investment. This is why we came to the table to promote change."

The concerned shareholders are confident that their fellow shareholders will be more interested in the Incumbents' performance than their conspiracy theories. The concerned shareholders continue to implore shareholders to judge the Incumbents not on what they say but on what they have done. We urge you to visit www.saveAOS.com to be well versed in our plan of action to re-build AOS, and to save the Company before the treasury is dwindled down to nothing.

Voting Instructions:

Time is running short. We urge shareholders to seize this opportunity and vote the GREEN proxy for the concerned shareholder nominees. To ensure the Green proxy is received in time to be voted at the meeting, shareholders are asked to return their proxies no later than June 25, 2012 at 5:00 P.M. (Calgary Time). For assistance with voting your proxy please contact Phoenix Advisory Partners (toll-free) 1-800-294-4817 or AOS@phoenixadvisorypartners.com.