October 26, 2006 11:04 ET

Petro-Canada Declares Quarterly Dividend

CALGARY, ALBERTA--(CCNMatthews - Oct. 26, 2006) - Petro-Canada announces a quarterly dividend of $0.10 per share on the outstanding common shares of the Company, payable on January 1, 2007 to shareholders of record at the close of business on December 3, 2006.

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and downstream sectors of the industry in Canada and internationally. The Company creates value by responsibly developing energy resources and providing world class petroleum products and services. Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Petro-Canada's common shares trade on the Toronto Stock Exchange (TSX) under the symbol PCA and on the New York Stock Exchange (NYSE) under the symbol PCZ.

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