Petro-Canada
NYSE : PCZ
TSX : PCA

Petro-Canada

June 06, 2005 23:59 ET

Petro-Canada Named National Partner of Vancouver 2010 Olympic and Paralympic Winter Games

CALGARY--(CCNMatthews - June 6) - The Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) is pleased to announce Petro-Canada as its National Partner in the Oil and Gas category. The eight-year agreement provides Petro-Canada with sponsorship rights for the 2010 Olympic and Paralympic Winter Games, including sponsorship rights for the Canadian Olympic Team for the Torino 2006, Beijing 2008, Vancouver 2010 and 2012 Olympic Games.

"The 2010 Winter Games are Canada's Games and we are privileged to have a partner like Petro-Canada to help us reach every home and every family in every corner of our country," said John Furlong, VANOC chief executive officer. "With the help of Petro-Canada's 5,000 enthusiastic employees, together we will make an outstanding contribution to sport as we travel the journey towards excellence in 2010 and beyond."

"We believe in the Olympic spirit because it's based on working hard, playing fair and making each other stronger," said Ron Brenneman, president and chief executive officer of Petro-Canada. "This is how we run our business, and it's why our employees are thrilled to continue bringing the same enthusiasm and dedication to the Games."

Petro-Canada's commitment is valued at $62.5 million Cdn. It includes an investment of $35.5 million in products, services and marketing support (including fuel and fuel-related products) to be used by VANOC, $18 million in cash and $9 million in athlete support through numerous programs to be developed over the coming months.

VANOC is responsible for the planning, organizing, financing and staging of the XXI Olympic Winter Games and the X Paralympic Winter Games in 2010. The 2010 Olympic Winter Games will be staged in Vancouver and Whistler from February 12 to 28, 2010. Whistler will host the Paralympic Winter Games from March 12 to 21, 2010. VANOC's marketing program is focused on securing mutually rewarding partnerships with shared values to generate sufficient revenue to host successful Winter Games in 2010 and to leave a financial legacy for sport.

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. Its common shares trade on the Toronto Stock Exchange under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.

BACKGROUNDER

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Vancouver 2010(TM/MC) Winter Games Backgrounder

Bid History

On July 2, 2003, Members of the International Olympic Committee (IOC) selected Vancouver as the Host City of the 2010 Olympic and Paralympic Winter Games.

Bidding for the Winter Games dates back to the early development of the Whistler Resort in the 1960s. In 1970, Vancouver/Whistler was a finalist to host the 1976 Winter Games. In 1998, the Canadian Olympic Committee selected Vancouver to present Canada's Bid for the 2010 Winter Games. Over a five-year period, Vancouver 2010 developed a games delivery plan with a vision of creating sustainable legacies for athletes, sport development, host communities and the Olympic movement.

The Vancouver 2010 Games Organizing Committee (VANOC)

Vancouver 2010 was incorporated as the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games on September 30, 2003 as a not for profit corporation without share capital under the Canada Corporations Act. The Committee's mandate is to "support and promote the development of sport in Canada by planning, organizing, financing and staging the XXI Olympic Winter Games and X Paralympic Games in 2010." VANOC's Chief Executive Officer is John Furlong.

The Vancouver 2010 Board, chaired by Jack Poole, is made up of 20 members nominated by: the Canadian Olympic Committee (seven, including the three Canadian members of the International Olympic Committee); the Government of Canada (three); the Province of British Columbia (three); the City of Vancouver (two); the Resort Municipality of Whistler (two); the Canadian Paralympic Committee (one); a joint appointment by the Band Councils of the Lil'wat and Squamish Nations (one); and one member nominated by the other 19 members.

Vancouver Sports and Events

Freestyle Skiing, Snowboarding. All the Ice Sports: Hockey, Figure Skating, Curling, Speed Skating and Short Track Speed Skating. Olympic Opening and Closing Ceremonies, nightly medals presentations and cultural festival and Opening Ceremonies for the Paralympic Games.

Whistler Sports and Events

Alpine Skiing (speed and technical events), Nordic Sports (Cross Country Skiing, Ski Jumping, Nordic Combined and Biathlon), Sliding Sports (Bobsleigh, Luge and Skeleton), all Paralympic Sports (Alpine Skiing, Biathlon, Cross Country Skiing, Sledge Hockey, Wheelchair Curling), Olympic and Paralympic medals presentations and cultural activities and Paralympic Games Closing Ceremonies.


    The 2010 Winter Games - Quick Facts

    Olympic Winter Games Dates:                      February 12 - 28, 2010

    Paralympic Winter Games Dates:                   March 12 - 21, 2010

    Number of Olympic athletes and officials:        5,000

    Number of Paralympic athletes and officials:     1,700

    Countries participating in Olympic Winter Games: 80+

    Countries participating in
     Paralympic Winter Games:                        40+

    2010 Games events tickets available:             1.8 million

    Estimated number of media:                       10,000

    Estimated number of Games volunteers:            25,000

    Estimated number of volunteers for
     Games ceremonies:                               10,000

    2010 Games Operating Budget:                     $1.345 billion (CAD)(*)

    (*)Revenues come from IOC television broadcasting rights, international
    and domestic sponsorships, ticket sales, merchandising and licensing
    programs

BACKGROUNDER

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Petro-Canada - Our Olympic Heritage

Petro-Canada is a longtime and dedicated supporter of the Olympic and Paralympic movements in Canada.

Petro-Canada was a proud, prominent partner of the 1988 Olympic Winter Games in Calgary through its Olympic Torch Relay program. Petro-Canada organized, staffed and ran the event. The Torch Relay traveled 18,000 kilometers over 89 days and physically came within a few kilometers of 90% of the Canadian population. More than 6.5 million Canadians visited our retail outlets to sign up for a chance to carry the torch - and 6,100 people got that chance.

During the 1988 Games, Petro-Canada initiated the Olympic commemorative glassware campaign. For $1, Canadians could purchase glasses and support Canada's Olympic Team. More than 50 million glasses were sold (equal to two glasses for every man, woman and child in Canada at the time!). The money helped create the Petro-Canada Olympic Torch Scholarship Fund. The fund has grown to $9.2 million and has distributed over $6.5 million in scholarships to more than 2,000 athletes and coaches. Petro-Canada continues to support Canadian Olympic athletes and coaches through the sale of promotional items at retail service stations.

We are one of the longest-standing partners of the Canadian Olympic Committee (COC) starting from our support of Canada's Olympic Team during the Calgary 1988 Games to Athens in 2004. Petro-Canada initiated and participated in a number of exciting COC programs. One such program was the "Excellence Fund." This program was pioneered by Petro-Canada, in concert with the COC and others, to further cultivate Canada's sport success by providing financial assistance to elite athletes and coaches capable of participating internationally.

Petro-Canada has proudly sponsored the Canadian Paralympic Committee (CPC) and Canadian Paralympic Team since 2000. Our goal is to support Canada's Paralympic athletes and organizers so they achieve positive results at the Games and an increased profile in Canada. We created the Petro-Canada Paralympic Schools Program, which raises awareness of the Paralympic Movement in Canada and showcases the Paralympic Games. As well, the program teaches students how sport empowers people with physical disabilities and inspires students to help improve the lives of people with disabilities in their community.

We support Canadian coaches by sponsoring the annual Sports Leadership Conference, the premier international conference for sport leaders. We also created the Petro-Canada Coaching Excellence Award for coaches of medal-winning athletes in Olympic, Paralympic and Open World championships. Petro-Canada supported and organized coaching recognition events at the 2002 Olympic Winter Games in Salt Lake City and the 2004 Olympic Games in Athens.

With the support of the COC and CPC, we developed the Flag Bearer Award, named in honour of legendary Olympian, James Worrall. This award captures the significance of carrying our country's flag in the opening and closing ceremonies of the Olympic, Paralympic and Pan American games.

Petro-Canada also lends a hand through a variety of other Olympic-related organizations such as the Olympic Academy of Canada, Special Olympics Canada and Canada's Pan American Team.

And now we will proudly embark on a new chapter in our Olympic and Paralympic involvement as a Tier 1 National Partner for the Vancouver 2010 Olympic and Paralympic Winter Games. We will also support Canada's Olympic Team in Torino in 2006, Beijing in 2008 and the yet to be decided location of the 2012 Olympic Games.

Contact Information

  • Media Contacts:
    Helen Wesley
    Petro-Canada
    (403) 296-3555
    or
    VANOC Communications
    (778) 328-5003