Excelsior Energy Limited

Excelsior Energy Limited

March 28, 2008 01:51 ET

Richard Grafton Appointed to the Board of Excelsior Energy Ltd.

CALGARY, ALBERTA--(Marketwire - March 28, 2008) - Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Company") is pleased to announce that Richard A. Grafton has been appointed to the Board of Directors effective March 17, 2008.

Mr. Grafton has over 30 years experience in the investment and energy business. Currently, Mr. Grafton is President & CEO of Grafton Capital Corporation, a private capital company concentrating on long term value creation. In 2007, Mr. Grafton was appointed Vice-Chairman of Canaccord Capital Corporation acting as the firms' ambassador to the global energy markets. Prior thereto, Mr. Grafton acted as Executive Vice President & Managing Director, Global Head of Energy of Canaccord Adams. He was responsible for all aspects of the firm's oil and gas operations.

Mr. Grafton was a former Managing Director and a Founding Shareholder of FirstEnergy Capital Corp. ("FirstEnergy"). During his tenure at FirstEnergy, the firm completed over $18 billion of oil and gas financings. Prior to FirstEnergy, Mr. Grafton was President and CEO of Avenir Capital Corporation. Prior to Avenir, Mr. Grafton worked at Peters & Co. Limited for ten years on the Institutional Sales Desk.

Mr. Grafton graduated from the University of British Columbia with a Bachelor of Commerce majoring in Finance in 1977.

David Winter, President & CEO commented: "Mr. Grafton's experience and expertise in the capital investment business both in North America and Europe will complement our Board's broad range of industry expertise. His appointment comes at a time when Excelsior Energy will be taking the next steps towards a producing SAGD project in the next three years".

About Excelsior Energy

Excelsior is active in oil sands exploration and appraisal in the Hangingstone and West Surmont areas near Fort McMurray, Alberta and will hold a 75% working interest in 58 contiguous sections on completion of its farm-in obligations. The Company also holds a 100% working interest in Blocks 16/1a and 16/6c in the UK North Sea and a minor interest in gas production in Alberta. Excelsior's strategy is to capture oil and gas appraisal and development opportunities where we can leverage Management's diverse international experience and field development expertise. This includes heavy oil reservoir engineering and development of complex fields. The scale of the oil sands resource opportunity in Alberta complements Excelsior's international portfolio and strategy.

Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management. Readers are cautioned not to place undue reliance on these statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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