Petro-Canada Appoints McIntyre President.

CALGARY -- Petro-Canada announced today the appointment of Norman F. McIntyre as its new President. Ron Brenneman continues as Chief Executive Officer. The move takes place as the Corporation undertakes the significant expansion of its international activity resulting from the $3.2 billion acquisition of the Veba upstream business from BP. In his new position, Mr. McIntyre will represent Petro-Canada's interests in aligning the newly acquired international assets with the Corporation's strategy and direction. He will continue to play a senior role on the Executive Leadership Team, and will provide advice and counsel to the CEO on matters of business policy and overall strategy. Mr. McIntyre will be based in London.

"Norm McIntyre is a first-rate executive and a first-rate individual," Mr. Brenneman said. "We want investors to share our confidence that Petro- Canada will move decisively and successfully to integrate the Veba organization and assets into our world, while maintaining our growth and performance momentum internationally. Norm has the ability, the experience and the track record to quickly establish that confidence, and to deliver on it."

In the course of his 20 years with the Corporation, most recently as Executive Vice President responsible for the upstream, McIntyre played a key role in making Petro-Canada a leading participant in the major areas of upstream opportunity in Canada, including East Coast oil, the Athabasca oil sands, and Western Canada gas. His Petro-Canada activities also include extensive international experience.

McIntyre is a petroleum engineer (University of Wyoming), with a Masters of Science degree in Management from the Massachusetts Institute of Technology. He has been an involved and committed industry and community leader throughout his career, most recently as Canadian Chairman of the Organization for the World Petroleum Congress (held in Calgary in June 2000), Chairman of the Calgary United Way Campaign, and Chairman of the Canadian Association of Petroleum Producers.

Contact: Chris Dawson, Corporate Communications, (403) 296-3648, Internet site: http://www.petro-canada.ca/; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.