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Press release from Marketwire

Canadian Oil Sands Files Remaining Annual Disclosure Documents

Friday, March 23, 2012

Canadian Oil Sands Files Remaining Annual Disclosure Documents17:53 EDT Friday, March 23, 2012CALGARY, ALBERTA--(Marketwire - March 23, 2012) - Canadian Oil Sands Limited (TSX:COS) (OTCQX:COSWF) (the "Corporation") today filed with Canadian securities regulatory authorities the Corporation's 2011 Annual Report and Management Proxy Circular dated March 20, 2012. The Corporation's audited consolidated annual financial statements for the year ended December 31, 2011 and related management's discussion and analysis, as well as its Annual Information Form dated February 23, 2012 were previously filed on February 24, 2012. Copies of the filed documents may be obtained through the Corporation's profile on www.sedar.com, the Corporation's website at www.cdnoilsands.com, or by emailing the Corporation at invest@cdnoilsands.com. Canadian Oil Sands Limited Canadian Oil Sands Limited provides a pure investment opportunity in the oil sands through its 36.74 per cent interest in the Syncrude Project. Syncrude is a leader in Canada's oil sands industry, operating since 1978 with a productive capacity today of 350,000 barrels per day of light, high-quality crude oil. For more information about Canadian Oil Sands please visit our web site at www.cdnoilsands.comCanadian Oil Sands LimitedMarcel CoutuPresident & Chief Executive OfficerTicker SymbolsToronto Stock Exchange Symbol: COSOCTQX Symbol: COSWFFOR FURTHER INFORMATION PLEASE CONTACT: Siren FisekciCanadian Oil Sands LimitedVP, Investor & Corporate Relations(403) 218-6220invest@cdnoilsands.comORAlison TrollopeCanadian Oil Sands LimitedManager, Investor Relations(403) 218-6220invest@cdnoilsands.comwww.cdnoilsands.com