Air Canada Names Calin Rovinescu Executive Vice President, Corporate Development And Strategy

3rd Mar 2000

Air Canada announced today it has named Calin Rovinescu to the position of Executive Vice President, Corporate Development and Strategy, effective April 1, 2000. His mandate will include overall responsibility for Alliances, Corporate Affairs & Government Relations, the Corporate Secretariat, Customer Loyalty Programs, Information Technology and E-Commerce, Law and People.

Mr. Rovinescu, currently the Managing Partner of Stikeman, Elliott in Montreal was the key advisor and strategist to Air Canada in the airline`s successful defence of the takeover bid by Onex Corporation and on the acquisition of Canadian Airlines. Mr. Rovinescu has been a long-time adviser to Air Canada, having advised it on various financings in the early 1980`s, on its two-stage privatisation, on the acquisition of certain regionals and on the sale of Purolator Courier and the Enroute credit card business.

” I am very pleased to announce Calin`s appointment to this key strategic position at this critical turning point for Air Canada and the Canadian airline industry,” said Robert Milton, President and Chief Executive Officer. “Calin`s extensive business background and capabilities will further strengthen the existing strong management team. His expertise will be invaluable to the airline in developing profitable new businesses and realizing the inherent value of existing businesses such as Aeroplan.”

Mr. Rovinescu has been the Managing Partner of Stikeman, Elliott in Montreal since 1996 and a member of the firm`s Partnership Board and Executive Committee. From 1993 to 1996, he was the senior resident principal of the firm`s London office and prior to that he headed the firm`s corporate/commercial section in Montreal. He has advised various large public and private enterprises in Canada, the U.S. and Europe on privatisations, friendly and hostile takeover bids and restructurings in various industries including the airline industry, technology and E-commerce, financial services, communications and natural resource sectors.

Mr. Rovinescu holds graduate degrees from McGill University, Université de Montréal and the University of Ottawa. He is a director of several corporations and charitable organizations.





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