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Aeroplan LP appoints Rob Peterson as Executive Vice-President and Chief Financial Officer

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MONTREAL - Aeroplan President and Chief Executive Officer, Rupert Duchesne, today announced the appointment of Rob Peterson to the position of Executive Vice-President and Chief Financial Officer of Aeroplan LP, effective September 1, 2005.

Peterson, formerly Executive Vice-President and Chief Financial Officer of ACE Aviation Holdings Inc. will be responsible for all aspects of financial planning and reporting, financing, treasury and tax matters. Marc Girard will continue in his role as Vice-President, Finance.

"We are extremely pleased to welcome Rob aboard at this early stage of Aeroplan's growth as a publicly held company," said Rupert Duchesne. "Rob's extensive experience in the industry and his thorough knowledge of Aeroplan's business has been invaluable to the Aeroplan executive team throughout our transformation as a stand-alone business unit of ACE. I look forward to his substantial contribution, coupled with Marc's expertise, as we focus on maximizing value for our unit holders."

Rob was previously Executive Vice-President and Chief Financial Officer of Air Canada and since October 2004 had also assumed the dual role of Executive Vice-President and CFO at ACE Aviation Holdings Inc., Air Canada's parent company. Rob joined Air Canada in 1978 and held progressively senior positions in the airline's Finance Department until his appointment as Treasurer in 1987 followed by his promotion to Chief Financial Officer in 1993.

About Aeroplan

In the more than 20 years since its inception, Aeroplan has grown into Canada's premier loyalty marketing company.

Our millions of members earn Aeroplan Miles with our network of more than 60 partners, representing more than 100 brands, in the financial, retail and travel sectors. They redeem those miles towards travel to more than 700 destinations worldwide or for a wide array of exclusive lifestyle rewards.

Together with our world-class partners, Aeroplan develops and executes innovative and appealing member-targeted marketing programs designed to engage the loyalty of this elite and prestigious segment of Canadian consumers.

In June, ACE and Aeroplan Income Fund (the Fund) successfully completed the first-ever monetization of an airline frequent flyer loyalty program with an initial public offering (IPO) of the Fund, which represented a $2 billion equity valuation for Aeroplan. The IPO constituted a 14.4% arodivesture of Aeroplan with ACE holding the balance 85.6% interest in Aeroplan LP.

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