August 22, 2002 (Toronto,ON) – The Executive Committee of the Canadian
Olympic Committee (COC) has appointed Lou Ragagnin to assume the interim
role of CEO and Secretary General of the COC. Mr. Ragagnin is the Executive
Director,Operations for the COC, and had previously and has risen to the
same challenge held the same responsibilities, during the period between the
passing of Carol Anne Letheren and the hiring of Jim Thompson, who died
suddenly last Wednesday of a heart attack.

“Jim Thompson had led the management team of the COC in an extensive
restructuring and planning process. That process was near completion and
will now be executed upon by the Management team including Lou Ragagnin;
Nick Marrone, Executive Director, Marketing; and Mark Lowry, Executive
Director, Sport, who areis committed to making itfulfilling Jim’s legacy to
for high performance sport in Canada.” said Michael Chambers, President of
the COC. “I have full confidence that plans developed under his leadership
will be executed upon and, rest assured, the COC continues to beremains
committed to a focussed on elite athletes and high performance sport in
Canada assisting Canadian athletes succeed in international sport.”

Lou Ragagnin had been working closely with Jim on the COC restructuring and
strategic planning process over the past five months. “Jim and the executive
team at the COC were excited about the progress we had made in the short
time Jim was the CEO. His strength was focussing on the issues and
resolving them with an action orientation geared agenda geared towards
results.” sSaid Ragagnin. “We are 100% committed to staying on course and
achieving the goals established in the plan – it is what Jim would have
wanted us to do!”

During a meeting held on Wednesday morning, the Executive Committee of the
COC also decided to immediately initiate the hiring process for a CEO.

The Canadian Olympic Association changed its name to Canadian Olympic
Committee in April 2002, to bring it in line with other national Olympic
committees around the world.

The COC, a private, not-for-profit corporation, is the largest private
sector benefactor of high performance sport in Canada. It is responsible for
all aspects of Canada’s involvement in the Olympic movement, including
Canada’s participation in the Olympic and Pan American Games. In addition,
the COC manages a wide variety of programs that promote the Olympic Movement
in Canada through cultural and educational means. For more information see
the COC website: www.coa.ca