Canadian Pacific (TSX: CP) (NYSE: CP) today announced it has launched a faster intermodal rail service between Toronto and Calgary to better serve customers in this key corridor. The new service offering cuts 20 hours from previous schedules.

“Customers are taking advantage of CP’s faster transit times in major intermodal corridors, and given Calgary’s importance as a Canadian distribution hub, improving this service is the next logical step,” said Jane O’Hagan, CP’s executive vice president and chief marketing officer. “We are helping our customers become more competitive in their own markets and offering previously unavailable options to business not currently shipping with CP.”

O’Hagan added, “CP is focused on its commitment to faster, more reliable service for its customers. The improved schedule is made possible by pairing efficient train design at origin while leveraging a CP advantage; the shortest rail route between Toronto and Calgary.”

The 20-hour service improvement means the 3,400 kilometre distance from Toronto to Calgary will now take 64 hours.

Using similar practices last year, CP shortened schedules from Vancouver to Chicago and Vancouver to Toronto. Initiatives like these will continue to improve asset utilization while meeting customer demands for supply-chain improvements.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contact:

Media                                                     
Ed Greenberg
612-904-6180
612-849-4717 (cell)
ed_greenberg@cpr.ca
24/7 Media Pager: 855-242-3674

Canadian Pacific Railway (TSX: CP) (NYSE: CP) today announced that the Hon. Jim Prentice, P.C., Q.C., has been appointed to the company’s Board of Directors effective June 7, 2013.

“Canadian Pacific is very fortunate to have Jim join the Board,” said CP Board Chairman Paul Haggis.  “His integrity, wide-ranging skills and knowledge of public and corporate matters will serve the Board well.”

Mr. Prentice currently serves as the Senior Executive Vice-President and Vice Chairman of the Canadian Imperial Bank of Commerce (CIBC) and is a member of the Board of Directors of Bell Canada (BCE Inc.) and of Coril Holdings Ltd.  He is also the Canadian Chairman of the Trilateral Commission.

Mr. Prentice is respected for his contribution to public life in Canada. After a successful legal career he was elected to the House of Commons as the Member of Parliament for Calgary Centre North in 2004 and re-elected in 2006 and 2008.  From January 2006 until November 2010, he was one of the most senior Ministers in the Canadian Government, serving variously as the Minister of Industry, the Minister of the Environment and the Minister of Indian Affairs and Northern Development.

Mr. Prentice continues to serve a number of public and charitable organizations, in particular as a Governor and Vice Chair of Canada’s Sports Hall of Fame and as a Governor of The Duke of Edinburgh’s Award - Charter for Business. He is also a Board Member and the Fundraising Chair of the Calgary Police Foundation.

“I am proud to be part of this great Canadian company,” said Prentice.  “The CPR is a foundational part of Canada’s economic infrastructure and it is an exciting time to join the Board as the Company moves forward.  I look forward to working with the Board as we guide the Company on its transformational journey.”

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Mark Seland
Tel.:  403-540-7178
24/7 Media Pager: 855-242-3674            
email: Mark_Seland@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-6170
email: investor@cpr.ca

Canadian Pacific Railway (TSX: CP) (NYSE: CP) today released information from the company’s preliminary investigation relating to the Wanup, Ontario derailment Sunday June 2, 2013.

Certain early media reporting about the incident is inaccurate.  Following are facts revealed through initial review of the incident.

At approximately 9:50 am EDT on Sunday, June 2 a northbound freight train derailed east of Sudbury near Wanup, Ontario.

There were no injuries as a result of the incident.  Environmental experts were immediately deployed to the site and continue working closely with community first responders.

The train was travelling over a rail trestle bridge spanning the Wanapitei River at the time of the incident.

The preliminary CP investigation has identified that one of the rail cars experienced a sudden and unexpected wheel bearing failure which caused the rail car to derail just prior to the bridge.  The derailed car then struck the bridge causing a larger derailment and further infrastructure damage. 

Twenty four intermodal containers were involved in the incident, some entering the river as a result of the derailment.  Four currently remain in the river.  Crews are working today to recover these last containers.

CP has an extensive network of electronic wayside train inspection systems.   One of the primary types of detectors examines the temperature of each rail car’s wheels.  This train passed by nine of these detectors on its route toward Sudbury.  Each of these detectors showed that all wheels and bearings were operating at a normal and acceptable temperature.  There was no indication of any bearing problems. The two detectors closest to the incident site were inspected Sunday and verified to be working as intended.

This incident could be compared to a properly maintained and serviced passenger vehicle that showed no dashboard alarm indicators prior to experiencing a blown tire.  In this same way, the incident at Wanup was also undetectable.

CP crews and local responders are continuing work to remove the cars from the river, assess the situation and determine the scope of required repairs. Officials are also working on identifying the types of consumer products within the containers involved in the derailment.  Preliminary inspection indicates there are no materials or products of concern to the public or environment.

CP continues its investigation along with local authorities and the Transportation Safety Board of Canada. 

CP has detour routes available to continue with the transportation of customers’ shipments.  Some delays will be temporarily incurred.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Ms. Tracy Robinson, Vice President Marketing & Sales, Energy and Merchandise Canadian Pacific (TSX: CP) (NYSE: CP), will address the Cowen Securities 6th Annual Global Transportation Conference on Tuesday, June 11, 2013 at 8:00 am Eastern time.

Ms. Robinson’s presentation materials and a live webcast of her remarks will be available at www.cpr.ca under the “Invest in CP” tab.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.: 612-849-4717
24/7 Media Pager: 855-242-3674
email: Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-3591
email: investor@cpr.ca

E. Hunter Harrison, Chief Executive Officer, Canadian Pacific (TSX: CP) (NYSE: CP), will address the Wolfe Global Transportation Conference on Wednesday, May 22, 2013 at 12:30pm Eastern time at Fordham Law School at Lincoln Center, New York City, NY.

A live webcast of Mr. Harrison’s remarks will be available at www.cpr.ca under the “Invest in CP” tab.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-3591
email: investor@cpr.ca

Mr. Keith Creel, President and Chief Operating Officer, Canadian Pacific (TSX: CP) (NYSE: CP), will address the Bank of America Merrill Lynch 2013 Global Transportation Conference on Thursday, May 16, 2013 at 8:00 a.m. Eastern time at The Four Seasons, Boston, MA.

Mr. Creel’s presentation materials and a live webcast of his remarks will be available at www.cpr.ca under the “Invest in CP” tab.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific’s Chief Executive Officer, E. Hunter Harrison, has been inducted into the Maritime Association of Port of New York & New Jersey’s International Maritime Hall of Fame.

Mr. Harrison, recognized for his leadership in intermodal transportation, customer services and logistics, and for his promotion of efficient, reliable intermodal services for CP, received the honor at the 20th Annual International Maritime Hall of Fame award gala in New York City among members of the international maritime world industry.

"Hunter Harrison is a rail visionary who leads to keep the international transportation industry strong and competitive in today's challenging business environment," said Edward J. Kelly, Executive Director, Maritime Association of the Port of New York & New Jersey.

Since 1993, the award has recognized maritime visionaries, for excellence in their company, organization, or services, that best exemplify the qualities of futuristic thinking that will guide the maritime industry in the 21st Century.

Also honored at the award gala were New York City Mayor, Michael R. Bloomberg; Morton S. Bouchard III, President & CEO, Bouchard Transportation Co., Inc.; Joseph Dorto, President & CEO, Virginia International Terminals, Inc.; Maersk Mc-Kinney Møller, Chairman, A.P. Møller-Maersk; and Ronald D. Widdows, CEO, Rickmers Holding and Rickmers-Linie Shipping Group.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media                                                     
Ed Greenberg
Tel:  612-849-4717
24/7 Media Pager:  855-242-3674
ed_greenberg@cpr.ca

Targeting enhancements to network in Canada and United States

Canadian Pacific (TSX: CP) (NYSE: CP) today announced the company will move forward certain capital spending projects originally targeted for 2014 into this year, funded by a higher than anticipated 2013 cash-flow projection.  As such, the company will be investing an additional $75 to $100 million into its 2013 capital investment program.

“As our railway continues to transform, we see opportunities to accelerate enhancements to key sections of our North American system,” said Chief Executive Officer, E. Hunter Harrison.  “By taking these opportunities now to further improve our operations, we will be better positioned to respond to our customers’ shipping needs.”

The projects are primarily focused on productivity, safety and efficiency, highlighted by the following:

• Advance track upgrade work on the North Main Line between Winnipeg and Edmonton  
• Upgrades to signaling systems on CP’s main line between Moose Jaw and Chicago, which will improve productivity and increase capacity to meet shipping growth
• Achieve further expense savings and strengthen the balance sheet by opportunistically acquiring core assets that would otherwise be leased

In December 2012, CP announced 2013 capital spending of up to $1.1 billion.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media                                                   Investment Community
Ed Greenberg                                                     Nadeem Velani
Tel: 612-849-4717                                            Tel: 403-319-3591
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca                                          investor@cpr.ca

At its 2013 annual meeting of shareholders (AGM) held in Toronto earlier today, Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced that all nominees listed in the management proxy circular dated March 12, 2013 were elected as directors of CP.

The detailed results of the vote by ballot are as follows:

The formal Report on Voting Results with respect to all matters voted upon at the AGM will be filed with Canadian and U.S. securities regulatory authorities shortly.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel: 612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel: 403-319-3591
investor@cpr.ca

CP contributes $100,000 to breakfast program for thousands of Toronto children

A Toronto-area program that provides a nourishing breakfast for small children every school morning will now be able to expand its services to reach more kids, thanks to support by Canadian Pacific.

Canadian Pacific and the Breakfast Club of Canada (BCC) have announced the railway has contributed $100,000 with $50,000 earmarked for the opening of 16 new clubs, benefitting about 3,200 children. 

The remaining $50,000 will support the existing 66 clubs in Toronto schools that already reach 18,167 children every morning.

We are excited Canadian Pacific has joined us in advancing the Breakfast Club of Canada mission throughout the Greater Toronto Area,” said Daniel Germain, Founding President of the Breakfast Club of Canada. “As a community we need to show our children that the way to success in life, is through having success in school.  Starting their day in a safe, inclusive environment, with a nourishing meal is an important part of that success equation. We thank CP for its support.”

“Canadian Pacific values the important role of the Breakfast Club of Canada in providing so many young children a nourishing start to the day,” said CP Chief Executive Officer, E. Hunter Harrison.  “Our railway is pleased to be supporting the BCC and the work its doing in improving the quality of children’s lives through their in-school nutritional programming."

Germain added organizations like Canadian Pacific make BCC a leader in the solution to Canada’s growing levels of food insecurity in youth, the widening of the nutritional food gap, and ever increasing student productivity and success challenges.

About Breakfast Club of Canada

Breakfast Club of Canada celebrates their role as a National leader in nutritional programming in  schools, and their role as an advocate for the children in the public school system. BCC provides supports, leadership, food supplies, equipment, training and significant financial assistance for in-school breakfast clubs for children of all ages. 

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

For more information, please contact:

Don Inouye
Breakfast Club of Canada
Phone: 416-543-5179
email: Don.Inouye@breakfastclubcanada.org      

Breanne Feigel
Canadian Pacific
Phone: 403-319-3932
email: Breanne_Feigel@cpr.ca       

On Sunday April 28, at 11 a.m. local time, Canadian Pacific (TSX:CP)(NYSE:CP) employees will join others around the world to commemorate the men and women who have been injured or have lost their lives in the workplace on this global day of recognition.

“The safety and security of our employees and the communities where we operate have always been priorities for CP,” said Keith Creel, Canadian Pacific’s President and Chief Operating Officer.

Across the railway’s North American network that spans across 6 provinces and 13 states, all CP employees will observe one minute of silence at 11 a.m. local time which will be followed by the sounding of train whistles in a united honourary salute of remembrance.

“Safety is everyone’s responsibility and this day serves as an important reminder that employees can make a difference in workplace safety by working together, following the rules and looking out for one another,” added Mr. Creel.

This day also coincides with the start of Public Rail Safety Week in Canada. The Canadian Pacific Police Service (CPPS) will be taking their message of “Stay Alert, Stay Alive” to communities across the CP network between April 29 and May 5. The emphasis of this year’s program is on educating adults and children on the importance of safety around railroad property through police enforcement activities and school presentations.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contact:

Media                                                                                 
Kevin Hrysak                                                                        
Tel:403.836.3874
24/7 Media Pager:  855.242.3674
Kevin_Hrysak@cpr.ca

Delivers best first quarter results in company’s history

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced record Q1 2013 results. 
 
Reported net income in the first quarter was $217 million, or $1.24 per diluted share, versus $142 million, or $0.82 per share, in the first quarter of 2012.  This represents a 51 per cent year-over-year improvement in earnings per share.

FIRST-QUARTER 2013 RESULTS COMPARED WITH FIRST-QUARTER 2012:

• Total revenues were $1,495 million, an increase of 9 per cent and a quarterly record
• Operating expenses were $1,133 million, an increase of 3 per cent
• Operating income was $362 million, an increase of 32 per cent
• Operating ratio was 75.8 per cent, a 430 basis point improvement and a quarterly record

"CP delivered the best first quarter results in its history despite challenging winter conditions,” said E. Hunter Harrison, Chief Executive Officer.  “This is a true testament to the determination and perseverance of our outstanding team of railroaders.  There remains a lot of work to do as we continue to make significant changes to our operating model.  With a very strong start to the year and momentum quickly building, I am now even more confident that we are on pace toward the best year-end financial and operating performance in CP’s history.”

“The transformational journey of the railway continues,” added Harrison. "Through ongoing culture change and focused, disciplined execution of the plan, we will make this franchise even stronger, adding significant value to customers and shareholders.”

• Q1 2013 earnings release and financial reports

Editor’s Note

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on April 24, 2013.

Conference call access
Toronto participants dial in number: (647) 427-7450 
Operator assisted toll free dial in number: 1-888-231-8191 
Callers should dial in 10 minutes prior to the call.  

Webcast

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.   

A replay of the conference call will be available by phone through May 24, 2013 at 416-849-0833 or toll free 1-855-859-2056, password 31843416. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

Note on Forward-Looking Information

This news release contains certain forward-looking statements relating but not limited to our operations, anticipated financial performance, planned capital expenditures, and business prospects.  Undue reliance should not be placed on forward-looking information as actual results may differ materially.

By its nature, CP’s forward-looking information involves numerous assumptions, inherent risks and uncertainties, including but not limited to the following factors: changes in business strategies; general North American and global economic, credit and business conditions; risks in agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; inflation; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; uncertainties of investigations, proceedings or other types of claims and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; and various events that could disrupt operations, including severe weather, droughts, floods, avalanches and earthquakes as well as security threats and governmental response to them, and technological changes.  Other risks are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States.  Reference should be made to “Management’s Discussion and Analysis” in CP’s annual and interim reports, Annual Information Form and Form 40-F.

Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel: 612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel: 403-319-3591
investor@cpr.ca

Canadian Pacific (TSX: CP) (NYSE: CP) will release its first-quarter financial and operating results at 7:30 a.m. Eastern time (5:30 a.m. Mountain time) on Wednesday April 24, 2013.

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on April 24, 2013.

Conference call access

Toronto participants dial in number: (647) 427-7450  
Operator assisted toll free dial in number: 1-888-231-8191  
Callers should dial in 10 minutes prior to the call.  

Webcast

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.   

A replay of the conference call will be available by phone through May 24, 2013 at 416-849-0833 or toll free
1-855-859-2056, password 31843416. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Nadeem Velani
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX:CP)(NYSE:CP) today announced its annual meeting of shareholders to be held at the Royal York Hotel in Toronto, Ontario on Wednesday, May 1, 2013, at 9:00 am eastern standard time.

Paul Haggis, Chairman of the Board of Directors, will chair the meeting and the Company’s Chief Executive Officer, E. Hunter Harrison will review the company's 2012 performance and talk about the transformational journey that is occurring at CP. Mr. Harrison will then be joined by Keith Creel, President & Chief Operating Officer, to answer questions from shareholders.

There will be a live audio webcast of the meeting available on the company’s corporate website www.cpr.ca.

The company also filed today its Management Proxy Circular which is available at www.cpr.ca, as well as on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media                                                          Investor Relations
Ed Greenberg                                                Maeghan Albiston
Tel:  612-849-4717                                     Tel:  403 319-3233
24/7 Media Pager:  855-242-3674                investor@cpr.ca
ed_greenberg@cpr.ca    

Canadian Pacific (TSX:CP)(NYSE:CP) announced today that it has completed the filing of its 2012 annual report on Form 40-F with the U.S. Securities and Exchange Commission. A copy of the Form 40-F is available on CP’s website at www.cpr.ca.

Shareholders may request a printed copy of the complete 2012 audited financial statements, free of charge, by email to shareholder@cpr.ca  or by regular mail to Shareholder Services, Canadian Pacific, Suite 920, Gulf Canada Square, 401 – 9th Avenue S.W., Calgary, AB T2P 4Z4.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media                                        Investor Relations
Ed Greenberg                                        Janet Weiss
Tel:  612-849-4717                             Tel:  403 319-3591
24/7 Media Pager:  855-242-3674                 
ed_greenberg@cpr.ca                             investor@cpr.ca

The Board of Directors of Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today declared a quarterly dividend of thirty-five cents ($0.35) Canadian per share on the outstanding Common Shares. 

The dividend is payable on April 29, 2013 to holders of record at the close of business on March 28, 2013, and is an “eligible” dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: ed_greenberg@cpr.ca 

Investment Community
Janet Weiss
Tel: 403-319-3591
email: investor@cpr.ca

E. Hunter Harrison, Chief Executive Officer, Canadian Pacific (TSX: CP) (NYSE: CP) will address the J.P. Morgan Aviation, Transportation & Defense Conference on Wednesday, March 6, 2013 at 8:45 a.m. Eastern time at the J. P. Morgan Conference Center, New York City, NY.

Mr. Harrison’s presentation will provide highlights of CP’s current business performance and trends. 

There will be live audio webcasts of Mr. Harrison’s presentation.  Replays of the webcasts, as well as the presentation materials, will be available in the Investor section of CP’s website

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX:CP)(NYSE:CP) today announced the appointment of Keith Creel as CP’s president and chief operating officer effective February 5, 2013.  E. Hunter Harrison will remain chief executive officer (“CEO”) of the company.

Creel previously served as the executive vice president and chief operating officer of Canadian National Railway Company ("CN”).

“Keith joins CP after a very successful operating career where he rose from a management trainee in the operations department at Burlington Northern in 1992 to becoming EVP & COO at CN in 2010,” said E. Hunter Harrison, CP’s CEO. “I have worked with many talented operating people in this industry over the last four decades and Keith is by far one of the best young operating talents that I have ever seen,” continued Harrison.  “Canadian Pacific recently began its transformational journey to becoming the best railroad in North America and we look forward to benefiting from Keith’s strong leadership and operational expertise as we move forward.”

Reporting to Creel will be Jane O’Hagan, EVP & CMO, Scott MacDonald, SVP Operations System, Guido De Ciccio, SVP Canadian Operations and Doug McFarlane, SVP US Operations.

“I am thrilled to be joining CP during this historic time in its turnaround story,” said Creel. “I worked for Hunter for many years and am proud to be working alongside him once again.  I am also proud to be leading an outstanding team in sales and marketing and operations that I know to be exceptionally talented railroaders. I am confident that together, we will continue down the path that has already begun to restore superior customer service and operational excellence at CP.”

Creel obtained a Bachelor of Science in marketing from Jacksonville State University and completed the Advanced Management Program at the Harvard Business School.  Creel served as a commissioned officer in the US Army and served in the Persian Gulf War in Saudi Arabia.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Mark Seland
Tel: 403-540-7178
24/7 Media Pager: 855-242-3674
Mark_Seland@cpr.ca

Investment Community
Janet Weiss
Tel: 403-319-3591
investor@cpr.ca

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced its fourth-quarter 2012 results today.  CP’s diluted earnings per share, excluding significant items (*see Non-GAAP Measures below) comprised of labour restructuring and asset impairment charges was $1.28.  This compares favourably with fourth quarter of 2011 diluted earnings per share, exclusive of significant items of $1.11, an improvement of 15 per cent.  Reported diluted earnings per share for the fourth-quarter 2012, inclusive of significant items, was $0.08. Reported diluted earnings per share in fourth-quarter 2011, inclusive of significant items, was $1.30.

CP’s operating ratio, excluding significant items (*see Non-GAAP Measures below) was 74.8 per cent for fourth-quarter 2012, which compares favourably to 2011’s operating ratio of 78.5 per cent.  Reported operating ratio for fourth-quarter 2012, inclusive of significant items was 96.0 per cent.

“Canadian Pacific is moving forward on our transformational journey to become the most efficient railroad in North America,” said E. Hunter Harrison, President and Chief Executive Officer.   “This quarter, CP saw strong operating performance as we continued to implement significant changes to how we run the railroad.”

“Management made a number of hard decisions this quarter including booking several significant items.  With these decisions now behind us, we anticipate record-setting financial and operational results starting in 2013,” added Harrison.

Fourth-Quarter Significant Items

Announced items that impacted reported fourth-quarter 2012 and 2011 earnings include:

2012:

• $53 million labour restructuring charge ($39 million after tax), which unfavourably impacted diluted earnings per share (“EPS”) by 22 cents
• $185 million impairment of Powder River Basin and other investment ($111 million after tax), which unfavourably impacted diluted EPS by 64 cents
• $80 million asset impairment of certain locomotives ($59 million after tax), which unfavourably impacted diluted EPS by 34 cents

2011:

• $6 million advisory fees related to shareholder matters, which unfavourably impacted diluted EPS by 3 cents
• $37 million income tax benefit, which favourably impacted diluted EPS in 2011 by 22 cents
  
  

Financial Expectations for Full Year 2013

• Revenue growth to be in the high single digits
• Operating ratio to be in the low 70s
• Diluted EPS to be up in excess of 40 per cent versus 2012’s diluted EPS, excluding significant items (*see Non-GAAP Measures below) of $4.34

Key Assumptions for Full Year 2013

• Average fuel cost per gallon of US$3.45 per U.S. gallon
• Tax rate in the range of 25 per cent to 27 per cent
• Canadian to U.S. exchange rate at par

Defined Benefit Pension Expense Assumptions

• Defined benefit pension expense in 2013 and 2014 in the range of $50 million to $60 million per year, increasing to be in the range of $90 million to $110 million in 2015 and 2016

Conference Call Information

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on January 29, 2013.

Conference Call Access

Toronto participants dial in number: (647) 427-7450 
Operator assisted toll free dial in number: 1-888-231-8191  
Callers should dial in 10 minutes prior to the call.  

Webcast

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on the “Invest In CP” tab.   

A replay of the conference call will be available by phone through February 28, 2013 at

416-849-0833 or toll free 1-855-859-2056, password 85400106. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

Non-GAAP Measures

We present non-GAAP measures and cash flow information to provide a basis for evaluating underlying earnings and liquidity trends in our business that can be compared with the results of our operations in prior periods.  These non-GAAP measures exclude significant items that are not among our normal ongoing revenues and operating expenses.  They have no standardized meaning and are not defined by GAAP and, therefore, are unlikely to be comparable to similar measures presented by other companies. 

Diluted earnings per share, excluding significant items provides management with a measure of earnings on a per share basis that can help in a multi-period assessment of long-term profitability and also allows management and other external users of our consolidated financial statements to compare profitability on a long-term basis with that of our peers.  U.S. GAAP reported full year diluted earnings per share in 2012 was $2.79.  Diluted earnings per share, excluding significant items was $4.34, which excludes the fourth quarter significant items discussed above as well as an additional $0.35 related to management transition costs, advisory fees related to shareholder matters and an Ontario statutory tax rate change.  U.S. GAAP reported full year diluted earnings per share in 2011 was $3.34.  Diluted earnings per share, excluding significant items was $3.15, which excludes advisory fees related to shareholder matters and a significant favourable tax item.  Operating ratio, excluding significant items provides a measure of the profitability of the railway on an ongoing basis.  It provides the percentage of revenues used to operate the railway on an ongoing basis as it excludes significant items.

For further information regarding non-GAAP measures see our Management’s Discussion and Analysis for the third quarter of 2012 or the document Non-GAAP Measures on our web site at www.cpr.ca.

Note on forward-looking information

This news release contains certain forward-looking statements relating but not limited to our operations, anticipated financial performance, planned capital expenditures, and business prospects.  Undue reliance should not be placed on forward-looking information as actual results may differ materially. To the extent that we have provided guidance that contains non-GAAP financial measures, we may not be able to provide a reconciliation to the GAAP measure due to unknown variables and uncertainty related to future results.

By its nature, CP’s forward-looking information involves numerous assumptions, inherent risks and uncertainties, including but not limited to the following factors: changes in business strategies; general North American and global economic, credit and business conditions; risks in agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; inflation; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; uncertainties of investigations, proceedings or other types of claims and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; and various events that could disrupt operations, including severe weather, droughts, floods, avalanches and earthquakes as well as security threats and governmental response to them, and technological changes.  Other risks are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States.  Reference should be made to “Management’s Discussion and Analysis” in CP’s annual and interim reports, Annual Information Form and Form 40-F.

Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media                                                 Investment Community
Ed Greenberg                                       Janet Weiss
Canadian Pacific                                    Canadian Pacific
Tel.: (612) 849-4717                           Tel.: (403) 319-3233
24/7 Media Pager: 855-242-3674
email: ed_greenberg@cpr.ca                  email:  investor@cpr.ca

Jane O’Hagan Executive Vice President and Chief Marketing Officer, Canadian Pacific (TSX: CP) (NYSE: CP) will address:

February 12, 2013 – Stifel Nicolaus Transportation and Logistics Conference 2013 at 8:30 a.m. Eastern time at The Ritz Carlton, Key Biscayne, Florida.

February 13, 2013  – BB&T Capital Markets 28th Annual Transportation Services Conference at 11:30 a.m. Eastern time at The Biltmore Hotel, Miami-Coral Gables, Florida.

Ms. O’Hagan’s presentations will provide highlights of CP’s current business performance and trends. 

There will be live audio webcasts of Ms. O’Hagan’s presentations.  Replays of the webcasts, as well as the presentation materials, will be available in the Investor section of CP’s website.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX: CP) (NYSE: CP) will release its fourth-quarter financial and operating results at 7:30 a.m. Eastern time (5:30 a.m. Mountain time) on Tuesday, January 29, 2013.

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on January 29, 2013.

CONFERENCE CALL ACCESS

Toronto participants dial in number: (647) 427-7450 
Operator assisted toll free dial in number: 1-888-231-8191  
Callers should dial in 10 minutes prior to the call.  

WEBCAST

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.    A replay of the conference call will be available by phone through February 28, 2012 at 416-849-0833 or toll free 1-855-859-2056, password 85400106. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

CP also announces ratification of IBEW agreement

Canadian Pacific (TSX:CP)(NYSE:CP) said today it is pleased the collective bargaining process with the Teamsters Canada Rail Conference, on behalf of Running Trade Employees, and Rail Traffic Controllers has finally concluded and an agreement is now in place.

CP has received the award of federally-appointed arbitrator, William Kaplan.

The award contains, among other changes a cap on pension growth and a new pension accrual rate for future hires. The deal is three years in length and is retroactive to January 2012.

"Mr. Kaplan had an extremely difficult job. He was thoughtful and sought at all times to close the gap between the parties. CP is appreciative of his efforts," said Peter Edwards, vice president of Human Resources.

IBEW Ratification

CP is also pleased to announce the five-year agreement reached with the International Brotherhood of Electrical Workers on November 15, 2012 has been ratified with 94% acceptance.

This contract begins January 1, 2013.

"I am pleased we were able to reach another agreement with a key union and we are looking forward to working with the IBEW," said E. Hunter Harrison, president and CE0. "With our labour situation settled, CP is in very good position to continue the work of being an even more reliable and efficient railway for our customers."

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

For further information:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX:CP)(NYSE:CP) welcomed the Prime Minister of Canada’s recent recognition of the CP Holiday Train and specifically the hard work and dedication of thousands of community and employee volunteers who have made the annual rolling food bank fundraiser a success since 1999.

CP’s annual Holiday Train received one of the first Prime Minister’s Volunteer Awards, recognizing the role it plays in helping Canadian communities and food banks.  The ceremony took place in Ottawa on Friday, December 14th.

“Canadian Pacific is honoured the Prime Minister has recognized the Holiday Train initiative and we are extremely proud to receive this award,“ said E. Hunter Harrison, President and Chief Executive Officer of Canadian Pacific. “The Prime Minister’s Volunteer Award acknowledges the hard work, commitment and dedication of CP employees, food bank volunteers, and community organizers, who continue to demonstrate the importance of community and concern for their neighbours through the Holiday Train. They are the people who truly deserve this recognition.”

The Holiday Train is a network-wide fundraiser benefiting local food banks in Canada and the United States. Until December 18th, two brightly decorated freight trains are travelling across the two countries raising money, food and awareness. 

For its 14th year, more than 150 communities will experience the spirit of neighbours helping neighbours.  Since 1999, the Holiday Train has raised close to C$6.4 million and about 2.6 million pounds of food for North American food banks. Everything raised in the local community stays in the community for local distribution.

The Prime Minister’s Volunteer Awards recognize the exceptional contributions of volunteers, local businesses and innovative not-for-profit organizations in improving the well-being of families and their communities. The Awards highlight best practices in community leadership and encourage partnerships across sectors.  

“The CP Holiday Train is an important employee and community initiative. The Prime Minister’s Volunteer award is a testament to the role every person plays in having positive impact on their community,” said Harrison.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contacts:

Media
Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel: 403-319-3591
investor@cpr.ca
 

Canadian Pacific (TSX:CP)(NYSE:CP) formally confirmed its commitment to supporting efforts surrounding Hurricane Sandy with the presentation of a $250,000 check to the national food distribution organization Feeding America. The ceremony took place at the Canadian Pacific Holiday Train’s Minneapolis stop on Tuesday evening.

On November 14th, CP announced a $1 million donation to various established charities to help Hurricane Sandy victims,  which included a match of monetary donations made at any of the Holiday Train fundraising events of $250,000 directly to Feeding America.

“As hunger continues to impact our friends and neighbors across this country, Canadian Pacific takes pride in its support of Feeding America as the group takes a leading role in helping to feed the less fortunate still caught in the aftermath of Hurricane Sandy,” said Doug McFarlane, CP’s senior vice president of U.S. operations. “As our own Holiday Train makes its 14th trip across North America raising food, money, and awareness for community food shelves, we’re proud to partner with an organization that’s doing so much good for those in need.”

Yvonne Douge, Feeding America’s director, corporate partnerships, accepted the $250,000 check on behalf of the organization. 

"This donation by Canadian Pacific will provide over two million meals to help feed thousands of Americans who might otherwise go hungry due to disasters like Hurricane Sandy,” Douge said. “The Holiday Train program is a great example of how companies and nonprofits can work together to help those in need. Feeding America is grateful to Canadian Pacific for this generous donation."

Feeding America member food banks are continuing to provide food and other supplies to those affected by Hurricane Sandy. Feeding America also provides specialized disaster training for its food banks around the country, ensuring a prepared network and seamless disaster response.

The CP Holiday Train program is traversing the U.S. and Canada, bringing with it holiday cheer and a band of professional musicians playing holiday songs and raising money for local food shelves at 150 cities and towns, including 57 events in the U.S. Northeast and Midwest. Everything collected at each stop stays in the community for the local food shelf to distribute.  

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

About Feeding America

Feeding America is the nation's leading domestic hunger-relief charity. Our mission is to feed America's hungry through a nationwide network of member food banks and engage our country in the fight to end hunger.

Contact:

Media
Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

The Teamsters Canada Rail Conference – Maintenance of Way Employees Division (TCRC-MWED), representing 2600 maintenance of way workers, and Canadian Pacific (TSX:CP)(NYSE:CP) reached a tentative historic five-year contract settlement.

“I would like to congratulate this union’s leadership for their work and professionalism at the bargaining table,” said Canadian Pacific President and CEO E. Hunter Harrison.

Bill Brehl, President Teamsters Canada Rail Conference, Maintenance of Way Employees Division said: “The Teamsters’ bargaining committee unanimously endorses this tentative agreement and is recommending the membership ratify it.”

The Memorandum of Settlement will be sent to the union membership next week, with results from the vote expected in mid-January, 2013. 

Details of the tentative agreement will be released following ratification.

Contacts:                                                      

CP                                                                                    TCRC-MWED
Ed Greenberg                                                                    Bill Brehl                               
Tel: 612-849-4717                                                          Tel: 613-733-4456
Ed_greenberg@cpr.ca                                                        wbrehl@aol.com

Canadian Pacific (TSX:CP)(NYSE:CP) welcomed the announcement by the Women Executive Network (WXN) in Canada that  Jane O’Hagan, CP’s Executive Vice President & Chief Marketing Officer, is one of Canada’s 2012 Top 100 Most Powerful Women.
 
Ms. O’Hagan accepted her award at the 10th Annual WXN Awards Gala on December 5, 2012 in Toronto.
 
“Jane is a high performance professional who plays a critical role in leading CP into the future,” said E. Hunter Harrison, President and Chief Executive Officer. “She is well respected by all of her colleagues and customers alike.  On behalf of everybody at Canadian Pacific I congratulate you Jane.” 
 
Ms. O’Hagan’s career began with CP’s sales and marketing group before establishing and operating a successful consultancy for several years in the U.S. and Canada.  She rejoined CP in August 2002 as Assistant Vice-President, Strategy and Research.  Over the past eight years Jane has been promoted into positions of increased scope and responsibility including yield management, product design, corporate communications and public affairs, government affairs and Canadian Pacific Logistics Services.
 
Ms. O’Hagan is a founding member of CP’s Women on Track, a group created to foster an environment that facilitates mentoring, communications, learning, and connecting with women across CP’s rail network.
 
The award presented to Ms. O’Hagan, in the Corporate Executives category, recognizes the professional achievements of women who hold senior positions in Canada's publicly traded and privately owned companies, pension funds and co-operatives.
 
Founded in 1997, WXN is Canada’s leading organization dedicated to the advancement and recognition of women in management, executive, professional and board roles. WXN is a Founding Member of the Canadian Board Diversity Council, dedicated to increasing the diversity of Canada’s corporate boards. In the fall of 2008, WXN launched in Ireland, a first step in creating an international community of female leaders. The complete list of 2012 Winners can be found at top100women.ca .

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.

Contact:

Media
Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
Ed_greenberg@cpr.ca

Railway on track to achieve mid-60s OR for 2016

Canadian Pacific (TSX:CP)(NYSE:CP) President and CEO E. Hunter Harrison today outlined CP’s go-forward plan for change that will greatly improve service, increase the railway’s efficiency, lower cost and grow the business.

“Momentum is building at Canadian Pacific and the organization is driving to a culture of intense focus on operations.  Service will be what drives this organization, by providing a premium, reliable product offering through a lower cost operation,” Harrison said.  “We have initiated a rapid change agenda and have made tremendous progress in my first 160 days, and we are only getting started.”

Progress Already Underway

Harrison provided various examples of steps taken over the past five months highlighting CP's evolution to a more competitive railway, including the following:

• New executive leadership team now in place including a new Senior Operations lead team with a mandate for centralized planning and decentralized execution, to eliminate bureaucracy and have service decisions made faster and closer to the customer;
• Revamped intermodal and merchandise train service resulting in faster transit times for customers -  example of new intermodal services connecting Vancouver to Chicago or Toronto;
• Closure of hump-switching yards in Toronto, Winnipeg, Calgary and Chicago - producing significant cost savings and more efficient operating practices;
• Closure of intermodal terminals in Milwaukee, Obico (Toronto), and Schiller Park (Chicago) - reducing footprint and operating expenses while also facilitating efficient operating practices and reduced end-to-end transit times;
• Improved train service and network velocity resulting in the need for 195 fewer locomotives and 3,200 fewer leased rail cars – current stored, year-to-date lease returned and declared surplus locomotive units total 460.

Harrison continued, “We are hearing feedback from customers that they are seeing and liking the results.  The reduced number of assets and the decentralized decision making within the organization will allow us to appropriately size to any changes in market conditions. I have always maintained that by focusing on the best possible service, along with appropriate cost containment, the operating ratio will take care of itself. CP is no different; we already see the service and related bottom line benefits of our early actions.  It's an exciting time to be a part of this great franchise.”

The Plan for Change Going Forward

“We now have a leadership team that understands the urgency of making change and improving the culture of this organization” Harrison said.  “CP has many talented railroaders who want to win.  Together we are squarely focused on improved service and becoming the low cost carrier.  This will allow us to continue to grow with our customers.”

Moving forward, Harrison outlined various plans CP will execute to continue to improve service reliability, increase the railway’s efficiency, and grow the business.  Key highlights include:

• Reduce roughly 4,500 employee and/or contractor positions by 2016 - through job reductions, natural attrition and fewer contractors.  We have already made progress on this front and expect 1,700 positions to be eliminated by year end;
• New longer sidings program will improve asset utilization and increase train length and velocity – The plan will allow CP to move the same or increased volumes with fewer trains, and is expected to save over 14,500, or 4%, crew starts;
• Explore options to maximize full value of existing and anticipated surplus real estate holdings;
• Relocate CP's current corporate headquarters in downtown Calgary to new office space at CP-owned Ogden Yard by 2014;
• Review options for the Delaware & Hudson (D&H) in the U.S. Northeast, while maintaining options for continued growth in the energy business;
• Announced earlier, CP is seeking expressions of interest on the 660-mile portion of the former Dakota, Minnesota & Eastern (DM&E), west of Tracy, Minnesota.

"I am excited about what we've achieved to date, but we have only just started this journey to being a more competitive railway. We will continue to drive our service offering while focusing on taking unproductive costs out of the business.  We see a strong earnings profile and solid free cash flow picture emerging." Harrison added. "Canadian Pacific is a great franchise with strong growth upside and we are more confident than ever that we will drive shareholder value long into the future."

Financial expectations on CP's journey to 2016 include:

• Compound annual revenue growth of 4% - 7% off the 2012 base
• A full-year operating ratio in the mid-sixties for 2016
• Cash flow before dividends (*see Non-GAAP Measures below) of $900 million - $1,400 million in 2016
• Annual capital spending in the range of $1.0 - $1.1 billion over the period

Canadian Pacific (TSX:CP) (NYSE:CP) today announced its intention to explore strategic options for its main line track from Tracy, MN  west into South Dakota, Nebraska and Wyoming and is inviting expressions of interest from prospective partners.

The line includes approximately 660 miles of track which encompasses CP’s current operations between Tracy, MN and Rapid City, SD, north of Rapid City to Colony, WY, south of Rapid City to Dakota Jct., NE and connecting branchlines.  CP has operated the rail line in this area since it assumed operational control of the Dakota, Minnesota & Eastern (DM&E) railroad in 2008.  A number of grain, ethanol, clay and merchandise customers are rail-served in the area.

“This portion of the CP network would be an attractive and highly viable opportunity for a low-cost operator. There is a strong long-term franchise here for an operator willing to maintain high quality service and explore growth opportunities with existing and future customers,” said E. Hunter Harrison, President and Chief Executive Officer. “CP has successfully built many partnerships with shortline  and Class 1 railroads throughout its system and we look forward to assessing the ways interested parties could work together with us to deliver quality service to customers on the west end of the DM&E through an innovative partnership.”

CP will be contacting interested parties seeking expressions of interest in December, 2012.  Parties should contact Paul Clegg, Director Business Development at 403.319.6310 for further information.

“CP will continue to fully serve customers along this rail line as we work with interested parties and evaluate proposals.  We have undertaken similar reviews on other portions on our network in the past that have resulted in positive outcomes for shippers, employees, and operators,’’ added Harrison.

Note on Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable securities laws relating, but not limited, to our operations, priorities and plans, anticipated financial performance, business prospects, planned capital expenditures, programs and strategies.  This forward-looking information also includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance.  Forward-looking information may contain statements with words such as “anticipate”, “believe”, “expect”, “plan” or similar words suggesting future outcomes.

Undue reliance should not be placed on forward-looking information as actual results may differ materially from the forward-looking information.  Forward-looking information is not a guarantee of future performance.  By its nature, CP’s forward-looking information involves numerous assumptions, inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the following factors: changes in business strategies; general North American and global economic, credit and business conditions; risks in agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; inflation; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; uncertainties of investigations, proceedings or other types of claims and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; effects of changes in market conditions and discount rates on the financial position of pension plans and investments, including long-term floating rate notes; and various events that could disrupt operations, including severe weather, droughts, floods, avalanches and earthquakes as well as security threats and governmental response to them, and technological changes.  The foregoing list of factors is not exhaustive.

These and other factors are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States.  Reference should be made to “Management’s Discussion and Analysis” in CP’s annual and interim reports, Annual Information Form and Form 40-F.  Readers are cautioned not to place undue reliance on forward-looking information.  Forward-looking information is based on current expectations, estimates and projections and it is possible that predictions, forecasts, projections, and other forms of forward-looking information will not be achieved by CP.  Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX:CP)(NYSE:CP) today announced it will take a fourth quarter pre-tax non-cash charge of approximately $180 million ($107 million after tax) on its option to build into the Powder River Basin (PRB).

When CP acquired the Dakota Minnesota & Eastern railroad in 2007, it also acquired the option to build a 260-mile extension of its network into coal mines in the PRB. Components of the charge include the option, engineering design costs, land and capitalized interest.

It is CP’s intention to defer indefinitely plans to extend its rail network into the PRB coal mines based on continued deterioration in the market for domestic thermal coal, including a sharp deterioration in 2012. 

Note on Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable securities laws relating, but not limited, to our operations, priorities and plans, anticipated financial performance, business prospects, planned capital expenditures, programs and strategies.  This forward-looking information also includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance.  Forward-looking information may contain statements with words such as “anticipate”, “believe”, “expect”, “plan” or similar words suggesting future outcomes.

Undue reliance should not be placed on forward-looking information as actual results may differ materially from the forward-looking information.  Forward-looking information is not a guarantee of future performance.  By its nature, CP’s forward-looking information involves numerous assumptions, inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the following factors: changes in business strategies; general North American and global economic, credit and business conditions; risks in agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures; industry capacity; shifts in market demand; inflation; changes in laws and regulations, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; uncertainties of investigations, proceedings or other types of claims and litigation; labour disputes; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; effects of changes in market conditions and discount rates on the financial position of pension plans and investments, including long-term floating rate notes; and various events that could disrupt operations, including severe weather, droughts, floods, avalanches and earthquakes as well as security threats and governmental response to them, and technological changes.  The foregoing list of factors is not exhaustive.

These and other factors are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States.  Reference should be made to “Management’s Discussion and Analysis” in CP’s annual and interim reports, Annual Information Form and Form 40-F.  Readers are cautioned not to place undue reliance on forward-looking information.  Forward-looking information is based on current expectations, estimates and projections and it is possible that predictions, forecasts, projections, and other forms of forward-looking information will not be achieved by CP.  Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, whether as a result of new information, future events or otherwise.

Contacts:

Media
Ed Greenberg
Tel.:  612-849-4717
24/7 Media Pager: 855-242-3674            
email: Ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX: CP) (NYSE: CP) and the Canadian Pacific Police Association (CPPA), representing approximately 60 members of the company's police service, today announced they have reached a tentative five-year collective agreement.

"I am pleased we were able to reach agreement with our railway police, the third tentative agreement or ratified contract in a matter of weeks," said President and Chief Executive Officer, E. Hunter Harrison.

In addition to the CPPA, a tentative five-year agreement was reached with the International Brotherhood of Electrical Workers (IBEW) on November 15, while members of the United Steelworkers ratified a five-year contract on November 8.

The CPPA Memorandum of Settlement will be sent to the union membership for ratification in December.

Details of the agreement will be available following ratification.  

For further information:

Contacts:

CP                                             
Ed Greenberg                      
Tel: 612-849-4717                 
24/7 Media Pager: 855-242-3674
ed_greenberg@cpr.ca 

CPPA
Clark Rutledge, President, CPPA
Tel: 604-469-5672

The Board of Directors of Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today declared a quarterly dividend of thirty-five cents ($0.35) Canadian per share on the outstanding Common Shares.  The dividend is payable on January 28, 2013 to holders of record at the close of business on December 28, 2012, and is an “eligible” dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation.

About Canadian Pacific

Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Contacts:

Media                                                 
Ed Greenberg
Tel:  612 849-4717
24/7 Media Pager:  855-242-3674
ed_greenberg@cpr.ca

Investor Relations
Janet Weiss
Tel:  403 319-3591
investor@cpr.ca

President and CEO E. Hunter Harrison to unveil new operating plan

Canadian Pacific (TSX: CP) (NYSE: CP) will host its 2012 Investor Conference in New York on Tuesday, December 4 from 5:00 pm - 6:00pm EST and Wednesday, December 5 from 8:30 am - 2:00 pm EST.
E. Hunter Harrison, President and Chief Executive Officer, and his senior executive team will provide details on CP's multi-year strategy and efficiency and growth objectives.

The two-day program will include both presentations and interactive question and answer sessions.
On December 4 and 5, a live audio webcast of the presentations along with the December 5 slides will be available on CP's website at www.cpr.ca, 'Invest In CP' section. CP recommends logging in 15 minutes prior to the scheduled start.

The webcast and the presentation slides will also be archived for 24 months on the website.

About Canadian Pacific

Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.  

For further information:

Contacts:

Media                                                 
Ed Greenberg
Tel:  612 849-4717
24/7 Media Pager:  855-242-3674
ed_greenberg@cpr.ca

Investor Relations
Janet Weiss
Tel:  403 319-3591
investor@cpr.ca

The International Brotherhood of Electrical Workers (IBEW), System Council 11 and Canadian Pacific (TSX:CP) (NYSE:CP), announced today that they have reached a tentative five-year labour agreement covering approximately 450 employees who maintain and install railway signals and communications systems across Canada.

Details of the tentative agreement are being withheld pending ratification by the IBEW membership.

Brian Strong, senior general chairman for the IBEW, System Council 11, said: “The IBEW bargaining committee unanimously endorses this tentative agreement and is recommending the membership ratify it.”

Contacts:

CP

Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
ed_greenberg@cpr.ca

IBEW

Brian Strong
Senior General Chairman
Tel:306-421-3007

Railroad announces donation match program as part of 2012 U.S. CP Holiday Train

Canadian Pacific (TSX:CP)(NYSE:CP) announced today it will donate $1M to assist with Hurricane Sandy relief efforts. The donation will include $250,000 to the American Red Cross; $250,000 to the Mayor's Fund to Advance New York City; and $250,000 to New Jersey Governor Christie's Hurricane Sandy New Jersey Relief Fund.

"On behalf of the men and women of Canadian Pacific, we hope our railroad's contribution will help in the rebuilding effort that continues in the aftermath of this horrific storm," said E. Hunter Harrison, President and Chief Executive Officer of Canadian Pacific.  "We sincerely hope all those affected will be able to return to their normal lives as soon as possible."

In addition to the immediate monetary donations, Canadian Pacific also encourages Americans who attend free Holiday Train events across CP's U.S. rail network between November 28th and December 16th to give generously to their local food shelves.  At each event corporate and community donations made to each local food bank will be matched by CP.  The matching donation, up to $250,000, will be provided to Feeding America whose member food banks are continuing to provide food and other supplies to those affected by Hurricane Sandy. Feeding America also provides specialized disaster training for its food banks around the country, ensuring a prepared network and seamless disaster response.

"Basic food supplies are in urgent need for those impacted by Sandy and unfortunately continue to be needed in other communities across the U.S.," said Harrison.  "CP and its employees believe that dedicating this year's Holiday Train to the spirit of neighbors supporting neighbors applies directly to disasters such as the one we have just experienced.  Through our U.S. Holiday Train we can help generate much-needed awareness for continued Hurricane Sandy relief, while, at the same time, support local food pantries that are visited annually by our train of lights," added Harrison.

The U.S. Holiday Train, which launches at the end of November in Pennsylvania and New York, will visit 57 U.S. communities as it traverses westward through the U.S. Midwest.

The CP Holiday Train program is comprised of two brightly-decorated freight trains that travel across the United States and Canada raising money, food and awareness for local food shelves. Each train features entertainers who perform a free live show from a boxcar that has been converted into a stage. Since 1999, the Holiday Train program has raised close to C$6.4 million and about 2.6 million pounds of food for North American food shelves

For further information:

Media
Ed Greenberg
Tel:612-849-4717
24/7 Media Pager: 855-242-3674
ed_greenberg@cpr.ca

On November 11, at 11 a.m. local time, all Canadian Pacific trains will safely halt across its 14,700-mile network, observe two minutes of respect in silence, then sound a long train whistle in tribute to Remembrance Day and Veteran’s Day.

A special service will also be held at CP's headquarters in Calgary.

"Let those who come after see to it that their names be not forgotten," said Scott MacDonald, senior vice president operations. "We hope when CP train whistles blow across our North American network,  the sound will unite our thoughts of remembrance and remind us all that our freedom should never be taken for granted."
Canadian Pacific has been touched by the tragic impacts of World War I and World War II. More than 33,000 CP employees served in the last century's two world wars. Sadly, 1,774 employees died in battle. In the two world wars combined, 24 of 74 CP ships were lost to enemy action. In the air, CP pioneered the trans-Atlantic delivery of bombers to Britain. At home, Canadian Pacific's efforts included transporting troops, supplies, and equipment, in addition to making its shops available for the output of Valentine tanks, engines for frigates and landing craft, naval-vessel power equipment components, naval guns, anti-submarine devices, and fire-control equipment.

CP recognizes the contributions employees, both past and present, have made in times of conflict and through its more than 130 years of railroading has employed tens of thousands of men and women who bravely served Canada and the United States.

These brave men and women will be honoured at CP's Remembrance and Veteran's Day ceremony. Canadian Pacific executives, employees (including active members), Police Service officers, pensioners, and members of the public will recognize their service at a special ceremony at CP's Calgary head office, on 9th Avenue SW next to the steam locomotive.  

About Canadian Pacific

Canadian Pacific (CP:TSX)(NYSE:CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions, and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21s century transportation company built on safety, service reliability, and operational efficiency. Visit www.cpr.ca to learn more.

Editor's Note: Canadian Pacific's Remembrance and Veterans Day ceremony will begin at approximately 10:40 a.m. (Mountain Time) in front of CP Headquarters, Gulf Canada Square, 401 9th Avenue SW. 

For further information:

CP Media

Ed Greenberg

Tel.: 612-849-4717

(612) 849- 4717 (cell)

email: ed_greenberg@cpr.ca

Canadian Pacific (TSX:CP)(NYSE:CP) and the United Steel Workers (USW), Local 1976, representing approximately 800 clerical and intermodal workers, today announced that a five-year contract has been ratified with 87% of the membership voting in favour of the contract terms.

The new collective agreement begins in January 2013 and allows for wage increases of 3% in each of the next five years.  It also reflects changes that help ensure the CP pension plan is sustainable for employees, current retirees, and CP.

"The members voted overwhelmingly in favour of the contract, especially given it provides good wage and benefit improvements," said Steven Hadden, President of USW local 1976.

"CP is pleased with this positive outcome as it includes provisions for productivity and efficiency enhancements," said Peter Edwards, CP Vice President of Human Resources and Industrial Relations.

The current contract was due to expire December 31, 2012.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.
 
For further information:

Contacts:

CP Media	CP Investment Community	United Steelworkers
Ed Greenberg	Janet Weiss	Nathalie Lapointe- Staff Representative
Tel.: 612-849-4717	Tel.: 403-319-3591	Tel:  (514) 526-8280
24/7 Media Pager: 855-242-3674
email: ed_greenberg@cpr.ca	email: investor@cpr.ca	email: nlapointe@metallos.ca

 

The 2012 CP Holiday Train program has a musical line-up that is sure to entertain people of all ages. Brothers Dube, Doc Walker, and Miss Emily will perform on the Canadian Train, while Tracey Brown and The Claytones are on the U.S. Train all to raise food, money, and awareness for food banks and hunger issues. Holiday music from past and present Holiday Train entertainers can be downloaded here.

Returning to the Holiday Train this year is Brothers Dube. The Ottawa, Ont., group are a young and talented trio that have rocked their way to fame by performing with other Canadian artists such as Arcade Fire, Barenaked Ladies, and The Odds. The Brothers will perform on the train from Beaconsfield, Que., to Whitemouth, Man.

JUNO Award winning country group Doc Walker, from Portage La Prairie, Man., will join the Canadian train in Whitemouth, Man, for the rest of the tour west. In 2011 the band released a Holiday EP titled December Remember and some of the classics while touring on the train.

Performing on the Holiday Train right across Canada is Kingston, Ont., native, Miss Emily. The “Adele-esque” artist has performed at the Ottawa Bluesfest and has shared the stage with The Tragically Hip, Sam Roberts Band, and the Trews.

Tracey Brown and The Claytones will be riding the U.S. Holiday train. A Holiday Train favorite, Tracey Brown has been actively involved with the program since 2004. Over her career, Tracey has released more than 20 albums and she is a member of the Canadian Country Music Hall of Fame.

The Claytones, are a truly collaborative project with an impressive list of individual accolades. Kelly, Adam, and Anders are currently working on their debut album, which blends their unique talents into the group signature live feel. Familiar with the Holiday Train, The Claytones are sure to get the feet moving at each stop.

The 14 brightly decorated cars are covered in hundreds of thousands of LED lights. Artists perform on a modified boxcar that has been turned into a travelling stage.

Since 1999, the CP Holiday Train has become an important fundraiser for many food banks. In 14 years, the Holiday Train program has raised close to C$6.4 million and about 2.6 million pounds of food for North American food banks. Everything that is raised in a community stays in that community for local distribution.

For additional information on the musicians, photos, 2012 schedules, a route map and downloadable pictures of the two trains visit: www.cpr.ca. Supporters can also join the Holiday Train on Facebook and follow on Twitter @CPHolidaytrain

Editor’s Notes:
**For one-on-one interviews with any of the artists please contact the listed media contacts.

**Musician bios attached

**B-roll available: http://www.yousendit.com/download/TEhVWGJPYSswZ2s4RmNUQw

**High-resolution pictures available at cpr.ca

**Download songs from some of our past and present Holiday Train entertainers on cpr.ca

Media Contacts:

Canadian Holiday Train                                                          U.S. Holiday Train                              
Kevin Hrysak                                                                             Andy Cummings

(403) 836-3874 (cell)                                                                  (612) 554-0850 (cell)                                         

Kevin_Hrysak@cpr.ca                                                                Andy_Cummings@cpr.ca                                               
*CP Media Line: 1-855-242-3674 (24/7-Toll Free)

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced its third-quarter 2012 results with reported net income of $224 million, an increase of $37 million, or 20 per cent and diluted earnings per share of $1.30, an increase of $0.20, or 18 per cent, when compared to third-quarter 2011.

For the nine months of 2012 Canadian Pacific’s net income was $469 million, an increase of $120 million, or 34 per cent and diluted earnings per share of $2.72, an increase of $0.68, or 33 per cent, when compared to the same period last year.

E. Hunter Harrison, President and Chief Executive Officer said, “Momentum is building at Canadian Pacific. We have implemented new services; closed terminals and certain yard operations; and we’ve put a new leadership team in place. The team has made significant progress on operational improvements, controlling costs and on delivering results. And this is just the beginning.” 

• Q3 2012 Earnings Release and Financial Reports

THIRD-QUARTER 2012 RESULTS COMPARED WITH THIRD-QUARTER 2011

• Total revenues were $1.5 billion, an increase of $110 million or 8 per cent
• Operating expenses were $1.1 billion, an increase of $58 million or 6 per cent
• Operating income was $376 million, an increase of $52 million or 16 per cent
• Operating ratio was 74.1 per cent, an improvement of 170 basis points

Conference Call Information

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on October 24, 2012.

Conference call access

Toronto participants dial in number: (647) 427-7452
Operator assisted toll free dial in number: 1-888-231-8193
Callers should dial in 10 minutes prior to the call

Webcast

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.

A replay of the conference call will be available by phone through November 21, 2012 at 416-849-0833 or toll free 1-855-859-2056, password 35137957. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

About Canadian Pacific

Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Contacts:

Canadian Pacific (TSX:CP)(NYSE: CP) today announced the senior operations team who will lead the execution of the new service plans. Doug McFarlane is appointed Senior Vice- President U.S. Operations. Guido De Ciccio is appointed Senior Vice-President Canadian Operations. Scott MacDonald is appointed Senior Vice-President Operations (System). All three seasoned railroaders will report directly to President and CEO E. Hunter Harrison.

These appointments emphasize highly centralized planning with decentralized execution of the operating plan, driving ongoing service improvement, cost control, and efficient asset utilization.

“With the reorientation of the operating team, we are pushing decision making and execution out of the office and into the field,” said Harrison. “I expect Doug’s and Guido’s teams to get closer to the customer with Scott’s team providing them with analytics, policy, and transportation support.”

MacDonald joined CP in 2003 as Director, Locomotive Maintenance. After holding the position of Service Area Manager - Mechanical, he was promoted to General Manager, Operations followed by Assistant Vice-President roles in Operations and Transportation. In 2010, MacDonald was appointed Vice-President Transportation. Prior to his career at the railway, MacDonald spent 13 years with the Canadian Forces as an Aerospace Engineering Officer and seven years with GE Transportation Systems. He holds a Mechanical Engineering Degree with Honors and a Masters of Engineering in Thermal Power.

De Ciccio began his career with Canadian Pacific in 1976 in the Mechanical department and then spent a brief period in Marketing & Sales.  He then returned to Operations and served as Service Area Manager for Montreal & North East U.S, General Manager, Eastern and Assistant Vice-President, Eastern Operations before stepping into the role of Vice-President Canadian Operations in 2010. De Ciccio holds a Bachelor of Commerce Degree from Concordia University.

McFarlane joined CP in 1976 and his career spans from a labourer in the Mechanical department to a qualified conductor and locomotive engineer, and key executive roles in Operations, Transportation, Interline, Marketing & Sales and Labour Relations leading to his appointment as Vice-President U.S. Operations in 2010. He currently sits on the Boards of The Belt Railway Company of Chicago, Indiana Harbor Belt Railroad Company, Kansas City Terminal Railway Company and MT Properties, Inc.  He is also on the executive of the Chicago Planning Group. McFarlane has a Masters in Business Administration from Queen’s University.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Media Contact:
Ed Greenberg
612-904-6180
612-849-4717 (cell)
ed_greenberg@cpr.ca
24/7 Media Pager: 855-242-3674

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

 Canadian Pacific (TSX:CP) (NYSE:CP) today announced that Brian Grassby has been appointed Senior Vice–President and Chief Financial Officer (CFO) effective November 1, 2012.  Kathryn McQuade has informed the company she will retire from the role of CFO on that date. McQuade will remain as a Senior Advisor to Grassby until the end of her contract in May 2013 to ensure a successful transition.

“My decision to retire at this time reflects my belief that a CFO should have a long-term commitment to the company.  Brian is ready to take the reins and his deep financial expertise and continuity of leadership will drive overall financial strength and shareholder value as the company enters this significant period of change,” said McQuade.  “Brian and I have been working on transition plans and with our new CIO, Mike Redeker in place, now is an appropriate time for me to shift my role to an advisory position.  I feel confident that I am leaving Hunter with a leadership team that will serve him, CP and our shareholders very well.”

McQuade joined CP in June 2007 as Executive Vice-President and Chief Operating Officer and was appointed Executive Vice-President and CFO in September 2008. Prior to her move to CP, she spent 27 years with Norfolk Southern Corp.

“It has been a great privilege for Canadian Pacific to have benefited from Kathryn’s leadership and I thank her for her numerous contributions,” said E. Hunter Harrison, CP President and CEO. “She has arguably been one of the top CFO’s in the industry for many years and we are sad to see her go.  It is also with great confidence that we welcome Brian to his new role as he will be instrumental in moving CP’s financial performance forward.”

“CP is going through a period of exciting change,” said Grassby.  “I am extremely honoured by this opportunity and look forward to leading the finance team into the future.  Kathryn and I have worked together for the last five years. I want to thank her for all her wise counsel and advice.  I wish her all the best.”

As CP’s Senior Vice-President and CFO, Grassby’s responsibilities will continue to include financial planning, reporting and accounting systems as well as pension, treasury, tax and supply services. Under Grassby’s leadership, in 2010 CP successfully completed the transition from Canadian to U.S. GAAP.  Prior to joining CP as Vice-President and Comptroller in 2001, Grassby spent more than 14 years in finance at a large Canadian electronics firm. He is a graduate in Commerce from McGill University and is a Chartered Accountant.

About Canadian Pacific

Canadian Pacific (TSX: CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Contacts:

Media
Breanne Feigel
Tel.: 403-319-3932
403-589-6949 (cell)
24/7 Media Pager: 855-242-3674            
email: breanne_feigel@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Calgary, AB - Canadian Pacific is proud to announce that the 2012 Holiday Train program will be riding the rails to raise money and awareness about hunger issues in Canada and the US, one stop at a time. Again this year, the two trains will visit over 150 communities - beginning their journeys in Beaconsfield, QC, and Scranton, PA. The 2012 Holiday Train schedule is now available on cpr.ca and Facebook.

For additional information, photos, a route map and downloadable pictures of the two trains visit: www.cpr.ca. Supporters can also join the Holiday Train on Facebook and follow the two trains on Twitter @CPHolidaytrain

(403) 836-3874 (cell)                                                           (612) 554-0850 (cell)                                     Kevin_hrysak@cpr.ca                                                             Andy_cummings@cpr.ca                                 

*CP Media Line: 1-855-242-3674 (24/7-Toll Free) 

Canadian Pacific (TSX: CP) (NYSE: CP) will release its third-quarter financial and operating results at 7:30 a.m. Eastern time (5:30 a.m. Mountain time) on Wednesday, October 24, 2012.

CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on October 24, 2012.

Conference call access

Toronto participants dial in number: (647) 427-7452 
Operator assisted toll free dial in number: 1-888-231-8193  
Callers should dial in 10 minutes prior to the call.  

Webcast

For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.   

A replay of the conference call will be available by phone through November 21, 2012 at

416-849-0833 or toll free 1-855-859-2056, password 35137957. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.

About Canadian Pacific

Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Contacts:

Media                                                   Investor Relations
Nicole Sasaki                                          Janet Weiss
Tel:  403 835-9005                              Tel:  403 319-3591
24/7 Media Pager:  855-242-3674        investor@cpr.ca
nicole_sasaki@cpr.ca  

Canadian Pacific Railway (TSX: CP) (NYSE: CP) today announced that Mike Franczak, Executive Vice President and Chief Operations Officer, has resigned from Canadian Pacific, effective today.  

Mike joined CP in 1987 and has since advanced through a series of operating positions of increasing accountability and scope across CP’s network.

“I wish to congratulate Mike on his distinguished career and thank him for his 25 years of dedication to CP and its customers,” said CEO E. Hunter Harrison. “Mike served the company well in all areas for which he had responsibility. We wish him success in his future endeavours.”

“I am grateful for the experience and opportunities that CP has afforded me over my long career here,” said Franczak. “I look forward to watching the company’s successful progress long into the future.”

The position of Chief Operations Officer will not be replaced at this time.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Contacts:

Media
Ed Greenberg
Tel.: 612-904-6180
        612-849-4717  (cell)
24/7 Media Pager: 855-242-3674            
email: ed_greenberg@cpr.ca

Investment Community
Janet Weiss
Tel.: 403-319-3591
email: investor@cpr.ca

Canadian Pacific (TSX:CP)(NYSE: CP) and the United Steelworkers (USW), Local 1976, have announced a tentative contract agreement.

The USW represents 800 clerical and intermodal employees at CP. The current contract was due to expire December 31, 2012.

The ratification process will take place over the next few weeks. Details of the contract will be disclosed following ratification.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Media Contact

Ed Greenberg      
612-904-6180
612-840-4717 (cell)
ed_greenberg@cpr.ca
24/7 Media Pager: 855-242-3674

Canadian Pacific (TSX:CP)(NYSE: CP) today announced that Michael Redeker has been appointed Vice President and Chief Information Officer (CIO) for the railway, effective October 15, 2012. Redeker was most recently Chief Information Officer at ATB Financial.

As CIO, Redeker will be responsible for re-defining CP’s future strategic information technology (IT) roadmap, improving asset utilization, market growth, shipment management, and employee productivity. 

He will report directly to President and CEO E. Hunter Harrison.

“I welcome Mike to our leadership team and look forward to working with him on delivering strategic IT activities that will translate into operational efficiencies,” said Harrison. “Our new CIO’s extensive experience will fit well with moving CP into the future.”

"CP is an iconic brand and I am extremely excited by the change underway in the organization," said Redeker."I look forward to taking on this challenge and intend to focus on opportunities that will improve how the railway operates and, ultimately, how we serve our customers and deliver long-term shareholder value."

With over five years at ATB, Redeker completed an end to end technology upgrade and replacement program. He also spent 11-years at IBM Canada, where he focused on delivering quality information technology services within the financial services industry. Redeker is a graduate from Northern Alberta Institute of Technology.

About Canadian Pacific

Canadian Pacific (TSX:CP)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

Media Contact:

Ed Greenberg
612-904-6180
612-840-4717 (cell)
ed_greenberg@cpr.ca
24/7 Media Pager: 855-242-3674