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<div><b>Page Content:</b> <p>Canadian Pacific Railway (TSX: CP) (NYSE: CP) today announced Gary F. Colter was elected Chairman of the Company’s Board of Directors. Colter replaces Paul G. Haggis, who concluded his term as Chairman but will continue to serve as a director and joins the Audit and Finance Committees.* Both Colter and Haggis have served on the CP Board for two years.* </p>
<p>“It has been my pleasure to have served as Chairman of the new CP,” said Haggis. “I’m delighted that Gary has been elected chairman, and I know he will continue to provide excellent leadership for the important work that CP is doing.”*** </p>
<p>Colter is the President of CRS Inc., a corporate strategy and restructuring firm, which he founded in 2002. He was previously with KPMG Canada, for 34 years. He led their Canadian and global financial advisory services practices and retired as vice chairman in 2002. In addition to CP, Colter is a Director of CIBC, Owens-Illinois, Core-Mark and Revera. He is a graduate of the Ivey Business School of the University of Western Ontario, and is a Fellow Chartered Accountant.</p>
<p>“I am very proud and honoured to be elected by the Board as Chairman of CP, and on behalf of my fellow board members, I would like to thank Paul for his strong leadership,” said Colter. “The CP Board remains committed to working with management and the Canadian Pacific team and all stakeholders, as the company continues to move forward with its exciting transformational journey.” </p>
<h3>About Canadian Pacific</h3>
<p>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.</p>
<p><strong>Media</strong> <br>Ed Greenberg<br>Tel.:* 612-849-4717<br>24/7 Media Pager: 855-242-3674************ <br>email: <a href="mailto:Ed_greenberg@cpr.ca">Ed_greenberg@cpr.ca</a></p>
<p><strong>Investment Community<br></strong>Nadeem Velani<br>Tel.: 403-319-3591<br>email: <a href="mailto:investor@cpr.ca">investor@cpr.ca</a><br></p></div>
<div><b>News Release Date:</b> 5/1/2014 12:00 AM</div>
<div><b>Location:</b> Calgary, AB</div>
<div><b>News Type:</b> Investors</div>
<div><b>Is Featured:</b> Yes</div>


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