<div><b>Page Content:</b> <span>
<p><font face="Lucida Sans Unicode">Canadian Pacific (TSX:CP)(NYSE:CP) today commented on the federal government's Rail Freight Service Review (RFSR) amendment to the Canadian Transportation Act. </font></p>
<p><font face="Lucida Sans Unicode">Throughout the RSR process CP has maintained there is no need for additional regulation between railways and shippers as it is the company's belief that commercial undertakings, coupled with a stable regulatory regime, remains the best approach to promote supply chain coordination and investment. </font></p>
<p><font face="Lucida Sans Unicode">"The proposed legislation contains key elements of the Dinning Report," said CP President and CEO, E. Hunter Harrison.* "We firmly agree that improvement in Canada's world class rail supply chain will best be achieved through offsetting commercial undertakings, in particular, better traffic forecasting and more certainty on traffic volumes." </font></p>
<p><font face="Lucida Sans Unicode">"CP has been implementing various commercial agreements that were included in the Dinning Report's recommendations, including a service agreement template and a commercial dispute resolution process," said Harrison. "As such, we are confident strong commercial relationships will continue to emerge with little need for the processes described in the legislation." </font></p>
<p><font face="Lucida Sans Unicode">"Canada is fortunate to already have the best rail system in the world from which to build upon," said Harrison. "CP continues to make across-the-board service improvements where customers are benefiting from more consistent, safe and efficient service." </font></p>
<h3>About Canadian Pacific </h3>
<p><font face="Lucida Sans Unicode">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.*</font><font face="Lucida Sans Unicode">*</font></p>
<h3>Contacts:</h3>
<p><font face="Lucida Sans Unicode"><strong>Media</strong> <br>Ed Greenberg<br>Tel:612-849-4717<br>24/7 Media Pager: 855-242-3674<br><a href="mailto:Ed_greenberg@cpr.ca">Ed_greenberg@cpr.ca</a></font></p>
<p><font face="Lucida Sans Unicode"><strong>Investment Community</strong> <br>Janet Weiss<br>Tel: 403-319-3591<br><a href="mailto:investor@cpr.ca">investor@cpr.ca</a><br></font></p></span></div>
<div><b>News Release Date:</b> 12/11/2012 12:00 AM</div>
<div><b>Location:</b> Calgary, Alberta</div>
<div><b>News Type:</b> Investors</div>
<div><b>Is Featured:</b> Yes</div>
More...
<p><font face="Lucida Sans Unicode">Canadian Pacific (TSX:CP)(NYSE:CP) today commented on the federal government's Rail Freight Service Review (RFSR) amendment to the Canadian Transportation Act. </font></p>
<p><font face="Lucida Sans Unicode">Throughout the RSR process CP has maintained there is no need for additional regulation between railways and shippers as it is the company's belief that commercial undertakings, coupled with a stable regulatory regime, remains the best approach to promote supply chain coordination and investment. </font></p>
<p><font face="Lucida Sans Unicode">"The proposed legislation contains key elements of the Dinning Report," said CP President and CEO, E. Hunter Harrison.* "We firmly agree that improvement in Canada's world class rail supply chain will best be achieved through offsetting commercial undertakings, in particular, better traffic forecasting and more certainty on traffic volumes." </font></p>
<p><font face="Lucida Sans Unicode">"CP has been implementing various commercial agreements that were included in the Dinning Report's recommendations, including a service agreement template and a commercial dispute resolution process," said Harrison. "As such, we are confident strong commercial relationships will continue to emerge with little need for the processes described in the legislation." </font></p>
<p><font face="Lucida Sans Unicode">"Canada is fortunate to already have the best rail system in the world from which to build upon," said Harrison. "CP continues to make across-the-board service improvements where customers are benefiting from more consistent, safe and efficient service." </font></p>
<h3>About Canadian Pacific </h3>
<p><font face="Lucida Sans Unicode">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.*</font><font face="Lucida Sans Unicode">*</font></p>
<h3>Contacts:</h3>
<p><font face="Lucida Sans Unicode"><strong>Media</strong> <br>Ed Greenberg<br>Tel:612-849-4717<br>24/7 Media Pager: 855-242-3674<br><a href="mailto:Ed_greenberg@cpr.ca">Ed_greenberg@cpr.ca</a></font></p>
<p><font face="Lucida Sans Unicode"><strong>Investment Community</strong> <br>Janet Weiss<br>Tel: 403-319-3591<br><a href="mailto:investor@cpr.ca">investor@cpr.ca</a><br></font></p></span></div>
<div><b>News Release Date:</b> 12/11/2012 12:00 AM</div>
<div><b>Location:</b> Calgary, Alberta</div>
<div><b>News Type:</b> Investors</div>
<div><b>Is Featured:</b> Yes</div>
More...
