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<div><b>Contact:</b> Danelle Wettstein</div>
<div><b>Page Content:</b> <p>Canadian Pacific (TSX:CP)(NYSE:CP) today announced it will further develop its long train strategy in 2012.* As part of CP’s previously announced 2011 capital expansion program, the Company’s installation of new and extended sidings in several key regions throughout its network will allow CP to further benefit from current double digit increases in train lengths. </p>
<p>By the end of 2013, the railway is targeting an 11 per cent increase in transcontinental train lengths by adding growing volumes into existing trains. CP currently operates intermodal trains up to 12,000 feet long, an increase of 40 per cent since 2008. The benefits of long trains include reduced fuel consumption, capital maintenance and labour savings, and improved safety and efficiency.* Long trains also offer important benefits to CP’s customers, as they are adaptive to traffic flows and service oriented.</p>
<p>“Long trains are the cornerstone of CP’s operating strategy,” said CP EVP Operations Mike Franczak.* “By increasing train lengths and realizing strategic long siding investments, CP is maximizing productivity and service, while reducing labour costs and increasing fuel efficiency”</p>
<p>Mr. Franczak added, “Longer trains allow CP to respond to volume variability without adding extra train starts or leaving business behind, thus improving service for our customers.”</p>
<p>Similar capital investments in the western end of CP’s network are enabling potash train sizes to increase by 20 per cent and unit coal train sizes to increase by 18 per cent. </p>
<p>CP has been at the forefront of designing and running long trains using locotrol technology for remote locomotive operations and TrAM, its state-of-the art train area marshaling software. TrAM’s advanced technology ensures that in-train forces are kept within safe standards, reducing wear on track infrastructure.* </p>
<p><strong>Note on forward-looking information</strong><br>This news release contains certain forward-looking statements relating but not limited to our operations, anticipated financial performance and business prospects.* Undue reliance should not be placed on forward-looking information as actual results may differ materially. </p>
<p>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, 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.* 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.</p>
<p>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.</p>
<p><strong>About Canadian Pacific</strong><br>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 cpr.ca and see how Canadian Pacific is Driving the Digital Railway.</p>
<p><strong>Contacts:</strong><br>Media************** ******************************************** *Investment Community************************** <br>Ed Greenberg**************************************************Janet Weiss<br>Tel:612-849-4717**************************************** Tel: 403-319-3591<br>24/7 Media Pager:* 855-242-3674<br><a href="mailto:Ed_greenberg@cpr.ca">Ed_greenberg@cpr.ca</a> *********************************** <a href="mailto:investor@cpr.ca">investor@cpr.ca</a>* </p></div>
<div><b>News Release Date:</b> 12/5/2011 12:00 AM</div>
<div><b>Location:</b> Calgary, Alberta</div>
<div><b>News Type:</b> Investors</div>
<div><b>Is Featured:</b> No</div>


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