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<div><b>Page Content:</b> <p><span>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.</span></p>
<p><span></span><span>“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. </span></p>
<p><span></span><span>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.”</span></p>
<p><span></span><span>The Memorandum of Settlement will be sent to the union membership next week, with results from the vote expected in mid-January, 2013.<span>* </span></span></p>
<p><span><span></span></span><span>Details of the tentative agreement will be released following ratification.</span></p>
<h3><span></span><span>Contacts:<span>****************************************************** </span></span></h3>
<p><b><span>CP</span></b><span><span>******************************************************************************</span><span>******</span><b>TCRC-MWED<br></b></span><span>Ed Greenberg<span>***********************************************************</span><span>*********</span>Bill Brehl<span>******************************* <br></span></span><span>Tel: 612-849-4717<span>**********************************************************</span>Tel: 613-733-4456<br><a href=""></span><span></a><span>******************************************************* <a href=""></span></a></span></p>
<div><b>News Release Date:</b> 12/11/2012 9:00 AM</div>
<div><b>Location:</b> Calgary, Alberta</div>
<div><b>News Type:</b> Investors</div>
<div><b>Is Featured:</b> Yes</div>

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