Canadian Pacific Files Preliminary Base Shelf Prospectus

Canadian Pacific Railway

today announced that it has filed with the securities commission in each of the provinces and territories of Canada a Preliminary Base Shelf Prospectus and a corresponding registration statement with the United States Securities and Exchange Commission.  When made final or effective, these filings will allow Canadian Pacific to issue or sell up to $2.5 billion of Common Shares, First Preferred Shares, Second Preferred Shares, Subscription Receipts, Warrants and Units in tranches as required over the next 25 months in Canada and the United States. This filing is a renewal of Canadian Pacific's existing base shelf prospectus and was made to maintain financial flexibility.  Canadian Pacific has no immediate intentions to undertake an offering.