25 April 2012

Canadian Pacific Customers Continue to Voice Support for CP and its Management Team

Calgary Alberta - Canadian Pacific Railway Limited today announced that, as the Company continues to aggressively and successfully execute on the Multi-Year Plan, additional customers have shared their support for CP and the Company's management team. CP's Multi-Year Plan is producing results and providing enhanced service levels for all CP customers.
 
CP's unparalleled service offering and strong, established, customer relationships, are the backbone of the Company's growth targets over the Multi-Year Plan period, and will allow the Company to achieve its operating ratio targets of 70 to 72 percent for 2014, and 68.5 to 70.5 percent for 2016. CP's dedication to service and stronger, more resilient, rail network, has not gone unnoticed by its customers, who continue to voice support for the CP management team:
 
Doug Munro - President, Maritime-Ontario Freight Lines Limited:  "Maritime-Ontario Freight Lines has been successful in providing value-added services to meet the sophisticated needs of our customers. CP's long-term partnership with us provides focused and efficient supply chain services allowing MO to provide exemplary service to our customers. CP has been instrumental in helping us achieve our aggressive growth plans. We would not have achieved this progress without such a committed team at CP understanding our complex needs and business processes."
 
Peter H. Masterman - Vice President, Global Purchasing & Logistics, NOVA Chemicals:  "NOVA Chemicals is committed to Responsible Care and the safe and secure transport of our products. CP's train safety performance is well recognized in the industry. We are pleased to work collaboratively with CP as a rail transportation provider. Their willingness to develop a thorough understanding of our business and transportation needs helps us meet our commitments to our customers."
 
Lorne Friberg - President and Chief Executive Officer, Sultran, Ltd.:  "Sultran has been working very closely with CP over the last six months to advance the efficient and timely delivery of Sultran's products using CP's services. We are very impressed by the attention and diligence shown by CP management in dealing with our customers' product, which is vital to the economy of Alberta and British Columbia. CP has demonstrated that it does not take Sultran's business for granted. We appreciate our relationship with CP and believe that its current business plan to improve service will bring benefits to our customers. We look forward to our continued partnership with CP."
 
Myron Jepson - General Manager, James Valley Grain LLC:  "James Valley Grain is a major shipper of whole grains within the Midwest of the United States to both domestic and global markets. Rail transportation is a key component in our supply chain to our customers and we are fortunate to have real choices in the rail service provider that we use. Canadian Pacific has a long history as our rail service provider since the inception of this company. Without hesitation I would say the level of service and condition of the cars in the current crop year is the best we have ever experienced from CP or any other railway for the matter. We choose CP as a key partner for our business and have committed ourselves to using CP for the vast majority of our grain movements for the next year."
 
CP recommends that shareholders vote FOR the Company's continued forward momentum that is being carried out by the right management team under the supervision of the right Board. To do so, vote FOR the election of the director nominees proposed by CP on the WHITE universal proxy. In addition, shareholders are encouraged to visit www.cpOnTrack.com to access the Company's Management Proxy Circular and for more information about CP, the CP management team, and its value-generating Multi-Year Plan.