2 July 2004 CPR Moving IPSCO Pipe to Major Gas Pipeline Project in United States Canadian Pacific Railway (TSX/NYSE: CP) is moving up to 1,800 loads of large diameter transmission-line pipe from IPSCO Inc. in Regina to five destinations in Colorado and Kansas. IPSCO is supplying pipe for a 380-mile Cheyenne Plains natural gas pipeline between Cheyenne, Wyoming and Greensburg, Kansas. The project is considered the largest Grade X-80 pipeline ever constructed in North America.   "Canadian Pacific Railway is extremely pleased we were successful at providing IPSCO the support it needed to ensure it can get product to the various U.S. destinations from its Regina mill. This is another example of how rail provides business solutions," said Ray Foot, CPR Vice President of Marketing and Sales Merchandise. "It is imperative to be agile and responsive in this competitive marketplace. We were able to take on this extensive project, because of our ongoing investments in track maintenance, new locomotives and freight cars."   The project consists of transporting 36-inch spiral pipe representing about 143,000 tons. The rail delivery, which is scheduled to be completed by the end of August, 2004, has consisted of up to 105 flat cars a week traveling in stages to the following destinations: Carr, Colorado; Fort Morgan, Colorado; Burlington, Colorado; Goodland, Kansas; and Scott City, Kansas. The gas pipeline - being built by a subsidiary of Houston-based El Paso Corporation - will connect gas fields in the Rocky Mountains to markets in the mid-continent by early 2005.