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31 March 2005

CPR First-Quarter 2005 Results:  Conference Call with Analysts and Media April 28

Canadian Pacific Railway (TSX/NYSE: CP) will release its financial and operating results for the first quarter of 2005 at 7:30 a.m. Eastern time (5:30 a.m. Mountain time) on 28 Apr 2005.
 
CPR will discuss its results with analysts and the media in a conference call beginning at 1 p.m. Eastern time (11 a.m. Mountain time) on 28 Apr 2005. There will be a live audio Webcast of the call.
 
CONFERENCE CALL ACCESS
 
Dial-in numbers:  1-800-814-4857 or 416-640-4127. Callers should dial in 10 minutes prior to the call. A replay of the conference call will be available by phone through 5 May 2005, at 1-877-289-8525 or 416-640-1917, pass code 21119488 followed by the number sign.
 
Webcast:  live via CPR's website at www.cpr.ca. The Webcast will be archived through 27 May 2005.

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