14 March 2012

Canadian Pacific Directors Tony L. Ingram and Edmond L. Harris Share Board Perspective in BMO Conference

Calgary Alberta - Tony L. Ingram and Edmond L. Harris, Directors of Canadian Pacific, and members of the Company's Safety, Operations, and Environment Committee, participated in a conference call hosted by BMO Capital Markets on 13 Mar 2012. Among other topics discussed on the call, Messer's Ingram and Harris discussed CP's unique assets, its Multi-Year Plan, and management's progress in executing against the Plan.
 
Mr. Harris noted, "Fred Green and his management team are successfully and aggressively executing against CP's Multi-Year Plan, which the Board has reviewed and fully endorses. The Multi-Year Plan has been specifically designed to generate the best possible operational and financial results from CP's unique assets and circumstances. To date, the disciplined implementation of the Multi-Year Plan has resulted in record-breaking improvements in key operating metrics over the company's 3-year averages, including terminal dwell, car miles per car day, train speed, and active cars online. These meaningful achievements, which are a leading indicator of both customer satisfaction and financial results, will translate into enhanced value for shareholders."
 
Mr. Ingram noted, "CP's Board of Directors unanimously supports Fred Green and his strong, experienced management team. As best practices are established throughout the organization, we're seeing the transformation of the railroad reflected in the improvement to CP's operating metrics year to date. Ed and I have had first-hand experience of implementing operational turnarounds several times in our careers, and we agree that what we're seeing at CP bears the hallmarks of a railroad beginning to fire on all cylinders. As members of the Safety, Operations, and Environment Committee, we will continue to closely monitor the Plan's successful execution and hold management fully accountable for reaching an Operating Ratio of 70 to 72 percent for 2014 and delivering further improvements thereafter."
 
A full replay of the call is available on CP's website at www.cpr.ca. To access the replay, click on the "Invest In CP" tab and go to "Executive & Board Updates".