Canadian Pacific Comments on Customer Concerns about Hunter Harrison

Canadian Pacific Railway Limited

today issued the following statement in response to media reports that CP customers have requested additions to contracts of change-in-management provisions to protect customers against what customers believe will be the disruption to their businesses if Hunter Harrison becomes Chief Executive Officer of CP: "A number of CP customers have expressed concerns about the risk and disruption that would occur should Hunter Harrison be installed as CEO of CP, as proposed by Pershing Square. While the Company does not comment on the details of individual customer contracts, CP confirms that it is not including change-in-management clauses in customer contracts. The CP management team is dedicated to offering excellent customer service and is successfully executing on the Company's Multi-Year Plan, which is producing record operating metrics."