Canadian Pacific Announces a $350 Million Debt Offering

Canadian Pacific Railway Limited

announced today that its wholly owned subsidiary, Canadian Pacific Railway Company, is issuing US$350 million of 4.45% Notes due March 15, 2023. The transaction is expected to close September 23, 2010. The debt offering is being made in the United States under the base shelf prospectus dated June 26, 2009 which allowed for offerings of up to US$1.5 billion of debt securities.