Canadian Pacific to hold conference call to discuss the transition from
Canadian GAAP to U.S. GAAP

CALGARY, March 22 /CNW/ - Canadian Pacific Railway Limited (TSX/NYSE: CP) for informational purposes intends to file U.S. GAAP consolidated financial statements for 2009 on Wednesday, March 24, 2010. U.S. GAAP consolidated financial statements will include CP's consolidated balance sheets at December 31, 2009 and 2008 and statements of consolidated income, comprehensive income, changes in shareholders' equity, and cash flows for 2009, 2008 and 2007. Our Management Discussion and Analysis based on U.S. GAAP financial information will also be included.

Upon filing, CP's U.S. GAAP documents will be available on SEDAR at www.sedar.com in Canada, on EDGAR at www.sec.gov in the United States and on our website at www.cpr.ca. In addition, supplementary historical quarterly information will be posted on CP's website under the investors, financial reporting section.

CP will hold a conference call to discuss its transition from Canadian to U.S. GAAP at 16:00 Eastern time (14:00 Mountain time) on Thursday, March 25, 2010.

CONFERENCE CALL ACCESS

Toronto participants dial in number: 647-427-7450

Toll free dial in number 1-888-231-8191

Callers should dial in 10 minutes prior to the call.

WEBCAST

For those with Internet access we encourage you to listen via CP's website. To access the webcast and the presentation material, click on Investors.

A replay of the conference call will be available by phone through April 22nd, 2010 at 1-416-849-0833 or toll free 1-800-642-1687, passcode 63608532.

About Canadian Pacific:

Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, remains committed to being the safest, most fluid railway in North America. Our people are the key to delivering innovative transportation solutions to our customers and to ensuring the safe operation of our trains through the more than 1100 communities where we operate.

For further information: Contacts: Media: Mike LoVecchio, Senior Manager - Media Relations, Canadian Pacific, Tel.: [phone], 24/7 Media Pager [phone], e-mail: [email protected]; Investment Community: Janet Weiss, Assistant Vice President-Investor Relations, Canadian Pacific, Tel.: [phone], e-mail: [email protected]