Canadian Pacific disclosure practices recognized



    CALGARY, Aug. 25 /CNW/ - Canadian Pacific Railway Limited (TSX/NYSE:   CP)
announced today it has been awarded the Governance Gavel Award for Director
Disclosure by the Canadian Coalition for Good Governance (CCGG). The award
recognizes excellence in shareholder communications, particularly through the
annual proxy circular. A company's disclosure is judged against best practices
as defined by the CCGG.
    "This award recognizes our ongoing efforts to ensure the timeliness,
clarity and transparency of communications with our shareholders," said
Kathryn McQuade, CP's Chief Financial Officer. "At Canadian Pacific, we
continually strive to improve our governance and disclosure procedures through
review and comparison with best practices. We are pleased that the CCGG has
selected CP to receive the award for 2009."
    Representing the interests of institutional investors, the Canadian
Coalition for Good Governance promotes good governance practices in Canadian
public companies and the improvement of the regulatory environment to best
align the interests of boards and management with those of their shareholders,
and to promote the efficiency and effectiveness of the Canadian capital
markets.
    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. Come and visit us at www.cpr.ca to see how we can put our ingenuity
to work for you. Canadian Pacific is proud to be the official rail freight
services provider for the Vancouver 2010 Olympic and Paralympic Winter Games.





For further information:

For further information: Media: Mike LoVecchio, Tel.: (778) 772-9636,
email: mike_lovecchio@cpr.ca; Investment Community: Janet Weiss, Assistant
Vice-President, Investor Relations, Tel.: (403) 319-3591, email:
investor@cpr.ca


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