Canadian Pacific Railway Limited amends normal course issuer bid

    CALGARY, April 27 /CNW/ - Canadian Pacific Railway Limited (TSX/NYSE:  CP)
has filed with the Toronto Stock Exchange (TSX) an amendment to its previously
filed notice of its intention to make normal course issuer bid purchases in
order to increase the number of common shares it may purchase. The increase
allows CP to purchase up to 15,250,010 of its common shares during the
12-month period ending March 27, 2008. This represents approximately 9.8% of
the public float of common shares outstanding on March 15, 2007, the date of
CP's previously filed notice.
    Purchases may be made through the facilities of the TSX or the New York
Stock Exchange (NYSE) or such other means permitted by law. The ability to
make certain purchases through the NYSE is subject to CP obtaining approval
from Canadian securities regulatory authorities.

    Canadian Pacific, through the ingenuity of its employees located across
Canada and in the United States, remains committed to being the safest, and
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 900 communities where we
operate. Our combined ingenuity makes CP a better place to work, rail a better
way to ship, and North America a better place to live. Come and visit us at 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: Leslie Pidcock, Tel.: (403) 319-6878,
e-mail:; Investment Community: Janet Weiss, Assistant
Vice-President Investor Relations, Tel.: (403) 319-3591, e-mail:

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