TransCanada 2006 Annual Disclosure Documents Now Available

CALGARY, Alberta – February 27, 2007 – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today announced that its 2006 Annual Report to shareholders, which contains the Consolidated Financial Statements and accompanying notes for the year ended December 31, 2006, as well as the related Management’s Discussion and Analysis, is now available online at http://www.transcanada.com/.  TransCanada’s Notice of Annual and Special Meeting of Common Shareholders and Management Proxy Circular, Annual Information Form, Form 40-F, as well as proposed amendments to the company’s Shareholder Rights Plan, are also available on the TransCanada website.

All documents have been filed with the relevant securities regulators (other than the form 40-F) on the Canadian Securities Administrators’ website at http://www.sedar.com/; form 40-F is posted on the EDGAR section of the U.S. Securities and Exchange Commission’s website at http://www.sec.gov/.  Copies are available free of charge, upon request at the Investor Centre on http://www.transcanada.com/.

Summary year-end disclosure was provided on January 30, 2007 in the fourth quarter and year-end news release.

The Notice of Annual and Special Meeting and Management Proxy Circular will be mailed to TransCanada’s common shareholders beginning in mid-March. TransCanada’s Annual and Special Meeting will be held at 10:00 a.m. on April 27, 2007 at the Round Up Centre, Calgary, Alberta. 

TransCanada’s wholly owned subsidiary, TransCanada PipeLines Limited (TCPL), intends to file its annual disclosure documents with securities regulators in Canada and the United States and post its documents online at http://www.transcanada.com/ on February 28, 2007.  The print version of TCPL’s Consolidated Financial Statements and MD&A will be mailed to holders of preferred shares in mid-March.

With more than 50 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas pipelines, power generation, gas storage facilities, and projects related to oil pipelines and LNG facilities. TransCanada’s network of wholly owned pipelines extends more than 59,000 kilometres (36,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent’s largest providers of gas storage and related services with approximately 360 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, approximately 7,700 megawatts of power generation in Canada and the United States. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

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For further information, please contact:

Media Inquiries:

TransCanada
Shela Shapiro
(403) 920-7859 or Toll Free (800) 608-7859

Investor & Analyst Inquiries:

David Moneta/Myles Dougan
(403) 920-7911