TransCanada Fourth Quarter 2005 Teleconference and Webcast Advisory

CALGARY, Alberta – January 17, 2006 – (TSX: TRP) (NYSE: TRP) – TransCanada Corporation will release its fourth quarter 2005 financial results early morning Tuesday, January 31, 2006.

Analysts, members of the media and other interested parties are invited to participate in a teleconference and webcast January 31 at 11 a.m. (Mountain) / 1 p.m. (Eastern) to discuss the fourth quarter 2005 financial results, and general developments and issues concerning the company.

To participate, please call 1-866-226-1799 or 416-340-2220 (Toronto area). Please dial in 10 minutes prior to the start of the call. No passcode is required. A live webcast of the teleconference will also be available on TransCanada’s website (www.transcanada.com).

The conference will begin with a short address by members of TransCanada’s executive management, followed by a question and answer period for investment analysts. A question and answer period for members of the media will immediately follow.

A replay of the teleconference will be available two hours after the conclusion of the call until midnight (Eastern) February 7, 2006. Please call 1-800-408-3053 or 416-695-5800 (Toronto area) and enter passcode 3173826. The webcast will be archived and available for replay on www.transcanada.com.

TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure. TransCanada’s network of approximately 41,000 kilometres (25,600 miles) of pipeline transports the majority of Western Canada’s natural gas production to key Canadian and U.S. markets. A growing independent power producer, TransCanada owns, or has interests in, approximately 6,700 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
Kurt Kadatz/Jennifer Varey
403. 920.7859 or Toll Free 800.608.7859

Investor & Analyst Inquiries:

David Moneta/Myles Dougan
403.920.7911