TransCanada Declares Quarterly Dividends

CALGARY, Alberta – July 29, 2005 - (TSX: TRP) (NYSE: TRP) – As announced today in TransCanada's Second Quarter 2005 Report to Shareholders, the Board of Directors of TransCanada Corporation declared a quarterly dividend of $0.305 per share on the company’s outstanding common shares for the quarter ending September 30, 2005. It is payable on October 31, 2005 to shareholders of record at the close of business on September 30, 2005.

The Board of Directors of TransCanada PipeLines Limited declared the following regular dividends on TransCanada PipeLines Limited’s preferred shares:

  • Dividend Number 28 was declared on the outstanding Cumulative Redeemable First Preferred Shares Series U in the amount of $0.70 per share for the period ending October 31, 2005. The dividend is payable on October 31, 2005, to shareholders of record at the close of business on September 30, 2005.
  • Dividend Number 27 was declared on the outstanding Cumulative Redeemable First Preferred Shares Series Y in the amount of $0.70 per share for the period ending November 1, 2005. The dividend is payable on November 1, 2005 to shareholders of record at the close of business on September 30, 2005. 

TransCanada is a leading North American energy company. TransCanada is focused on natural gas transmission and power services with employees who are expert in these businesses. TransCanada’s network of approximately 41,000 kilometres (25,600 miles) of pipeline transports the majority of Western Canada’s natural gas production to the fastest growing markets in Canada and the United States. TransCanada owns, controls or is constructing approximately 5,700 megawatts of power generation – an amount of power that can meet the needs of about 5.7 million average households. TransCanada announced in May that it plans to sell its interest in TransCanada Power, L.P., which owns a 744 megawatt power portfolio. The Company’s common shares trade under the symbol TRP on the Toronto and New York stock exchanges.

Note: All financial figures are in Canadian dollars unless noted otherwise.

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For further information, please contact:

Media Inquiries:

TransCanada
Kurt Kadatz / Hejdi Feick
(403) 920-7859 or Toll Free (800) 608-7859

Investor & Analyst Inquiries:
David Moneta
(403) 920-7911