TransCanada to Present at Toronto Society of Financial Analysts Luncheon

CALGARY, Alberta – October 31, 2002 – (TSX: TRP) (NYSE: TRP) – Hal Kvisle, chief executive officer; and Russ Girling, executive vice-president and chief financial officer, TransCanada PipeLines Limited, will present to the Toronto Society of Financial Analysts (TSFA) luncheon on November 5, 2002. The presentation is expected to last 45 minutes and will include information concerning TransCanada’s performance, strategy and outlook.

A live audio and slide web cast of the presentation will be available on TransCanada’s web site (www.transcanada.com) beginning November 5 at approximately 12:40 p.m. (Eastern)/10:40 a.m. (Mountain). The web cast will be archived and available for replay.

TransCanada is a leading North American energy company. It is focused on natural gas transmission and power services with employees who are expert in these businesses. The company’s network of approximately 38,000 kilometres 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, manages or is constructing facilities for approximately 2,250 megawatts of power -- an amount of power that can meet the needs of more than two million average households. The company’s common shares trade under the symbol TRP on the Toronto and New York stock exchanges. Visit us on the internet at www.transcanada.com for more information.

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For further information, please contact:

Media Inquiries:
Glenn Herchak / Kurt Kadatz
(403) 920-7877

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

TSFA registration information:
Shenaz Gilani (416)366-5755 ext. 21