TransCanada Third Quarter 2004 Teleconference and Webcast Advisory.

CALGARY, Alberta - October 19, 2004 – (TSX: TRP) (NYSE: TRP) – TransCanada Corporation will release its third quarter 2004 financial results during the morning of Tuesday, October 26, 2004.

Analysts, members of the media and other interested parties are invited to participate in a teleconference and audio webcast October 26 at 11 a.m. (Mountain) / 1 p.m. (Eastern) to discuss the third quarter 2004 financial results, and general developments and issues concerning the company.

To participate, please call 1-877-211-7911 or 416-405-9310 (Toronto area). Please dial in 10 minutes prior to the start of the call. No passcode is required. A live audio 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 time November 2, 2004. Please call 1-800-408-3053 or 416-695-5800 (Toronto area) and enter passcode 3105855. The webcast will be archived and available for replay on www.transcanada.com.

TransCanada is a leading North American energy company. We are focused on natural gas transmission and power services with employees who are expert in these businesses. Our network of approximately 39,000 kilometres (24,200 miles) of pipeline tran sports 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 more than 4,700 megawatts of power – an equal amount of power can meet the needs of about 4.7 million average households. Our common shares trade under the symbol TRP on the Toronto and New York stock exchanges.

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For further information, please contact:

Media Inquiries:

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

Investor & Analyst Inquiries:

David Moneta / Debbie Stein
(403) 920-7911