TransCanada Releases 2007 Annual Report to Shareholders

Disclosure documents now available online

CALGARY, ALBERTA--(Marketwire - Feb. 28, 2008) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its 2007 Annual Report to shareholders, which contains the Consolidated Financial Statements and accompanying notes for the year ended December 31, 2007, as well as the related Management's Discussion and Analysis (MD&A), is now available online at www.transcanada.com. TransCanada's Notice of Annual Meeting of Shareholders and Management Proxy Circular, Annual Information Form, and Form 40-F are also available on the TransCanada website.

All of the documents (other than the Form 40-F) have been filed with the relevant securities regulators on the Canadian Securities Administrators' website at www.sedar.com; the Form 40-F is posted on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov. Copies of these documents are available in the Investor Centre section of the TransCanada website at www.transcanada.com.

Summary year-end disclosure was provided on January 29, 2008 in the fourth quarter and year-end news release.

The Notice of Annual Meeting of Shareholders and Management Proxy Circular and the 2007 Annual Report will be mailed to TransCanada's common shareholders beginning in mid-March, as required. TransCanada's Annual Meeting of Shareholders will be held at 10:00 a.m. (MDT) on April 25, 2008 at the Roundup 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 www.transcanada.com later today. The print version of TCPL's Consolidated Financial Statements and MD&A will be mailed to holders of preferred shares in mid-March, as required.

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 355 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.

TransCanada
Media Inquiries:
Cecily Dobson/Shela Shapiro
(403) 920-7859 or (800) 608-7859
or
Investor & Analyst Inquiries:
David Moneta/Myles Dougan/Terry Hook
(403) 920-7911 or (800) 361-6522
Website: www.transcanada.com