ALSTOM takes over management of CPR's largest repair
facility

Hamdi Conger, Senior Vice-President, ALSTOM Transport,
Service, said:
The skills and competencies CPR brings to the table
are a perfect complement to our current offering in North
America. Were now in an excellent position to offer
customers overhaul  services for freight cars, locomotives
and components in addition to our existing locomotive
re-manufacturing, new freight car manufacturing and transit car
rebuilding services located in Montreal and New York State. We
expect to move forward quickly in developing new sources of
business from our new base.

Robert Ritchie, CPR President and Chief Executive Officer,
said:
The transfer to ALSTOM is a winning formula for
everyone involved. It removes the problem of capacity
under-utilization at our largest maintenance facility, and builds
shareholder value.  As a buyer of ALSTOMs services at
Ogden, CPR expects to see a positive impact on our maintenance
and repair costs from economies of scale as business grows under
the new operator.

ALSTOM will acquire the inventory and equipment at Ogden
Shops, and will have a long-term lease on the facilitys
buildings. ALSTOM will provide CPR with the equipment overhaul
and repair services the railway had previously performed on its
own behalf at Ogden.

Dirk van-der-Weeen has been appointed General Manager of the
Ogden shops.

35 former CPR supervisors have become ALSTOM employees. They
will manage approximately 500 unionized shop workers who will
remain employees of CPR, and who are represented by the Canadian
Auto Workers (CAW) and the United Steel Workers (USW).

 

ABOUT ALSTOM:
ALSTOM is the global specialist in energy and transport
infrastructure. The Company serves the energy market through its
activities in the fields of power generation, power transmission
and distribution, power conversion and electrical contracting and
the transport market through its activities in rail and marine.
ALSTOM today has annual sales in excess of 22 billion dollars and
employs approximately 140,000 people worldwide.

The companys Transport Sector offers passenger and
freight rail transport owners and operators on every continent a
complete range of trains and train equipment, locomotives,
signaling products and systems, and electromechanical
infrastructure for power supply, track and stations. ALSTOM also
offers a complete range of maintenance and overhaul 
services for clients worldwide, backed up by a world-class
logistics organization.

ABOUT CANADIAN PACIFIC RAILWAY:
CPR provides rail and intermodal freight transportation
services coast to coast over a 14,000-mile network extending from
Montreal to Vancouver, and throughout the U.S. Midwest and
Northeast. Serving ports on the east and west coasts, CPR links
North America with European and Pacific Rim markets, and is a
leading carrier in the intermodal industry. CPR is a wholly-owned
subsidiary of Canadian Pacific Limited;

Contacts:

ALSTOM

Frederique Menard

Tel.: +1 (212) 557-7259

frederique.menard@transport.alstom.com

Canadian Pacific Railway

Len Cocolicchio    

Tel.: +1 (403) 319-7591

len_cocolicchio@cpr.ca