Company Profile For Canadian Pacific Railway Limited

Canadian Pacific Railway Limited (CPRL) is a holding company whose direct and indirect subsidiaries operate railways in North America. The main operating subsidiary of the Company is Canadian Pacific Railway Company. The Company owns approximately 10,800 miles of track. An additional 4,700 miles of track are owned jointly, leased or operated under trackage rights. Of the total mileage operated, approximately 6,300 miles are located in western Canada, 2,200 miles in eastern Canada, 5,800 miles in the United States Midwest and 1,200 miles in the United States Northeast. Its business is based on funnelling railway traffic from feeder lines and connectors, including secondary and branch lines, onto its high-density mainline railway network. The Company assumed control of DM&E on October 30, 2008. In August 2009, the Company announced the sale of Windsor Station and significant other related real estate assets to The Cadillac Fairview Corporation Limited.

BRIEF: For the nine months ended 30 September 2009, Canadian Pacific Railway Limited's revenues decreased 12% to C$3.18B. Net income decreased less than 1% to C$415.2M. Revenues reflect a decrease in freight income. Net income reflects an increase in equipment rent expense, higher depreciation & amortization charges, a rise in interest expense and the absence of equity income in Dakota, Mannesota & Eastern Railroad Corporation.