CPR receives final offer arbitration application by Elk Valley Coal Corporation CALGARY, Oct. 7 /PRNewswire-FirstCall/ -- Canadian Pacific Railway (TSX/NYSE: CP) said today it has been notified that Elk Valley Coal Corporation has filed with the Canadian Transportation Agency an application for final offer arbitration in connection with rates charged by CPR for the movement of coal by rail from one of Elk Valley Coal Corporation's five coal mines in southeastern B.C., to the Port of Vancouver. Notwithstanding the final offer arbitration application, CPR will continue to progress with the statement of claim it filed against Elk Valley Coal Corporation on July 21, 2004, which is in respect of the defendant's alleged failure to pay the full amount of rail freight charges applicable pursuant to the transportation contract between CPR and Elk Valley Coal Corporation. Canadian Pacific Railway is a transcontinental carrier operating in Canada and the U.S. Its 14,000-mile rail network serves the principal centres of Canada, from Montreal to Vancouver, and the U.S. Northeast and Midwest regions. CPR feeds directly into America's heartland from the East and West coasts. Alliances with other carriers extend its market reach throughout the U.S. and into Mexico. Canadian Pacific Logistics Solutions provides logistics and supply chain expertise worldwide. DATASOURCE: Canadian Pacific Railway CONTACT: Media: Len Cocolicchio, (403) 319-7591, Email: ; Investment Community: Paul Bell, Vice-President, Investor Relations, (403) 319-3591, Email:

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