Media Advisory - Canadian Pacific Celebrates Launch of Five Companies

Special TSE Ceremony Marks First Day of Trading in Toronto, New York

Press Release: Canadian Pacific Limited
October 2, 2001
CALGARY, AB -- Canadian Pacific Limited, one of Canada's most significant and historic companies, will be marking the successful completion of its proposed reorganization. On October 3, its five operating businesses become fully independent, public companies with their formal listing and commencement of trading on the Toronto and New York stock exchanges.

	    Date:     Wednesday, October 3, 2001

	    Time:     9:30 a.m. - Special "Countdown to Trading" Ceremony
	              By Invitation Only

	              9:45 a.m. - News Conference
	              This event is a private function.  Due to space limitations,
	              only accredited media can be accommodated.  To receive
	              accreditation, please call the media contacts listed below.

	    Who:      Wayne Fox - Chairman, Toronto Stock Exchange
	              Barbara Stymiest - President, Toronto Stock Exchange

	              David O'Brien - Chairman, President & CEO, Canadian Pacific
	               Limited
	              David Tuer - President & CEO, PanCanadian
	              Jim Gardiner - President & CEO, Fording
	              Rob Ritchie - President & CEO, Canadian Pacific Railway
	              Ray Miles - CEO, CP Ships
	              Bill Fatt - CEO, Fairmont Hotels & Resorts

	    Where:    Stock Market Place
	              Toronto Stock Exchange
	              130 King Street West
	              Toronto


Media who cannot attend in person may call into the news conference as follows: from North America, 1-888-568-1647, and from overseas or locally within Toronto, 416-641-6440. Help lines for those requiring assistance are as follows: from North America, 1-800-267-5196, and from overseas 514-843-3220. Non-media may participate in "listen-only" mode.

The call will be available on post-view until the end of Friday, October 5, 2001. Dial in numbers and pass codes are as follows: from North America, 1-800-558-5253 (19794993 followed by the pound key), and from overseas or locally within Toronto, 416-626-4100 (19793506 followed by the pound key).

The CEOs of the five operating companies will also be available to North American media by satellite following the press conference from 11 a.m. - 4 p.m. Please call Brad Cicero or Christine Mulkins at (416) 967-3702 to schedule an interview time.

	    Video via Satellite - Oct. 3, 1 - 1:15 p.m.
	    -    TSE countdown ceremony/news conference
	    -    Remarks from NYSE official
	    -    NYSE building exterior
	    -    NYSE trading floor and specialist stations
	    -    B-roll of the five operating companies

	    Coordinates
	    Time: 11:00 - 16:00
	    Satellite: Galaxy 3R Transponder 4 C Band
	    Audio 6.2 and 6.8
	    Satellite: 95 degrees west
	    Downlink Frequency 3780

	    Trouble Number: 416-341-2121


Please be advised that the conference call is considered copyrighted material and cannot be rebroadcast without Canadian Pacific's written consent.