CP and TSI sign productivity and performance agreement

CALGARY and VANCOUVER, June 23 /PRNewswire-FirstCall/ - Canadian Pacific (TSX/NYSE: CP) and TSI Terminal Systems Inc. (TSI), a subsidiary of Global Container Terminals, today announced they have entered into an agreement to enhance the future flow of containers through the Vancouver gateway.

"This agreement moves us down the path of a high performance, efficient and reliable supply chain," said Michael Moore, President and Chief Executive Officer of Global Container Terminals. "We will measure performance changes, share best practices, and work cooperatively toward growth for the benefit of our mutual customers."

TSI is the largest container terminal operator in Canada, handling more than 70 per cent of the containerized cargo that moves through the Vancouver gateway.

TSI and CP will coordinate working groups in the fields of operations, technology and marketing to identify tools and processes for productivity improvements. This collaborative effort will improve service on all levels for steamship lines, shippers and consignees. This will include improved information systems that enhance the visibility and predictability of customer demand.

"This agreement will increase the efficiency and reliability of this major supply chain," said CP President and CEO, Fred Green. "Between 2001 and 2008, collaboration between terminal operators and CP has led to a 229% increase in loaded import containers through Canada's Asia-Pacific Gateway terminals in Vancouver."

About TSI:

GCT Global Container Terminals Inc. is a wholly-owned subsidiary of the Ontario Teachers' Pension Plan, one of the largest financial institutions in Canada. The Company operates four container terminals through three principal businesses in North America: TSI Terminal Systems Inc. in Vancouver and Delta, British Columbia; New York Container Terminal on Staten Island, New York; and Global Terminal & Container Services in Bayonne, New Jersey. For more information, visit the company's website at www.globalterminals.com

About Canadian Pacific:

Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, remains committed to being the safest, most fluid railway in North America. Our people are the key to delivering innovative transportation solutions to our customers and to ensuring the safe operation of our trains through the more than 1,100 communities where we operate. Come and visit us at www.cpr.ca to see how we can put our ingenuity to work for you.

SOURCE Canadian Pacific