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CANADIAN PACIFIC RAILWAY AND UNION REACH AGREEMENT TO ENTER INTO BINDING ARBITRATION AND RETURN TO WORK
Source: Canadian Pacific news release

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced that it has reached agreement with the Teamsters Canada Rail Conference (TCRC) - Train and Engine Negotiating Committee to enter into binding arbitration.

"CP is pleased to have reached agreement with the TCRC Negotiating Committee to enter into binding arbitration and end this work stoppage," said CP President and CEO Keith Creel. "This agreement enables us to return to work effective noon Tuesday local time to resume our essential services for our customers and the North American supply chain."

CP wishes to thank the Canadian Federal Conciliation and Mediation Services for its critical work during this negotiation.

CP will immediately begin working with customers to resume normal train operations across Canada as soon as possible.

TCRC represents approximately 3,000 locomotive engineers, conductors, train and yard workers across Canada.


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