RNS Number:4169K
TransCanada Pipelines Ld
25 April 2003



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NewsRelease

                    TransCanada Declares Quarterly Dividends

CALGARY, Alberta -April 25, 2003 - (TSX: TRP) (NYSE: TRP) - The Board of
Directors of TransCanada PipeLines Limited today declared the following regular
dividends on TransCanada's preferred shares:

Dividend Number 19 was declared on the outstanding Cumulative Redeemable First
Preferred Shares Series U in the amount of $0.70 per share for the period ending
July 30, 2003. The dividend is payable on July 30, 2003, to shareholders of
record at the close of business on June 30, 2003.

Dividend Number 18 was declared on the outstanding Cumulative Redeemable First
Preferred Shares Series Y in the amount of $0.70 per share for the period ending
August 1, 2003. The dividend is payable on August 1, 2003, to shareholders of
record at the close of business on June 30, 2003.

As announced today in TransCanada's First Quarter 2003 Report to Shareholders,
the Board declared a quarterly dividend of $0.27 per share on the company's
outstanding common shares for the quarter ending June 30, 2003. It is the 158th
consecutive dividend paid by TransCanada on its common shares, and is payable on
July 31, 2003, to shareholders of record at the close of business on June 30,
2003.

TransCanada is a leading North American energy company. We are focused on
natural gas transmission and power services with employees who are expert in
these businesses. Our network of approximately 38,000 kilometres of pipeline
transports the majority of western Canada's natural gas production to the
fastest growing markets in Canada and the United States. TransCanada has
interests in more than 4,000 megawatts of power - an equal amount of power can
meet the needs of about four million average households. Our common shares trade
under the symbol TRP on the Toronto and New York stock exchanges. Visit us on
the internet at www.transcanada.com for more information.

                          FORWARD LOOKING INFORMATION

Certain information in this news release is forward-looking and is subject to
important risks and uncertainties. The results or events predicted in this
information may differ from actual results or events. Factors which could cause
actual results or events to differ materially from current expectations include,
among other things, the ability of TransCanada to successfully implement its
strategic initiatives and whether such strategic initiatives will yield the
expected benefits, the availability and price of energy commodities, regulatory
decisions, competitive factors in the pipeline and power industry sectors, and
the current economic conditions in North America. For additional information on
these and other factors, see the reports filed by TransCanada with Canadian
securities regulators and with the United States Securities and Exchange
Commission. TransCanada disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.

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Media Inquiries:          Glenn Herchak/Hejdi Feick          (403) 920-7877

Investor & Analyst 
Inquiries:                David Moneta/Debbie Persad         (403) 920-7911


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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