TransCanada 2004 Fourth Quarter Results Teleconference and Webcast Advisory

Bruce Power results to be released January 27
Consolidated results to be released February 1

CALGARY, Alberta – January 20, 2005 – (TSX: TRP) (NYSE: TRP) – TransCanada Corporation will report its share of Bruce Power’s 2004 financial results on Thursday, January 27, 2005. TransCanada’s consolidated results will be released during the morning of Tuesday, February 1, 2005.

The earlier release of the Bruce Power results is timed to coincide with Cameco Corporation’s release of fourth quarter results, which also include earnings from Bruce Power. TransCanada and Cameco each have a 31.6 per cent interest in the Bruce Power Limited Partnership.

Analysts, members of the media and other interested parties are invited to participate in TransCanada’s fourth quarter teleconference and audio webcast February 1 at 12 p.m. (Mountain) / 2 p.m. (Eastern) to discuss the fourth quarter 2004 financial results, and general developments and issues concerning the company.

To participate, please call 1-877-295-2825 or 416-405-8532 (Toronto area). Please dial in 10 minutes prior to the start of the call. No passcode is required. A live audio webcast of the teleconference will also be available on TransCanada’s website.

The conference will begin with a short address by members of TransCanada’s executive management, followed by a question and answer period for investment analysts. A question and answer period for members of the media will immediately follow.

A replay of the teleconference will be available two hours after the conclusion of the call until midnight Eastern time February 8, 2005. Please call 1-800-408-3053 or 416-695-5800 (Toronto area) and enter passcode 3135828. The webcast will be archived and available for replay on

TransCanada is a leading North American energy company. TransCanada is focused on natural gas transmission and power services with employees who are expert in these businesses. TransCanada’s network of approximately 41,000 kilometres (25,600 miles) of pipeline transports the majority of Western Canada’s natural gas production to the fastest growing markets in Canada and the United States. TransCanada owns, controls or is constructing more than 4,700 megawatts of power generation – an amount of power that can meet the needs of about 4.7 million average households. The Company’s common shares trade under the symbol TRP on the Toronto and New York stock exchanges.

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For further information, please contact:

Media Inquiries:

Hejdi Feick / Kurt Kadatz
(403) 920-7859 or Toll Free (800) 608-7859

Investor & Analyst Inquiries:

David Moneta
(403) 920-7911