8 February 2008

Update from CPR re Labour Agreements

An agreement was reached with the Teamsters on December 5, 2007 for 4500 running trades employees. Ratification results will be known on Wednesday, February 13.

Additionally, an agreement was reached with the CAW on January 26, 2008 for our 2200 mechanical employees. That result will be announced on Friday, February 15.

We remain optimistic that both settlements, which have been unanimously recommended for ratification by their respective union bargaining committees, will ratify. However, as our valued customer, we want to remind you of these dates so that you can continue to plan your transportation requirements with full transparency. The possibility of a failed ratification in either of these instances could result in a 72 hour notice of strike under the Canada Labor Code.

We will provide an update on the final ratification results when they are known next week.