Investor Services Computershare Trust Company of 100 University Avenue 11th Floor Toronto, Ontario M5J 2Y1 Canada www.computershare.com NEWS RELEASE Canada Australia Channel Islands New Zealand South Africa Limited and CP Ships Limited (the “Companies”) Appoint USA Computershare as Agent for their Small Shareholder Selling Programs

Calgary, November 19, 2002 – Computershare Trust Company of Canada is pleased to announce that it has been selected to act as Agent for each of the Odd-Lot Selling Programs (the “Programs”) for Canadian Pacific Railway Limited and CP Ships Limited.

The materials for the Programs were mailed on November 15, 2002, to all registered shareholders of the Companies as of November 7, 2002. The Programs will operate through the facilities of the Toronto Stock Exchange (the “TSX”) in compliance with the TSX’s policy on Small Shareholder Selling and Purchase Arrangements. The Programs are open to the registered and beneficial shareholders of both Companies and will run until February 7, 2003. Questions should be directed to Computershare between the hours of 8:30 am to 8:00 pm EST, Monday – Friday at:

• Toll Free (Canada and US): 1-866-982-7999. • International: +1-514-982-7800

About Computershare

Computershare Trust Company of Canada is a leading provider of transfer agency services, employee plans and trustee services to the Canadian securities industry. Computershare is a subsidiary of Computershare Ltd. (ASX: CPU), a leading financial services and technology services provider for the global securities industry, providing services and solutions to listed companies, investors, employees, exchanges and other financial institutions.

Computershare is the largest and only global share registry, managing in excess of 68 million shareholder accounts for over 7,500 corporations in ten countries on five continents, and it provides sophisticated trading technology to financial markets in each major time zone.

Founded in Australia, Computershare today employs more than 5,000 people worldwide and is an Australia Stock Exchange Top 100 company.

About Canadian Pacific Railway Limited Canadian Pacific Railway’s 14,000-mile network serves the principal centres of Canada, from Montreal to , and the U.S. Northeast and Midwest regions. CPR feeds directly into the Chicago hub from the East and West coasts. Alliances with other carriers extend CPR’s market reach beyond its own network and into the major business centres of Mexico. For more information, visit CPR’s website at www.cpr.ca. …/2

NEWS RELEASE

About CP Ships Limited One of the world’s leading container shipping companies, CP Ships provides international container transportation services in four key regional markets: TransAtlantic, Australasia, Latin America and Asia. Within these markets CP Ships operates 38 services in 25 trade lanes, most of which are served by two or more of its seven readily recognized brands: ANZDL, Canada Maritime, Cast, , Italia Line, Lykes Lines and TMM Lines. CP Ships has a fleet of 90 ships and 400,000 containers. Its annual volume is 2 million teu, more than 80% of which is North American exports or imports. It also owns Montreal Gateway Terminals, which operates one of the largest marine container terminal facilities in Canada. CP Ships’ stock is traded on the Toronto and New York stock exchanges under the symbol TEU. It is listed in the S&P/TSX 60 Index of top Canadian publicly listed companies. For further information visit the CP Ships website, www.cpships.com. # # #

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