TRANSCANADA CORP
			Symbol			TRP

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TransCanada Reports Third Quarter Net Income of $345 Million or $0.50 Per Common Share

2009-11-04 08:38 ET - News Release

CALGARY, ALBERTA -- (MARKET WIRE) -- 11/04/09

TransCanada Corporation (TSX: TRP) (NYSE: TRP) (TransCanada or the Company) today announced net income for third quarter 2009 of $345 million or $0.50 per common share. TransCanada's Board of Directors also declared a quarterly dividend of $0.38 per common share.

"TransCanada continues to post solid earnings and strong cash flows on the strength of our diverse energy infrastructure business. Third quarter earnings were ahead of last year for our pipelines and natural gas storage assets, while the economic downturn continues to impact power revenues," said Hal Kvisle, TransCanada's president and chief executive officer.

"We made significant progress during the quarter executing the major projects within our $22 billion capital program. TransCanada is well positioned to fund this unprecedented growth. The carrying costs and dilution associated with financing this multi-year program continues to have a near-term impact on our earnings and cash flow per share. However, we are confident that our capital program will generate significant growth in cash flows and earnings over the next four years as our large scale, highly attractive projects commence operations."

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