TC PIPELINES LP
			Symbol			TCLP

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TC PipeLines, LP Reports 2009 Third Quarter Results

2009-11-06 08:33 ET - News Release

OMAHA, NEBRASKA -- (MARKET WIRE) -- 11/06/09

(NASDAQ: TCLP) - TC PipeLines, LP (the Partnership or PipeLP) today reported third quarter 2009 net income of $27.4 million or $0.65 per common unit (all amounts in U.S. dollars), a decrease of $0.9 million compared to $28.3 million or $0.72 per common unit, prior to recast, for the same period last year.

On July 1, 2009, the Partnership acquired North Baja Pipeline, LLC (North Baja) from a wholly owned subsidiary of TransCanada Corporation (TransCanada). The acquisition was accounted for as a transaction between entities under common control, whereby the Partnership's historical financial information has been recast to include North Baja's results for all periods presented. The $6.2 million contribution to net income, or $0.15 per common unit, from North Baja since the acquisition partially offset the lower equity income from Northern Border Pipeline Company (Northern Border or NBPC) in third quarter 2009 compared to the same period last year. Equity income from Northern Border decreased primarily as a result of the $16.1 million (Partnership share - $8.1 million) gain on sale of Bison Pipeline LLC (Bison) in 2008.

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