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TransCanada 2005 Annual Disclosure Documents Now Available

CALGARY, Alberta – March 2, 2006 – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today announced that its 2005 Annual Report to shareholders, which contains the Consolidated Financial Statements and accompanying notes for the year ended Dec. 31, 2005, as well as the related Management’s Discussion and Analysis, is now available online at www.transcanada.com. TransCanada’s Notice of Annual Meeting of Common Shareholders and Management Proxy Circular, Annual Information Form (AIF) and Form 40-F are also available on the company’s website.

All documents have been filed with the relevant securities regulators and are posted on the Canadian Securities Administrators’ website at www.sedar.com and on the EDGAR section of the U.S. Securities and Exchange Commission’s website at www.sec.gov.

Summary year-end disclosure was provided on Jan. 31, 2006 in the fourth quarter and year-end news release.

The print versions of the 2005 Annual Report and Notice of Annual Meeting and Management Proxy Circular will be mailed to TransCanada’s common shareholders beginning in mid-March. TransCanada’s annual meeting will be held at 10:30 a.m. on Apr. 28, 2006 at the RoundUp Centre, Calgary, Alberta.

TransCanada’s wholly owned subsidiary, TransCanada PipeLines Limited (TCPL), intends to file its annual disclosure documents with securities regulators in Canada and the United States and post its documents online at www.transcanada.com on Mar. 3, 2006. The print version of TCPL’s Consolidated Financial Statements and MD&A will be mailed to preferred shareholders in mid-March.

TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure. TransCanada’s network of more than 41,000 kilometres (25,600 miles) of pipeline transports the majority of Western Canada’s natural gas production to key Canadian and U.S. markets. A growing independent power producer, TransCanada owns, or has interests in, approximately 6,700 megawatts of power generation in Canada and the United States. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

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For further information, please contact:

Media Inquiries:

TransCanada
Jennifer Varey
(403) 920-7859 or Toll Free (800) 608-7859

Investor & Analyst Inquiries:

David Moneta/Myles Dougan
(403) 920-7911