At TransCanada's Annual General Meeting on April 25, shareholders voted in favour of creating TransCanada Corporation as the new parent company of TransCanada PipeLines Limited. This change will have no impact on our day-to-day operations, services or obligations with our customers. You can continue to interact with us in the same way and still do business with TransCanada PipeLines Limited.

The purpose of this restructuring is to create a corporate structure that will better accommodate future growth and better position TransCanada to pursue new business opportunities in the pipeline and power industries.

The Court of Queen's Bench issued a final order authorizing the arrangement on April 28. TransCanada Corporation will become the parent company of TransCanada effective May 15, 2003.

For more information, please check out our news release.