The Management’s Discussion and Analysis dated March 1, 2005 should be read in conjunction with the audited consolidated financial statements of TransCanada PipeLines Limited (TCPL or the company) and the notes thereto for the year ended December 31, 2004. Amounts are stated in Canadian dollars unless otherwise indicated.

This document is a comprehensive report on a company's activities throughout the preceding year.

Ce rapport annuel est un rapport complet sur les activités d’une entreprise au cours de l’année précédente.

CALGARY, ALBERTA--(Marketwire - July 29, 2010) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada or the Company) today announced net income applicable to common shares for second quarter 2010 of $285 million or $0.41 per share. Comparable earnings were $275 million or $0.40 per share. Ne...