TC PipeLines, LP
NASDAQ : TCLP

TC PipeLines, LP

October 17, 2008 16:55 ET

TC PipeLines, LP Declares Third Quarter Cash Distribution and Schedules Earnings Teleconference and Webcast

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2008) - TC PipeLines, LP (the Partnership) (NASDAQ:TCLP) today announced the board of directors of TC PipeLines GP, Inc., its general partner, has declared the Partnership's third quarter 2008 cash distribution in the amount of US$0.705 per unit. This cash distribution represents a 6.8 per cent increase from the third quarter 2007 distribution of $0.66 per unit.

"The Partnership is in an excellent position to weather these uncertain economic times," said Russ Girling, chairman and chief executive officer of TC PipeLines GP, Inc. "The combination of our strong cash flows and regulated pipeline asset base will continue to provide the Partnership with the stability and financial capacity to deliver cash distributions and look for opportunities to grow in a sustained and disciplined manner."

This cash distribution is the 38th consecutive quarterly distribution paid by the Partnership. This distribution is payable on November 14, 2008 to unitholders of record as of October 31, 2008.

The Partnership will release its third quarter 2008 financial results on Friday, October 31, 2008. Analysts, members of the public, the media and other interested parties are invited to participate in a teleconference and audio webcast on Friday, October 31, 2008 at 10:00 a.m. (Mountain) and 12:00 p.m. (Eastern). Mark Zimmerman, president of the general partner, will discuss third quarter 2008 financial results and general developments and issues concerning the Partnership. To participate, please call (866) 225-0198. A replay of the conference call will also be available two hours after the conclusion of the call and until midnight, Friday, November 7, 2008, by dialing (800) 408-3053, then entering pass code 3272194#.

A live webcast of the conference call will also be available through the Partnership's website at www.tcpipelineslp.com. An audio replay of the call will be maintained on the website.

TC PipeLines, LP is a publicly traded limited partnership. TC PipeLines, LP has interests in more than 3,600 miles of federally regulated U.S. interstate natural gas pipelines, including Great Lakes Gas Transmission Limited Partnership (46.45 per cent ownership), Northern Border Pipeline Company (50 per cent ownership) and Tuscarora Gas Transmission Company (100 per cent ownership). Great Lakes is a 2,115-mile pipeline serving markets in Minnesota, Wisconsin, Michigan and eastern Canada. The 1,249-mile Northern Border Pipeline transports natural gas from the Montana-Saskatchewan border to markets in the midwestern United States. Tuscarora owns a 240-mile pipeline system that transports natural gas from Oregon where it interconnects to TransCanada's Gas Transmission Northwest System. TC PipeLines, LP is managed by its general partner, TC PipeLines GP, Inc., an indirect wholly owned subsidiary of TransCanada Corporation. TC PipeLines GP, Inc., also holds common units of TC PipeLines, LP. Common units of TC PipeLines, LP are quoted on the NASDAQ Stock Market and trade under the symbol "TCLP." For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com.

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