TransCanada Pipe LP

Investor Information

Financial Highlights

Financial Highlights
(unaudited)
(millions of dollars except per common unit amounts)

	Three months ended September 30		Nine months ended September 30
	2008	2007	2008	2007
Net income	28.3	24.6	81.1	62.3
Per common unit ⁽¹⁾	$0.72	$0.64	$2.08	$1.81
Partnership cash flows ⁽²⁾	41.6	28.1	121.5	92.2
Cash distributions paid	27.8	25.1	80.8	61.3
Cash distributions declared per common unit ⁽³⁾	$0.705	$0.660	$2.110	$1.965
Weighted average common units outstanding (millions)	34.9	34.9	34.9	31.5
Common units outstanding at end of period (millions)	34.9	34.9	34.9	34.9

(1) Net income per common unit is computed by dividing net income, after deduction of the general partner’s allocation, by the weighted average number of common units outstanding. The general partner’s allocation is computed based upon the general partner’s two per cent interest plus an amount equal to incentive distributions.
(2) Partnership cash flows is a non-GAAP financial measure. Refer to the October 31, 2008 News Release entitled “TC PipeLines, LP Reports 2008 Third Quarter Results”.
(3) The Partnership's 2008 third quarter cash distribution will be paid on November 14, 2008 to unitholders of record as of October 31, 2008.