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TRANSCANADA REPORTS IMPROVEMENT IN ANNUAL EARNINGS

 TRANSCANADA REPORTS IMPROVEMENT IN ANNUAL EARNINGS
 CALGARY, Alberta, Jan. 20 /PRNewswire/ -- TransCanada PipeLines


(Toronto, Montreal, Vancouver, Calgary: TRP) today announced net income applicable to common shares for the full year 1991 was Cdn $219.4 million or $1.34 per share, compared to $189.5 million or $1.23 per share in 1990.
 Funds generated from operations decreased slightly to $337.1 million for the year ended Dec. 31, 1991, from $341.1 million in 1990.
 Net income applicable to common shares for the fourth quarter of 1991 was $57.9 million or 34 cents per share, compared to $48.2 million or 31 cents per share for the same period in 1990.
 TRANSCANADA PIPELINE
 Financial Highlights
 (Millions of dollars except per share data)
 Three Months Twelve Months
 ended Dec. 31, ended Dec. 31,
 1991 1990 1991 1990
 Revenues 852.0 799.5 3,094.1 3,033.2
 Net income for the period 66.7 54.3 251.2 214.9
 Net income applicable to
 common shares 57.9 48.2 219.4 189.5
 Funds generated from
 operations 95.5 112.4 337.1 341.1
 Capital expenditures and
 investments 646.6 148.2 1,569.7 579.2
 Per common share data
 Net income applicable to
 common shares $0.34 $0.31 $1.34 $1.23
 Funds generated from
 operations $0.56 $0.73 $2.06 $2.22
 Average common shares
 outstanding (thousands) --- --- 163,628 153,555
 -0- 1/20/92
 /CONTACT: Frank Dabbs of TransCanada PipeLines, 403-267-8525/
 (TRP.)


CO: TransCanada PipeLines ST: Alberta IN: OIL SU: ERN

DM-JL -- LA018 -- 1479 01/20/92 15:00 EST
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Publication:PR Newswire
Date:Jan 20, 1992
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