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TRANSCANADA PIPELINES ANNOUNCES THIRD QUARTER RESULTS

 TRANSCANADA PIPELINES ANNOUNCES THIRD QUARTER RESULTS
 CALGARY, Alberta, Oct. 26 /PRNewswire/ -- Expansion of the


company's Canadian mainline operations and improved results from U.S. investments continued to drive TransCanada's (Toronto, Montreal, Vancouver, Calgary: TRP) earnings growth in the third quarter of 1992.
 Net income increased $19.4 million to $83.9 million for the three months ended Sept. 30, 1992. This represents earnings of 39 cents per share for the period, which compares to 34 cents per share for the same period in 1991. Net income for the nine months ended Sept. 30, 1992, was $244.4 million, an increase of $59.9 million from $184.5 million in 1991. This amounts to $1.17 per share for the nine months ended Sept. 30, 1992, compared to $1.00 per share in 1991.
 The gas sales, marketing and other segment experienced a third quarter operating loss of $3.3 million, compared to a loss of $0.4 million for the same period in 1991. Although export sales increased, outstanding first quarter gas purchase obligations were settled at higher than expected U.S. spot prices. Contributions to operating income in the nine months ended Sept. 30, 1992, were comparable to the same period in 1991.
 Equity income from investments for the three and nine months ended Sept. 30, 1992, increased $12.3 million and $30.0 million, respectively, compared to the same periods one year ago. New facilities put into service on the Great Lakes system in late 1991 and Phase II of the Ocean State Power Plant generated increased equity income throughout the first three quarters of 1992 compared to the same periods in 1991. Increased strength of the U.S. dollar in relation to the Canadian dollar was the other main contributor to increased equity income.
 Funds generated from operations in the first nine months of 1992 were $375.0 million, up $133.4 million from $241.6 million in the nine months ended Sept. 30, 1991. The increase is principally a result of higher earnings combined with distributions from Great Lakes and Ocean State.
 TRANSCANADA PIPELINES
 Financial Highlights
 (Millions of dollars except per share data)
 Three Months Nine Months
 Ended Sept. 30, Ended Sept. 30,
 1992 1991 1992 1991
 Revenues 853.0 681.2 2,623.6 2,242.1
 Net income for the period 83.9 64.5 244.4 184.5
 Funds generated from
 operations 127.1 81.8 375.0 241.6
 Capital expenditures and
 investments 462.8 462.2 1,194.9 923.1
 Per share data:
 Net income $0.39 $0.34 $1.17 $1.00
 Funds generated from
 operations $0.68 $0.48 $2.09 $1.50
 Average shares outstanding
 (thousands) 179,406 161,066
 -0- 10/26/92
 /CONTACT: Frank Dabbs of TransCanada PipeLines, 403-267-8525/
 (TRP.) CO: TransCanada PipeLines Ltd. ST: Alberta IN: OIL SU: ERN


LS -- LA042 -- 5112 10/26/92 19:46 EST
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Publication:PR Newswire
Date:Oct 26, 1992
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