TransCanada Fourth Quarter 2008 Teleconference and Webcast Advisory

Market Wire, January, 2009

TransCanada Corporation (TSX: TRP) (NYSE: TRP) (TransCanada) will release its fourth quarter 2008 financial results on Tuesday, February 3, 2009.

Analysts, members of the media and other interested parties are invited to participate in a teleconference and webcast February 3, 2009 at 1:00 p.m. (Mountain) / 3:00 p.m. (Eastern) to discuss the fourth quarter 2008 financial results, and general developments and issues concerning the company.

To participate in the teleconference, please call (866) 225-6564 or (416) 641-6136 (Toronto area). Please dial in 10 minutes prior to the start of the call. No pass code is required. A live webcast of the teleconference will also be available on TransCanada's website ( www.transcanada.com ).

The teleconference will begin with a short address by members of TransCanada's executive management, followed by a question and answer period for investment analysts. A question and answer period for members of the media will immediately follow.

A replay of the teleconference will be available two hours after the conclusion of the call until midnight (Eastern) February 10, 2009. Please call (800) 408-3053 or (416) 695-5800 (Toronto area) and enter pass code 3280776#. The webcast will be archived and available for replay on www.transcanada.com .

With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas pipelines, power generation, gas storage facilities, and projects related to oil pipelines and LNG facilities. TransCanada's network of wholly owned pipelines extends more than 59,000 kilometres (36,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 370 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,900 megawatts of power generation in Canada and the United States. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

Contacts: TransCanada Media Inquiries Cecily Dobson (403) 920-7859 or (800) 608-7859 Investor & Analyst Inquiries David Moneta (403) 920-7911 or 1-800-361-6522 Myles Dougan (403) 920-7911 or 1-800-361-6522 Terry Hook (403) 920-7911 or 1-800-361-6522 Website: www.transcanada.com