Canadian Pacific Railroad Acquisition of DM&E and IC&ECANADIAN
PACIFIC
September 30, 2008
Mayor Roy Buol
City of Dubuque
50 W. 13th St.
Dubuque, IA 52001
Dear Mayor Buol:
F J (Fred) Green
President and
Chief Executive Officer
Suite 500
Gulf Canada Square
401 - 9th Avenue SW
Calgary AB
T2P 4Z4
/ / ~/~j~
Tel 403-319-7555
Fax 403-205-9000
fred~reen@cpr.ca
I am pleased to report that the US Surface Transportation Board (STB) has approved Canadian
Pacific's (CP) application to acquire control of the Dakota, Minnesota & Eastern (DM&E) and
the Iowa, Chicago & Eastern (IC&E) Railroads. The STB denied all requests for conditions other
than those agreed to voluntarily by CP. The official effective date of the final decision is October
30, 2008.
Between today and October 30, there is a mandatory 30-day administrative period whereby
stakeholders can appeal the regulatory process and timelines followed as part of the STB approval
process.
CP's commitment to invest an additional $300 million in capital across the DM&E and IC&E
networks will improve safety and fluidity. CP's acquisition of DM&E and IC&E will increase
revenue, create jobs and boost local economic vitality for the communities through which we
operate.
At CP, we believe our success depends on more than our ability to understand our business and
customers. We also appreciate the issues that matter to the communities in which we live and do
business -issues such as safety, quality of life, supporting local initiatives and the environment.
It is our belief, that over time, our experience as North America's safest railway will improve the
safety throughout the entirety of the DM&E and IC&E networks.
Sincerely,
C7
~~
Fred Green ~`~ ~ `~
C>' ~..
President & CEO ~ ~''
Canadian Pacific -~=~ ~'
,a c;
"._ ~!
y
c.~
cx~
o -~
"~ , -~?
W
'+1
x~ -~
~ `~