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## NOTE 4 – PLANT, PROPERTY AND EQUIPMENT 

December 31 (millions of dollars) 

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## NOTE 5 – JOINT VENTURE INVESTMENTS 

(millions of dollars) 

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1 During 1999, the Company increased its interest in Iroquois from 29.0 per cent to 35.0 per cent. In May 2001, the Company increased its interest to 41.0 per cent. 2 

In September 2000, the accounting treatment for TC PipeLines, LP changed from consolidation to proportionate consolidation as a result of a change in the control relationship. 3 During 1999, the Company decreased its interest in TransCanada Power, L.P. from 39.8 per cent to 32.7 per cent. During 2000, the Company increased its interest to 

41.6 per cent and in October 2001, decreased its interest to 35.6 per cent. 4 In December 2001, the Company purchased 50 per cent of ASTC Power Partnership, which is located in Alberta and holds a power purchase arrangement. 

5 

In October 2000, the Company increased its interest in the Ocean State Power plant from 70.1 per cent to 100 per cent and the investment was consolidated subsequent to that date. 

Consolidated retained earnings at December 31, 2001 include undistributed earnings from these joint ventures of $347 million (2000 – $267 million). 

