## SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA 

Quarterly consolidated financial data for the years ended December 31, 2001 and 2000 is found under the heading “Selected Quarterly Consolidated Financial Data” on page 67 in the Annual Report and is hereby incorporated by reference. 

## FORWARD-LOOKING INFORMATION 

Certain information in this Management’s Discussion and Analysis is forward-looking and is subject to impor- tant risks and uncertainties. The results or events predicted in this information may differ from actual results or events. Factors which could cause actual results or events to differ materially from current expectations include, among other things, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability and price of energy commodities, regulatory decisions, competitive factors in the pipeline and power industry sectors, and the current economic conditions in North America. For additional information on these and other factors, see the reports filed by TransCanada with Canadian securities regulators and with the United States Securities and Exchange Commission. TransCanada dis- claims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

