Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) and Canadian Pacific Railway (TSX/NYSE: CP) today said that Elk Valley Coal and CPR continue to be engaged in mediation to attempt to resolve the issues between them concerning the transportation of coal from Elk Valley Coal's mines in southeastern British Columbia to Vancouver area ports for overseas export.

Pending the outcome of mediation, which commenced on Jan. 20, 2005, the Canadian Transportation Agency has agreed to the parties' request to stay a ruling on whether final offer arbitration is applicable to the freight rate to ship coal from Elk Valley Coal's Elkview mine.  The Elkview mine is one of five Elk Valley Coal mines in southeastern British Columbia.  

For further information, please refer to a joint news release issued by Fording Canadian Coal Trust and CPR on January 17, 2005, Fording Canadian Coal Trust's news release of December 14, 2004, and CPR's news release of December 13, 2004.

About Fording

Fording Canadian Coal Trust is an open-ended mutual fund trust. Through investments in metallurgical coal and industrial minerals mining and processing operations, the Trust makes quarterly cash distributions to unitholders. The Trust, through its wholly-owned subsidiary, Fording Inc., holds a 60% interest in the Elk Valley Coal Partnership and is the world's largest producer of the industrial mineral wollastonite. Elk Valley Coal Partnership, comprised of Canada's senior metallurgical coal mining properties, is the world's second largest exporter of metallurgical coal, capable of supplying approximately 25 million tonnes of high-quality coal products annually to the international steel industry. The Trust's shares are traded on the Toronto Stock Exchange under the ticker symbol FDG.UN and on the New York Stock Exchange under the symbol FDG.

About Canadian Pacific Railway

Canadian Pacific Railway is a transcontinental carrier operating in Canada and the U.S.  Its 14,000-mile rail network serves the principal centres of Canada, from Montreal to Vancouver, and the U.S. Northeast and Midwest regions.  CPR feeds directly into America's heartland from the East and West coasts.  Alliances with other carriers extend its market reach throughout the U.S. and into Mexico.  Canadian Pacific Logistics Solutions provides logistics and supply chain expertise worldwide.  For more information, visit CPR's website at www.cpr.ca.

Contacts:

Fording Canadian Coal Trust:

Susan J. Soprovich                             Catherine Hart

Director, Investor Relations                  Coordinator, Investor Relations

403-260-9834                                   403-260-9817

investors@fording.ca                           investors@fording.ca

Canadian Pacific Railway:

Paul Bell                                           Len Cocolicchio (media relations)             

Vice-President, Investor Relations         Tel.: (403) 319-7591                   

Tel.: (403) 319-3591                          len_cocolicchio@cpr.ca                

investor@cpr.ca