TC ENERGY CORP — Director's Dealing 2003

Aug 6, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TC PIPELINES LP (TCLP)
CIK: 0001075607
Period of Report: 2003-08-01

Reporting Person: TRANSCANADA PIPELINES LTD (10% Owner)
Reporting Person: TRANSCANADA CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-01	Common units representing limited partner interests	C	936435	—	Acquired	4672870	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-01	Subordinated units	$0	J	936435	Acquired	2003-08-01	Common units (936435)	Indirect
2003-08-01	Subordinated units	$0	C	936435	Disposed	2003-08-01	Common units (936435)	Indirect

Footnotes

F1: Subordinated units which convert to common units on a one-for-one basis.

F2: Automatic conversion of subordinated units in accordance with terms of limited partnership agreement of TC PipeLines, LP.

F3: The subordinated units do not have an expiration date.

F4: First business day after the record date for the quarter ended June 30, 2004, provided the terms of the partnership agreement are met, an additional 936,436 subordinated units will automatically convert on a one-to-one basis into common units.

F5: TC PipeLines GP, Inc. is a wholly owned subsidiary of TransCan Northern Ltd. which is a wholly owned subsidiary of TransCanada PipeLines Limited which is a subsidiary of TransCanada Corporation. TC PipeLines GP, Inc. owns 1,872,870 common units. TransCan Northern Ltd. owns 2,800,000 common units. TransCanada PipeLines Limited and TransCanada Corporation are the indirect beneficial owner of 4,672,870 common units.