CP Ships Announces 2002 Annual Report

CP Ships Limited's 2002 Annual Report and Management Proxy Circular have been posted on the company's website and are being mailed to shareholders. CP Ships' Annual Meeting of Shareholders is scheduled for April 23 at the Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario at 2:00 pm. CP Ships plans to announce its first quarter 2003 financial results the same time as well. CEO Ray Miles will host a conference call with the investment community starting at 9:00 am Toronto time. The conference call will be webcast live through the CP Ships website and be available in archive through May 23.