Teekay Offshore Partners L.P. Declares Distribution

HAMILTON, BERMUDA -- (Marketwire) -- 10/20/09 -- Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (NYSE: TOO) (Teekay Offshore), has declared a cash distribution of $0.45 per unit for the quarter ended September 30, 2009. The cash distribution is payable on November 13, 2009 to all unitholders of record on October 27, 2009.

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P., a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK), is an international provider of marine transportation and storage services to the offshore oil industry. Teekay Offshore owns a 51 percent interest in and controls Teekay Offshore Operating L.P., a Marshall Islands limited partnership with a fleet of 33 shuttle tankers (including eight chartered-in vessels), four FSO units, nine double-hull conventional oil tankers and two lightering vessels. In addition, Teekay Offshore has direct ownership interests in two shuttle tankers, one FSO unit and one FPSO unit. Teekay Offshore also has rights to participate in certain other FPSO opportunities.

Teekay Offshore's common units trade on the New York Stock Exchange under the symbol "TOO".