Teekay Offshore Partners L.P. Announces Second Quarter 2008 Earnings Conference Call

HAMILTON, BERMUDA (NYSE: TOO) plans to release its financial results for the quarter after market close on Wednesday, August 6, 2008.

The Partnership plans to host a conference call on Friday, August 8, 2008 at 12:00 p.m. (ET) to discuss the results for the second quarter of 2008. All unitholders and interested parties are invited to listen to the live conference call by choosing any of the following options:

- By dialing (866) 322-1159 or (416) 640-3404 if outside North America and quoting confirmation code 8043288;

- By accessing the webcast, which will be available on Teekay Offshore's web site at www.teekayoffshore.com (The archive will remain on the web site for a period of 30 days);

- A recording of the conference call will also be available until Friday, August 15, 2008 by dialing (888) 203-1112 or (647) 436-0148 and entering access code 8043288.

About Teekay Offshore

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 Partners currently owns a 51 percent interest in and controls Teekay Offshore Operating L.P. (OPCO), a Marshall Islands limited partnership with a fleet of 34 shuttle tankers (including nine chartered-in vessels), four floating storage and offtake units (FSO), and 11 conventional crude oil Aframax tankers. In addition, Teekay Offshore Partners L.P. has direct ownership interests in two shuttle tankers and one FSO. Teekay Offshore Partners also has rights to participate in certain floating production, storage and offloading (FPSO) opportunities.

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

Contacts: Teekay Offshore Partners L.P. Kent Alekson Investor Relations Enquiries (604) 609-6442 Teekay Offshore Partners L.P. Alana Duffy Media Enquiries (604) 844-6605 Website: www.teekayoffshore.com

Teekay Offshore Partners (NYSE:TOO)
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