TOO Teekay Offshore Partners LP

Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced today that it will present from 10:45 a.m. to 11:15 a.m. at the Teekay group of companies Investor Meeting to be held on Tuesday, June 23 in the Wedgewood Room at The Pierre Hotel, 2 East 61st Street, New York.

Members of Teekay Offshore's senior management team will present the Partnership's strategy, market outlook and financial position. The Investor Meeting presentation schedule is as follows:

Teekay "Parent"                   8:30 a.m. - 10:00 a.m.
Teekay LNG Partners L.P.         10:15 a.m. - 10:45 a.m.
Teekay Offshore Partners L.P.    10:45 a.m. - 11:15 a.m.
Teekay Tankers Ltd.              11:15 a.m. - 11:45 a.m.

The presentation will be webcast live on Teekay Offshore's Web site at www.teekayoffshore.com. For those unable to listen to the live event, an audio archive will be available at the same Web site following the live presentation.

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 34 shuttle tankers (including ten 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 and one FSO unit. Teekay Offshore also has rights to participate in certain 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 + 1 (604) 844-6654 Teekay Offshore Partners L.P. Alana Duffy Media Enquiries + 1 (604) 844-6605 www.teekayoffshore.com