TOO Teekay Offshore Partners LP

Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced today that it will present from 10:15 a.m. to 10:45 a.m. at the Teekay group of companies' Investor Meeting to be held on Wednesday, October 20, 2010 in the Hilton Room at The Waldorf=Astoria at 301 Park Avenue, New York. The Hilton Room is located on the lobby level at the Park Avenue entrance. Any investors interested in scheduling a one-on-one meeting with management during the afternoon of Wednesday, October 20, should contact Emily Yee at 604-609-6437 or Emily.Yee@teekay.com.

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

Teekay Corporation                      8:30 a.m. - 10:00 a.m.
Teekay Offshore Partners L.P.           10:15 a.m. - 10:45 a.m.
Teekay LNG 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, production 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 32 shuttle tankers (including six chartered-in vessels), four FSO units, nine conventional oil tankers and two lightering vessels. In addition, Teekay Offshore has direct ownership interests in two shuttle tankers, two FSO units, and one FPSO unit. Teekay Offshore also has rights to participate in certain other FPSO and FSO opportunities of Teekay Corporation.

Teekay Offshore Partners' 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) 609-6442 Teekay Offshore Partners L.P. Alana Duffy Media Enquiries + 1 (604) 844-6631 www.teekayoffshore.com