Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it will present from approximately 3:00 p.m. to 3:30 p.m. (all times Eastern) at the Teekay 2012 Investor Day to be held on Monday, June 18, 2012 in the Vanderbilt Room at The Waldorf=Astoria, 301 Park Avenue, New York. The Vanderbilt Room is located on the lobby level at the Park Avenue entrance. Any investors interested in scheduling a one-on-one meeting with management should contact Emily Yee at 604-609-6437 or Emily.Yee@teekay.com.

Those attending in person are invited to arrive for lunch between 1:00 p.m. and 1:30 p.m., after which Kenneth Hvid, Teekay Corporation's Chief Strategy Officer and a Teekay Offshore Director, will present the Partnership's strategy, market outlook and financial position. The complete management presentation schedule for the Teekay 2012 Investor Day event is as follows:


Teekay Corporation                 1:30 p.m. - 2:45 p.m.              
Teekay Offshore Partners L.P.      3:00 p.m. - 3:30 p.m.              
Teekay LNG Partners L.P.           3:30 p.m. - 4:00 p.m.              
Teekay Tankers Ltd.                4:00 p.m. - 4:30 p.m.              

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

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production and storage services to the offshore oil industry focusing on the fast-growing, deepwater offshore oil regions of the North Sea and Brazil. Teekay Offshore owns interests in 40 shuttle tankers (including four chartered-in vessels and four committed newbuildings), three floating production, storage and offloading (FPSO) units, five floating storage and offtake (FSO) units and ten conventional oil tankers. Teekay Offshore has rights to participate in certain other FPSO and shuttle tanker opportunities provided by Teekay Corporation (NYSE:TK) and Sevan Marine ASA (OSLO:SEVAN). A majority of Teekay Offshore's fleet trades on long-term, stable contracts and it is structured as a publicly-traded master limited partnership.

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. Priscilla Sharun Media Enquiries + 1 (604) 844-6631 www.teekayoffshore.com

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