Second graph, first sentence of release dated July 25, 2007, should read: ...plans to host a conference call on Friday, August 3 at 11:00 a.m. (ET) (sted ...2:00 p.m. (ET)).

Also, third graph, first sentence should read: ...formed by Teekay Corporation (sted Teekay Shipping Corporation).

The corrected release reads:

TEEKAY OFFSHORE PARTNERS L.P. ANNOUNCES SECOND QUARTER 2007 EARNINGS CONFERENCE CALL

Teekay Offshore Partners L.P. (NYSE: TOO) plans to release its financial results for the second quarter of 2007 after market close on Wednesday, August 1, 2007.

The Partnership plans to host a conference call on Friday, August 3 at 11:00 a.m. (ET) to discuss the results for the quarter. All unitholders and interested parties are invited to listen to the live conference call by choosing any of the following options:

  • By dialing 866-215-0058 or 416-915-9616 if outside North America;
  • By accessing the webcast, which will be available on Teekay Offshore Partners 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 10, 2007 by dialing 866-245-6755 or 416-915-1035 and entering access code 456628.

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 Partners owns a 26.0% interest in and controls Teekay Offshore Operating L.P., a Marshall Islands limited partnership with a fleet of 38 shuttle tankers (including 12 chartered-in vessels), four floating storage and offtake units and nine conventional crude oil Aframax tankers. Teekay Offshore Partners L.P. also has rights to participate in certain floating production, storage and offloading (FPSO) opportunities involving Teekay Petrojarl ASA.

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

Teekay Offshore Partners L.P.
Investor Relations:
Dave Drummond, +1 604-609-6442
Media:
Kim Barbero, +1 604-609-4703
www.teekayoffshore.com