Capital Product Partners L.P. Announces the Successful Extension of the Charters of the MR Product Tankers M/T Agamemnon II and M/T Ayrton II
News Release
Capital Product Partners, L.P.
January 14, 2012
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<P align=left>ATHENS, Greece, January 13, 2012 - Capital Product Partners L.P.
(Nasdaq: CPLP) announced</P>
<P align=left>today the extension of the charters of both the M/T Agamemnon II
and the M/T Ayrton II to BP</P>
<P align=left>Shipping.</P>
<P align=left>The M/T Agamemnon II (2008 STX Offshore & Shipbuilding Co.,
51,238 dwt) was fixed to BP</P>
<P align=left>Shipping at a daily charter rate of $14,000 net for 12 months (+/-
1 month) and the charter is subject</P>
<P align=left>to a profit sharing arrangement which allows each party to share,
at a 50/50 percentage, additional</P>
<P align=left>revenues earned for breaching the Institute Warranty Limits. The
new charter rate will commence</P>
<P align=left>upon redelivery from the vessel's current charter, expected at the
end of January 2012, with earliest</P>
<P align=left>expected redelivery at the end of December 2012.</P>
<P align=left>The M/T Ayrton II (2009 STX Offshore & Shipbuilding Co.,
51,260 dwt) was fixed to BP Shipping</P>
<P align=left>for 24 months (+/- 1 month) at a daily charter rate of $14,000 net
for the first 12 month period and at a</P>
<P align=left>daily charter rate of $15,000 net for the second 12 month period.
The charter is subject to a profit</P>
<P align=left>sharing arrangement which allows each party to share, at a 50/50
percentage, additional revenues</P>
<P align=left>earned for breaching the Institute Warranty Limits. The new
charter rate will commence upon</P>
<P align=left>redelivery from the vessel's current charter, expected in April
2012, with earliest expected redelivery</P>
<P align=left>in March 2014.</P></FONT></FONT><B><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>About Capital Product Partners L.P.</P></B></FONT></FONT><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands
master limited partnership, is an</P>
<P align=left>international owner of modern double-hull tankers. The Partnership
currently owns 27 vessels,</P>
<P align=left>including two VLCCs (Very Large Crude Carriers), four Suezmax
crude oil tankers, 18 modern MR</P>
<P align=left>tankers, two small product tankers and one capesize bulk carrier.
Most of its vessels are under</P>
<P align=left>medium- to long-term charters to BP Shipping Limited, Overseas
Shipholding Group, Petrobras,</P>
<P align=left>Arrendadora Ocean Mexicana, S.A. de C.V., Cosco Bulk Carrier Co.
Ltd and Capital Maritime &</P>
<P>Trading Corp.</P></FONT></FONT></DIV></BODY></HTML>
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<DIV><FONT size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>ATHENS, Greece, January 13, 2012 - Capital Product Partners L.P.
(Nasdaq: CPLP) announced</P>
<P align=left>today the extension of the charters of both the M/T Agamemnon II
and the M/T Ayrton II to BP</P>
<P align=left>Shipping.</P>
<P align=left>The M/T Agamemnon II (2008 STX Offshore & Shipbuilding Co.,
51,238 dwt) was fixed to BP</P>
<P align=left>Shipping at a daily charter rate of $14,000 net for 12 months (+/-
1 month) and the charter is subject</P>
<P align=left>to a profit sharing arrangement which allows each party to share,
at a 50/50 percentage, additional</P>
<P align=left>revenues earned for breaching the Institute Warranty Limits. The
new charter rate will commence</P>
<P align=left>upon redelivery from the vessel's current charter, expected at the
end of January 2012, with earliest</P>
<P align=left>expected redelivery at the end of December 2012.</P>
<P align=left>The M/T Ayrton II (2009 STX Offshore & Shipbuilding Co.,
51,260 dwt) was fixed to BP Shipping</P>
<P align=left>for 24 months (+/- 1 month) at a daily charter rate of $14,000 net
for the first 12 month period and at a</P>
<P align=left>daily charter rate of $15,000 net for the second 12 month period.
The charter is subject to a profit</P>
<P align=left>sharing arrangement which allows each party to share, at a 50/50
percentage, additional revenues</P>
<P align=left>earned for breaching the Institute Warranty Limits. The new
charter rate will commence upon</P>
<P align=left>redelivery from the vessel's current charter, expected in April
2012, with earliest expected redelivery</P>
<P align=left>in March 2014.</P></FONT></FONT><B><FONT size=3
face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>About Capital Product Partners L.P.</P></B></FONT></FONT><FONT
size=3 face="Times New Roman"><FONT size=3 face="Times New Roman">
<P align=left>Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands
master limited partnership, is an</P>
<P align=left>international owner of modern double-hull tankers. The Partnership
currently owns 27 vessels,</P>
<P align=left>including two VLCCs (Very Large Crude Carriers), four Suezmax
crude oil tankers, 18 modern MR</P>
<P align=left>tankers, two small product tankers and one capesize bulk carrier.
Most of its vessels are under</P>
<P align=left>medium- to long-term charters to BP Shipping Limited, Overseas
Shipholding Group, Petrobras,</P>
<P align=left>Arrendadora Ocean Mexicana, S.A. de C.V., Cosco Bulk Carrier Co.
Ltd and Capital Maritime &</P>
<P>Trading Corp.</P></FONT></FONT></DIV></BODY></HTML>