Sep 12, 2007

Capital Product Partners L.P. Announces Intention to Acquire Product Tanker M/T Attikos

ATHENS, Greece, Sep 12, 2007 (PrimeNewswire via COMTEX News Network) --

Capital Product Partners L.P. (Nasdaq:CPLP) announced today that the company has signed a non-binding letter of intent to acquire the 12,000dwt double hull product tanker M/T Attikos, built in 2005, for an aggregate proposed purchase price of $23 million from Capital Maritime & Trading Corp., the owner of its general partner. M/T Attikos is chartered to Trafigura Beheer B.V., a large commodities trader based in The Netherlands with a remaining charter term of approximately 24 to 26 months at the gross rate of $13,850 per day (net rate $13,503). The operating expenses will be fixed for the next 5 years at a daily rate of $5,500, which includes the special survey/dry docking of the vessel due in 2010. Capital Product Partners expects the annual contribution associated with the acquisition of M/T Attikos to the distributable cash flow to be approximately 4 cents per unit. The acquisition of M/T Attikos is subject to the execution of definitive agreements, the satisfaction of customary conditions to closing and approval by the conflicts committee and the Board of Directors of Capital Product Partners. The company intends to fund the acquisition by borrowing $20.5 million under its existing revolving credit facility and the remaining $2.5 million from available cash.

"We are pleased that Capital Product Partners is in the process of completing its first accretive acquisition 5 months after its initial public offering," stated Ioannis Lazaridis, the Chief Executive Officer and Chief Financial Officer of Capital Product Partners' general partner. "We are also very excited about the acquisition of M/T Attikos as it establishes the Partnership's presence in the 'small product tanker' segment, which we believe to be well supported by favourable industry fundamentals. The Partnership is well positioned to grow further in this segment, as Capital Maritime, the parent of our GP, currently owns an additional 12 small product tankers, one of which is currently in the water and 11 of which are under construction and expected to be delivered in 2008 and 2009."

 Vessel and Charter Details
 ------------  -----------  ----------  --------------  --------------
     Name      Deadweight      Built      Charterer          Net
 ------------  -----------  ----------  --------------  --------------
 M/T Attikos    12,000 MT     Baima        Trafigura       $13,503
                             Shipyard,    Beheer B.V.
 ------------  -----------  ----------  --------------  --------------

 ------------  -----------  ----------  --------------  --------------
    Name          OPEX        Profit       Earliest         Latest
                              Sharing     Redelivery      Redelivery
                                            under           under
                                           Charter         Charter
 ------------  -----------  ----------  --------------  --------------
 M/T Attikos     $5,500         No         9/12/2009      11/12/2009
                per day
                 for 5
 ------------  -----------  ----------  --------------  --------------

About Capital Product Partners L.P.

Capital Product Partners L.P. (Nasdaq:CPLP), a Marshall Islands master limited partnership, is an international owner of medium-range product tankers. Following the intended acquisition of the M/T Attikos, Capital Product Partners L.P. will own eleven product tankers, including ten Ice Class 1A MR tankers, and has an agreement to purchase five additional product tankers from Capital Maritime & Trading Corp. All sixteen vessels are under medium to long-term charters to BP Shipping Limited, Morgan Stanley, Overseas Shipholding Group Inc and Trafigura Beheer B.V.

Forward-Looking Statements

The statements in this press release that are not historical facts may be forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. Capital Product Partners L.P. expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common units.


This news release was distributed by PrimeNewswire,

SOURCE: Capital Product Partners L.P.

Capital GP L.L.C.
          Ioannis Lazaridis, Chief Executive Officer and 
           Chief Financial Officer
          +30 (210) 4584 950

          Capital Maritime & Trading Corp.
          Jerry Kalogiratos, Commercial Officer
          +30 (210) 4584 950

          RF Binder Partners Inc.
          Robert Ferris
          +1 (212) 994-7505

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