Capital Product Partners L.P. Announces Cash Distribution

Capital Product Partners L.P. (Nasdaq:CPLP) today announced that its board of directors has declared a cash distribution of $0.41 per unit for the first quarter ended March 31, 2009.

The first quarter cash distribution is equal to the third quarter 2008 cash distribution paid prior to the payment of the exceptional non-recurring distribution of $1.05 per unit paid for the fourth quarter of 2008. The Partnership has previously stated its intention to revert to unit distribution levels more consistent with prior periods after paying the exceptional non-recurring cash distribution for the previous quarter. The minimum quarterly distribution at the time of the IPO was set at $0.375 per unit.

The cash distribution for the first quarter is payable on May 15, 2009, to unitholders of record on May 7, 2009.

About Capital Product Partners L.P.

Capital Product Partners L.P. (Nasdaq:CPLP), a Marshall Islands master limited partnership, is an international owner of modern double-hull tankers. Capital Product Partners L.P. owns 18 modern vessels, comprising 15 MR tankers, two small product tankers and one Suezmax crude oil tanker. All 18 vessels are under medium to long-term charters to BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group, Shell International Trading & Shipping Company Ltd. and Trafigura Beheer B.V.

For more information about the Partnership, please visit our website: www.capitalpplp.com.

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 stated or forecasted results to be materially different from those anticipated. Unless required by law, we expressly disclaim 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, to conform them to actual results or otherwise. We assume no responsibility for the accuracy and completeness of the forward-looking statements. We make no prediction or statement about the performance of our common units.

CPLP-F

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SOURCE: Capital Product Partners L.P.

Capital GP L.L.C.
          Ioannis Lazaridis, CEO and CFO
          +30 (210) 4584 950
          i.lazaridis@capitalpplp.com

          Capital Maritime & Trading Corp.
          Jerry Kalogiratos
          +30 (210) 4584 950
          j.kalogiratos@capitalpplp.com

Related terms: crude oil, law, marshall islands, nasdaq, partnership, shipping