The Partnership's net income for the quarter ended September 30, 2009 was $7.1 million or $0.28 per limited partnership unit, which is $0.04 less than the $0.32 per unit from the previous quarter ended June 30, 2009, and $0.34 lower than the third quarter last year. This drop compared to last year is primarily due to the absence of profit sharing revenues and higher interest expenses.

Operating surplus for the quarter ended September 30, 2009 was $10.7 million, less than the $11.5 million from the second quarter of 2009 and lower than the $18.7 million from the third quarter of 2008. Operating surplus is a non-GAAP financial measure used by certain investors to measure the financial performance of the Partnership and other master limited partnerships. (Please see Appendix A for a reconciliation of this non-GAAP financial measure to net income.)

Revenues for the third quarter of 2009 were $30.5 million compared to $36.0 million of revenues in the third quarter of 2008. There were no profit sharing revenues in the third quarter of 2009 due to the depressed spot market for both product and crude tankers throughout this period. In the third quarter of 2008 the profit sharing revenues amounted to $6.6 million.

Total operating expenses for the third quarter of 2009 were $15.3 million, including $7.2 million paid to a subsidiary of Capital Maritime & Trading Corp. (Capital Maritime), the Partnership's sponsor, for the commercial and technical management of the fleet, $7.0 million in depreciation and $0.8 million in general and administrative expenses, compared to $13.9 million for the third quarter of 2008. Net interest expense and finance cost for the third quarter of 2009 totaled $8.1 million compared to $6.5 million for the third quarter of 2008. The increase in net interest expense and finance cost is due to the higher interest margin applicable to our loan facilities as of June 30th 2009 following the amendments to the terms of our loan agreements outlined in our press release of July 31st 2009 as well as an additional cost of $0.4 million, which is due to the increased funding costs of the banks, incurred in accordance with the terms of our loan agreements.

Tanker freight rates continued to come under pressure over the course of the third quarter 2009 reaching in certain segments of the tanker market multi year lows. Refinery utilization remains depressed as a result of the lower demand for refined products on either side of the Atlantic, which has negatively affected the demand for product tankers. The increase in the availability of spot tonnage and rising bunker prices had a further adverse affect on MR tanker spot earnings marking the worst third quarter since 1992 according to industry data. The Suezmax spot market showed pockets of strength over the third quarter compared to other tanker segments on the back of exports from former Soviet Union countries, but earnings still dropped to their lowest level for the quarter since 2002 as erratic exports out of Nigeria and decreased refinery utilization weighed heavily on earnings. The period and S&P markets continued to be illiquid with few transactions taking place at increasingly lower levels.

Ioannis Lazaridis, Chief Executive Officer and Chief Financial Officer of Capital Product Partners' general partner, said: "As a result of our long term chartering strategy, which has insulated us from one of the most depressed tanker spot markets of the last two decades, our results for the third quarter were sustained at levels substantially above those indicated by the currently prevailing spot market tanker charter rates."

As of September 30, 2009, the Partnership's long-term debt remained unchanged compared to the end of 2008 at $474.0 million and partners' equity was $158.3 million. The remaining undrawn amounts under the terms of our debt facilities currently stand at $246.0 million.

On October 26, 2009, the Board of Directors of the Partnership declared a cash distribution for the third quarter of 2009 of $0.41 per unit, which is equal to the distribution for the second quarter of 2009. The third quarter cash distribution will be paid on November 13, 2009 to unit holders of record on November 5, 2009.

Mr. Lazaridis concluded: "The tanker industry continues to face an adverse trade environment alongside a continuously tightening credit market neither of which shows any signs of near term improvement. The depressed spot tanker market, the potential vessel deliveries for the remainder of this year and for 2010 and the outlook for global oil demand in 2009, which remains weak (expected to drop by 1.9% or -1.7 mb/d versus 2008 according to IEA), are all factors likely to have a further adverse effect on tanker vessel prices and period rates in the short- to medium- term. We would like to reiterate that we have zero capital commitments to purchase or build vessels; we have amended a number of the terms in our loan facilities and our fleet's charter coverage for the remainder of 2009 and for 2010 stands at approximately 97% and 67%, respectively. However, the uncertain prospects for the rest of the year and the lack of tangible recovery signs for 2010 in the tanker market are all likely to have an adverse impact on our results and financial condition over time, particularly as vessels come up for rechartering."

Capital Product Partners will host a conference call to discuss its results today at 10:00 a.m. Eastern Time (U.S.). The public is invited to listen to the conference call by dialing +1 888 935 4575 (U.S. toll free), or +1 718 354 1387 (international); reference number 3440108#. Participants should dial in 10 minutes prior to the start of the call. The slide presentation accompanying the conference call will be available on the Partnership's website at www.capitalpplp.com. An audio webcast of the conference call will also be accessible through the website. The relevant links will be found in the Investor Relations section of the website.

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. Our vessels are under medium to long-term charters to BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group and Shell International Trading & Shipping Company Ltd.

For more information about the Partnership and to access or request a copy of its Annual Report, please visit our website: www.capitalpplp.com

Forward Looking Statement:

The statements in this press release that are not historical facts, including our expectations regarding developments in the markets and their effects, the effects on our financial condition and results, the effect of our vessels coming up for rechartering and our ability to recharter such vessels, our expectations regarding oil demand, our expected charter coverage rates for 2009 and 2010, our future commitments and the effect of the amendments to our credit facilities, 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.