Capital Product Partners L.P. Announces Successful Rechartering
the MR Product Tanker M/T Arionas for 12 Months

ATHENS, GREECE, Jun 07, 2010 (MARKETWIRE via COMTEX News Network) -- Capital Product Partners L.P. (NASDAQ: CPLP) announced today that it had reached agreement with Capital Maritime & Trading Corp. to recharter the M/T Arionas for a period of 12 months (+/- 30 days) from the expected expiration of its current charter in June 2010.

The M/T Arionas (2006, MR product tanker, Hyundai MIPO Dockyard, 37,000dwt ICE Class 1A) was fixed at a gross rate of $12,000 per day ($11,850 net) with a subsidiary of Capital Maritime & Trading Corp., the Partnership's Sponsor. The charter is subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues earned for breaching the International Warranty Limits. The terms of the transaction were unanimously approved by the conflicts committee of the Partnership's Board of Directors, which is comprised entirely of independent directors. The vessel is expected to continue under its existing charter with BP Shipping Ltd. until its redelivery under the new charter.

Ioannis Lazaridis, Chief Executive and Chief Financial Officer of Capital Product Partners' general partner, said, "We are pleased to announce the new charter agreement for the M/T Arionas, at rates that are competitive to those currently available in the market and with a charter agreement that also contains profit sharing arrangements when the vessel trades on certain routes. An added benefit to the relatively short duration of the charter is that it allows us to capitalize on a potential upturn in rates in the medium term. Following today's announcement, the Partnership's fleet charter coverage stands at approximately 77% for 2010 and 47% for 2011, based on available revenue days."

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. The Partnership owns 19 vessels, including 16 modern MR tankers, two small product tankers and one suezmax crude oil tanker. Most of its 19 vessels are under medium- to long-term charters to BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group and Capital Maritime & Trading Corp.

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

Capital Product Partners L.P. press release