Capital Product Partners L.P. Announces the Successful
Chartering of the M/T Axios to Petrobras for 12 Months

ATHENS, GREECE (MARKET WIRE) 03/08/11

Capital Product Partners L.P. (the "Partnership") (NASDAQ: CPLP), an international owner of modern double-hull tankers, today announced the successful chartering of the M/T Axios to Petroleo Brasileiro S.A. (Petrobras).

The M/T Axios (2007 Build, Hyundai Mipo 47,823 DWT, Ice Class 1A) was fixed at a gross daily charter rate of $13,500 to Petrobras for 12 months (+/- 30 days). The charter commenced on March 4th 2011, and the earliest expected redelivery is February 2012. The vessel was previously fixed with Capital Maritime & Trading Corp, our Sponsor, for a period of 12 months, which terminated on March 2nd 2011.

Mr. Ioannis Lazaridis, Chief Executive and Chief Financial Officer of the Partnership's General Partner commented: "We are very happy to further extend our successful relationship with Petrobras. We now have two of our vessels currently under charter with the oil major. As a result of today's announcement, the Partnership's fleet charter coverage stands at approximately 75% for 2011 and 49% for 2012, based on total 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 21 vessels, including 18 modern MR tankers, two small product tankers and one suezmax crude oil tanker. Most of its vessels are under medium- to long-term charters to BP Shipping Limited, Overseas Shipholding Group, Petroleo Brasileiro S.A., Arrendadora Ocean Mexicana, S.A. de C.V. and Capital Maritime & Trading Corp.

Capital Product Partners L.P. press release