Teekay Tankers Ltd. Announces Pricing of
Public Offering of Class A Common Stock

Hamilton, Bermuda, October 1, 2010 - Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) announced today that it has priced its follow-on public offering of 8,200,000 shares of Class A common stock at $12.15 per share. The offering is expected to close on October 6, 2010, subject to customary closing conditions. Teekay Tankers has granted the underwriters a 30-day option to purchase up to an additional 1,230,000 shares to cover any over-allotments. The Company expects to use the net offering proceeds to repay a portion of its outstanding debt under its revolving credit facility.

Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers currently owns a fleet of eight double-hull Aframax tankers and five double-hull Suezmax tankers, which an affiliate of Teekay Corporation manages through a mix of short- or medium-term fixed-rate, time-charter and spot-tanker-market trading. Teekay Tankers intends to continue to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors.

Teekay Tankers' Class A common stock is listed on the New York Stock Exchange under the symbol "TNK."

The joint book running managers for the offering are Morgan Stanley, Deutsche Bank Securities and J.P. Morgan. The co-managers for the offering are DnB NOR Markets and Credit Suisse.

Teekay Tankers Ltd.