Teekay Offshore Partners L.P. Declares Distribution

HAMILTON, BERMUDA–(MARKET WIRE)–Aug 1, 2008 — Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (TOO – News), has declared a cash distribution of $0.40 per unit for the quarter ended June 30, 2008. The cash distribution is payable on August 14, 2008 to all unitholders of record on August 7, 2008.