HAMILTON, BERMUDA--(MARKET WIRE)--Jul 25, 2008 -- Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (TOO - News) today announced that its 2007 Annual Report on Form 20-F, including complete 2007 audited financial statements, was filed with the U.S. Securities and Exchange Commission (SEC) on April 11, 2008 and simultaneously made available on the Partnership's website, www.teekayoffshore.com.

Shareholders may receive a printed copy of the Annual Report free of charge upon request through the Partnership's website or by calling Teekay Offshore Investor Relations at +1 604 609 6442.

About Teekay Offshore

Teekay Offshore Partners L.P., a publicly-traded master limited partnership formed by Teekay Corporation (TK - News), is an international provider of marine transportation and storage services to the offshore oil industry. Teekay Offshore Partners currently owns a 51 percent interest in and controls Teekay Offshore Operating L.P., a Marshall Islands limited partnership with a fleet of 34 shuttle tankers (including nine chartered-in vessels), four floating storage and offtake units (FSO), and 11 conventional crude oil Aframax tankers. In addition, Teekay Offshore Partners L.P. has direct ownership interests in two shuttle tankers and one FSO. Teekay Offshore Partners also has rights to participate in certain floating production, storage and offloading (FPSO) opportunities.

Teekay Offshore Partners' common units trade on the New York Stock Exchange under the symbol "TOO".

     Contacts:
     Teekay Offshore Partners L.P.
     Kent Alekson
     Investor Relations Enquiries
     (604) 609-6442
      
     Teekay Offshore Partners L.P.
     Alana Duffy
     Media Enquiries
     (604) 844-6605
     Website: http://www.teekayoffshore.com