Capital Product Partners Buys Two Vessels from CMTC, Sold Two VLCC Tankers

Capital Product Partners L.P.

today announced that it acquired from Capital Maritime & Trading Corp. ('CMTC') two post panamax container vessels, the M/V 'Archimidis' (7,943TEU, built 2006 Daewoo Shipbuilding, S. Korea) and the M/V 'Agamemnon' (7,943TEU, built 2007 Daewoo Shipbuilding, S. Korea). Both the M/V 'Archimidis' and the M/V 'Agamemnon' are employed on time charters with the industry leader A.P. Moller-Maersk A.S. ('Maersk Line') at a gross day rate of US$34,000 per day with earliest redelivery in November 2015 and August 2015, respectively. Maersk Line has the option to extend the charter of both vessels for an additional four years at a gross day rate of US$31,500 and $30,500 per day, respectively for the fourth and fifth year and $32,000 per day for the final two years. If all options were to be exercised, the employment of the vessels would extend to July 2019 for the M/V 'Agamemnon' and December 2019 for the M/V 'Archimidis.' As consideration for the acquisition of the two container vessels, CPLP contributed the VLCC tankers M/T 'Alexander The Great' (297,958 dwt, built 2010 Universal Shipbuilding Corporation, Japan) and the M/T 'Achilleas' (297,863 dwt, built 2010 Universal Shipbuilding Corporation, Japan) to CMTC, both of which were under charter to CMTC at $28,000 per day. The transaction has been unanimously recommended by the Partnership's Conflicts Committee and unanimously approved by the Partnership's Board. The effective date of the transaction was December 22, 2012. As a result of this transaction, the Partnership repaid $5.2 million in debt. CMTC has waived any compensation for the early termination of the charters of M/T 'Alexander the Great' and M/T 'Achilleas.' The transaction is expected to generate a non-cash book loss which will not impact cash flow or the Partnership's distribution capability. Extension of M/T 'Arionas' Time Charter In addition to the above transaction, the M/T Arionas (36,725dwt, Ice 1A IMO II/III, built 2006 Hyundai Mipo Dockyard Co Ltd) has extended its employment with CMTC for an additional 12 months (+/- 30 days) at an increased gross rate of $13,800 per day with earliest expected redelivery in September 2013.