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

Capital ProductPartners L.P. (NASDAQ: CPLP) today announced that it acquired fromCapital Maritime & Trading Corp. ('CMTC') two post panamax containervessels, the M/V 'Archimidis' (7,943TEU, built 2006 DaewooShipbuilding, S. Korea) and the M/V 'Agamemnon' (7,943TEU, built 2007Daewoo Shipbuilding, S. Korea). Both the M/V 'Archimidis' and the M/V'Agamemnon' are employed on time charters with the industry leaderA.P. Moller-Maersk A.S. ('Maersk Line') at a gross day rate ofUS$34,000 per day with earliest redelivery in November 2015 andAugust 2015, respectively. Maersk Line has the option to extend the charter of both vessels for an additional four years at a gross dayrate of US$31,500 and $30,500 per day, respectively for the fourthand fifth year and $32,000 per day for the final two years. If alloptions were to be exercised, the employment of the vessels wouldextend to July 2019 for the M/V 'Agamemnon' and December 2019 for theM/V 'Archimidis.' As consideration for the acquisition of the two container vessels,CPLP contributed the VLCC tankers M/T 'Alexander The Great' (297,958dwt, built 2010 Universal Shipbuilding Corporation, Japan) and theM/T 'Achilleas' (297,863 dwt, built 2010 Universal ShipbuildingCorporation, Japan) to CMTC, both of which were under charter to CMTCat $28,000 per day. The transaction has been unanimously recommended by the Partnership'sConflicts Committee and unanimously approved by the Partnership'sBoard. The effective date of the transaction was December 22, 2012.As a result of this transaction, the Partnership repaid $5.2 millionin debt. CMTC has waived any compensation for the early terminationof the charters of M/T 'Alexander the Great' and M/T 'Achilleas.' Thetransaction is expected to generate a non-cash book loss which willnot 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, Ice1A IMO II/III, built 2006 Hyundai Mipo Dockyard Co Ltd) has extendedits employment with CMTC for an additional 12 months (+/- 30 days) atan increased gross rate of $13,800 per day with earliest expectedredelivery in September 2013.