<SEC-DOCUMENT>0000950123-11-057795.txt : 20110609
<SEC-HEADER>0000950123-11-057795.hdr.sgml : 20110609
<ACCEPTANCE-DATETIME>20110609132821
ACCESSION NUMBER:		0000950123-11-057795
CONFORMED SUBMISSION TYPE:	F-4
PUBLIC DOCUMENT COUNT:		20
FILED AS OF DATE:		20110609
DATE AS OF CHANGE:		20110609

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Capital Product Partners L.P.
		CENTRAL INDEX KEY:			0001392326
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		F-4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-174795
		FILM NUMBER:		11902778

	BUSINESS ADDRESS:	
		STREET 1:		3 IASSONOS STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			18537
		BUSINESS PHONE:		0030 210 458 4950

	MAIL ADDRESS:	
		STREET 1:		3 IASSONOS STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			18537
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-4
<SEQUENCE>1
<FILENAME>y91492fv4.htm
<DESCRIPTION>FORM F-4
<TEXT>
<HTML>
<HEAD>
<TITLE>fv4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <!-- XBRL,dc --><B>As filed with the Securities and Exchange
    Commission on June&#160;9, 2011</B>
</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><!-- /XBRL,dc -->Registration
    <FONT style="white-space: nowrap">No.&#160;333-&#160;&#160;&#160;&#160;&#160;&#160;</FONT></B>
</DIV>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION<BR>
    </FONT><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 18pt"><FONT style="white-space: nowrap">Form&#160;F-4</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">REGISTRATION
    STATEMENT</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">UNDER</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">THE SECURITIES ACT OF
    1933</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 24pt">CAPITAL PRODUCT PARTNERS
    L.P.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Exact name of Registrant as
    specified in its Charter)</FONT></I>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Capital Product Partners L.P.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Translation of
    Registrant&#146;s name into English)</FONT></I>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="center" valign="top">
    <B>Republic of the Marshall Islands</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>4412</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>N/A</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(State or other jurisdiction
    of<BR>
    incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(Primary Standard Industrial<BR>
    Classification Code Number)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(I.R.S. Employer<BR>
    Identification Number) </FONT></I>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>3 Iassonos Street</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Piraeus, 18537</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Greece</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Tel: +30 210
    <FONT style="white-space: nowrap">458-4950</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Address, including zip code,
    and telephone number, including area code, of Registrant&#146;s
    principal executive offices)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CT Corporation System<BR>
    111 Eighth Avenue<BR>
    New York, NY 10011<BR>
    +1 212
    <FONT style="white-space: nowrap">894-8440</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Name, address, including zip
    code, and telephone number, including area code, of agent for
    service)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Copies of all communications to:</I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="center" valign="top">
    <B>J. Mark Metts,&#160;Esq.<BR>
    Angela Olivarez,&#160;Esq.<BR>
    Jones Day<BR>
    717 Texas<BR>
    Houston, TX 77002<BR>
    +1 832
    <FONT style="white-space: nowrap">239-3939</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>J. Vincent Kendrick,&#160;Esq.<BR>
    Akin Gump Strauss Hauer &#038;<BR>
    Feld LLP<BR>
    1111 Louisiana Street<BR>
    Houston, TX 77002<BR>
    +1 713 220-5248</B>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>Jay Clayton,&#160;Esq.<BR>
    Sullivan &#038; Cromwell LLP<BR>
    125 Broad Street<BR>
    New York, NY 10004<BR>
    +1 212 558-4000</B>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Approximate date of commencement of proposed sale of the
    securities to the public:&#160;&#160;As soon as practicable
    after the effective date of this registration statement.</B>
</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this Form is filed to register additional securities for an
    offering pursuant to Rule&#160;462(b) under the Securities Act,
    check the following box and list the Securities Act registration
    statement number of the earlier effective registration statement
    for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(d) under the Securities Act, check the following
    box and list the Securities Act registration statement number of
    the earlier effective registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">CALCULATION
    OF REGISTRATION FEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="52%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutterright -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Title of Each Class of Securities<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Amount to be<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Offering Price per<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Amount of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Registered (1)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Unit</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Offering Price (2)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Registration Fee (3)</B>
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom" style="border-top: 1px solid #000000">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP common units
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    13,899,400
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    N/A
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    $
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    173,881,494
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    $
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 1px solid #000000">
    20,187.64
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR style="font-size: 1pt">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
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</TABLE>

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</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER><DIV style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (1)&#160;
</TD>
    <TD align="left">    Calculated based on the maximum number of shares of Crude common
    stock that the registrant currently expects to allocate to Crude
    shareholders resident in the United States in connection with
    the proposed merger described in this registration statement.
    The shares to be allocated in connection with the proposed
    merger outside the United States, which include all of the
    shares of Crude Class&#160;B Stock, are not registered under
    this registration statement.
</TD>
</TR>





<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (2)&#160;
</TD>
    <TD align="left">    Pursuant to Rules&#160;457(f)(1) and 457(c) under the
    U.S.&#160;Securities Act of 1933, as amended (the
    &#147;Securities Act&#148;) and solely for the purpose of
    calculating the registration fee, the proposed maximum aggregate
    offering price is equal to the aggregate market value of the
    approximate number of shares of Crude common stock and Crude
    Class&#160;B stock to be exchanged for CPLP common units in the
    proposed merger (calculated as set forth in note (1)&#160;above)
    based upon a market value of $12.51 per shares of Crude common
    stock, the average of the high and low sale prices per share of
    Crude common stock on the New York Stock Exchange on
    June&#160;7, 2011.
</TD>
</TR>





<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (3)&#160;
</TD>
    <TD align="left">    Calculated at a rate equal to 0.0001161 multiplied by the
    proposed maximum aggregate offering price.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON
    SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE
    DATE UNTIL THE REGISTRANT SHALL FILE AN AMENDMENT WHICH
    SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL
    THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION&#160;8(A)
    OF THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES
    ACT&#148;), OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME
    EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO
    SAID SECTION&#160;8(A), MAY DETERMINE.</B>
</DIV>

<DIV style="margin-top: 5pt; font-size: 1pt">&nbsp;</DIV>

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<TABLE style="color: #FF0000" width="100%" border="1" cellpadding="5"><TR><TD>
<FONT style="font-size: 8pt; font-family: Arial, Helvetica; color: #E8112D">The
information in this preliminary proxy statement/prospectus is
not complete and may be changed. CPLP may not sell these
securities until the registration statement filed with the
Securities and Exchange Commission, in which this proxy
statement/prospectus is included, is declared effective. This
preliminary proxy statement/prospectus is not an offer to sell
these securities and it is not soliciting an offer to buy these
securities in any jurisdiction where the offer or sale of these
securities is not permitted.<BR>
</FONT>
</TD></TR></TABLE>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 9pt; color: #E8112D">Subject to
    Completion</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 9pt; color: #E8112D">Preliminary
    Proxy Statement/Prospectus, dated June&#160;9, 2011</FONT></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <IMG src="y91492y9149200.gif" alt="CRUDE CARRIERS LOGO"><B><FONT style="font-family: 'Times New Roman', Times">
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dear Shareholder:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On behalf of the Board of Directors (the &#147;Crude
    Board&#148;) of Crude Carriers Corp. (&#147;Crude&#148;), we
    would like to invite you to the Special Meeting of Crude
    Shareholders to be held at Crude&#146;s offices located at 3
    Iassonos Street, Piraeus, 18537 Greece
    on&#160;&#160;&#160;&#160;, 2011 to consider and vote upon,
    among other items described in the enclosed Notice of Special
    Meeting, a proposal to approve the merger agreement that Crude
    signed with Capital Product Partners L.P., a limited partnership
    organized under the laws of the Republic of the Marshall Islands
    (&#147;CPLP&#148;), Capital GP L.L.C., a limited liability
    company organized under the laws of the Republic of the Marshall
    Islands (&#147;Capital GP&#148;), and Poseidon Project Corp., a
    corporation organized under the laws of the Republic of the
    Marshall Islands and a wholly-owned subsidiary of CPLP
    (&#147;MergerCo&#148;), on May&#160;5, 2011. Following
    completion of the merger of MergerCo with and into Crude under
    the Marshall Islands Business Corporations Act
    (&#147;MIBCA&#148;), Crude will become a wholly-owned subsidiary
    of CPLP (the &#147;merger&#148; or the &#147;proposed
    transaction&#148;).
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As defined and described in more detail under &#147;The Merger
    Agreement&#160;&#151; Terms of the Merger; Merger
    Consideration&#148; below, in the merger, each share of common
    stock of Crude, par value $0.0001 per share (&#147;Crude common
    stock&#148;) and each share of Class&#160;B stock of Crude, par
    value $0.0001 per share (&#147;Crude Class&#160;B stock&#148;),
    will be converted into the right to receive 1.56 common units of
    CPLP (&#147;CPLP common units&#148;). CPLP will deliver up to an
    aggregate of approximately 24,967,275 CPLP common units to Crude
    shareholders in connection with the merger.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP common units are listed on Nasdaq under the symbol
    &#147;CPLP.&#148; The closing price of the CPLP common units on
    Nasdaq on June&#160;7, 2011, the last practicable trading date
    prior to the filing with the Securities and Exchange Commission
    (&#147;SEC&#148;) of the registration statement in which this
    proxy statement/prospectus is included, was $8.35. The Crude
    common stock is currently listed on the New York Stock Exchange
    (&#147;NYSE&#148;) under the symbol &#147;CRU.&#148; The Crude
    common stock will be delisted upon completion of the merger. The
    closing price of the Crude common stock on the NYSE on
    June&#160;7, 2011 was $12.64.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger was negotiated by the Independent Directors&#146;
    Committee of the Crude Board (the &#147;Crude Independent
    Committee&#148;). After review and consultation with its
    independent legal and financial advisors, the Crude Independent
    Committee determined that the merger agreement and the
    transactions contemplated thereby, including the merger, are
    fair and reasonable to, and in the best interests of, holders of
    Crude common stock other than (i)&#160;CPLP, (ii)&#160;Capital
    GP, (iii)&#160;the officers and directors of Crude that are also
    officers or directors of CPLP or Capital GP, respectively, or
    affiliates of any of the foregoing or of Crude (collectively,
    the &#147;Unaffiliated Shareholders&#148;), and recommended to
    the Crude Board that it approve the merger agreement and the
    transactions contemplated thereby, including the merger. Upon
    such recommendation by the Crude Independent Committee, the
    Crude Board, by a unanimous vote of the seven directors present,
    determined that the merger agreement and the transactions
    contemplated thereby, including the merger, are fair and
    reasonable to, and in the best interests of, Crude and its
    shareholders, including the Unaffiliated Shareholders and
    adopted and approved the merger agreement and the transactions
    contemplated thereby, including the merger. <B>The Crude Board
    therefore recommends that you vote &#147;FOR&#148; approval of
    the merger agreement and the transactions contemplated by the
    merger agreement, including the merger.</B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consummation of the merger is subject to approval by the
    holders of a majority of the voting power of shares of Crude
    common stock and Crude Class&#160;B stock outstanding and
    entitled to vote at the special meeting, voting together as a
    single class; by the sole holder of shares of Crude Class&#160;B
    stock outstanding and entitled to vote at the special meeting,
    voting as a separate class; and by holders of a majority of the
    voting power of the shares of Crude common stock outstanding and
    entitled to vote at the special meeting that are held by
    Unaffiliated Shareholders, voting as a separate class. Evangelos
    M. Marinakis, Chairman of the Crude Board and CEO of Crude,
    Ioannis E. Lazaridis, President of Crude, Gerasimos G.
    Kalogiratos, CFO of Crude, and Crude Carriers Investments Corp.
    (&#147;CCIC&#148;), holder of all of the outstanding shares of
    Crude Class&#160;B stock, have entered into a support agreement
    pursuant to which they have agreed, subject to certain
    conditions, to vote their shares in favor of the proposed
    transaction.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This proxy statement/prospectus provides Crude shareholders with
    detailed information about the special meeting of Crude
    shareholders, the merger agreement and the proposed transaction.
    You can also obtain information from publicly available
    documents filed with or furnished to the SEC by Crude and CPLP.
    We encourage you to read this entire document carefully. <B>In
    particular, you should carefully consider the section entitled
    &#147;Risk Factors&#148; beginning on page 22</B>.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We look forward to the successful combination of Crude and CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Sincerely yours,
</DIV>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude Carriers Corp.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Evangelos
    M. Marinakis</DIV>
</DIV>

<DIV style="font-size: 2pt; margin-left: 50%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Evangelos M. Marinakis
</DIV>

<DIV align="left" style="margin-left: 50%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Chairman and Chief Executive Officer</I>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Neither the SEC nor any state securities regulator has
    approved or disapproved of the merger, passed upon the merits or
    fairness of the merger or passed upon the adequacy or accuracy
    of the disclosure in this document. Any representation to the
    contrary is a criminal offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#160;This proxy statement/prospectus is dated June&#160;9, 2011
    and is expected to first be mailed to Crude shareholders
    on&#160;&#160;&#160;&#160;, 2011.
</DIV>
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<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Carriers Corp.<BR>
    <FONT style="font-size: 10pt">3 Iassonos Street<BR>
    Piraeus, 18537<BR>
    Greece</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">NOTICE OF SPECIAL MEETING OF
    SHAREHOLDERS<BR>
    TO BE HELD ON&#160;&#160;&#160;&#160;,&#160;&#160;&#160;&#160;
    [&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;],
    2011</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    NOTICE IS HEREBY given that a Special Meeting of Shareholders
    (the &#147;Special Meeting&#148;) of Crude Carriers Corp., a
    corporation organized under the laws of the Republic of the
    Marshall Islands (&#147;Crude&#148;), is scheduled to be held
    on&#160;&#160;&#160;&#160;,&#160;&#160;&#160;&#160; 2011
    at&#160;&#160;&#160;&#160; (Athens, Greece time) at Crude&#146;s
    offices at 3 Iassonos Street, Piraeus, 18537 Greece for the
    following purposes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;To consider and vote upon a proposal to adopt an
    agreement and plan of merger, dated as of May&#160;5, 2011, by
    and among Capital Product Partners L.P., a limited partnership
    organized under the laws of the Republic of the Marshall Islands
    (&#147;CPLP&#148;), Capital GP L.L.C. (&#147;Capital GP&#148;),
    a limited liability company organized under the laws of the
    Republic of the Marshall Islands, Poseidon Project Corp., a
    corporation organized under the laws of the Republic of the
    Marshall Islands and a wholly-owned subsidiary of CPLP
    (&#147;MergerCo&#148;), and Crude, pursuant to which each share
    of Crude common stock and Crude Class&#160;B stock will be
    automatically converted into the right to receive 1.56 CPLP
    common units, and to approve the merger of MergerCo with and
    into Crude, with Crude continuing as the surviving corporation,
    as a result of which Crude will become a wholly-owned subsidiary
    of CPLP (the &#147;merger&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;To consider and vote upon any proposal to adjourn the
    Special Meeting, if necessary, to permit further solicitation of
    proxies if there are not sufficient votes at the time of the
    Special Meeting to adopt the merger agreement and approve the
    proposed merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Notice and the proxy statement/prospectus describe the
    merger agreement and the proposed transaction in detail, and the
    proxy statement/prospectus includes, as Appendix&#160;A, the
    complete text of the merger agreement. We urge you to read these
    materials carefully for a complete description of the merger
    agreement and the proposed transaction. The proxy
    statement/prospectus forms a part of this Notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Independent Directors&#146; Committee (the &#147;Crude
    Independent Committee&#148;) of the Board of Directors of Crude
    (the &#147;Crude Board&#148;) (i)&#160;determined that the
    merger agreement and the transactions contemplated thereby,
    including the merger, are fair and reasonable to, and in the
    best interests of, the holders of Crude common stock other than
    (a)&#160;CPLP, (b)&#160;Capital GP, (c)&#160;the officers and
    directors of Crude that are also officers or directors of CPLP
    or Capital GP, respectively, or (d)&#160;affiliates of any of
    the foregoing or Crude (collectively, the &#147;Unaffiliated
    Shareholders&#148;), (ii)&#160;recommended to the Crude Board
    that it declare the advisability of, and approve, the merger
    agreement and the transactions contemplated thereby, including
    the merger, and (iii)&#160;recommended to the Crude Board that
    it recommend to the Crude shareholders that they adopt and
    approve the merger agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon such recommendation by the Crude Independent Committee, the
    Crude Board, by a unanimous vote of the seven directors present,
    (i)&#160;determined that the merger agreement and the
    transactions contemplated thereby, including the merger, are
    fair and reasonable to, and in the best interests of, Crude and
    its shareholders, including the Unaffiliated Shareholders,
    (ii)&#160;adopted and approved the merger agreement and the
    transactions contemplated thereby, including the merger, and
    (iii)&#160;resolved to recommend to the Crude shareholders that
    they approve the merger agreement and the transactions
    contemplated thereby, including the merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The Crude Board unanimously recommends that Crude
    shareholders vote &#147;FOR&#148; adoption of the merger
    agreement and approval of the transactions contemplated by the
    merger agreement, including the merger, and &#147;FOR&#148; the
    proposal to adjourn the Special Meeting, if necessary, to
    solicit additional proxies if there are not sufficient votes to
    adopt the merger agreement and approve the merger.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger must be approved by: (i)&#160;holders of a majority
    of the voting power of the shares of Crude common stock and
    Crude Class&#160;B stock outstanding and entitled to vote at the
    Special Meeting, voting together as a single class; (ii)&#160;by
    the sole holder of the shares of Crude Class&#160;B stock
    outstanding and entitled
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to vote at the Special Meeting, voting as a separate class; and
    (iii)&#160;by the holders of a majority of the voting power of
    the shares of Crude common stock outstanding and entitled to
    vote at the Special Meeting that are held by the Unaffiliated
    Shareholders, voting as a separate class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to the merger, Evangelos M. Marinakis, Chairman of
    the Board and CEO of Crude, Ioannis E. Lazaridis, President of
    Crude, Gerasimos G. Kalogiratos, CFO of Crude, and Crude
    Carriers Investments Corp. (&#147;CCIC&#148;), holder of all of
    the outstanding shares of Crude Class&#160;B stock, have entered
    into a support agreement pursuant to which they have agreed to
    vote their shares in favor of the merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board has fixed the close of business
    on&#160;&#160;&#160;&#160;, 2011 as the record date for
    determining the shareholders entitled to notice of, and to vote
    at, the Special Meeting and any adjournment of the Special
    Meeting. Only shareholders of record as of the record date will
    be entitled to notice of and to vote at the Special Meeting.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">YOUR VOTE
    IS VERY IMPORTANT.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Your proxy is being solicited by the Crude Board. The merger
    agreement must be adopted and the merger must be approved by
    Crude shareholders in order for the proposed transaction to be
    consummated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Whether or not you plan to attend the Special Meeting in
    person, we urge you to vote your shares as promptly as possible
    by proxy by completing, signing and dating your proxy card and
    returning it in the postage-paid envelope provided, so that your
    shares may be represented and voted at the Special Meeting. If
    your shares are held in the name of a bank, broker or other
    fiduciary, please follow the instructions furnished by the
    record holder. You may revoke your proxy at any time before the
    Special Meeting. If you attend the Special Meeting and vote in
    person, your proxy vote will not be used.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Please do not send your Crude stock certificates at this
    time. If the proposed transaction is completed, you will be sent
    instructions regarding the surrender of your Crude stock
    certificates.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you have any questions about voting of your shares, please
    contact Crude&#146;s proxy solicitor, Morrow&#160;&#038; Co. LLC
    (&#147;Morrow&#148;), at +1 800
    <FONT style="white-space: nowrap">662-5200.</FONT>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By Order of the Board of Directors
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Evangelos M. Marinakis
</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Chairman and Chief Executive Officer
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    June&#160;9, 2011
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Important Notice Regarding the Availability of Proxy
    Materials</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>for the Shareholder Meeting to Be Held
    on&#160;&#160;&#160;&#160;, 2011:</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The proxy statement/prospectus is</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>available at
    <FONT style="white-space: nowrap">http://&#160;&#160;&#160;&#160;.</FONT></B>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="Y91492tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="95%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492101'>NOTE&#160;ON REFERENCES TO ADDITIONAL
    INFORMATION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    iv
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492102'>QUESTIONS AND ANSWERS ABOUT THE CRUDE SPECIAL
    MEETING</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    v
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492103'>SUMMARY</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492104'>The Companies</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492105'>Structure of the Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492106'>Recommendation to Crude&#146;s Shareholders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492107'>Crude&#146;s Reasons for the Proposed
    Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492108'>Opinion of the Crude Independent Committee&#146;s
    Financial Advisor</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492109'>Crude Special Meeting; Record Date; Required
    Vote</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492110'>Shares&#160;Owned by Directors and Executive
    Officers</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492111'>Interests of Certain Persons in the Proposed
    Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492112'>M/V Cape Agamemnon Acquisition</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492113'>Treatment of Crude Unvested Shares in the
    Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492114'>What Crude Shareholders Will Receive in the
    Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492115'>Conditions to Completion of the Proposed
    Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492116'>Termination of the Merger Agreement</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492117'>Termination Fees; Reimbursement of Expenses</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492118'>Acquisition Proposals and a Company Change in
    Recommendation</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492119'>Ownership of Combined Company after Completion of
    the Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492120'>Treatment of Existing Debt Facilities in the
    Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492121'>Material United States Federal Income Tax
    Consequences to Crude Shareholders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492122'>Regulatory Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492123'>Appraisal Rights of Dissenting Shareholders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492124'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492125'>Listing and Trading of CPLP Common Units after
    Completion of the Proposed Transaction; Delisting of Crude
    Common Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492126'>Comparison of Rights of Shareholders of Crude and
    Unitholders of CPLP</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492127'>Comparative Stock Prices and Dividends</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492128'>SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA
    OF CPLP</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492129'>SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA
    OF CRUDE</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492130'>SELECTED UNAUDITED PRO FORMA CONDENSED COMBINED
    FINANCIAL DATA</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492131'>RISK FACTORS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492132'>RISKS RELATING TO THE PROPOSED TRANSACTION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492133'>RISKS RELATING TO THE BUSINESS AND OPERATIONS OF
    THE COMBINED COMPANY</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492134'>RISK RELATING TO FINANCING ACTIVITIES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492135'>RISK RELATING TO CPLP&#146;s COMMON UNITS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492136'>SPECIAL NOTE&#160;REGARDING FORWARD-LOOKING
    STATEMENTS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492137'>THE CRUDE SPECIAL MEETING</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492138'>General</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492139'>Date, Time and Place</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492140'>Purpose of the Crude Special Meeting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492141'>Recommendation of Crude Independent Committee</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492142'>Recommendation of Crude Board of Directors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492143'>Record Date; Who is Entitled to Vote</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="95%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492144'>Quorum</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492145'>Abstentions and Broker Non-Votes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492146'>Vote of Our Shareholders Required</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492147'>Voting Your Shares</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492148'>Revoking Your Proxy</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492149'>No Additional Matters May Be Presented at the
    Special Meeting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492150'>Appraisal Rights</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492151'>Proxies and Proxy and Consent Solicitation
    Costs</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492152'>Crude Support Agreement</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492153'>Representatives of Deloitte. Hadjipavlou,
    Sofianos&#160;&#038; Cambanis S.A.&#160;</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492154'>Who Can Answer Your Questions About Voting Your
    Shares</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492155'>THE PROPOSED TRANSACTION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492156'>The Companies</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492157'>Structure of the Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492158'>Background of the Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492159'>Recommendation of the Crude Independent Committee
    and the Crude Board; Crude&#146;s Reasons for the Proposed
    Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492160'>The Crude Independent Committee</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492161'>The Crude Board of Directors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    59
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492218'>Opinion of the Crude Independent Committee&#146;s
    Financial Advisor</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492162'>Transaction Overview</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492163'>Crude Analysis</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492164'>Interests of Crude&#146;s Directors and Executive
    Officers in the Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492165'>Indemnification</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492166'>Continuing Board and Management Positions</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492167'>Listing of CPLP Common Units; Deregistration and
    Delisting of Crude Common Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492168'>Distribution and Dividend Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492169'>Treatment of Existing Debt Facilities in the
    Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492170'>Marshall Islands Tax Considerations</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492171'>Material United States Federal Income Tax
    Consequences to Crude Shareholders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492172'>Tax Characterization of CPLP and Crude</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492173'>The Merger</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492174'>Ownership and Disposition of CPLP Common Units</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492175'>Medicare Tax</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492176'>Backup Withholding and Information Reporting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492177'>United States Federal Income Tax Considerations
    Relating to CPLP</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492178'>Accounting Treatment</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492179'>Principal Corporate Offices</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492180'>Executive Compensation Arrangements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492181'>Treatment of Crude Unvested Shares in the
    Proposed Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492182'>Resale of CPLP Common Units</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    85
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492183'>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS,
    DIRECTORS AND EXECUTIVE OFFICERS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492184'>Security Ownership of Certain Beneficial Owners,
    Directors and Executive Officers of Crude</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492185'>REGULATORY MATTERS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    87
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492186'>THE MERGER AGREEMENT</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    87
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    ii
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="95%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492187'>Terms of the Merger; Merger Consideration</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    88
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492188'>Completion of the Merger</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    88
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492189'>Exchange of Shares in the Merger</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    88
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492190'>Treatment of Crude Equity Awards</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492191'>Dissenters&#146; Rights</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492192'>Conduct of Business</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492193'>Representations and Warranties</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    90
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492194'>Efforts to Obtain Required Shareholder Votes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492195'>Acquisition Proposals and a Company Change in
    Recommendation</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492196'>Efforts to Complete the Merger</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492197'>Governance Matters after the Merger</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492198'>Other Covenants and Agreements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492199'>Conditions to Completion of the Proposed
    Transaction</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492200'>Termination of the Merger Agreement</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    96
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492201'>Termination Fees and Reimbursement of Expenses</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    96
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492202'>Waiver; Amendment</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492203'>Indemnification and Insurance; Rights of Third
    Parties</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#Y91492204'>Specific Performance</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492205'>COMPARATIVE STOCK PRICES AND DIVIDENDS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492206'>UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL
    INFORMATION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492207'>DESCRIPTION OF CPLP COMMON UNITS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    111
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492208'>COMPARISON OF RIGHTS OF SHAREHOLDERS OF CRUDE AND
    UNITHOLDERS OF CPLP</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    113
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492209'>APPRAISAL RIGHTS OF DISSENTING SHAREHOLDERS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492210'>LEGAL MATTERS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492211'>EXPERTS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492212'>FUTURE SHAREHOLDER PROPOSALS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492213'>WHERE YOU CAN FIND MORE INFORMATION</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    125
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492214'>INCORPORATION OF CERTAIN DOCUMENTS BY
    REFERENCE</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    125
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#Y91492215'>LIMITATIONS ON ENFORCEMENT OF U.S. LAWS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    127
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Appendix&#160;A&#160;&#151;&#160;Agreement and Plan of Merger
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Appendix&#160;B&#160;&#151;&#160;Opinion of
    Jefferies&#160;&#038; Company, Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    B-1
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    iii
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTE&#160;ON
    REFERENCES TO ADDITIONAL INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This proxy statement/prospectus incorporates business and
    financial information about Crude and CPLP from other documents
    that have not been included in or delivered with this proxy
    statement/prospectus. These documents are available to you
    without charge upon your written or oral request. You can obtain
    the documents incorporated by reference into this proxy
    statement/prospectus by accessing the Internet website
    maintained by the Securities and Exchange Commission (the
    &#147;SEC&#148;), at <U>www.sec.gov</U>, by accessing the
    investor relations website of Crude at
    <U>www.crudecarrierscorp.com</U> or of CPLP at
    <U>www.capitalpplp.com</U>, or by requesting copies in writing
    or by telephone from the appropriate company as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    Crude Carriers Corp.<BR>
    Attention: Secretary <BR>
    3 Iassonos Street <BR>
    Piraeus, 18537<BR>
    Greece<BR>
    +30 210 4584 900
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Capital Product Partners, L.P.<BR>
    Attention:  Secretary <BR>
    3 Iassonos Street <BR>
    Piraeus, 18537 <BR>
    Greece<BR>
    +30 210 4584 900
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>If you are a Crude shareholder and you would like to request
    any documents incorporated by reference into this proxy
    statement/prospectus, please do so by&#160;&#160;&#160;&#160;,
    2011 in order to receive them before the Crude special meeting.
    If you request any documents incorporated by reference into this
    proxy statement/prospectus from Crude or CPLP, those documents
    will be mailed to you promptly by first-class mail, or by
    similar means.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please see the section captioned &#147;Where You Can Find More
    Information&#148; beginning on page&#160;125 for additional
    information about the documents incorporated by reference into
    this proxy statement/prospectus.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    iv
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">QUESTIONS
    AND ANSWERS ABOUT THE CRUDE SPECIAL MEETING</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What is the purpose of this document?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     This document serves as Crude&#146;s proxy statement and as the
    prospectus of CPLP. As a prospectus, CPLP is providing this
    document to Crude shareholders because CPLP is offering its
    common units in exchange for shares of Crude common stock and
    Crude Class&#160;B stock. As a proxy statement, this document is
    being provided to Crude shareholders because the Crude Board is
    soliciting their proxies to vote to approve, at a special
    meeting of shareholders, the merger agreement, pursuant to which
    MergerCo will merge with and into Crude, with Crude continuing
    as the surviving company, as a result of which Crude will become
    a wholly-owned subsidiary of CPLP.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What matters will Crude shareholders be asked to vote on at
    the Crude special meeting?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
    There are two proposals on which Crude shareholders are being
    asked to vote:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;a proposal to approve and adopt the merger agreement
    and the transactions contemplated thereby, including the merger
    (the &#147;Merger Proposal&#148;); and</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;a proposal to adjourn the special meeting in the
    event Crude does not receive the requisite shareholder votes to
    approve the Merger Proposal (the &#147;Adjournment
    Proposal&#148;).</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> When and where is the special meeting of Crude
    shareholders?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     The special meeting of Crude shareholders will take place at
    Crude&#146;s offices located at 3 Iassonos Street, Piraeus,
    18537 Greece, on&#160;&#160;&#160;&#160;, 2011,
    at&#160;&#160;&#160;&#160; (Athens, Greece time).</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> How can I attend the Crude special meeting in person?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     If you wish to attend the meeting in person you must be present
    before&#160;&#160;&#160;&#160; (Athens, Greece time)
    on&#160;&#160;&#160;&#160;, 2011, at 3 Iassonos Street, Piraeus,
    18537 Greece for your identification as a holder of record of
    shares of Crude common stock. Doors open
    at&#160;&#160;&#160;&#160; (Athens, Greece time).</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Who may vote at the special meeting?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Only holders of record of shares of Crude common stock and
    Crude Class&#160;B stock entitled to vote in respect thereof as
    of the close of business on&#160;&#160;&#160;&#160;,
    2011&#160;may vote at the special meeting. As of June 8, 2011,
    there were 13,899,400&#160;shares of Crude common stock and
    2,105,263&#160;shares of Crude Class&#160;B stock outstanding
    and entitled to vote.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What is the quorum requirement for the special meeting?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     For purposes of the vote by the holders of shares of Crude
    common stock and Crude Class&#160;B stock, considered as a
    single class, the holders of a majority in total voting power of
    the shares of Crude common stock and Crude Class&#160;B stock
    issued and outstanding as of the record date entitled to vote at
    the special meeting of the shareholders, present in person or
    represented by proxy, shall constitute a quorum. For purposes of
    the vote by the holder of all of the outstanding shares of Crude
    Class&#160;B stock, the holders of a majority in total voting
    power of the shares of Crude Class&#160;B stock issued and
    outstanding as of the record date entitled to vote at the
    special meeting of the shareholders, present in person or
    represented by proxy, shall constitute a quorum. In the absence
    of a quorum, the Chairman of the meeting or the holders of a
    majority of the votes entitled to be cast by the shareholders of
    Crude common stock and Crude Class&#160;B stock, considered as a
    single class, who are present in person or by proxy may adjourn
    the meeting.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What is the required vote to approve and authorize the
    Merger?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     The merger must be approved by: (i)&#160;holders of a majority
    of the voting power of the shares of Crude common stock and
    Crude Class&#160;B stock outstanding and entitled to vote at the
    Special Meeting, voting together as a single class; (ii)&#160;by
    the sole holder of the shares of Crude Class&#160;B stock
    outstanding and entitled to vote at the Special Meeting, voting
    as a separate class; and (iii)&#160;by the holders of a majority </TD>
</TR>
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</TABLE>
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    <BR>
    v
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    of the voting power of the shares of Crude common stock
    outstanding and entitled to vote at the Special Meeting that are
    held by the Unaffiliated Shareholders, voting as a separate
    class.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    With respect to the merger, Evangelos M. Marinakis, Chairman of
    the Board and CEO of Crude, Ioannis E. Lazaridis, President of
    Crude, Gerasimos G. Kalogiratos, CFO of Crude, and CCIC, holder
    of all of the outstanding shares of Crude Class&#160;B stock,
    have entered into a support agreement pursuant to which they
    have agreed to vote their shares in favor of the merger.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What is the required vote to approve the Adjournment
    Proposal?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Under our amended and restated bylaws, the Chairman of the
    meeting or the holders of a majority of the votes entitled to be
    cast by the holders of Crude common stock and Crude Class&#160;B
    stock, considered as a single class, who are present in person
    or by proxy may adjourn the meeting.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Has the Crude Board recommended approval of the Merger
    Proposal and the other Proposals?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Yes. The Crude Board, acting on the recommendation of the Crude
    Independent Committee, has recommended, by a unanimous vote of
    the seven directors present, to Crude shareholders that they
    vote &#147;FOR&#148; the approval of the Merger Proposal and the
    Adjournment Proposal at the special meeting. After careful
    deliberation of the terms and conditions of these proposals, the
    Crude Board has determined that, the merger agreement and the
    transactions contemplated by the merger agreement, including the
    merger, are fair and reasonable to, and in the best interests
    of, Crude and its shareholders, including the Unaffiliated
    Shareholders. Please see &#147;The Proposed
    Transaction&#160;&#151; Background of the Proposed
    Transaction&#148; and &#147;The Proposed Transaction&#160;&#151;
    Recommendation of the Crude Independent Committee and the Crude
    Board; Crude&#146;s Reasons for the Proposed Transaction&#148;
    for a discussion of the factors that the Crude Board considered
    in deciding to recommend the approval and authorization of the
    merger.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What will I receive in the merger?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Pursuant to the merger agreement, each outstanding share of
    Crude common stock and Crude Class&#160;B stock will be
    converted into the right to receive 1.56 CPLP common units.
    Following completion of the merger, CPLP unitholders will own
    approximately 65% of the combined entity, with Crude
    shareholders owning the remaining approximately 35%.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> How can I vote?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Please vote your shares of Crude common stock as soon as
    possible after carefully reading and considering the information
    contained in this proxy statement/prospectus. You may vote your
    shares prior to the special meeting by signing and returning the
    enclosed proxy card. If you hold your shares in &#147;street
    name&#148; (which means that you hold your shares through a
    bank, brokerage firm or nominee), you must vote in accordance
    with the instructions on the voting instruction card that your
    bank, brokerage firm or nominee provides to you. If you want to
    attend the special meeting and vote in person, we will give you
    ballots when you arrive. However, if your shares are held in the
    name of your broker, bank or another nominee, you must get a
    proxy from such broker, bank or other nominee. That is the only
    way we can be sure that the broker, bank or nominee has not
    already voted your shares.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What does it mean if I get more than one proxy card?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     It means you have multiple accounts at the transfer agent
    and/or with brokers. Please sign and return all proxy cards to
    ensure that all of your shares of Crude common stock are voted.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> If my shares are held in &#147;street name&#148; by my bank,
    brokerage firm or nominee, will they automatically vote my
    shares for me?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     No.&#160;Your bank, brokerage firm or nominee cannot vote your
    shares without instructions from you. You should instruct your
    bank, brokerage firm or nominee how to vote your shares,
    following the instructions contained in the voting instruction
    card that your bank, brokerage firm or nominee provides to you.</TD>
</TR>

</TABLE>
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    <BR>
    vi
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What if I abstain from voting or fail to instruct my bank,
    brokerage firm or nominee how to vote my shares?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     If you neither attend the meeting, return your proxy card or
    instruct your bank, brokerage firm or nominee how to vote your
    shares, and your bank, brokerage firm or nominee does not have
    discretionary authority to vote on your behalf in the absence of
    instructions, your shares will not be treated as shares present
    for purposes of determining the presence of a quorum on any
    matter.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    If you do attend the meeting, return your proxy card, instruct
    your bank, brokerage firm or nominee how to vote your shares, or
    if your bank, brokerage firm or nominee has discretionary
    authority to vote on your behalf and either attend the meeting
    or return the proxy card, your shares will be treated as shares
    present for purposes of determining the presence of a quorum.
    For purposes of determining the presence of a quorum, it makes
    no difference whether you have instructed your bank, brokerage
    firm or nominee to vote for, against or abstain.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Proxies that are marked &#147;abstain&#148; and proxies relating
    to &#147;street name&#148; shares that are returned to us but
    marked by brokers as &#147;not voted&#148; will be treated as
    shares present for purposes of determining the presence of a
    quorum on all matters. The latter will not be treated as shares
    entitled to vote on the matter as to which authority to vote is
    withheld by the broker.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Why is my vote important?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     If you do not return your proxy card or vote in person at the
    special meeting, it will be more difficult for Crude to obtain
    the necessary quorum to hold the special meeting. In addition,
    the adoption and approval of the merger agreement and the
    transactions contemplated by the merger agreement, including the
    merger, require the affirmative votes of the holders of a
    majority of the voting power of the shares of Crude common stock
    and Crude Class&#160;B stock outstanding and entitled to vote at
    the Special Meeting, voting as a single class; the sole holder
    of the shares of Crude Class&#160;B stock outstanding and
    entitled to vote at the Special Meeting, voting as a separate
    class; and a majority of voting power of the shares of Crude
    common stock outstanding and entitled to vote at the Special
    Meeting that are held by the Unaffiliated Shareholders, voting
    as a separate class. Because these three required votes are
    based on a majority of all shares outstanding (i.e., not just a
    majority of the shares present at the meeting and voting), if
    you abstain from voting, or if you fail to vote or fail to
    instruct your bank, brokerage firm or nominee how to vote, that
    will make it more difficult to achieve the votes required to
    approve the Merger Proposal.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Can I change my vote after I have mailed my proxy card?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Yes. You may change your vote at any time before your proxy is
    voted at the special meeting. You may revoke your proxy by
    executing and returning a proxy card dated later than the
    previous one, or by attending the special meeting in person and
    casting your vote by ballot or by submitting a written
    revocation stating that you would like to revoke your proxy. If
    you hold your shares through a bank, brokerage firm or nominee,
    you should follow the instructions of your bank, brokerage firm
    or nominee regarding the revocation of proxies. You should send
    any notice of revocation or your completed new proxy card, as
    the case may be, to:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <B>Crude Carriers Corp.<BR>
    </B></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Investor Relations Representative <BR></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Nicolas Bornozis, President <BR>
    Capital Link, Inc. <BR>
    230 Park Avenue&#160;&#151; Suite&#160;1536<BR>
    New York, NY 10160, USA<BR>
    Tel: +1 212
    <FONT style="white-space: nowrap">661-7566</FONT><BR>
    <FONT style="white-space: nowrap">E-mail:</FONT>
    crudecarriers@capitallink.com</TD>
</TR>

</TABLE>
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    <BR>
    vii
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> When is the merger expected to occur?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Assuming the requisite shareholder approval is received, Crude
    expects that the merger will occur during the third quarter of
    2011.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> What happens if the merger is not consummated?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     If the merger agreement is not adopted by the shareholders of
    Crude or if the merger is not consummated for any other reason,
    the shareholders of Crude would not receive any payment for
    their shares of Crude common stock or Crude Class&#160;B stock
    in connection with the merger. Instead, Crude would remain an
    independent public company, and the Crude common stock would
    continue to be listed and traded on the NYSE. Under specified
    circumstances, Crude may be required to pay to CPLP a fee with
    respect to the termination of the merger agreement, as described
    under &#147;The Merger Agreement&#160;&#151; Termination Fees
    and Reimbursement of Expenses&#148; beginning on page&#160;96.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> May I seek statutory appraisal rights with respect to my
    shares?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of the Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Is the merger expected to be taxable to me?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     The merger has been structured to qualify as a reorganization
    for United States federal income tax purposes, and it is a
    condition to CPLP&#146;s and Crude&#146;s obligations to
    complete the merger that CPLP receive a legal opinion from a
    nationally recognized law firm, which is expected to be Akin
    Gump Strauss Hauer&#160;&#038; Feld LLP, and Crude receive a
    legal opinion from Sullivan&#160;&#038; Cromwell LLP, to the
    effect that the merger should qualify as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Internal Revenue Code of 1986, as
    amended (the &#147;Code&#148;). Provided that the merger
    qualifies as such, holders of Crude common stock generally will
    not recognize any gain or loss for United States federal income
    tax purposes on the exchange of their Crude common stock for
    CPLP common units pursuant to the merger, except for any gain or
    loss that may result from the receipt by such holders of cash
    instead of fractional CPLP common units.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    It is important to note that the United States federal income
    tax consequences described above may not apply to some holders
    of Crude common stock, including certain holders specifically
    referred to under &#147;Material United States Federal Income
    Tax Consequences to Crude Shareholders&#148; beginning on
    page&#160;73. Your tax consequences will depend on your
    individual situation. Accordingly, we strongly urge you to
    consult your tax advisor for a full understanding of the tax
    consequences of the merger in your particular circumstances, as
    well as any tax consequences that may arise from the laws of any
    other taxing jurisdiction.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Q: </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B> Where can I find more information about the companies?</B></TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    A: </TD>
    <TD></TD>
    <TD valign="bottom">
     You can find more information about Crude and CPLP in the
    documents described under &#147;Where You Can Find More
    Information&#148; and &#147;Incorporation of Certain Documents
    by Reference&#148; on page&#160;125 and on the website of each
    company at <U>www.crudecarrierscorp.com</U> for Crude and
    <U>www.capitalpplp.com</U> for CPLP.</TD>
</TR>

</TABLE>
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    <BR>
    viii
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<A name='Y91492103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>This summary highlights selected information from this proxy
    statement/prospectus and may not contain all the information
    that is important to you. To understand the merger agreement and
    the proposed transaction fully and for a more complete
    description of the legal terms of the merger, you should
    carefully read this entire proxy statement/prospectus and the
    other documents to which CPLP refers you, including in
    particular the copies of the merger agreement and the opinion of
    Jefferies&#160;&#038; Company, Inc. that are attached to this
    proxy statement/prospectus and incorporated by reference into
    this proxy statement/prospectus. Please see also &#147;Where You
    Can Find More Information&#148; and &#147;Incorporation of
    Certain Documents by Reference&#148; on page&#160;125. CPLP has
    included page references parenthetically to direct you to a more
    complete description of many of the topics presented in this
    summary.</I>
</DIV>

<A name='Y91492104'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Companies (page&#160;43)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Crude Carriers Corp.<BR>
    </B>3 Iassonos Street<BR>
    Piraeus, 18537<BR>
    Greece<BR>
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude Carriers Corp. is a corporation organized under the laws
    of the Republic of the Marshall Islands focusing on the maritime
    transportation of crude oil cargoes. It employs its vessels in
    the spot tanker market or under spot related employment. Crude
    owns a modern, high specification fleet of crude oil tankers,
    comprising two VLCCs (Very Large Crude Carriers) and three
    Suezmax tankers, with a weighted average age of 2.1&#160;years
    as of March&#160;31, 2011, and a total carrying capacity of
    approximately 1,058,344 dwt. Crude&#146;s vessels transport
    mainly crude oil and fuel oil along worldwide shipping routes.
    Capital Ship Management Corp., a subsidiary of Capital
    Maritime&#160;&#038; Trading Corp. (&#147;Capital
    Maritime&#148;), an international shipping company, serves as
    the manager of Crude&#146;s vessels. Currently three out of
    Crude&#146;s five vessels are employed with Shell International
    Trading&#160;&#038; Shipping Co. Ltd. (&#147;Shell&#148;) under
    spot index linked time charter arrangements, which are also
    subject to a profit sharing arrangement. Shares of Crude common
    stock have traded on the NYSE under the symbol &#147;CRU&#148;
    since Crude&#146;s initial public offering in March 2010. As of
    March&#160;31, 2011, Crude had approximately $414.1&#160;million
    in total assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Capital Product Partners L.P.<BR>
    </B>3 Iassonos Street<BR>
    Piraeus, 18537<BR>
    Greece<BR>
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Product Partners L.P. is a limited partnership organized
    under the laws of the Republic of the Marshall Islands, whose
    vessels trade on a worldwide basis and are capable of carrying
    crude oil, refined oil products, such as gasoline, diesel, fuel
    oil and jet fuel, as well as edible oils and certain chemicals
    such as ethanol. As of March&#160;31, 2011, CPLP&#146;s fleet
    consisted of 21 double-hull tankers with an average age of
    approximately 4.7&#160;years, including one of the largest Ice
    Class&#160;1A MR product tanker fleets in the world based on
    number of vessels and carrying capacity, with 83% of the fleet
    total days in the last nine months of 2011 secured under period
    charter coverage. In June 2011 CPLP is expected to begin
    operating one drybulk capesize vessel. Capital Ship Management
    Corp., a subsidiary of Capital Maritime, serves as the manager
    of CPLP&#146;s vessels. CPLP charters 19 of its 22&#160;vessels
    (including the capesize vessel) under medium- to long-term time
    and bareboat charters to large charterers such as BP Shipping
    Limited, Petroleo Brasileiro S.A., Capital Maritime and
    subsidiaries of Overseas Shipholding Group Inc. CPLP&#146;s
    common units trade on Nasdaq under the symbol &#147;CPLP.&#148;
    CPLP unitholders also receive reports on Form&#160;1099, as the
    partnership is treated as a
</DIV>
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    <BR>
    1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    corporation for U.S.&#160;tax purposes. As of March&#160;31,
    2011, CPLP had approximately $752.9&#160;million in total assets.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Capital GP L.L.C.<BR>
    </B>3 Iassonos Street<BR>
    Piraeus, 18537<BR>
    Greece<BR>
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital GP L.L.C. is a limited liability company organized under
    the laws of the Republic of the Marshall Islands. It is the
    general partner of CPLP and a wholly-owned subsidiary of Capital
    Maritime.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Poseidon Project Corp.<BR>
    </B>3 Iassonos Street<BR>
    Piraeus, 18537<BR>
    Greece<BR>
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Poseidon Project Corp. is a corporation incorporated under the
    laws of the Republic of the Marshall Islands and is a
    wholly-owned subsidiary of CPLP. This entity was recently formed
    for the sole purpose of effecting the merger.
</DIV>

<A name='Y91492105'>
<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Structure
    of the Proposed Transaction (page&#160;44)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides for the transaction described
    below. The merger agreement is attached to this document as
    Appendix&#160;A and is incorporated by reference into this proxy
    statement/prospectus. We urge you to read the merger agreement
    carefully and in its entirety, as it is the legal document that
    governs the proposed transaction and your rights and obligations
    in connection with the proposed transaction.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the merger agreement at the time the proposed
    transaction is completed:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    MergerCo will be merged with and into Crude, with Crude
    continuing as the surviving corporation, as a result of which
    Crude will become a wholly-owned subsidiary of CPLP;&#160;and
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each share of Crude common stock and Crude Class&#160;B stock
    will be automatically converted into the right to receive 1.56
    CPLP common units (the &#147;Crude exchange ratio&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, at the effective time of the proposed transaction:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude&#146;s amended and restated articles of incorporation and
    its amended and restated bylaws will be substantially in the
    forms attached as Annex&#160;B and Annex&#160;C to
    Appendix&#160;A of this proxy statement/prospectus;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s current directors and one current member of the
    Crude Independent Committee, which will be Dimitris
    Christacopoulos, will be the directors of CPLP immediately after
    the effective time of the proposed transaction, and Evangelos M.
    Marinakis will continue to serve as Chairman of the Board of
    CPLP, as described in the section captioned &#147;The Proposed
    Transaction&#160;&#151; Continuing Board and Management
    Positions&#148; beginning on page&#160;71;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s current officers will remain in their positions.
    There will be additional officers as described in the section
    captioned &#147;The Proposed Transaction&#160;&#151; Continuing
    Board and Management Positions&#148; beginning on page&#160;71;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s current headquarters will be the combined
    company&#146;s headquarters;&#160;and
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s common units will continue to be listed and traded
    on Nasdaq under the trading symbol &#147;CPLP.&#148; As promptly
    as practicable following completion of the transaction, CPLP
    will cause all shares of Crude common stock to be delisted from
    the NYSE.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP expect to incur approximately $4.0&#160;million
    and $4.0&#160;million, respectively, in fees and costs
    associated with consummating the proposed transaction.
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The structural organization of the companies before and after
    completion of the proposed transaction is illustrated on the
    following pages.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BEFORE
    THE PROPOSED TRANSACTION<BR>
    (as of March&#160;31, 2011)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="y91492y9149201.gif" alt="">
</DIV>
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    <BR>
    3
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    <IMG src="y91492y9149202.gif" alt="">
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    <BR>
    4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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    <IMG src="y91492y9149203.gif" alt="(PERFORMANCE GRAPH)">
</DIV>
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    <BR>
    5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492106'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    to Crude&#146;s Shareholders (page&#160;56)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board (consistent with the recommendation of the Crude
    Independent Committee) believes the merger agreement and the
    transactions contemplated by the merger agreement, including the
    merger, are fair and reasonable to, and in the best interests
    of, Crude and its shareholders, including the Unaffiliated
    Shareholders, and recommends that you vote &#147;FOR&#148; the
    Merger Proposal. When you consider the Crude Board&#146;s
    recommendation, you should be aware that Crude&#146;s directors
    may have interests in the transaction that may be different
    from, or in addition to, your interest. These interests are
    described in &#147;The Proposed Transaction&#160;&#151;
    Interests of Crude&#146;s Directors and Executive Officers in
    the Proposed Transaction.&#148;
</DIV>

<A name='Y91492107'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude&#146;s
    Reasons for the Proposed Transaction (page&#160;56)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In evaluating the proposed transaction, the Crude Independent
    Committee consulted its legal and financial advisors and, in
    making its recommendation, considered a number of factors,
    including those factors described under &#147;The Proposed
    Transaction&#160;&#151; Background of the Proposed
    Transaction,&#148; and &#147;The Proposed
    Transaction&#160;&#151; Recommendation of the Crude Independent
    Committee and the Crude Board; Crude&#146;s Reasons for the
    Proposed Transaction.&#148;
</DIV>

<A name='Y91492108'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Opinion
    of the Crude Independent Committee&#146;s Financial Advisor
    (page&#160;60)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee retained Jefferies&#160;&#038;
    Company, Inc. (&#147;Jefferies&#148;) to act as its financial
    advisor in connection with the merger and to render to the Crude
    Independent Committee an opinion as to the fairness of the Crude
    exchange ratio to the Unaffiliated Shareholders. At the meeting
    of the Crude Independent Committee on May&#160;5, 2011,
    Jefferies rendered its opinion to the Crude Independent
    Committee, to the effect that, as of that date, and based upon
    and subject to the assumptions made, procedures followed,
    matters considered and limitations on the scope of the review
    undertaken by Jefferies set forth in its opinion, the Crude
    exchange ratio was fair, from a financial point of view, to the
    Unaffiliated Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies&#146; opinion sets forth, among other things, the
    assumptions made, procedures followed, matters considered and
    limitations on the scope of the review undertaken by Jefferies
    in rendering its opinion. Jefferies&#146; opinion was directed
    to the Crude Independent Committee and addresses only the
    fairness, from a financial point of view and as of the date of
    the opinion, of the Crude exchange ratio to the Unaffiliated
    Shareholders. It does not address any other aspects of the
    merger and does not constitute a recommendation as to how any
    holder of Crude common stock or Crude Class&#160;B stock should
    vote on the merger or any matter related thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The full text of the written opinion of Jefferies is attached as
    Appendix&#160;B to this proxy statement/prospectus. Crude
    encourages its shareholders to read Jefferies&#146; opinion
    carefully and in its entirety.
</DIV>

<A name='Y91492109'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Special Meeting; Record Date; Required Vote
    (page&#160;39)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The special meeting of Crude shareholders is scheduled to be
    held on&#160;&#160;&#160;&#160;, 2011 at&#160;&#160;&#160;&#160;
    (Athens, Greece time) at&#160;&#160;&#160;&#160;. You are
    entitled to vote at the Crude special meeting if you were a
    holder of shares of Crude common stock at the close of business
    on&#160;&#160;&#160;&#160;, 2011, which is the record date for
    the Crude special meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The proposed transaction will not be consummated unless the
    merger agreement is approved and adopted, and the transactions
    contemplated by the merger agreement, including the merger, are
    approved, by the holders of a majority of the voting power of
    shares of Crude common stock and Crude Class&#160;B stock
    outstanding and entitled to vote at the Special Meeting, voting
    together as a single class; by the sole holder of shares of
    Crude Class&#160;B stock outstanding and entitled to vote at the
    Special Meeting, voting as a separate class; and by a majority
    of the voting power of the shares of Crude common stock
    outstanding and entitled to vote at the Special Meeting that are
    held by the Unaffiliated Shareholders, voting as a separate
    class.
</DIV>
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    <BR>
    6
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492110'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Shares&#160;Owned
    by Directors and Executive Officers (page&#160;71)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the record date for the Crude special meeting, the
    directors and executive officers of Crude beneficially
    owned&#160;&#160;&#160;&#160;&#160;shares of Crude common stock,
    which represented approximately&#160;&#160;&#160;&#160;% of the
    shares of Crude common stock outstanding on that date.
</DIV>

<A name='Y91492111'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Interests
    of Certain Persons in the Proposed Transaction
    (page&#160;71)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In considering the recommendations of the Crude Board
    (consistent with the recommendation of the Crude Independent
    Committee) with respect to the proposed transaction, you should
    be aware of the benefits available to the executive officers and
    directors of Crude in connection with the proposed transaction,
    and the potential conflicts of interest which they may have with
    Crude&#146;s shareholders. These individuals have certain
    interests in the proposed transaction that may be different
    from, or in addition to, the interests of Crude&#146;s
    shareholders. The Crude Independent Committee and the Crude
    Board were aware of these interests and considered them, among
    other matters, in making their recommendations. Information
    relating to the interests of Crude&#146;s directors and
    executive officers is located beginning on page&#160;71.
</DIV>

<A name='Y91492112'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">M/V Cape
    Agamemnon Acquisition</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;5, 2011, CPLP agreed to acquire from Capital
    Maritime 100% of the shares of capital stock of Patroklos Marine
    Corp. a corporation organized under the laws of the Republic of
    the Marshall Islands, that was the registered owner of the dry
    cargo vessel M/V Cape Agamemnon (the &#147;Cape Agamemnon&#148;)
    for a total consideration of approximately $98.5&#160;million,
    to be paid in a combination of CPLP common units and cash. CPLP
    will issue 6,958,000 CPLP common units to Capital Maritime based
    on a $10.35 price per unit, as part of the consideration for the
    acquisition of the Cape Agamemnon, and pay approximately
    $26.5&#160;million in cash. In connection with the transaction,
    Capital Maritime will cause Capital GP to contribute
    approximately $1.5&#160;million to CPLP in exchange for 142,000
    general partner units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Following the issuance of the CPLP common units in connection
    with the acquisition of the Cape Agamemnon and assuming the
    consummation of the merger, CPLP unitholders will own
    approximately 65% of the combined company, with Crude
    shareholders owning the remaining approximately 35% of the
    combined company (including 3,284,210 common units to be issued
    to CCIC). As a result of the two transactions, Capital Maritime,
    the owner of Capital GP, will own approximately 27.1% of the
    combined company, including ownership resulting from the general
    partnership interest in the combined company held by Capital GP
    and, collectively, Capital Maritime and CCIC would own
    approximately 31.7% of the combined company. Under the CPLP
    Partnership Agreement, Capital GP, which is owned by Capital
    Maritime, also has the right to contribute CPLP common units in
    return for general partner units in order to maintain a 2%
    general partner interest in CPLP. If the proposed transaction is
    consummated, shortly thereafter Capital GP expects to contribute
    approximately 499,346 CPLP common units in return for general
    partner units in order to maintain its 2% general partner
    interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The acquisition of the Cape Agamemnon entails or will subject
    CPLP to various risks. Please see the section captioned
    &#147;Risk Factors&#148; beginning on page&#160;22.
</DIV>

<A name='Y91492113'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Treatment
    of Crude Unvested Shares in the Proposed Transaction
    (page&#160;84)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has issued shares of Crude common stock subject to certain
    vesting requirements pursuant to the Crude 2010 Equity Incentive
    Plan, adopted March&#160;1, 2010 (the &#147;Crude Equity
    Plan&#148;). The proposed transaction will not have a
    substantial effect on any such outstanding shares under the
    Crude Equity Plan. The shares under the plan will be converted
    into equivalent grants with respect to CPLP common units and all
    the vesting requirements will remain the same. Notwithstanding
    the foregoing, the vesting requirements relating to the shares
    held by those members of the Crude Independent Committee who are
    not designated by Crude to serve as a member of the CPLP board
    of directors (the &#147;CPLP Board&#148;) (an aggregate of
    approximately 20,000&#160;shares of Crude common stock or the
    right to receive approximately 31,200&#160;CPLP common units)
    will lapse immediately prior to the effective time of the
    merger, and such shares will vest in full immediately prior to
    the effective time of the merger.
</DIV>
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    <BR>
    7
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492114'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">What
    Crude Shareholders Will Receive in the Proposed Transaction
    (page&#160;44)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude shareholders will receive 1.56 CPLP common units for each
    share of Crude common stock or Crude Class&#160;B stock they own.
</DIV>

<A name='Y91492115'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conditions
    to Completion of the Proposed Transaction
    (page&#160;95)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The obligations of CPLP and Crude to complete the merger are
    subject to the satisfaction of certain customary conditions,
    including the adoption of the merger agreement by Crude&#146;s
    shareholders, the accuracy of the representations and warranties
    of the parties, and compliance by the parties with their
    respective obligations under the merger agreement. The
    obligations of CPLP and Crude to complete the merger are subject
    to the satisfaction of certain other conditions, including
    authorization for the listing on the Nasdaq of the CPLP common
    units to be issued to Crude shareholders pursuant to the merger
    and the effectiveness of the amendments contemplated in the
    merger agreement to CPLP&#146;s second amended and restated
    limited partnership agreement (the &#147;CPLP Partnership
    Agreement&#148;) and CPLP&#146;s Omnibus Agreement (the
    &#147;CPLP Omnibus Agreement&#148;).
</DIV>

<A name='Y91492116'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Termination
    of the Merger Agreement (page&#160;96)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement may be terminated under the following
    circumstances:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by mutual written consent of Crude and CPLP;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by either Crude or CPLP upon written notice if:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the merger is not consummated by September&#160;30, 2011;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the merger is enjoined or otherwise prohibited by law;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude fails to obtain the requisite approvals;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the other party materially breaches certain provisions of the
    merger agreement.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by CPLP, upon written notice to Crude, in the event of a company
    change in recommendation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by Crude, upon written notice to CPLP, if Crude decides to
    accept a superior proposal (as defined in the merger agreement),
    as described in the merger agreement;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by CPLP, should any permanent injunction or court order
    (i)&#160;require or permit Crude to act or fail to act in a
    manner that would, in the absence of the injunction or court
    order, constitute a material violation of the non-solicitation
    provision of the merger agreement or (ii)&#160;reduce or
    otherwise limit the rights of CPLP, Capital GP or MergerCo in
    any material respect under such non-solicitation provision.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to certain procedural requirements, the Crude Board may
    withdraw or change its recommendation to the Crude shareholders
    with respect to the merger if the Crude Board determines that to
    do otherwise would be inconsistent with its fiduciary duties. In
    addition, subject to certain procedural requirements (including
    the ability of CPLP to revise its offer) and payment of the
    termination fee and expense reimbursement discussed below, Crude
    may terminate the merger agreement and enter into an agreement
    with a third party that makes a superior proposal. See the
    section captioned &#147;The Merger Agreement&#160;&#151;
    Termination of the Merger Agreement&#148; beginning on
    page&#160;96 for a discussion of these and other rights of each
    of Crude and CPLP to terminate the merger agreement.
</DIV>

<A name='Y91492117'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Termination
    Fees; Reimbursement of Expenses (page&#160;96)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger agreement is terminated in certain circumstances
    described under &#147;The Merger Agreement&#160;&#151;
    Termination Fees and Reimbursement of Expenses&#148; beginning
    on page&#160;96, Crude may be obligated to pay a termination fee
    of $9.0&#160;million less any expenses previously paid to CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger agreement is terminated by Crude because of
    CPLP&#146;s breach of its representations and warranties or
    covenants and agreements, CPLP will pay Crude the expenses of
    Crude incurred in connection
</DIV>
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    <BR>
    8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    with the merger, up to $3.0&#160;million. If the merger
    agreement is terminated by CPLP because of Crude&#146;s breach
    of its representations and warranties or covenants and
    agreements, Crude will pay CPLP the expenses of CPLP incurred in
    connection with the merger, up to $3.0&#160;million.
</DIV>

<A name='Y91492118'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Acquisition
    Proposals and a Company Change in Recommendation
    (page&#160;92)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides that Crude is not permitted to
    initiate, solicit, facilitate or encourage any acquisition
    proposal (as described in &#147;The Merger Agreement&#160;&#151;
    Acquisition Proposals and a Company Change in
    Recommendation&#148;), participate in any discussions or
    negotiations regarding, or furnish to any person any non-public
    information regarding, any acquisition proposal or waive any
    &#147;standstill&#148; agreement. Crude may furnish information
    to, or enter into or participate in discussions or negotiations
    with, any person that makes an unsolicited written acquisition
    proposal under certain circumstances described under &#147;The
    Merger Agreement&#160;&#151; Acquisition Proposals and a Company
    Change in Recommendation.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board may not (i)(A) withdraw, modify or qualify, in
    any manner adverse to CPLP, the company recommendation or
    (B)&#160;publicly approve or recommend any acquisition proposal
    or (ii)&#160;approve, adopt or recommend, or allow Crude or any
    of its subsidiaries to execute or enter into, any agreement or
    any tender or exchange offer in connection with, any acquisition
    proposal. Notwithstanding the foregoing, at any time prior to
    obtaining the approval of Crude&#146;s shareholders, the Crude
    Board may (x)&#160;make a company change in recommendation or
    (y)&#160;in connection with a superior proposal, terminate the
    merger agreement if it has concluded in good faith, after
    consultation with its outside legal counsel and financial
    advisors, that failure to take such action would constitute or
    would be reasonably likely to constitute a violation of its
    fiduciary duties to the shareholders under applicable law.
    However, the Crude Board will not be entitled to make a company
    change in recommendation pursuant to the previous sentence (or
    to terminate the merger agreement in order to enter into a
    transaction that the Crude Board has determined is a superior
    proposal) unless Crude and its subsidiaries comply with those
    procedures described under &#147;The Merger
    Agreement&#160;&#151; Acquisition Proposals and a Company Change
    in Recommendation.&#148;
</DIV>

<A name='Y91492119'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Ownership
    of Combined Company after Completion of the Proposed Transaction
    (page&#160;44)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the proposed transaction is consummated, then based on the
    number of shares of Crude common stock and Crude Class&#160;B
    stock outstanding on June&#160;8, 2011, CPLP would issue
    approximately 24,967,275 CPLP common units to Crude shareholders
    in the proposed transaction, including 3,284,210 common units to
    be issued to CCIC. As a result of the proposed transaction and
    CPLP&#146;s acquisition of the Cape Agamemnon, CPLP unitholders
    would own approximately 65% of the combined company and Crude
    shareholders would own approximately 35% of the combined
    company. Capital Maritime, the owner of Capital GP, would own
    approximately 27.1% of the combined company, including ownership
    resulting from the general partnership interest in the combined
    company held by Capital GP and, collectively, Capital Maritime
    and CCIC would own approximately 31.7% of the combined company.
    Under the CPLP Partnership Agreement, Capital GP, which is owned
    by Capital Maritime, also has the right to contribute CPLP
    common units in return for general partner units in order to
    maintain a 2% general partner interest in CPLP. If the proposed
    transaction is consummated, shortly thereafter Capital GP
    expects to contribute approximately 499,346 CPLP common units in
    return for general partner units in order to maintain its 2%
    general partner interest.
</DIV>

<A name='Y91492120'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Treatment
    of Existing Debt Facilities in the Proposed Transaction
    (page&#160;72)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Neither Crude nor CPLP anticipates drawing down on its credit
    facilities in connection with the consummation of the proposed
    transaction. The parties anticipate that, following the merger,
    CPLP may reach an arrangement with its lenders to draw down its
    existing credit facilities to refinance the debt of Crude&#146;s
    vessels unless CPLP obtains better or similar terms elsewhere,
    but this is subject to certain conditions and entails various
    risks. Please see the section captioned &#147;Risk Factors&#148;
    beginning on page&#160;22.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with CPLP&#146;s agreement to acquire the dry
    cargo vessel Cape Agamemnon from Capital Maritime, CPLP entered
    into a commitment letter with a financial institution for a
    credit facility of $25&#160;million in order to partially
    finance the acquisition of the shares of the vessel owning
    company of the Cape
</DIV>
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    <BR>
    9
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Agamemnon from Capital Maritime. This credit facility is
    <FONT style="white-space: nowrap">non-amortizing</FONT>
    until March&#160;31, 2013 and will be repaid in twenty equal
    consecutive quarterly installments commencing in June 2013 plus
    a balloon payment in March 2018. Loan commitment fees will be
    calculated at 0.50% per annum on any undrawn amount and will be
    paid quarterly. This credit facility will contain customary ship
    finance covenants and will be secured and guaranteed by the
    vessel owning company of the Cape Agamemnon.
</DIV>

<A name='Y91492121'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Material
    United States Federal Income Tax Consequences to Crude
    Shareholders (page&#160;73)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger has been structured to qualify as a reorganization
    for United States federal income tax purposes, and it is a
    condition to CPLP&#146;s and Crude&#146;s obligations to
    complete the merger that CPLP receive a legal opinion from a
    nationally recognized law firm, which is expected to be Akin
    Gump Strauss Hauer&#160;&#038; Feld LLP, and Crude receive a
    legal opinion from Sullivan&#160;&#038; Cromwell LLP, to the
    effect that the merger should qualify as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code. Provided that the merger
    qualifies as such, holders of Crude common stock generally will
    not recognize any gain or loss for United States federal income
    tax purposes on the exchange of their Crude Carries common stock
    for CPLP common units pursuant to the merger, except for any
    gain or loss that may result from the receipt by such holders of
    cash instead of fractional CPLP common units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    It is important to note that the United States federal income
    tax consequences described above may not apply to some holders
    of Crude common stock, including certain holders specifically
    referred to under the section captioned &#147;Material United
    States Federal Income Tax Consequences to Crude
    Shareholders&#148; beginning on page&#160;73. Your tax
    consequences will depend on your individual situation.
    Accordingly, we strongly urge you to consult your tax advisor
    for a full understanding of the tax consequences of the merger
    in your particular circumstances, as well as any tax
    consequences that may arise from the laws of any other taxing
    jurisdiction.
</DIV>

<A name='Y91492122'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Regulatory
    Matters (page&#160;87)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No further regulatory filings or approvals will be required for
    the completion of the merger other than the filing of the merger
    agreement with the Republic of the Marshall Islands corporate
    registry upon approval of the Merger Proposal by Crude
    shareholders.
</DIV>

<A name='Y91492123'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appraisal
    Rights of Dissenting Shareholders (page&#160;124)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of the Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.
</DIV>

<A name='Y91492124'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors (page&#160;22)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An investment in CPLP common units involves risks, some of which
    are related to the merger. In considering the proposed merger,
    you should carefully consider the information about these risks
    set forth under &#147;Risk Factors&#148; beginning on
    page&#160;22, together with the other information included or
    incorporated by reference in this proxy statement/prospectus.
</DIV>
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    <BR>
    10
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492125'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Listing
    and Trading of CPLP Common Units after Completion of the
    Proposed Transaction; Delisting of Crude Common Stock
    (page&#160;71)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP common units will continue to be listed on Nasdaq after
    completion of the proposed transaction. The Crude common stock
    will be delisted from the NYSE and deregistered under the
    Securities Exchange Act of 1934, as amended (the &#147;Exchange
    Act&#148;). Registration under the Exchange Act may be
    terminated upon application to the SEC if the shares of Crude
    common stock are neither listed on a national securities
    exchange nor held by 300 or more holders of record. As a result
    of such deregistration, Crude will no longer be required to file
    reports with the SEC or otherwise be subject to the United
    States federal securities laws applicable to public companies.
</DIV>

<A name='Y91492126'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Comparison
    of Rights of Shareholders of Crude and Unitholders of CPLP
    (page&#160;113)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the proposed transaction, Crude shareholders will
    receive CPLP common units. Therefore, after the consummation of
    the proposed transaction, current Crude shareholders will become
    CPLP unitholders, and their rights as CPLP unitholders will be
    governed by the CPLP Partnership Agreement, which will be
    further amended to modify certain terms, as required by the
    merger agreement. See the section captioned &#147;the Merger
    Agreement&#160;&#151; Governance Matters after the Merger.&#148;
    While both Crude and CPLP are organized under the laws of the
    Republic of the Marshall Islands, and accordingly their
    equityholder rights are both governed by Marshall Islands law,
    there are certain differences between the rights of Crude
    shareholders and the rights of holders of CPLP common units. For
    a description of material differences, please see the section
    captioned &#147;Comparison of Rights of Shareholders of Crude
    and Unitholders of CPLP&#148; beginning on page&#160;113.
</DIV>

<A name='Y91492127'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Comparative
    Stock Prices and Dividends (page&#160;98)</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP common units are currently listed under the trading symbol
    &#147;CPLP&#148; on Nasdaq, and the Crude common stock is listed
    on the NYSE under the trading symbol &#147;CRU.&#148; On
    May&#160;4, 2011, the last full trading day prior to the public
    announcement of the execution of the merger agreement, the
    closing price of a CPLP common unit was $11.27 per unit, and the
    closing price of a share of Crude common stock was $12.99 per
    share. The averages of the closing prices of CPLP common units
    and shares of Crude common stock for certain periods prior to
    the public announcement of the execution of the merger agreement
    are as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Crude Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>CPLP Common<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Units<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(NYSE)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Nasdaq)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    30 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    60 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    90 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On June&#160;7, 2011, the most recent practicable trading date
    prior to the printing of this proxy statement/prospectus, the
    closing price of Crude common stock was $12.64 per share, and
    the closing price of CPLP common units was $8.35 per unit. You
    are urged to obtain current market quotations prior to making
    any decision with respect to the proposed transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has generally declared distributions in January, April,
    July and October of each year and paid those distributions in
    the subsequent month. In January 2010, CPLP introduced an annual
    distribution guidance of $0.90 per annum, or $0.225 per quarter.
    In July 2010, CPLP revised its annual distribution guidance to
    $0.93 per annum, or $0.2325 per quarter. CPLP made distributions
    in accordance with its guidance in November 2010, February 2011
    and May 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s dividend policy is to pay a variable quarterly
    dividend based on its cash available for distribution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In November 2010, Crude declared a cash dividend of $0.20 per
    share, and paid that dividend on December&#160;7, 2010 to
    shareholders of record on November&#160;24, 2010. In February
    2011, Crude declared a cash dividend of $0.30 per share, and
    paid that dividend on March&#160;2, 2011 to shareholders of
    record on February&#160;23, 2011. In May 2011, Crude declared a
    cash dividend of $0.25 per share, and paid that dividend on
    June&#160;1, 2011 to shareholders of record on May&#160;23, 2011.
</DIV>
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    <BR>
    11
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides that Crude may not declare or pay
    any dividends except the declaration and payment of a regular
    quarterly dividend for the quarter ended March&#160;31, 2011 and
    the quarter ending June&#160;30, 2011, in each case not in
    excess of $0.25 per share of Crude common stock and Crude
    Class&#160;B stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board and the CPLP Board will continue to evaluate
    their respective dividend and distribution policies in light of
    applicable business, financial, legal and regulatory
    considerations. For more information regarding dividend policy
    and distributions of each of CPLP and Crude, and related
    matters, please see the section captioned &#147;Comparative
    Stock Prices and Dividends&#148; beginning on page&#160;98.
</DIV>
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    <BR>
    12
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492128'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SELECTED
    HISTORICAL CONSOLIDATED FINANCIAL DATA OF CPLP</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth certain selected historical
    consolidated financial data of CPLP prepared in accordance with
    U.S.&#160;generally accepted accounting principles, or
    U.S.&#160;GAAP. The selected income statement data for each of
    the three years ended December&#160;31, 2010, 2009, and 2008 and
    the selected balance sheet data as of December&#160;31, 2010 and
    2009 has been derived from the audited consolidated financial
    statements and the related notes of CPLP included in its Annual
    Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the SEC on February&#160;4, 2011. The historical
    financial data presented for the years ended December&#160;31,
    2007 and 2006 have been derived from audited financial
    statements not included in this proxy statement/prospectus and
    are provided for comparison purposes only. The financial
    statements for the years ended December&#160;31, 2007 and 2006
    are not comparable to CPLP&#146;s financial statements for the
    years ended December&#160;31, 2010, 2009 and 2008. CPLP&#146;s
    initial public offering on April&#160;3, 2007, and certain other
    transactions that occurred thereafter, including the delivery or
    acquisition of 13 additional vessels, the exchange of two
    vessels, the new charters for vessels, the agreement CPLP
    entered into with Capital Ship Management for the provision of
    management and administrative services to its fleet for a fixed
    fee and certain new financing and interest rate swap
    arrangements CPLP entered into, affected results of operations.
    Furthermore, for the year ended December&#160;31, 2006, only
    eight of the vessels in CPLP&#146;s current fleet had been
    delivered to Capital Maritime and only two were in operation for
    the full year. The selected income statement and balance sheet
    data as of and for the three months ended March&#160;31, 2011
    and 2010 has been derived from the unaudited condensed and
    consolidated financial statements and the related notes of CPLP
    included in its Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished to the SEC on June&#160;9, 2011. Data presented for
    the three months ended March&#160;31, 2011 do not necessarily
    represent the results that can be expected for the year ending
    December&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The information presented below is only a summary and should be
    read in conjunction with the respective audited and unaudited
    financial statements of CPLP, including the notes thereto,
    incorporated by reference in this proxy statement/prospectus.
    See the section captioned &#147;Where You Can Find More
    Information&#148; beginning on page&#160;125.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>March&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006(1)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income per unit,
    distributions per unit and number of units)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Income Statement Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    21,425
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    32,333
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    113,562
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    134,519
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    147,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    98,730
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    33,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Revenues&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,229
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,152
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124,592
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    134,519
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    147,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98,730
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Voyage expenses(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    735
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,793
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,009
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,993
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,981
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel operating expenses&#160;&#151; related parties(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,048
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,171
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,830
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,193
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,958
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,319
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel operating expenses(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,204
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,682
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,894
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,891
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    General and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,292
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    630
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,506
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,876
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,817
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,477
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Depreciation and amortization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,117
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,464
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,581
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,759
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,819
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,192
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,788
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73,274
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    70,588
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,326
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,132
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,462
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,931
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80,363
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,844
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Interest expense and finance costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,225
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,258
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (33,259
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (32,675
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (26,631
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14,792
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Loss on interest rate swap agreement
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,763
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Interest and other income/(expense)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    341
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    860
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,460
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    655
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (65
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,393
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,780
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,919
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    32,716
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,986
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    35,504
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>March&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006(1)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income per unit,
    distributions per unit and number of units)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Less:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income attributable to Capital Maritime operations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,005
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,491
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,933
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>CPLP&#146;s net income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,393
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,775
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,936
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,767
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,571
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    General partner&#146;s interest in CPLP&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    136
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    431
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Limited partners&#146; interest in CPLP&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,639
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,641
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,282
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,140
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income allocable to limited partner per(4):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common unit (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.56
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Subordinated unit (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total unit (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Weighted-average units outstanding (basic and diluted):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,150,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,088,625
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,437,314
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,755,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,379,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,512,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Subordinated units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,061,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,805,522
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,805,522
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,150,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,088,625
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,437,314
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,817,151
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,184,734
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,318,022
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Balance Sheet Data </B>(at end of period):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessels, net and under construction
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    699,222
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    695,995
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    707,339
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    703,707
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    750,815
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    569,223
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    262,972
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    752,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    762,078
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    758,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    760,928
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    821,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    608,627
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    276,666
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total partners&#146; capital / shareholders&#146; equity(6)(7)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    238,601
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    215,943
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    239,760
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    188,352
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    214,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    209,274
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71,458
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of units/shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,720,594
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,733,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,720,594
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,323,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,323,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,773,492
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,700
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,946,183
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,098,729
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,946,183
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,817,151
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,011,629
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,512,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Subordinated units(5)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,805,522
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,805,522
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    General Partner units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    774,411
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    634,667
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    774,411
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    506,472
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    506,472
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    455,470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Dividends declared per unit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Cash Flow Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash provided by operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,249
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,051
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72,562
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,475
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,725
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (46,383
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (79,202
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (55,770
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (270,003
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (335,696
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (197,391
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash (used in) provided by / financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,102
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,748
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    58,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (56,389
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    216,277
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    298,901
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    186,898
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The amount of historical net income attributable to Capital
    Maritime operations for the following periods is excluded from
    the calculation of net income per unit attributable to
    CPLP&#146;s unitholders:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
&#160;&#160;&#160;&#160;
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
    a) </TD>
    <TD></TD>
    <TD valign="bottom">
    the year ended December&#160;31, 2006,</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>
    <FONT style="font-size: 10pt">&#160;&#160;&#160;&#160;
    </FONT>

<TR>
    <TD valign="top">
    b) </TD>
    <TD></TD>
    <TD valign="bottom">
    the period from January&#160;1, 2007 to April&#160;3, 2007 for
    the vessels in CPLP&#146;s fleet at the time of its initial
    public offering,</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>
    <FONT style="font-size: 10pt">&#160;&#160;&#160;&#160;
    </FONT>

<TR>
    <TD valign="top">
    c) </TD>
    <TD></TD>
    <TD valign="bottom">
    the period from January&#160;1, 2007 to September&#160;23, 2007,
    March&#160;26, 2008 and April&#160;29, 2008 for the
    <FONT style="white-space: nowrap">M/T</FONT> Attikos,
    the M/T Amore Mio&#160;II and the M/T Aristofanis, respectively,</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>
    <FONT style="font-size: 10pt">&#160;&#160;&#160;&#160;
    </FONT>

<TR>
    <TD valign="top">
    d) </TD>
    <TD></TD>
    <TD valign="bottom">
    the years ended December&#160;31, 2007 and 2008 and the period
    from January&#160;1, 2009 to April&#160;6, 2009 and
    April&#160;12, 2009 for the M/T Agamemnon&#160;II and M/T Ayrton
    II, respectively,</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>
    <FONT style="font-size: 10pt">&#160;&#160;&#160;&#160;
    </FONT>

<TR>
    <TD valign="top">
    e) </TD>
    <TD></TD>
    <TD valign="bottom">
    the years ended December&#160;31, 2007, 2008 and 2009 and for
    the period from January&#160;1, 2010 to June&#160;29, 2010 for
    the M/T Alkiviadis, and</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>
    <FONT style="font-size: 10pt">&#160;&#160;&#160;&#160;
    </FONT>

<TR>
    <TD valign="top">
    f) </TD>
    <TD></TD>
    <TD valign="bottom">
    the period from April&#160;13, 2009 to December&#160;31, 2009
    and from January&#160;1, 2010 to February&#160;28, 2010 for the
    M/T Atrotos. The results of operations of the vessels mentioned
    above are included in CPLP&#146;s income statements for the
    periods prior to their acquisitions by CPLP as these vessels
    were acquired from an entity under common control. However, such
    earnings for the periods prior to their acquisitions were not
    allocated to CPLP&#146;s unitholders and were not included in
    the cash available for distribution </TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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    14
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    calculation. Additionally, CPLP does not believe that a
    presentation of earnings per unit for periods prior to its
    initial public offering in 2007 would be meaningful to its
    investors as the vessels comprising its current fleet were
    either under construction or operated as part of Capital
    Maritime&#146;s fleet with different terms and conditions than
    those in place after their acquisition by CPLP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Vessel voyage expenses primarily consist of commissions, port
    expenses, canal dues and bunkers.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Since April&#160;4, 2007, CPLP&#146;s vessel operating expenses
    have consisted primarily of management fees payable to Capital
    Ship Management Corp., its manager, who provides commercial and
    technical services such as crewing, repairs and maintenance,
    insurance, stores, spares and lubricants, as well as
    administrative services pursuant to management and
    administrative services agreements.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    On January&#160;1, 2009, CPLP retroactively adopted accounting
    guidance newly available at the time relating to the Application
    of the Two&#160;&#151; Class&#160;Method and its application to
    Master Limited Partnerships which considers whether the
    incentive distributions of a master limited partnership
    represent a participating security when considered in the
    calculation of earnings per unit under the Two&#160;&#151;
    Class&#160;Method. This guidance also considers whether the CPLP
    Partnership Agreement contains any contractual limitations
    concerning distributions to the incentive distribution rights
    that would impact the amount of earnings to allocate to the
    incentive distribution rights for each reporting period. In
    addition, since the issuance of the non-vested units as
    discussed in (7)&#160;below, CPLP has applied the
    Two&#160;&#151; Class&#160;Method, which requires CPLP to
    allocate the portion of net income to non-vested units resulting
    in a reduction of net income available to common unitholders.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Following the early termination of the subordination period on
    February&#160;14, 2009, all of CPLP&#146;s 8,805,522
    subordinated units converted into common units on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis. Please read &#147;Item&#160;8: Financial
    Information&#160;&#151; Termination of the Subordination
    Period&#148; to CPLP&#146;s financial statements included in
    CPLP&#146;s most recent 20-F, which is incorporated by reference
    to this proxy statement/prospectus, for additional information.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    In February and August 2010 CPLP successfully completed two
    equity offerings of 6,281,578 and 6,052,254 common units,
    respectively, which include the partial exercise of the
    underwriters&#146; overallotment option of 481,578 and 552,254
    common units, respectively. During the same periods CPLP issued,
    in exchange for cash, 128,195 and 123,515 general partner units,
    respectively, to Capital GP, its general partner, pursuant to
    the terms of the CPLP Partnership Agreement which entitles
    Capital GP to maintain its 2% interest in CPLP.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    On August&#160;31, 2010, CPLP issued either directly or through
    Capital GP, its general partner, 795,200&#160;units to the
    members of the CPLP Board, to all employees of Capital GP,
    CPLP&#146;s manager, Capital Maritime and certain key affiliates
    and other eligible persons.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please read &#147;Item&#160;6E: Share Ownership&#160;&#151;
    Omnibus Incentive Compensation Plan&#148; and Note&#160;13
    (Omnibus Incentive Compensation Plan) to CPLP&#146;s financial
    statements, which are incorporated by reference to this proxy
    statement/prospectus, for additional information.
</DIV>
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    <BR>
    15
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492129'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SELECTED
    HISTORICAL CONSOLIDATED FINANCIAL DATA OF CRUDE</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth certain selected historical
    consolidated financial data of Crude prepared in accordance with
    U.S.&#160;generally accepted accounting principles, or
    U.S.&#160;GAAP. The selected income statement data for each of
    the years in the three years ended December&#160;31, 2010, 2009,
    and 2008 and the selected balance sheet data as of
    December&#160;31, 2010 and 2009 have been derived from the
    audited consolidated financial statements and the related notes
    of Crude included in its Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the SEC on April&#160;18, 2011. The historical
    financial data presented for the year ended December&#160;31,
    2007 and the period from April&#160;6, 2006 (inception) to
    December&#160;31, 2006 have been derived from financial
    statements not included in this proxy statement/prospectus and
    are provided for comparison purposes only. The financial
    statements for the years ended December&#160;31, 2009, 2008,
    2007 and for the period from April&#160;6, 2006 (inception) to
    December&#160;31, 2006 are not comparable to Crude&#146;s
    financial statements for the year ended December&#160;31, 2010.
    Crude&#146;s initial public offering on March&#160;17, 2010, and
    certain other transactions that occurred thereafter, including
    the delivery or acquisition of four additional vessels, the
    agreement Crude entered into with Capital Ship Management for
    the provision of management and administrative services to its
    fleet and the new revolving credit facility Crude entered into,
    as amended, have materially affected its results of operations.
    Furthermore, for the years ended December&#160;31, 2009, 2008,
    2007 and for the periods from April&#160;6, 2006 (inception) to
    December&#160;31, 2006 and January&#160;1, 2010 to
    March&#160;30, 2010, only one of the vessels in Crude&#146;s
    current fleet, the Miltiadis M II, had been delivered and was
    operating. The selected statement of operations and balance
    sheet data as of and for the three months ended March&#160;31,
    2011 and 2010 has been derived from the unaudited consolidated
    financial statements and the related notes of Crude included in
    its Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished to the SEC on June&#160;9, 2011. Data presented for
    the three months ended March&#160;31, 2011 do not necessarily
    represent the results that can be expected for the year ending
    December&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The information presented below is only a summary and should be
    read in conjunction with the respective audited and unaudited
    financial statements of Crude, including the notes thereto,
    incorporated by reference in this proxy statement/prospectus.
    See the section captioned &#147;Where You Can Find More
    Information&#148; beginning on page&#160;125.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Period from<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;6, 2006<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(inception) to<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Dec.&#160;31, 2006</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income/(loss) per
    share, dividends per share and number of shares)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Statement of Operations Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,831
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,620
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    55,882
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,870
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    39,166
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    24,665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15,017
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Voyage expenses(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,256
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,447
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,317
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel voyage expenses&#160;&#151; related party(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel operating expenses(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    852
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,152
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,457
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,351
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,243
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,292
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel operating expenses&#160;&#151; related party(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    384
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    140
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,086
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    270
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    176
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    General and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,616
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,264
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,005
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    899
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,317
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,357
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Other operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,286
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,981
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,384
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,626
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,606
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,865
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,669
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,888
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    850
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,236
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,256
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,264
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,996
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,129
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Interest expense and finance costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,347
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (113
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,687
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (530
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,590
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,132
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,059
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Interest and other income/(expenses)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    200
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    328
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (18
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income/(loss)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (467
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,323
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,897
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,736
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,846
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,066
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Period from<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;6, 2006<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(inception) to<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Dec.&#160;31, 2006</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income/(loss) per
    share, dividends per share and number of shares)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income/(loss) per share (basic and diluted):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.03
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.77
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.94
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Weighted-average number of shares (basic and diluted):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common shares (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,500,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,726,027
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Class&#160;B shares (basic and diluted)(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,557,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total shares (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,605,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,355,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,831,290
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,557,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Balance Sheet Data (at end of period):</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessels, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    388,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    191,785
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    392,969
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    76,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    79,595
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    82,951
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    86,307
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    414,063
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    287,911
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    418,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    88,413
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89,150
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total long-term debt including current portion
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    134,580
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    134,580
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,460
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,621
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,587
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total shareholders&#146; equity(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    272,889
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    281,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    277,620
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46,860
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,566
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of common shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,899,400
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,500,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,894,400
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of Class&#160;B shares(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total number of shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,004,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,605,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,999,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Dividends declared per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Cash Flow Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash provided by operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,119
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    542
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,755
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    20,859
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,313
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,471
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (184,574
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (404,274
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (88,545
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash (used in) provided by / financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,800
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    277,392
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    396,443
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,161
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (20,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,310
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84,082
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Voyage expenses primarily consist of commissions, port expenses,
    canal dues and bunkers. Vessel voyage expenses&#160;&#151;
    related party includes commissions payable to Crude&#146;s
    manager, Capital Maritime.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Crude&#146;s vessel operating expenses consist primarily of crew
    costs, insurance, repairs and maintenance, stores, lubricants,
    spares and consumables, professional and legal fees and
    miscellaneous expenses. Vessel operating expenses&#160;&#151;
    related party also includes management fees payable to
    Crude&#146;s manager.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Crude considers the issuance of shares of Class&#160;B stock as
    an equity recapitalization. Crude has used the
    2,105,263&#160;shares of Class&#160;B stock in the calculation
    of net income per share for all the periods presented herein,
    with the exception of 2006 where the weighted-average number of
    shares of Class&#160;B stock outstanding during the year was
    used in the calculation.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    On March&#160;1, 2010, Crude adopted the Crude Equity Plan. On
    August&#160;31, 2010, Crude issued 394,400&#160;shares in the
    aggregate to the members of the Crude Board, all employees of
    the company, its manager, Capital Maritime, and certain key
    affiliates and other eligible persons. An additional
    5,000&#160;shares were issued in March 2011.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please read &#147;Item&#160;6E: 2010 Equity Incentive Plan&#148;
    and Note&#160;11 (Equity Incentive Plan) to Crude&#146;s
    Financial Statements, which are incorporated by reference to
    this proxy statement/prospectus, for additional information.
</DIV>
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</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<A name='Y91492130'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SELECTED
    UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL DATA</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following tables present, as at the dates and for the
    periods indicated, selected unaudited pro forma condensed
    financial data, which has been prepared to give effect to the
    proposed transaction using the acquisition method of accounting
    as if the proposed transaction closed on March&#160;31, 2011 for
    selected balance sheet data and January 1, 2010 and carried
    forward through three months ended March 31, 2011 for selected
    income statement data.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read this information in conjunction with
    (i)&#160;Crude&#146;s audited consolidated financial statements
    and the related notes included in Crude&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 filed with the SEC on
    April&#160;18, 2011, Crude&#146;s unaudited condensed
    consolidated financial statements and the related notes for the
    three months ended March&#160;31, 2011 included in Crude&#146;s
    Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished to the SEC on June&#160;9, 2011, CPLP&#146;s audited
    financial statements and the related notes included in
    CPLP&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 filed with the SEC on
    February&#160;4, 2011, and CPLP&#146;s unaudited condensed
    consolidated financial statements and the related notes for the
    three months ended March&#160;31, 2011 included in CPLP&#146;s
    Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished with the SEC on June&#160;9, 2011, all of which are
    incorporated by reference herein and (ii)&#160;the unaudited pro
    forma condensed combined financial statements and accompanying
    notes included elsewhere in this proxy statement/prospectus. See
    the sections captioned &#147;Where You Can Find More
    Information&#148; beginning on page&#160;125 and &#147;Unaudited
    Pro Forma Condensed Combined Financial Information&#148;
    beginning on page&#160;100.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The selected unaudited pro forma condensed combined financial
    data is presented for illustrative purposes only and, therefore,
    is not necessarily indicative of the financial position or
    results of operations that might have been achieved had the
    proposed transaction occurred on (i)&#160;December&#160;31, 2010
    and (ii)&#160;January&#160;1, 2011 and was carried forward
    through March&#160;31, 2011, respectively. In addition, the
    selected unaudited pro forma condensed financial data is not
    necessarily indicative of the results of operations or financial
    position of the company in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="74%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income per unit,
    distributions per unit and number of units)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Income Statement Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    40,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    180,474
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Voyage expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,491
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel voyage expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,432
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,347
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,804
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,590
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,889
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,847
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,286
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    114,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,649
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    65,688
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest expense and finance costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,816
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (34,685
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest and other income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,188
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,019
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    32,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    18
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="74%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dec.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Thousands of U.S. dollars, except net income per unit,
    distributions per unit and number of units)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Less:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income attributable to Capital Maritime operations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>CPLP&#146;s net income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,019</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>31,208</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General partner&#146;s interest in CPLP&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Limited partners&#146; interest in CPLP&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,959
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income allocable to limited partner per:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common unit (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted-average units outstanding (basic and diluted)(1):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61,054,788
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,069,715
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Balance Sheet Data </B>(at end of period):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="84%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>At March 31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessels, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,093,098
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,170,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total partners&#146; capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    514,871
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Number of units(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,687,869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,414,112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,273,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The pro forma weighted average number of common units, basic and
    diluted, presented in the unaudited pro forma condensed combined
    income statement for the three month period ended March&#160;31,
    2011, and for the year ended December&#160;31, 2010,
    respectively, include (i)&#160;CPLP&#146;s weighted average
    number of units for the three month period ended March&#160;31,
    2011, and for the year ended December&#160;31, 2010,
    respectively, (ii)&#160;Crude&#146;s weighted average number of
    shares of Crude common stock and Crude Class&#160;B stock for
    the three month period ended March&#160;31, 2011, and for the
    year ended December&#160;31, 2010, multiplied by the exchange
    ratio of 1.56 respectively, and (iii)&#160;the weighted average
    of 20,000&#160;shares of Crude common stock representing awards,
    to a number of members of the Crude Independent Committee who
    are not designated by Crude to serve as members of the CPLP
    Board, whose vesting will be accelerated upon closing of the
    merger multiplied by the exchange ratio of 1.56. Please see the
    section captioned &#147;Comparative Historical and Pro Forma Per
    Share/Unit Data&#148; below.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The number of CPLP common units and CPLP general partner units
    have been calculated based on the units that would have been
    outstanding as of end of the periods presented after giving
    effect to the merger.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">COMPARATIVE
    HISTORICAL AND PRO FORMA PER SHARE/UNIT DATA (1)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The December&#160;31, 2010 selected historical comparative per
    share or per unit information of Crude and CPLP, set forth
    below, was derived from their respective audited financial
    statements. The March&#160;31, 2011 selected historical
    comparative per share or per unit information of Crude and CPLP
    set forth below was derived from unaudited financial statements
    and, in the opinion of the management of Crude and CPLP,
    includes all adjustments, consisting of normal recurring
    adjustments, necessary for a fair presentation for such periods.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should read the information in this section along with
    Crude&#146;s and CPLP&#146;s historical consolidated financial
    statements and accompanying notes for the periods referred to
    above included in the documents described under the section
    captioned &#147;Where You Can Find More Information&#148;
    beginning on page&#160;125. You should also read the section
    captioned &#147;Unaudited Pro Forma Condensed Combined Financial
    Information&#148; beginning on page&#160;100.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">CPLP
    Historical and Unaudited Pro Forma Common Unit Data</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table presents the net income per unit,
    distributions per unit and book value per unit with respect to
    CPLP on a historical basis and pro forma combined basis giving
    effect to the transaction. The CPLP pro forma combined amounts
    are presented as if the transaction had been effective for the
    periods presented based on the acquisition method of accounting.
    The CPLP pro forma combined amounts do not reflect the benefits
    of expected cost savings, opportunities to earn additional
    revenue, and merger related costs, or other factors that may
    result as a consequence of the merger and, accordingly, do not
    attempt to predict or suggest future results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="67%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Basic and Diluted Net Income Per Unit:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    CPLP historical
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    CPLP pro forma combined
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Dividends Per Unit:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP historical
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP pro forma combined(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Book Value Per Unit at Period End:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    CPLP historical
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    CPLP pro forma combined
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Pro forma combined distributions of $0.2325 and $1.09 per unit
    for the three month period ended March&#160;31, 2011 and for the
    year ended December&#160;31, 2010, respectively, are based on
    historical distributions paid by CPLP.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    20
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Historical and Unaudited Pro Forma Common and Class&#160;B Share
    Data</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table presents the net income/(loss) per share for
    historical, and net income per unit for pro forma, dividends per
    share and book value per share with respect to Crude on a
    historical basis and dividend per unit and book value per unit
    on a pro forma equivalent basis. The pro forma equivalent
    amounts with respect to the Crude common stock are calculated by
    multiplying the corresponding CPLP pro forma combined amount by
    the exchange ratio of 1.56.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="67%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net Income/(Loss) Per Share/Unit, Basic and Diluted:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Crude historical per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.03
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Crude pro forma equivalent per unit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Dividends Per Share/Unit:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Crude historical per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Crude pro forma equivalent per unit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Book Value Per Share/Unit at Period End:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Crude historical per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Crude pro forma equivalent per unit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
</DIV><!-- End box 1 -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    21
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492131'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Investing in the CPLP common units involves risks, some of
    which are related to the merger agreement and the transactions
    contemplated therein. In considering whether to approve the
    merger agreement and the transactions contemplated by the merger
    agreement, including the merger, Crude shareholders should
    carefully consider the following information about these risks,
    as well as the other information included in or incorporated by
    reference into this proxy statement/prospectus, including
    CPLP&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 and the extensive risk
    factors relating to the businesses of CPLP described therein
    beginning on page&#160;8 thereof. The business of CPLP, as well
    as its financial condition and results of operations, could be
    materially adversely affected by any of these risks, as well as
    other risks and uncertainties not currently known to CPLP or not
    currently deemed to be material.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>CPLP also encourages you to read and consider the risk
    factors specific to Crude&#146;s businesses (that may also
    affect CPLP) described in Crude&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 beginning on
    page&#160;8 thereof.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Please see &#147;Where You Can Find More Information&#148;
    and &#147;Incorporation of Certain Documents by Reference&#148;
    on pages&#160;125 and 125, respectively, for information on
    where you can find the periodic reports and other documents CPLP
    and Crude have filed with or furnished to the SEC and which are
    incorporated into this proxy statement/prospectus by
    reference.</I>
</DIV>

<A name='Y91492132'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISKS
    RELATING TO THE PROPOSED TRANSACTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Any
    delay in the completion of the proposed transaction may
    significantly reduce the benefits expected to be obtained from
    the proposed transaction or could adversely affect the market
    price of Crude common stock or CPLP common units or their future
    business and financial results, including the ability to
    maintain the current rate of Crude cash dividends and CPLP cash
    distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The proposed transaction is subject to a number of conditions,
    including approvals of Crude shareholders and other required
    approvals, many of which are beyond the control of Crude and
    CPLP and which may prevent, delay or otherwise materially and
    adversely affect completion of the proposed transaction. See the
    section captioned &#147;The Merger Agreement&#160;&#151;
    Conditions to Completion of the Proposed Transaction&#148;
    beginning on page&#160;95. Crude and CPLP cannot predict whether
    and when these conditions will be satisfied.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Failure to complete the proposed transaction would prevent Crude
    and CPLP from realizing the anticipated benefits of the proposed
    transaction. Each company would also remain liable for
    significant transaction costs, including legal, accounting and
    financial advisory fees. Any delay in completing the proposed
    transaction may significantly reduce the benefits that Crude and
    CPLP expect to achieve if they successfully complete the
    proposed transaction within the expected timeframe and integrate
    their respective businesses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the market price of Crude common stock or CPLP
    common units may reflect various market assumptions as to
    whether and when the proposed transaction will be completed.
    Consequently, the completion of, the failure to complete, or any
    delay in the completion of the proposed transaction could result
    in a significant change in the market price of Crude common
    stock or CPLP common units.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    market price of the CPLP common units may decline following
    completion of the proposed transaction.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Following completion of the merger, the market price of the CPLP
    common units may decline if, among other reasons, the combined
    company does not achieve the expected benefits to the proposed
    transaction as rapidly or to the extent anticipated by it,
    financial analysts or investors or at all, current Crude
    shareholders sell a significant number of CPLP common units
    after consummation of the proposed transaction, or the effect of
    the proposed transaction on the financial results of the
    combined company is not consistent with the expectations of
    financial analysts or investors.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    22
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Fluctuations
    in market prices may cause the value of the CPLP common units
    that you receive to be less than the value of your shares of
    Crude capital stock.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon completion of the proposed transaction, all shares of Crude
    common stock and Crude Class&#160;B stock will be converted into
    CPLP common units. The ratio at which the shares will be
    converted is fixed, and there will be no adjustment for changes
    in the market price of CPLP common units. Any change in the
    price of CPLP common units will affect the value Crude
    shareholders will receive in the proposed transaction. CPLP
    common units have historically experienced significant
    volatility, and the value of the consideration received in the
    proposed transaction may go up or down as the market price of
    CPLP common units goes up or down. Stock price changes may
    result from a variety of factors that are beyond the control of
    Crude and CPLP, including changes in their businesses,
    operations and prospects, regulatory considerations,
    fluctuations in the spot and period tanker market and vessel
    values and general market and economic conditions. Crude is not
    permitted to &#147;walk away&#148; from the proposed transaction
    or resolicit the vote of its shareholders solely because of
    changes in the market price of CPLP&#146;s common units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The prices of Crude common stock and CPLP common units at the
    closing of the proposed transaction may vary from their
    respective prices on the date of this proxy statement/prospectus
    and on the date of the Crude special meeting. Because the date
    the proposed transaction is completed will be later than the
    date of the Crude special meeting, the prices of Crude common
    stock and CPLP common units on the date of the Crude special
    meeting may not be indicative of their respective prices on the
    date the proposed transaction is completed.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP&#146;s
    general partner and its other affiliates own a significant
    interest in CPLP and they have conflicts of interest and limited
    fiduciary and contractual duties, which may permit them to favor
    their own interests over the interests of holders of CPLP common
    units.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the proposed transaction is consummated, then based on the
    number of shares of Crude common stock and Crude Class&#160;B
    stock outstanding on June&#160;8, 2011, CPLP would issue
    approximately 24,967,275 CPLP common units to Crude shareholders
    in the proposed transaction, including 3,284,210 common units to
    be issued to CCIC. Capital Maritime, the owner of Capital GP,
    currently owns a 31.2% interest in CPLP (including its 2%
    general partner interest through its ownership of CPLP&#146;s
    general partner, Capital GP), and following the merger, Capital
    Maritime will own a 27.1% interest in the combined company,
    including ownership resulting from the general partnership
    interest in the combined company held by Capital GP, and
    collectively, Capital Maritime and CCIC would own approximately
    31.7% of the combined company. The CPLP common units owned by
    Capital Maritime have the same rights as CPLP&#146;s other
    outstanding common units. Capital GP effectively controls
    CPLP&#146;s
    <FONT style="white-space: nowrap">day-to-day</FONT>
    affairs consistent with policies and procedures adopted by and
    subject to the direction of the CPLP Board. Capital GP and its
    affiliates and its directors have a fiduciary duty to manage
    CPLP in a manner beneficial to CPLP and the unitholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A number of the officers of Capital GP and certain of
    CPLP&#146;s directors are directors or officers of Capital
    Maritime and its affiliates, and as such they also have
    fiduciary duties to Capital Maritime. As a result, conflicts of
    interest may arise between Capital Maritime and its affiliates,
    including Capital GP and its officers, on the one hand, and CPLP
    and CPLP unitholders, on the other hand. These conflicts
    include, among others, the following situations:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    One of the executive officers of Capital GP and three of
    CPLP&#146;s current directors also serve as executive officers
    <FONT style="white-space: nowrap">and/or</FONT>
    directors of Capital Maritime;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    neither the CPLP Partnership Agreement nor any other agreement
    requires Capital GP or Capital Maritime or its affiliates to
    pursue a business strategy that favors CPLP or utilizes its
    assets, and Capital Maritime&#146;s officers and directors have
    a fiduciary duty to make decisions in the best interests of the
    shareholders of Capital Maritime, which may not be in the best
    interests of CPLP;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital GP and the CPLP Board are allowed to take into account
    the interests of parties other than CPLP, such as Capital
    Maritime, in resolving conflicts of interest, which has the
    effect of limiting their fiduciary duties to CPLP unitholders;
</TD>
</TR>

</TABLE>
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    <BR>
    23
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital GP and CPLP&#146;s directors have limited their
    liabilities and reduced their fiduciary duties under the laws of
    the Republic of the Marshall Islands, while also restricting the
    remedies available to CPLP unitholders, and, as a result of
    purchasing CPLP units, unitholders are treated as having agreed
    to the modified standard of fiduciary duties and to certain
    actions that may be taken by Capital GP and CPLP&#146;s
    directors, all as set forth in the CPLP Partnership Agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital GP and the CPLP Board will be involved in determining
    the amount and timing of the combined company&#146;s asset
    purchases and sales, capital expenditures, borrowings, and
    issuances of additional partnership securities and reserves,
    each of which can affect the amount of cash that is available
    for distribution to CPLP unitholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital GP may have substantial influence over the CPLP
    Board&#146;s decision to cause the combined company to borrow
    funds in order to permit the payment of cash distributions, even
    if the purpose or effect of the borrowing is to make incentive
    distributions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital GP is entitled to reimbursement of all reasonable costs
    incurred by it and its affiliates for CPLP&#146;s benefit;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The CPLP Partnership Agreement does not restrict CPLP from
    paying Capital GP or its affiliates for any services rendered to
    the combined company or entering into additional contractual
    arrangements with any of these entities on the combined
    company&#146;s behalf provided that the terms of any such
    payment of arrangement are fair and reasonable;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Currently, Capital GP may exercise its right to call and
    purchase CPLP&#146;s outstanding units if it and its affiliates
    own more than 80% of the CPLP common units. If the merger and
    the transactions contemplated are consummated, Capital GP will
    continue to have such right after the effective time of the
    merger, provided that it and its affiliates own 90% of the CPLP
    common units.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although a majority of the combined company&#146;s directors
    will over time be elected by holders of CPLP common units,
    Capital GP will likely have substantial influence on decisions
    made by the CPLP Board. See &#147;Description of CPLP Common
    Units&#148; and &#147;Comparison of Rights of Shareholders of
    Crude and Unitholders of CPLP&#148; beginning on pages&#160;111
    and 113 respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude
    shareholders and CPLP unitholders will experience a reduction in
    their percentage ownership and voting power with respect to
    their units as a result of the consummation of the proposed
    transaction. Crude shareholders will hold less than a majority
    of the common units of the combined company and may be
    outvoted.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As a result of the consummation of the proposed transaction,
    Crude shareholders and CPLP unitholders will experience a
    reduction in their percentage ownership interests and voting
    power relative to their percentage ownership interests and
    voting power in Crude and CPLP, respectively, prior to
    consummation of the proposed transaction. Taking into account
    CPLP&#146;s acquisition of the Cape Agamemnon, if the proposed
    transaction is consummated, it is expected that Crude
    shareholders will hold approximately 35% and current CPLP
    unitholders will hold approximately 65% of the CPLP common units
    outstanding immediately following the consummation of the
    proposed transaction. In particular, Crude shareholders in the
    aggregate will own less than a majority of CPLP and could, as a
    result, be outvoted by current CPLP unitholders if current CPLP
    unitholders voted together as a group. Therefore, Crude
    shareholders will not have the same control over the combined
    company as they had over Crude prior to consummation of the
    proposed transaction.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    proposed transaction may adversely affect the relationships of
    Crude or CPLP with their respective charterers, customers and
    suppliers, whether or not the proposed transaction is
    completed.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In response to the announcement of the proposed transaction,
    existing or prospective customers or suppliers of Crude or CPLP
    may:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    delay, defer or cease purchasing services from or providing
    goods or services to Crude or CPLP;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    delay or defer other decisions concerning Crude or CPLP, or
    refuse to extend credit to Crude or CPLP;
</TD>
</TR>

</TABLE>
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    <BR>
    24
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    raise disputes under their business arrangements with Crude or
    CPLP or assert purported consent or change of control
    rights;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    otherwise seek to change the terms on which they do business
    with Crude or CPLP.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any such delays, disputes or changes to terms could seriously
    harm the business of Crude or CPLP or, if the proposed
    transaction is completed, the combined company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    integration of Crude and CPLP following the proposed transaction
    will present challenges that may result in a decline in the
    anticipated potential benefits of the proposed
    transaction.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP entered into the merger agreement with the
    expectation that the proposed transaction would result in
    various benefits, including, among other things, enhanced
    liquidity, increased access to the capital markets, facilitation
    of the combined company&#146;s growth, the potential for
    improved distributions and operating efficiencies. Although the
    companies expect to achieve the anticipated benefits of the
    proposed transaction, achieving them cannot be assured.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Moreover, Crude and CPLP will face challenges in integrating
    their organizations in a timely and efficient manner, and in
    retaining key Crude personnel. There can be no assurance that
    the integration will be completed in a timely or effective
    manner, or that Crude personnel will continue with the combined
    company if the integration is time-consuming or ineffective.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude
    and CPLP will incur significant costs in connection with the
    proposed transaction.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP expect to incur approximately $4.0&#160;million
    and $4.0&#160;million, respectively, in fees and costs
    associated with consummating the proposed transaction. The
    amounts of such fees and costs expected to be incurred by each
    of Crude and CPLP are preliminary estimates and are subject to
    change. Crude is in the early stages of assessing the magnitude
    of transaction costs, and, therefore, these estimates may change
    substantially, and additional unanticipated costs may be
    incurred in the integration of the businesses of Crude and CPLP.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    merger agreement contains provisions that could affect the
    decision of a third party considering making an alternative
    acquisition proposal to the proposed transaction.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement contains &#147;no shop&#148; provisions
    that, subject to limited exceptions, restrict Crude&#146;s
    ability to initiate, solicit, facilitate or encourage competing
    third-party proposals for the acquisition of Crude&#146;s stock
    or assets. Further, even if the Crude Board withdraws or
    qualifies its recommendation with respect to the merger, Crude
    will still be required to submit the merger to a shareholder
    vote. In addition, CPLP generally has an opportunity to offer to
    modify the terms of the merger in response to any competing
    acquisition proposals before the Crude Board may withdraw or
    qualify its recommendation with respect to the merger. In some
    circumstances, upon termination of the merger agreement, Crude
    will be required to pay a termination fee of $9.0&#160;million,
    less previously paid expenses, to CPLP. See &#147;The Merger
    Agreement&#160;&#151; Acquisition Proposals and a Company Change
    in Recommendation&#148; beginning on page&#160;92, &#147;The
    Merger Agreement&#160;&#151; Termination of the Merger
    Agreement&#148; beginning on page&#160;96 and &#147;The Merger
    Agreement&#160;&#151; Termination Fees and Reimbursement of
    Expenses&#148; beginning on page&#160;96.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    These provisions could discourage a potential third-party
    acquiror that might have an interest in acquiring all or a
    significant portion of Crude from considering or proposing that
    acquisition, even if it were prepared to pay consideration with
    a higher per share cash or market value than the market value
    proposed to be received or realized in the merger or might
    result in a potential third-party acquiror proposing to pay a
    lower price to the shareholders than it might otherwise have
    proposed to pay because of the added expense of the
    $9.0&#160;million termination fee, less previously paid
    expenses, that may become payable in certain circumstances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger agreement is terminated and Crude determines to
    seek another business combination, it may not be able to
    negotiate a transaction with another party on terms comparable
    to, or better than, the terms of the merger.
</DIV>
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    <BR>
    25
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492133'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISKS
    RELATING TO THE BUSINESS AND OPERATIONS OF THE COMBINED
    COMPANY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    recent global economic downturn may have a material adverse
    effect on the combined company&#146;s business, financial
    position, distributions and results of operations as well as on
    its ability to recharter its vessels at favorable
    rates.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Oil has been one of the world&#146;s primary energy sources for
    a number of decades. The global economic growth of previous
    years had a significant impact on the demand for oil and
    subsequently on the oil trade and shipping demand. However, the
    second half of 2008, the year 2009 and parts of 2010 were marked
    by a major economic slowdown which has had, and is expected to
    continue to have, a significant impact on world trade, including
    the oil trade. Demand for oil and refined petroleum products
    contracted sharply as a result of the global economic slowdown,
    which in combination with the diminished availability of trade
    credit, deteriorating international liquidity conditions and
    declining financial markets, led to decreased demand for tanker
    vessels, creating downward pressure on charter rates. This
    economic downturn also affected vessel values overall. Despite
    certain indications of recovery during 2010 and upward revisions
    of expected global oil demand growth for 2011, there has not
    been a material increase in crude or product tanker charter
    rates and global economic conditions remain fragile with
    significant uncertainty remaining with respect to recovery
    prospects, levels of recovery and long-term effects. Such upward
    revisions are primarily based on increased demand from countries
    not part of the Organization for Economic Co-operation and
    Development, or OECD, such as China and India, and if economic
    growth in these countries slows global oil demand and seaborne
    transport of oil may be significantly affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If these global economic conditions persist the combined company
    may not be able to operate its vessels profitably or employ its
    vessels at favorable charter rates as they come up for
    rechartering. Furthermore, a significant decrease in the market
    value of the combined company&#146;s vessels may cause it to
    recognize losses if any of its vessels are sold or if their
    values are impaired, and may affect the combined company&#146;s
    ability to comply with its loan covenants. A deterioration of
    the current economic and market conditions or a negative change
    in global economic conditions or the product or crude tanker
    markets would be expected to have a material adverse effect on
    the combined company&#146;s business, financial position,
    results of operations and ability to make cash distributions and
    comply with its loan covenants, as well as its future prospects
    and ability to grow its fleet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Charter
    rates for tanker vessels are highly volatile and are currently
    near historically low levels and may further decrease in the
    future, which may adversely affect the combined company&#146;s
    earnings and ability to make cash distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Currently, Crude charters all of its five vessels and CPLP
    charters two vessels in the spot charter market or on spot
    market- linked time charter agreements. The period employment of
    three of Crude&#146;s vessels and two of CPLP&#146;s vessels is
    scheduled to expire during 2011. The combined company may only
    be able to recharter these vessels at reduced or unprofitable
    rates as their current charters expire, or it may not be able to
    recharter these vessels at all. Throughout 2010 the period
    charter market for product and Crude tanker vessels
    (particularly in the second half of 2010 in the case of Crude
    tanker vessels) was at close to historically low levels and the
    majority of the vessels that entered into new charters during
    this period were rechartered at rates lower than their original
    charters. Recently, the product tanker period market has
    improved but rates remain significantly below historical
    averages. In the event the current low rate environment
    continues and charterers do not display an increased interest in
    chartering product or crude tanker vessels for longer periods at
    improved rates or at all, the combined company may not be able
    to obtain competitive rates for its vessels and its earnings and
    ability to make cash distributions may be adversely affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Alternatively, the combined company may have to deploy these
    vessels in the spot market, which, although common in the
    product and crude tanker industries, is cyclical and highly
    volatile, with rates fluctuating significantly based upon demand
    for oil and oil products and tanker supply, among others. In the
    past, the spot charter market has also experienced periods when
    spot rates have declined below the operating cost of vessels.
    The successful operation of the combined company&#146;s vessels
    in the spot charter market depends upon, among other things,
    obtaining profitable spot charters and minimizing, to the extent
    possible,
</DIV>
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    <BR>
    26
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    time spent waiting for charters and time spent traveling unladen
    to pick up cargo. Furthermore, as charter rates for spot
    charters are fixed for a single voyage which may last up to
    several weeks, during periods in which spot charter rates are
    rising, the combined company will generally experience delays in
    realizing the benefits from such increases.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The demand for period charters may not increase and the tanker
    charter market may not significantly recover over the next
    several months or may decline further. The occurrence of any of
    these events could have a material adverse effect on the
    combined company&#146;s business, results of operations, cash
    flows, financial condition and ability to meet its obligations
    and to make cash distributions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    combined company may not be able to grow or to effectively
    manage its growth.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A principal focus of the combined company&#146;s strategy is to
    continue to grow consistently with CPLP&#146;s current business
    model, to gradually reduce the combined company&#146;s crude
    spot market exposure over the next six to 18&#160;months as the
    crude market recovers and opportunities arise, by entering into
    fixed period charter contracts for Crude&#146;s two VLCCs and
    three Suezmax vessels, which are currently employed in the spot
    market or spot related time charters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The combined company&#146;s future growth will depend upon a
    number of factors, some of which it cannot control. These
    factors include its ability to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    capitalize on a potential recovery of the crude and product
    tanker market by fixing period charters for its vessels at
    attractive rates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    identify businesses engaged in managing, operating or owning
    vessels for acquisitions or joint ventures;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    identify vessels
    <FONT style="white-space: nowrap">and/or</FONT>
    shipping companies for acquisitions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    integrate any acquired businesses or vessels successfully with
    existing operations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    hire, train and retain qualified personnel to manage, maintain
    and operate its growing business and fleet;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    identify additional new markets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    improve operating and financial systems and controls;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    complete accretive transactions in the future;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    access financing and obtain required financing for existing and
    new operations, including refinancing of existing indebtedness.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The combined company&#146;s ability to grow is in part dependent
    on its ability to expand its fleet through acquisitions of
    suitable vessels. The combined company may not be able to
    acquire newbuildings or product and crude tankers on favorable
    terms, which could impede its growth and negatively impact its
    financial condition and ability to pay distributions. The
    combined company may not be able to contract for newbuildings or
    locate suitable vessels or negotiate acceptable construction or
    purchase contracts with shipyards and owners, or obtain
    financing for such acquisitions on economically acceptable
    terms, or at all.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The failure to effectively identify, purchase, develop, employ
    and integrate any vessels or businesses could adversely affect
    the combined company&#146;s business, financial condition and
    results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Following
    the acquisition of the Cape Agamemnon, CPLP will be exposed to
    various risks in the international drybulk shipping industry,
    which is cyclical and volatile.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Following the closing of its agreement to acquire the dry cargo
    Cape Agamemnon from Capital Maritime, CPLP will become subject
    to various risks of the drybulk shipping industry. The drybulk
    shipping industry is cyclical with attendant volatility in
    charter rates, vessel values and profitability. In addition, the
    degree of charter hire rate volatility among different types of
    drybulk carriers has varied widely. After reaching historical
    highs in mid-2008, charter hire rates for Capesize drybulk
    carriers such as the Cape Agamemnon reached near
</DIV>
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    <BR>
    27
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    historically low levels at the end of 2008, from which they have
    not significantly recovered. Although the Cape Agamemnon is
    currently deployed on a period time charter, in the future the
    combined company may have to charter it pursuant to short-term
    time charters, and may be exposed to changes in spot market and
    short-term charter rates for drybulk carriers, and such changes
    may affect the combined company&#146;s earnings and the value of
    the Cape Agamemnon at any given time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Moreover, the factors affecting the supply and demand for
    drybulk vessels are outside of the combined company&#146;s
    control and are difficult to predict with confidence. As a
    result, the nature, timing, direction and degree of changes in
    industry conditions are also unpredictable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Factors that influence demand for vessel capacity include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    demand for and production of drybulk products;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    global and regional economic and political conditions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    environmental and other regulatory developments;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the distance drybulk cargoes are to be moved by sea;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in seaborne and other transportation patterns.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Factors that influence the supply of vessel capacity include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of newbuild deliveries, which among other factors
    relates to the ability of shipyards to deliver newbuilds by
    contracted delivery dates and the ability of purchasers to
    finance such newbuilds;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the scrapping rate of older vessels;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    port and canal congestion;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of vessels that are in or out of service, including
    due to vessel casualties;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in environmental and other regulations that may limit
    the useful lives of vessels.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP currently anticipates that the future demand for the Cape
    Agamemnon following completion of its charter and, in turn,
    drybulk charter rates, will be dependent, among other things,
    upon economic growth in the global economy including the
    world&#146;s developing economies such as China, India, Brazil
    and Russia, seasonal and regional changes in demand, changes in
    the capacity of the global drybulk vessel fleet and the sources
    and supply of drybulk cargo to be transported by sea. A decline
    in demand for commodities transported in drybulk vessels or an
    increase in supply of drybulk vessels could cause a significant
    decline in charter rates, which could materially adversely
    affect the combined company&#146;s business, financial condition
    and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    Cape Agamemnon is currently chartered at rates that are at a
    substantial premium to the spot and period market, and the loss
    of this charter could result in a significant loss of expected
    future revenues and cash flows.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Cape Agamemnon is currently under a 10&#160;year time
    charter to Cosco Bulk Carrier Co. Ltd (&#147;Cosco&#148;), an
    affiliate of the COSCO Group and one of the largest dry bulk
    charterers globally, which commenced in July 2010, and the
    earliest expiry under the charter is June 2020. The gross
    charter rate is $53,100 ($50,445 net) per day until July 2015
    and from July 2015 until the end of the term $33,100&#160;gross
    ($31,445 net) per day, which is a substantial premium to current
    market levels.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The loss of this customer could result in a significant loss of
    revenues, cash flow and the combined company&#146;s ability to
    maintain or improve distributions longer term. The combined
    company could lose this customer or the benefits of the charter
    entered into with it if, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer faces financial difficulties forcing it to declare
    bankruptcy or making it impossible for it to perform its
    obligations under the charter, including the payment of the
    agreed rates in a timely manner;
</TD>
</TR>

</TABLE>
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    <BR>
    28
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer fails to make charter payments because of its
    financial inability, disagreements with the combined company or
    otherwise;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer seeks to re-negotiate the terms of the charter
    agreement due to prevailing economic and market conditions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer exercises certain rights to terminate the charter;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer terminates the charter because the combined company
    fails to comply with the terms of the charter, the vessel is
    lost or damaged beyond repair, there are serious deficiencies in
    the vessel or prolonged periods of off-hire, or the combined
    company defaults under the charter;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a prolonged force majeure event affecting the customer,
    including war or political unrest prevents the combined company
    from performing services for that the;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the customer terminates the charter because the combined company
    fails to comply with the safety and regulatory criteria of the
    charterer or the rules and regulations of various maritime
    organizations and bodies.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event the combined company loses the benefit of the
    charter with Cosco prior to its expiration date, it would have
    to recharter the vessel at the then prevailing charter rates. In
    the event the current low rate environment continues, the
    combined company may not be able to obtain competitive, or
    profitable, rates for this vessel and the combined
    company&#146;s earnings and ability to make cash distributions
    may be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    negative change in the economic conditions in the United States,
    the European Union or the Asian region, especially in China,
    Japan or India, could reduce drybulk trade and demand, which
    could reduce charter rates and have a material adverse effect on
    the combined company&#146;s business, financial condition and
    results of operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A significant number of the port calls made by Capesize bulk
    carriers involve the loading or discharging of raw materials in
    ports in the Asian region, particularly China, Japan and India.
    As a result, a negative change in economic conditions in any
    Asian country, particularly China, Japan or, to a lesser extent,
    India, could have a material adverse effect on the combined
    company&#146;s business, financial position and results of
    operations, as well as its future prospects, by reducing demand
    and, as a result, charter rates and affecting the combined
    company&#146;s ability to re-charter the Cape Agamemnon at a
    profitable rate. In past years, China and India have had two of
    the world&#146;s fastest growing economies in terms of gross
    domestic product and have been the main driving force behind
    increases in marine drybulk trade and the demand for drybulk
    vessels. If economic growth declines in China, Japan, India and
    other countries in the Asian region, the combined company may
    face decreases in such drybulk trade and demand. Moreover, a
    slowdown in the United States and Japanese economies, as has
    occurred recently, or the economies of the European Union or
    certain Asian countries will likely adversely affect economic
    growth in China, India and elsewhere. Such an economic downturn
    in any of these countries could have a material adverse effect
    on the combined company&#146;s business, financial condition and
    results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">An
    oversupply of drybulk vessel capacity may lead to reductions in
    charter rates and profitability.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The market supply of drybulk vessels has been increasing, and
    the number of drybulk vessels on order as of May&#160;1, 2011,
    was approximately 45.6% of the then-existing global drybulk
    fleet in terms of dwt, with deliveries expected mainly during
    the succeeding 24&#160;months, although available data with
    regard to cancellations of existing newbuild orders or delays of
    newbuild deliveries are not always accurate. During the recent
    economic crisis, it was also observed that significantly fewer
    vessels were being scrapped as compared with prior periods. As a
    result, the drybulk fleet remains an aged fleet that has not
    decreased in number. An oversupply of drybulk vessel capacity
    will likely result in a reduction of charter hire rates. Upon
    the expiration of its current period time charter in June 2020,
    if the combined company cannot enter into a new period time
    charter for the Cape Agamemnon on acceptable terms, it may have
    to secure charters in the spot market,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    where charter rates are more volatile and revenues are,
    therefore, less predictable, or it may not be able to charter
    the vessel at all.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, a material increase in the net supply of drybulk
    vessel capacity without corresponding growth in drybulk vessel
    demand could have a material adverse effect on the Cape
    Agamemnon&#146;s utilization, and could, accordingly, materially
    adversely affect the combined company&#146;s business, financial
    condition and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    international drybulk shipping industry is highly competitive,
    and as a new entrant in this industry with only one drybulk
    vessel in its fleet, the combined company may not be able to
    compete successfully for charters with established companies or
    other new entrants with greater resources, and it may not be
    able to successfully operate the vessel.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both CPLP and Crude have historically owned tanker vessels and
    been active in the tanker market only. CPLP employs the Cape
    Agamemnon in the highly competitive drybulk market in which it
    has no prior experience. The drybulk market is capital intensive
    and highly fragmented. Competition arises primarily from other
    vessel owners, some of which have substantially greater
    resources than CPLP has or the combined company will have.
    Competition for the transportation of drybulk cargo by sea is
    intense and depends on price, customer relationships, operating
    expertise, professional reputation and size, age, location and
    condition of the vessel. In this highly fragmented market,
    established companies operating larger fleets as well as
    additional competitors with greater resources may be able to
    offer lower charter rates than the combined company is able to
    offer, which could have a material adverse effect on the
    combined company&#146;s ability to utilize the Cape Agamemnon
    and, accordingly, its profitability.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    operation of drybulk vessels has certain unique operational
    risks, and failure to adequately maintain the Cape Agamemnon
    could have a material adverse effect on the combined
    company&#146;s business, financial condition and results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Cape Agamemnon is the only drybulk vessel in the combined
    company&#146;s fleet. With a drybulk vessel, the cargo itself
    and its interaction with the vessel may create operational
    risks. By their nature, drybulk cargoes are often heavy, dense
    and easily shifted, and they may react badly to water exposure.
    In addition, drybulk vessels are often subjected to battering
    treatment during unloading operations with grabs, jackhammers
    (to pry encrusted cargoes out of the hold) and small bulldozers.
    This treatment may cause damage to the vessel. Vessels damaged
    due to treatment during unloading procedures may be more
    susceptible to breach while at sea. Breaches of a drybulk
    vessel&#146;s hull may lead to the flooding of the vessel&#146;s
    holds. If a drybulk vessel suffers flooding in its forward
    holds, the bulk cargo may become so dense and waterlogged that
    its pressure may buckle the vessel&#146;s bulkheads, leading to
    the loss of a vessel. If CPLP or Capital Maritime, as manager,
    does not adequately maintain the Cape Agamemnon, it may be
    unable to prevent these events. The occurrence of any of these
    events could have a material adverse effect on the combined
    company&#146;s business, financial condition and results of
    operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    Crude vessels are managed under a floating fee management
    agreement, whereby Crude reimburses the manager for all expenses
    incurred in connection with the management of the vessels. An
    increase in operating costs could adversely affect the combined
    company&#146;s cash flows and financial condition and its
    ability to make cash distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude vessels are managed under a floating fee management
    agreement and CPLP vessels are managed under a fixed-fee
    management agreement. Under the Crude management agreement,
    however, the combined company must pay for vessel operating
    expenses (including crewing, repairs and maintenance, insurance,
    stores, lube oils and communication expenses) as incurred. These
    expenses depend upon a variety of factors, many of which will be
    beyond the combined company&#146;s or its manager&#146;s
    control. Some of these costs, primarily relating to crewing,
    insurance and enhanced security measures, have been increasing
    and may increase in the future. Increases in any of these costs
    would decrease the combined company&#146;s earnings, cash flows
    and the amount of cash available for distribution to its
    unitholders.
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the manager has the right to terminate the Crude
    management agreement and, under certain circumstances, could
    receive substantial sums in connection with such termination;
    however, even if the board of directors of the combined company
    or its unitholders are dissatisfied with the manager, there are
    limited circumstances under which the combined company can
    terminate the Crude management agreement. If the manager elects
    to terminate the Crude management agreement, in accordance with
    the terms of the agreement a termination payment, which could be
    substantial, will be payable to the manager. This termination
    payment was initially set at $9.0&#160;million and increases on
    each one-year anniversary during which the Crude management
    agreement remains in effect (on a compounding basis) in
    accordance with the total percentage increase, if any, in the
    Consumer Price Index over the immediately preceding twelve
    months. As of March&#160;18, 2011, the amount of the termination
    payment had increased to $9.2&#160;million.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If the
    merger fails to qualify as a &#147;reorganization&#148; within
    the meaning of Section&#160;368(a) of the Internal Revenue Code,
    Crude shareholders may be required to recognize gain or loss on
    the exchange of their shares of Crude common stock and
    Class&#160;B stock in the merger for United States federal
    income tax purposes.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP and Crude have structured the merger to qualify as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code. Neither CPLP nor Crude intends
    to request any ruling from the U.S.&#160;Internal Revenue
    Service (the &#147;IRS&#148;) as to the tax consequences of the
    exchange of shares of Crude common stock for CPLP common units
    in the merger. If the merger fails to qualify as a
    reorganization, a holder of Crude common stock or Crude
    Class&#160;B stock would generally recognize gain or loss for
    United States federal income tax purposes on each share of Crude
    common stock or Crude Class&#160;B stock exchanged in the merger
    in an amount equal to the difference between that holder&#146;s
    basis in such stock and the fair market value of the CPLP common
    units the holder of Crude common stock or Crude Class&#160;B
    stock receives or may receive in exchange for each such share of
    Crude common stock or Crude Class&#160;B stock. Holders who
    recognize gain will generally be subject to United States
    federal income tax on such gain if they are U.S.&#160;persons
    for United States federal income tax purposes but will generally
    not be subject to United States federal income tax on such gain
    if they are not U.S.&#160;persons. You are urged to consult with
    your own tax advisor regarding the proper reporting of the
    amount and timing of such gain or loss. See &#147;Material
    United States Federal Income Tax Consequences to Crude
    Shareholders&#160;&#151; The Merger&#148; beginning on
    page&#160;74.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">U.S.
    tax authorities could treat CPLP as a &#147;passive foreign
    investment company,&#148; which could have adverse United States
    federal income tax consequences to U.S. persons who hold CPLP
    common units.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A foreign entity taxed as a corporation for United States
    federal income tax purposes will be treated as a &#147;passive
    foreign investment company&#148; (a &#147;PFIC&#148;) for United
    States federal income tax purposes if (i)&#160;at least 75% of
    its gross income for any taxable year consists of certain types
    of &#147;passive income,&#148; or (ii)&#160;at least 50% of the
    average value of the entity&#146;s assets produce or are held
    for the production of those types of &#147;passive income.&#148;
    For purposes of these tests, &#147;passive income&#148; includes
    dividends, interest, gains from the sale or exchange of
    investment property, and rents and royalties other than rents
    and royalties that are received from unrelated parties in
    connection with the active conduct of a trade or business. For
    purposes of these tests, income derived from the performance of
    services does not constitute &#147;passive income.&#148;
    U.S.&#160;persons who own shares of a PFIC are subject to a
    disadvantageous U.S.&#160;federal income tax regime with respect
    to the income derived by the PFIC, the distributions they
    receive from the PFIC, and the gain, if any, they derive from
    the sale or other disposition of their shares in the PFIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on CPLP&#146;s current and projected method of operation,
    CPLP believes that it is not currently a PFIC and does not
    expect to become a PFIC in the future. CPLP intends to treat its
    income from time chartering activities as non-passive income,
    and the vessels engaged in those activities as non-passive
    assets, for PFIC purposes. However, no assurance can be given
    that the IRS will accept this position. There are legal
    uncertainties involved in this determination. Accordingly, no
    assurance can be given that the IRS or a United States court
    will accept the position that CPLP is not a PFIC and there is a
    risk that the IRS or a United States court could determine that
    CPLP is a PFIC. Moreover, no assurance can be given that CPLP
    would not become a PFIC for any future taxable year if there
    were to be changes in CPLP&#146;s assets, income or operations.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;Material United States Federal Income Tax Consequences
    to Crude Shareholders&#160;&#151; Ownership and Disposition of
    CPLP Common Units&#160;&#151; Certain PFIC Considerations,
    Applicable to U.S.&#160;Holders&#148; beginning on page&#160;78.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP
    may have to pay tax on United States source income, which would
    reduce earnings.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the Code, 50% of the gross shipping income of a
    vessel-owning or chartering corporation that is attributable to
    transportation that either begins or ends, but that does not
    both begin and end, in the U.S.&#160;is characterized as
    U.S.&#160;source shipping income, and such income generally is
    subject to a 4% United States federal income tax without
    allowance for deduction, unless that corporation qualifies for
    exemption from tax under Section&#160;883 of the Code. CPLP
    believes that it and each of its subsidiaries will qualify for
    this statutory tax exemption, and CPLP will take this position
    for United States federal income tax return reporting purposes.
    See &#147;Material United States Federal Income Tax Consequences
    to Crude Shareholders&#160;&#151; United States Federal Income
    Tax Considerations Relating to CPLP&#160;&#151; The
    Section&#160;883 Exemption and the Taxation of Operating
    Income&#148; beginning on page&#160;82. However, there are
    factual circumstances, including some that may be beyond
    CPLP&#146;s control, which could cause CPLP to lose the benefit
    of this tax exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Additionally, a prerequisite for this statutory tax exemption is
    that CPLP&#146;s common units represent more than 50% of the
    voting power and value of CPLP, and while CPLP believes that the
    CPLP common units represent more than 50% of the voting power of
    CPLP because holders of the common units (other than Capital
    Maritime and its affiliates) can elect a majority of the CPLP
    Board, the IRS could disagree with CPLP&#146;s position. In
    particular, although CPLP has elected to be treated as a
    corporation for United States federal income tax purposes, for
    corporate law purposes CPLP is organized as a limited
    partnership under Marshall Islands law, and CPLP&#146;s general
    partner will be responsible for managing our business and
    affairs on a
    <FONT style="white-space: nowrap">day-to-day</FONT>
    basis and has been granted certain veto rights over decisions of
    the CPLP Board. The IRS could assert that the aforementioned
    powers of the general partner effectively reduce the voting
    power of the CPLP common units to 50% or less of the overall
    voting power of CPLP. Therefore, CPLP can give no assurances
    that the IRS will not take a different position regarding
    CPLP&#146;s qualification, or the qualification of any of
    CPLP&#146;s subsidiaries, for this tax exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If CPLP or its subsidiaries are not entitled to this exemption
    under Section&#160;883 for any taxable year, CPLP or its
    subsidiaries generally would be subject for those years to a 4%
    gross income tax on their U.S.&#160;source shipping income. The
    imposition of this taxation could have a negative effect on
    CPLP&#146;s business and would result in decreased earnings
    available for distribution to holders of common units.
</DIV>

<A name='Y91492134'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    RELATING TO FINANCING ACTIVITIES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    combined company will have incurred significant indebtedness,
    which could affect its ability to finance its operations, pursue
    desirable business opportunities or successfully run its
    business in the future, as well as its ability to make cash
    distributions. Any new or amended credit facilities the combined
    company enters into in order to refinance its debt will contain
    restrictive covenants, which may limit its business and
    financing activities, including its ability to make cash
    distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has borrowed approximately $134.6&#160;million of
    $200.0&#160;million available under its revolving credit
    facility. The combined company expects to refinance the Crude
    facility, but its ability to do so will depend upon, among other
    things, its compliance with its loan facility covenants as well
    as future financial and operating performance, which may be
    affected by the level of the vessel values of the combined
    company&#146;s assets, financial ratios and earnings, prevailing
    economic conditions and financial, business, regulatory and
    other factors, some of which are beyond its control. The
    combined company may not be successful in refinancing the
    existing Crude indebtedness on similar terms or at all, and any
    new indebtedness it may enter into may have additional
    restrictions that the combined company will need to comply with,
    which may limit its business and financing activities, including
    its ability to make cash distributions.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP had drawn (i)&#160;$366.5&#160;million of
    $370.0&#160;million available under its 2007 credit facility,
    (ii)&#160;$107.5&#160;million of $350.0&#160;million available
    under its 2008 credit facility, and
    (iii)&#160;$25.0&#160;million of $25.0&#160;million available
    under its 2011 credit facility. The combined company&#146;s
    leverage and debt service obligations could have significant
    consequences, including the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If future cash flows are insufficient, it may need to incur
    further indebtedness in order to make the capital expenditures
    and other expenses or investments planned by&#160;it.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If future cash flows are insufficient and the combined company
    is not able to service its debt or, when the
    <FONT style="white-space: nowrap">non-amortizing</FONT>
    period of its existing credit facilities expires (which is
    scheduled to occur as early as June 2012 in the case of the
    $370.0&#160;million facility and in March 2013 for the
    $350.0&#160;million and $25.0&#160;million facilities), to
    refinance its existing indebtedness, its obligation to make
    principal payments under its credit facilities starting in
    September 2012&#160;may force the combined company to take
    actions such as reducing or eliminating distributions, reducing
    or delaying business activities, acquisitions, investments or
    capital expenditures, selling assets, restructuring or
    refinancing its debt, or seeking additional equity capital or
    bankruptcy protection.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Its indebtedness will have the general effect of reducing its
    flexibility to react to changing business and economic
    conditions insofar as they affect its financial condition and,
    therefore, may pose substantial risk to its unitholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    In the event that it is liquidated, any of its senior or
    subordinated creditors and any senior or subordinated creditors
    of its subsidiaries will be entitled to payment in full prior to
    any distributions to the holders of its CPLP common units.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude&#146;s credit facility matures in 2015, and CPLP&#146;s
    2007, 2008 and 2011 credit facilities mature in 2017, 2018 and
    2018, respectively. The combined company&#146;s ability to
    secure additional financing prior to or after that time, if
    needed, may be substantially restricted by the existing level of
    the combined company&#146;s indebtedness and the restrictions
    contained in its debt instruments. Upon maturity, the combined
    company will be required to dedicate a substantial portion of
    its cash flow to the payment of such debt, which will reduce the
    amount of funds available for operations, capital expenditures
    and future business opportunities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The occurrence of any one of these events could have a material
    adverse effect on the combined company&#146;s business,
    financial condition, results of operations, prospects and
    ability to make distributions and to satisfy its obligations
    under its credit facilities or any debt securities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If the
    combined company defaults under its credit facilities, it could
    forfeit its rights in certain of its vessels and their charters
    and its ability to make cash distributions may be
    impaired.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP have pledged their respective vessels as security
    to the lenders under their respective credit facilities. Default
    under these credit facilities, if not waived or modified, would
    permit the lenders to foreclose on the mortgages over the
    vessels and the related collateral, and the combined company
    could lose its rights in the vessels and their charters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    When final payment is due under loan agreements, each company
    must repay any borrowings outstanding, including balloon
    payments. To the extent that cash flows are insufficient to
    repay any of these borrowings or asset cover is inadequate due
    to a deterioration in vessel values, the combined company will
    need to refinance some or all of its loan agreements, replace
    them with alternate credit arrangements or provide additional
    security. The combined company may not be able to refinance or
    replace its loan agreements or provide additional security at
    the time they become due.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event the combined company is not able to refinance its
    existing debt obligations, or if its operating results are not
    sufficient to service current or future indebtedness, or to make
    relevant principal repayments if necessary, it may be forced to
    take actions such as reducing or eliminating distributions,
    reducing or delaying business activities, acquisitions,
    investments or capital expenditures, selling assets,
    restructuring or refinancing debt, or seeking additional equity
    capital or bankruptcy protection. In addition, the terms of any
    refinancing or
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    alternate credit arrangement may restrict the combined
    company&#146;s financial and operating flexibility and its
    ability to make cash distributions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If the
    combined company is in breach of any of the terms of its credit
    facilities, a significant portion of its obligations may become
    immediately due and payable and its lenders&#146; commitments to
    make further loans to it may terminate. It may also be unable to
    execute its business strategy or make cash
    distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The combined company&#146;s ability to comply with the covenants
    and restrictions contained in its credit facilities and any
    other debt instruments it may enter into in the future may be
    affected by events beyond its control, including prevailing
    economic, financial and industry conditions. If vessel
    valuations or market or other economic conditions deteriorate
    further, the combined company&#146;s ability to comply with
    these covenants may be impaired. If the combined company is in
    breach of any of the restrictions, covenants, ratios or tests in
    the combined company&#146;s credit facilities, especially if the
    combined company triggers a cross-default currently contained in
    its credit facilities or any interest rate swap agreements it
    has entered into pursuant to their terms, a significant portion
    of the combined company&#146;s obligations may become
    immediately due and payable, and its lenders&#146; commitment to
    make further loans to it may terminate. The combined company may
    not be able to reach agreement with its lenders to amend the
    terms of the loan agreements or waive any breaches and it may
    not have, or be able to obtain, sufficient funds to make any
    accelerated payments. In addition, obligations under the
    combined company&#146;s credit facilities are secured by its
    vessels, and if it is unable to repay debt under the credit
    facilities, the lenders could seek to foreclose on those assets.
    Furthermore, if funds under the combined company&#146;s credit
    facilities become unavailable as a result of a breach of the
    combined company&#146;s covenants or otherwise, it may not be
    able to execute its business strategy, which could have a
    material adverse effect on the combined company&#146;s business,
    results of operations and financial condition and its ability to
    make cash distributions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Decreases
    in asset values due to circumstances outside of the combined
    company&#146;s control may limit its ability to refinance
    existing debt or make further draw-downs under existing credit
    facilities, which may limit the combined company&#146;s ability
    to purchase additional vessels or pay distributions in the
    future. In addition, if asset values continue to decrease
    significantly, the combined company may have to pre-pay part of
    its outstanding debt or provide additional security in order to
    remain in compliance with covenants under existing credit
    facilities.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of the credit facilities of the combined company requires
    that a specific aggregate fair market value of the vessels in
    the fleet be maintained as a percentage of the aggregate amount
    outstanding under such credit facility. Any contemplated vessel
    acquisitions will have to be at levels that do not impair the
    required ratios. The recent global economic downturn has had an
    adverse effect on tanker asset values which is likely to persist
    if the economic slowdown resumes. If the estimated asset values
    of the vessels in the combined company&#146;s fleet continue to
    decrease, such decreases may limit the amounts the combined
    company can draw down under its current credit facilities to
    purchase additional vessels and the ability to expand the
    combined company&#146;s fleet. In addition, the combined company
    may be obligated to pre-pay part of its outstanding debt or
    provide additional security in order to remain in compliance
    with the relevant covenants under its existing credit
    facilities. Such decreases could have a material adverse effect
    on the combined company&#146;s business, results of operations
    and financial condition and its ability to refinance its
    existing facilities or to make cash distributions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    limited number of financial institutions hold Crude&#146;s and
    CPLP&#146;s cash, including financial institutions located in
    Greece.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP maintain all of their cash with a limited number
    of financial institutions, including institutions located in
    Greece. The financial institutions located in Greece may be
    subsidiaries of international banks or Greek financial
    institutions. These balances may not be covered by insurance in
    the event of default by these financial institutions. The
    ongoing fiscal situation in Greece, including the possibility of
    further sovereign credit rating downgrades and the restructuring
    of Greece&#146;s sovereign debt, may result in an event of
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    default by some or all of these financial institutions. The
    occurrence of such a default could therefore have a material
    adverse effect on the combined company&#146;s business,
    financial condition, results of operations and cash flows.
</DIV>

<A name='Y91492135'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    RELATING TO CPLP&#146;s COMMON UNITS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP
    cannot assure you that it will pay any
    distributions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and CPLP currently observe a cash dividend and cash
    distribution policy, respectively, implemented by their
    respective boards of directors. The actual declaration of future
    cash dividends or distributions, and the establishment of record
    and payment dates, is subject to final determination by each
    company&#146;s board of directors each quarter after its review
    of financial performance. CPLP&#146;s ability to pay
    distributions in any period will depend upon factors including
    but not limited to financial condition, results of operations,
    prospects and applicable provisions of Marshall Islands law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The timing and amount of distributions, if any, could be
    affected by factors affecting cash flows, results of operations,
    required capital expenditures, or reserves. Maintaining the
    distribution policy will depend on CPLP&#146;s and Crude&#146;s
    cash earnings, financial condition and cash requirements and
    could be affected by factors, including the loss of a vessel,
    required capital expenditures, reserves established by the CPLP
    Board, increased or unanticipated expenses, additional
    borrowings and ability to refinance existing indebtedness, asset
    valuations, or future issuances of securities, which may be
    beyond CPLP&#146;s control.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a limited partnership shall not make
    a distribution to a partner to the extent that at the time of
    the distribution, after giving effect to the distribution, all
    liabilities of the limited partnership, other than liabilities
    to partners on account of their partnership interests and
    liabilities for which the recourse of creditors is limited to
    specified property of the limited partnership, exceed the fair
    value of the assets of the limited partnership, except that the
    fair value of property that is subject to a liability for which
    the recourse of creditors is limited shall be included in the
    assets of the limited partnership only to the extent that the
    fair value of that property exceeds that liability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP&#146;s distribution policy may be changed at any time, and
    from time to time, by its board of directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Future
    sales of CPLP common units could cause the market price of CPLP
    common units to decline.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The market price of CPLP common units could decline due to sales
    of a large number of units in the market, including sales of
    units by CPLP&#146;s large unitholders, or the perception that
    these sales could occur. These sales could also make it more
    difficult or impossible for CPLP to sell equity securities in
    the future at a time and price that it deems appropriate to
    raise funds through future offerings of common units.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP&#146;s
    organization as a limited partnership under the laws of the
    Republic of the Marshall Islands may limit the ability of
    unitholders to protect their interests.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP&#146;s affairs are governed by the CPLP Partnership
    Agreement and the Marshall Islands Limited Partnership Act
    (&#147;MILPA&#148;). The provisions of the MILPA resemble
    provisions of the limited partnership laws of a number of states
    in the United States, most notably Delaware. The MILPA Act also
    provides that it is to be applied and construed to make it
    uniform with the Delaware Revised Uniform Partnership Act and,
    so long as it does not conflict with the MILPA or decisions of
    the Marshall Islands courts, interpreted according to the
    non-statutory law (or case law) of the State of Delaware.
    However, there have been few, if any, judicial cases in the
    Republic of the Marshall Islands interpreting the MILPA. For
    example, the rights and fiduciary responsibilities of directors
    under the laws of the Republic of the Marshall Islands are not
    as clearly established as the rights and fiduciary
    responsibilities of directors under statutes or judicial
    precedent in existence in certain U.S.&#160;jurisdictions.
    Although the MILPA does specifically incorporate the
    non-statutory law, or judicial case law, of the State of
    Delaware, CPLP&#146;s public unitholders may have more
    difficulty in
</DIV>
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    protecting their interests in the face of actions by management,
    directors or controlling shareholders than would shareholders of
    a limited partnership organized in a U.S.&#160;jurisdiction.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">It may
    not be possible for investors to enforce U.S. judgments against
    CPLP.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP is organized under the laws of the Republic of the Marshall
    Islands, as is its general partner, and most of its subsidiaries
    are incorporated or organized under the laws of the Republic of
    the Marshall Islands. Substantially all of CPLP&#146;s assets
    and those of its subsidiaries are located outside the United
    States. As a result, it may be difficult or impossible for
    U.S.&#160;investors to serve process within the United States
    upon CPLP or to enforce judgment upon CPLP for civil liabilities
    in U.S.&#160;courts. In addition, you should not assume that
    courts in the countries in which CPLP or its subsidiaries are
    incorporated or organized or where CPLP&#146;s assets or the
    assets of its subsidiaries are located (i)&#160;would enforce
    judgments of U.S.&#160;courts obtained in actions against CPLP
    or its subsidiaries based upon the civil liability provisions of
    applicable U.S.&#160;federal and state securities laws or
    (ii)&#160;would enforce, in original actions, liabilities
    against CPLP or its subsidiaries based upon these laws.
</DIV>
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    <BR>
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<A name='Y91492136'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SPECIAL
    NOTE&#160;REGARDING FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This proxy statement/prospectus and the documents that are
    incorporated into this proxy statement/prospectus by reference
    may contain or incorporate by reference statements that do not
    directly or exclusively relate to historical facts, i.e.,
    forward-looking statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Broadly speaking, forward-looking statements include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements relating to the benefits of the merger;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements containing projections of revenues, income (including
    income loss), earnings (including earnings loss) per share,
    capital expenditures, dividends, distributions, capital
    structure, or other financial items;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements of the plans and objectives of management for future
    operations, including plans or objectives relating to products
    or services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements of future economic performance, including statements
    contained in discussion and analysis of financial condition by
    management or in results of operations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements of assumptions underlying or relating to the
    foregoing;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reports issued by an outside reviewer retained by CPLP or Crude,
    to the extent any such report assesses a forward-looking
    statement made by CPLP or Crude, as applicable;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    statements containing a projection or estimate of any other item
    required by applicable regulations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You can typically identify forward-looking statements by the use
    of forward-looking words, such as &#147;may,&#148;
    &#147;will,&#148; &#147;could,&#148; &#147;project,&#148;
    &#147;believe,&#148; &#147;anticipate,&#148; &#147;expect,&#148;
    &#147;estimate,&#148; &#147;continue,&#148;
    &#147;potential,&#148; &#147;plan,&#148; &#147;forecast&#148;
    and other similar words. Those statements represent our
    intentions, plans, expectations, assumptions and beliefs about
    future events and are subject to risks, uncertainties and other
    factors. Many of those factors are outside our control and could
    cause actual results to differ materially from the results
    expressed or implied by those forward-looking statements.
    Included among the important factors that, in Crude&#146;s and
    CPLP&#146;s view, could cause actual results to differ
    materially from such forward-looking statements are the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the factors described under the section captioned &#147;Risk
    Factors&#148; beginning on page&#160;22;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to obtain the approval of the transaction by
    Crude&#146;s shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to satisfy other conditions to the transaction on
    the proposed terms and timeframe;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to realize the expected benefits to the degree, in
    the amounts or in the timeframe anticipated;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to integrate Crude&#146;s businesses with those of
    CPLP in a timely and cost-efficient manner;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in demand and supply;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a material decline in rates in the crude or product tanker
    markets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a material decline in asset values;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in production of or demand for oil and petroleum
    products, generally or in particular regions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to refinance existing indebtedness or the debt of
    Crude;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the ability to access debt and equity markets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    greater than anticipated levels of tanker new building orders or
    lower than anticipated rates of tanker scrapping;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in rules and regulations applicable to the tanker
    industry, including, without limitation, legislation adopted by
    international organizations such as the IMO and the European
    Union or by individual countries;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    actions taken by regulatory authorities;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    37
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in trading patterns significantly impacting overall
    tanker tonnage requirements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the typical seasonal variations in tanker charter
    rates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the cost of other modes of oil transportation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in oil transportation technology;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increases in costs, including, without limitation, crew wages,
    insurance, provisions, repairs and maintenance;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in general domestic and international political
    conditions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the condition of Crude&#146;s or CPLP&#146;s vessels
    or applicable maintenance or regulatory standards (which may
    affect, among other things, the combined company&#146;s
    anticipated drydocking or maintenance and repair costs);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the itineraries of Crude&#146;s or CPLP&#146;s
    vessels;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the fulfillment of the closing conditions under, or the
    execution of customary additional documentation for, CPLP&#146;s
    agreements to acquire vessels;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other factors listed from time to time in Crude&#146;s or
    CPLP&#146;s filings with the Securities and Exchange Commission,
    including, without limitation, their respective Annual Reports
    on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 and their respective
    subsequent reports on
    <FONT style="white-space: nowrap">Form&#160;6-K.</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The areas of risk and uncertainty described above should be
    considered in connection with any written or oral
    forward-looking statements that may be made after the date of
    this proxy statement/prospectus by Crude or CPLP or anyone
    acting for any or all of them. The ability of Crude, CPLP, or
    the combined company to pay dividends or distributions, as the
    case may be, in any period will depend upon factors including
    applicable provisions of law and the final determination by the
    board of directors each quarter after its review of the combined
    company&#146;s financial performance. The timing and amount of
    dividends or distributions, as the case may be, if any, could
    also be affected by factors affecting cash flows, results of
    operations, required capital expenditures, or reserves. As a
    result, the amount of dividends or distributions, as the case
    may be, actually paid may vary from the amounts currently
    estimated. Crude and CPLP disclaim any intention or obligation
    to update any forward-looking statements as a result of
    developments occurring after the date of this proxy
    statement/prospectus.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    38
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492137'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">THE CRUDE
    SPECIAL MEETING</FONT></B>
</DIV>

</A>
<A name='Y91492138'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude is furnishing this proxy statement/prospectus to the Crude
    shareholders as part of the solicitation of proxies by the Crude
    Board for use at the special meeting of Crude shareholders to be
    held on&#160;&#160;&#160;&#160;, 2011, and at any adjournment
    thereof. This proxy statement/prospectus is first being
    furnished to Crude shareholders on or
    about&#160;&#160;&#160;&#160;, 2011 in connection with the vote
    on the Merger Proposal and the Adjournment Proposal. This
    document provides you with the information you need to know to
    be able to vote or instruct your vote to be cast at the Crude
    special meeting.
</DIV>

<A name='Y91492139'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Date,
    Time and Place</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The special meeting of Crude shareholders will be held
    at&#160;&#160;&#160;&#160; (Athens, Greece time),
    on&#160;&#160;&#160;&#160;, 2011, at&#160;&#160;&#160;&#160;,
    located at 3 Iassonos Street, Piraeus, 18357 Greece.
</DIV>

<A name='Y91492140'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Purpose
    of the Crude Special Meeting</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At the special meeting, Crude is asking holders of Crude common
    stock and Crude Class&#160;B stock to approve the following
    proposals:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Merger Proposal&#160;&#151; a proposal to adopt the
    Agreement and Plan of Merger, dated as of May&#160;5, 2011, by
    and among CPLP, Crude, Capital GP and MergerCo, and to approve
    the transactions contemplated thereby, including the merger,
    pursuant to which MergerCo will merge with and into Crude, as a
    result of which Crude will become a wholly-owned subsidiary of
    CPLP;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Adjournment Proposal&#160;&#151; a proposal to authorize the
    adjournment of the special meeting to a later date or dates, if
    necessary, to permit further solicitation and vote of proxies in
    the event there are insufficient votes for, or otherwise in
    connection with, the adoption of the Merger Proposal and the
    transactions contemplated thereby.
</TD>
</TR>

</TABLE>

<A name='Y91492141'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of Crude Independent Committee</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    has determined that the merger agreement and the transactions
    contemplated thereby, including the merger, are fair and
    reasonable to, and in the best interests of, the Unaffiliated
    Shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    recommended to the Crude Board that it declare the advisability
    of, and approve, the merger agreement and the transactions
    contemplated thereby, including the merger;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    recommended to the Crude Board that it recommend that
    Crude&#146;s shareholders vote &#147;FOR&#148; the merger
    agreement and the transactions contemplated thereby, including
    the merger.
</TD>
</TR>

</TABLE>

<A name='Y91492142'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of Crude Board of Directors</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    has determined that the merger agreement and the transactions
    contemplated thereby, including the merger, are fair to and
    reasonable, and in the best interests of, Crude and its
    shareholders, including the Unaffiliated Shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    has adopted and approved the merger agreement and the
    transactions contemplated thereby, including the merger;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    recommends that the holders of the outstanding shares of Crude
    common stock and the sole holder of all outstanding shares of
    Crude Class&#160;B stock vote &#147;FOR&#148; the Merger
    Proposal.
</TD>
</TR>

</TABLE>
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    <BR>
    39
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='Y91492143'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Record
    Date; Who is Entitled to Vote</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board has fixed the close of business
    on&#160;&#160;&#160;&#160;, 2011, as the &#147;record date&#148;
    for determining those Crude shareholders entitled to notice of
    and to vote at the special meeting. As of the close of business
    on June&#160;8, 2011, there were 13,899,400&#160;shares of Crude
    common stock and 2,105,263&#160;shares of Crude Class&#160;B
    stock outstanding and entitled to vote. Each holder of Crude
    common stock is entitled to one vote per share, and each holder
    of Crude Class&#160;B stock is entitled to ten votes per share,
    on each proposal on which such shares are entitled to vote at
    the special meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of June 8, 2011, the Unaffiliated Shareholders, either
    directly or beneficially, owned 13,745,400&#160;shares, or
    approximately 98.9% of Crude&#146;s outstanding common stock.
</DIV>

<A name='Y91492144'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Quorum</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of the vote by the holders of Crude common stock
    and Crude Class&#160;B stock, considered as a single class, the
    holders of a majority in total voting power of the shares of
    Crude common stock and Crude Class&#160;B stock issued and
    outstanding as of the record date entitled to vote at the
    special meeting of the shareholders, present in person or
    represented by proxy, shall constitute a quorum. For purposes of
    the vote by the sole holder of Crude Class&#160;B stock, the
    holder of a majority in total voting power of shares of Crude
    Class&#160;B stock issued and outstanding as of the record date
    entitled to vote at the special meeting of the shareholders,
    present in person or represented by proxy, shall constitute a
    quorum. In the absence of a quorum the Chairman of the meeting
    or the holders of a majority of the votes entitled to be cast by
    the shareholders of Crude common stock and Crude Class&#160;B
    stock, considered as a single class, who are present in person
    or by proxy may adjourn the meeting.
</DIV>

<A name='Y91492145'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Abstentions
    and Broker Non-Votes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Proxies that are marked &#147;abstain&#148; and proxies relating
    to &#147;street name&#148; shares that are returned to us but
    marked by brokers as &#147;not voted&#148; will be treated as
    shares present for purposes of determining the presence of a
    quorum on all matters. The latter will not be treated as shares
    entitled to vote on the matter as to which authority to vote is
    withheld by the broker.
</DIV>

<A name='Y91492146'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Vote of
    Our Shareholders Required</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The adoption of the Merger Proposal will require the affirmative
    vote of the holders of a majority of the voting power of shares
    of Crude common stock and Crude Class&#160;B stock outstanding
    and entitled to vote at the Special Meeting, voting together as
    a single class; by the sole holder of shares of Crude
    Class&#160;B stock outstanding and entitled to vote at the
    Special Meeting, voting as a separate class; and by a majority
    of the voting power of the shares of Crude common stock
    outstanding and entitled to vote at the Special Meeting that are
    held by the Unaffiliated Shareholders, voting as a separate
    class. Because these three required votes are based on a
    majority of all shares outstanding (i.e., not just a majority of
    the shares present at the meeting and voting), if you abstain
    from voting, or if you fail to vote or fail to instruct your
    bank, brokerage firm or nominee how to vote, that will make it
    more difficult to achieve the votes required to approve the
    Merger Proposal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The adoption of the Adjournment Proposal will require the
    affirmative vote of the holders of a majority of the votes
    entitled to be cast by the holders of Crude common stock and
    Crude Class&#160;B stock, considered as a single class, who are
    present in person or by proxy. The special meeting may also be
    adjourned by the Chairman of the meeting.
</DIV>

<A name='Y91492147'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Voting
    Your Shares</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each share of Crude common stock that you own in your name
    entitles you to one vote for each proposal on which such shares
    are entitled to vote at the special meeting. Your proxy card
    shows the number of shares of Crude common stock that you own.
</DIV>
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    <BR>
    40
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There are two ways to ensure that your shares of Crude common
    stock are voted at the special meeting:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    You can cause your shares to be voted by signing and returning
    the enclosed proxy card. If you submit your proxy card, your
    &#147;proxy,&#148; whose name is listed on the proxy card, will
    vote your shares as you instruct on the proxy card. If you sign
    and return the proxy card but do not give instructions on how to
    vote your shares, your shares will be voted, as recommended by
    our board, &#147;FOR&#148; the adoption of the Merger Proposal
    and the Adjournment Proposal. Votes received after a matter has
    been voted upon at the special meeting will not be counted.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    You can attend the special meeting and vote in person. We will
    give you a ballot when you arrive. However, if your shares are
    held in the name of your broker, bank or another nominee, you
    must get a proxy from the broker, bank or other nominee. That is
    the only way we can be sure that the broker, bank or nominee has
    not already voted your shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IF YOU RETURN YOUR PROXY CARD WITHOUT AN INDICATION OF HOW
    YOU WISH TO VOTE, YOUR SHARES&#160;WILL BE VOTED IN FAVOR OF THE
    MERGER PROPOSAL&#160;AND THE ADJOURNMENT PROPOSAL.</B>
</DIV>

<A name='Y91492148'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Revoking
    Your Proxy</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you give a proxy, you may revoke it at any time before it is
    exercised by doing any one of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you may send another proxy card with a later date;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you may notify Crude&#146;s corporate secretary in writing
    before the special meeting that you have revoked your
    proxy;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you may attend the special meeting, revoke your proxy, and vote
    in person, as indicated above.
</TD>
</TR>

</TABLE>

<A name='Y91492149'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">No
    Additional Matters May Be Presented at the Special
    Meeting</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This special meeting has been called only to consider the
    adoption of the Merger Proposal and the Adjournment Proposal.
    Under Crude&#146;s bylaws, other than procedural matters
    incident to the conduct of the special meeting, no other matters
    may be considered at the special meeting if they are not
    included in the notice of the special meeting.
</DIV>

<A name='Y91492150'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appraisal
    Rights</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of the Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.
</DIV>

<A name='Y91492151'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Proxies
    and Proxy and Consent Solicitation Costs</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude is soliciting proxies on behalf of the Crude Board. This
    solicitation is being made by mail but also may be made by
    telephone or in person. Crude and its directors, officers and
    employees may also solicit proxies in person, by telephone or by
    other electronic means. Any solicitation made and information
    provided in such a solicitation will be consistent with the
    written proxy statement and proxy card. Morrow, a proxy
    solicitation firm that Crude has engaged to assist it in
    soliciting proxies, will be paid its customary fee of
    approximately $15,000, plus
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses.
</DIV>
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    <BR>
    41
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude will ask banks, brokers and other institutions, nominees
    and fiduciaries to forward proxy materials to their principals
    and to obtain their authority to execute proxies and voting
    instructions. Crude will reimburse them for their reasonable
    expenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you send in your completed proxy card, you may still vote
    your shares in person if you revoke your proxy before it is
    exercised at the special meeting.
</DIV>

<A name='Y91492152'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Support Agreement</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Evangelos M. Marinakis, Chairman of the Board and CEO of Crude,
    Ioannis E. Lazaridis, President of Crude, Gerasimos G.
    Kalogiratos, CFO of Crude, and CCIC, holder of all of the
    outstanding shares of Crude Class&#160;B stock, have entered
    into a support agreement pursuant to which they have agreed to
    vote their shares in favor of the transaction.
</DIV>

<A name='Y91492153'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Representatives
    of Deloitte. Hadjipavlou, Sofianos&#160;&#038; Cambanis
    S.A.</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Representatives of Deloitte. Hadjipavlou, Sofianos&#160;&#038;
    Cambanis S.A. are expected to be present at the Crude special
    meeting. The representatives of Deloitte. Hadjipavlou,
    Sofianos&#160;&#038; Cambanis S.A. will have the opportunity to
    make a statement regarding the proposed transaction if they
    desire to do so, and they are expected to be available to
    respond to appropriate questions from Crude shareholders at the
    Crude special meeting.
</DIV>

<A name='Y91492154'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Who Can
    Answer Your Questions About Voting Your Shares</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you have any questions about how to vote or direct a vote in
    respect of your shares of Crude common stock, you may call
    Morrow, Crude&#146;s proxy solicitor, at <B>+</B>1 800
    <FONT style="white-space: nowrap">662-5200</FONT> or
    Crude&#146;s corporate secretary at <B>+</B>30 210 4584 900.
</DIV>
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    <BR>
    42
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492155'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    PROPOSED TRANSACTION</FONT></B>
</DIV>

</A>
<A name='Y91492156'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Companies</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Carriers Corp.</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Piraeus, 18537
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Greece
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude Carriers Corp. is a corporation organized under the laws
    of the Republic of the Marshall Islands focusing on the maritime
    transportation of crude oil cargoes. It employs its vessels in
    the spot tanker market or under spot related employment. Crude
    owns a modern, high specification fleet of crude oil tankers,
    comprising two VLCCs (Very Large Crude Carriers) and three
    Suezmax tankers, with a weighted average age of 2.1&#160;years
    as of March&#160;31, 2011 and a total carrying capacity of
    approximately 1,058,344 dwt. Crude&#146;s vessels transport
    mainly crude oil and fuel oil along worldwide shipping routes.
    Capital Maritime, an international shipping company, serves as
    the manager of Crude&#146;s vessels. Currently three out of
    Crude&#146;s five vessels are employed with Shell under spot
    index linked time charter arrangements, which are also subject
    to a profit sharing arrangement. Shares of Crude common stock
    have traded on the NYSE under the symbol &#147;CRU&#148; since
    Crude&#146;s initial public offering in March 2010. As of
    March&#160;31, 2011, Crude had approximately $414.1&#160;million
    in total assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Capital
    Product Partners L.P.</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

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    Piraeus, 18537
</DIV>

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    Greece
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Product Partners L.P. is a limited partnership organized
    under the laws of the Republic of the Marshall Islands, whose
    vessels trade on a worldwide basis and are capable of carrying
    crude oil, refined oil products, such as gasoline, diesel, fuel
    oil and jet fuel, as well as edible oils and certain chemicals
    such as ethanol. As of March&#160;31, 2011, CPLP&#146;s fleet
    consisted of 21 double-hull tankers with an average age of
    approximately 4.7&#160;years, including one of the largest Ice
    Class&#160;1A MR product tanker fleets in the world based on
    number of vessels and carrying capacity, with 83% of the fleet
    total days in the last nine months of 2011 secured under period
    charter coverage. In June 2011, CPLP is expected to begin
    operating one drybulk capesize vessel. Capital Ship Management
    Corp., a subsidiary of Capital Maritime, serves as the manager
    of CPLP&#146;s vessels. CPLP charters 19 of its 22&#160;vessels
    (including the capesize vessel) under medium- to long-term time
    and bareboat charters to large charterers such as BP Shipping
    Limited, Petroleo Brasileiro S.A., Capital Maritime and
    subsidiaries of Overseas Shipholding Group Inc. CPLP&#146;s
    common units trade on Nasdaq under the symbol &#147;CPLP.&#148;
    CPLP unitholders also receive reports on Form&#160;1099, as the
    partnership is treated as a corporation for U.S.&#160;tax
    purposes. As of March&#160;31, 2011, CPLP had approximately
    $752.9&#160;million in total assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Capital
    GP L.L.C.</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Piraeus, 18537
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Greece
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital GP L.L.C. is a limited liability company organized under
    the laws of the Republic of the Marshall Islands. It is the
    general partner of CPLP and a wholly-owned subsidiary of Capital
    Maritime.
</DIV>
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    43
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    <B><FONT style="font-family: 'Times New Roman', Times">Poseidon
    Project Corp.</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Piraeus, 18537
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Greece
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    +30 210 4584 900
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Poseidon Project Corp. is a corporation incorporated under the
    laws of the Republic of the Marshall Islands and is a
    wholly-owned subsidiary of CPLP. This entity was recently formed
    for the sole purpose of effecting the merger.
</DIV>

<A name='Y91492157'>
<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Structure
    of the Proposed Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides for the transactions described
    below. The merger agreement is attached to this document as
    Appendix&#160;A and is incorporated by reference into this proxy
    statement/prospectus. We urge you to read the merger agreement
    carefully and in its entirety, as it is the legal document that
    governs the proposed transaction and your rights and obligations
    in connection with the proposed transaction.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    On May&#160;5, 2011, CPLP and Crude announced that they had
    entered into a merger agreement, pursuant to which MergerCo
    would merge with and into Crude, with the result of Crude
    becoming a wholly-owned subsidiary of CPLP.
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The transaction is structured as a unit for share transaction.
    The exchange ratio is 1.56 CPLP common units for each share of
    Crude common stock and Crude Class&#160;B stock, which equates
    to a value of $17.58 per share of Crude common stock and Crude
    Class&#160;B stock based on CPLP&#146;s closing unit price of
    $11.27 on May&#160;4, 2011. The transaction is subject to
    customary closing conditions, including approval by a majority
    of the voting power of the shares of Crude common stock held by
    the Unaffiliated Shareholders.
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP will become the sole parent of Crude and will continue to
    be structured as a limited partnership.
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    In addition, on May&#160;5, CPLP agreed to acquire from Capital
    Maritime 100% of the shares of capital stock of Patroklos Marine
    Corp. a corporation organized under the laws of the Republic of
    the Marshall Islands, that was the registered owner of the dry
    cargo vessel Cape Agamemnon for a total consideration of
    approximately $98.5&#160;million, to be paid in a combination of
    CPLP common units and cash. CPLP will issue 6,958,000 CPLP
    common units to Capital Maritime based on a $10.35 price per
    unit, as part of the consideration for the acquisition of the
    Cape Agamemnon, and pay approximately $26.5&#160;million in cash.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Capital Maritime will also be making a capital contribution of
    approximately $1.5&#160;million to Capital GP, which will make a
    capital contribution in the same amount to CPLP in exchange for
    142,000 general partnership interests in CPLP, so that Capital
    GP can maintain a 2% general partnership interest in CPLP.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Following completion of the merger and CPLP&#146;s acquisition
    of the Cape Agamemnon, CPLP unitholders will own approximately
    65% of the combined company, with Crude shareholders owning the
    remaining approximate 35% of the combined company (including
    3,284,210 common units to be issued to CCIC). As a result of the
    two transactions, Capital Maritime, the owner of Capital GP,
    will own approximately 27.1% of the combined company, including
    ownership resulting from the general partnership interest in the
    combined company held by Capital GP and, collectively, Capital
    Maritime and CCIC would own approximately 31.7% of the combined
    company. Under the CPLP Partnership Agreement, Capital GP, which
    is owned by Capital Maritime, also has the right to contribute
    CPLP common units in return for general partner units in order
    to maintain a 2% general partner interest in CPLP. If the
    proposed transaction is consummated, shortly thereafter Capital
    GP expects to contribute approximately 499,346 CPLP common units
    in return for general partner units in order to maintain its 2%
    general partner interest.
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s current directors and one current member of the
    Crude Independent Committee, which will be Dimitris
    Christacopoulos, will be the directors of CPLP immediately after
    the effective time of the proposed transaction, and Evangelos M.
    Marinakis will continue to serve as Chairman of the CPLP Board.
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s current headquarters will serve as the headquarters
    of the combined company.
</TD>
</TR>

</TABLE>
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    <BR>
    44
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<A name='Y91492158'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Background
    of the Proposed Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude was formed in October 2009 as a wholly-owned subsidiary of
    CCIC, to conduct a shipping business focused on the crude tanker
    industry. Crude had no meaningful operating history as an
    independent company prior to its initial public offering (the
    &#147;IPO&#148;) in March 2010. Following its IPO, CCIC
    continued to own, and currently owns, 2,105,263&#160;shares of
    Crude Class&#160;B stock, representing 100% of the outstanding
    shares of the Crude Class&#160;B stock. CCIC does not own any
    Crude common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There is substantial overlap of the ownership and control of
    Crude and CPLP. CCIC is controlled by Evangelos M. Marinakis,
    the Chairman and Chief Executive Officer of Crude and the
    Chairman of CPLP Mr.&#160;Marinakis also is the Chief Executive
    Officer of Capital Maritime, which as of June&#160;8, 2011 owns
    approximately 12,079,062 CPLP units (including general partner
    units), or 31.2% of the CPLP units, and is the owner of Capital
    GP. There also is significant overlap between the senior
    management teams of each of Crude and Capital GP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Throughout 2010, Capital GP, as the manager of CPLP,
    communicated to CPLP unitholders its belief that CPLP should be
    looking for opportunities to further grow CPLP and take
    advantage of the historically attractive vessel asset purchase
    price environment in the tanker shipping sector. In that
    context, in early December 2010, Mr.&#160;Evangelos M. Marinakis
    and Ioannis M. Lazaridis discussed a potential combination
    between CPLP and Crude, including the potential for such a
    combination to strengthen the balance sheet, provide a solid
    basis of future fleet growth, provide a basis for future
    distribution growth and enhance financing opportunities for both
    entities. Mr.&#160;Lazaridis and Mr.&#160;Marinakis having
    further discussed the above met again and decided to commence an
    evaluation of a combination of Crude and CPLP. Senior management
    of Capital GP and CPLP also agreed that the merits of such a
    combination should be explored, and, accordingly, concluded that
    a potential combination might be attractive to Crude, CPLP, and
    their respective equityholders. In addition, Mr.&#160;Marinakis
    indicated that CCIC, as the sole holder of Crude Class&#160;B
    stock, could be receptive to such a transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, Mr.&#160;Lazaridis contacted a representative
    of Evercore Group L.L.C. (&#147;Evercore&#148;) indicating that
    Capital GP senior management was going to discuss a proposed
    transaction involving Crude with the CPLP Board, and that the
    matter would likely be submitted to the CPLP Conflicts Committee
    for its consideration. The CPLP Conflicts Committee had
    previously engaged Evercore as its financial advisor on three
    separate occasions in 2010. Mr.&#160;Lazaridis met with
    representatives of Evercore on December&#160;7, 2010,
    December&#160;30, 2010 and January&#160;12, 2011 to further
    discuss the possibility of CPLP and Crude pursuing a proposed
    transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;19, 2011, the CPLP Conflicts Committee, after
    reviewing and considering the knowledge and experience of Akin
    Gump Strauss Hauer&#160;&#038; Feld LLP (&#147;Akin Gump&#148;)
    with public company mergers and acquisitions, the energy
    industry generally, and Akin Gump&#146;s experience in advising
    master limited partnerships (&#147;MLPs&#148;) and other
    companies with respect to transactions similar to the proposed
    transaction, as well as its past representations of the CPLP
    Conflicts Committee, determined to engage Akin Gump as its legal
    counsel in anticipation of a delegation by the CPLP Board to the
    CPLP Conflicts Committee of certain responsibilities and
    authority with respect to a proposed transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;20, 2011, Mr.&#160;Lazaridis, Mr.&#160;Marinakis
    and other members of Capital GP&#146;s management met with the
    CPLP Board. During that meeting, members of management discussed
    with the CPLP Board the outlook for CPLP&#146;s future growth
    and distributions based on various assumptions regarding, among
    other things, the tanker shipping market, the tanker financing
    market and the general state of the overall economy. It was
    further suggested that the CPLP Board consider a transaction
    with Crude, as a combination of CPLP and Crude could provide
    CPLP with a stronger balance sheet, improve its position in the
    tanker shipping market and improve future distribution growth
    prospects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;20, 2011, the CPLP Board (including the members
    of the CPLP Conflicts Committee) along with representatives of
    the law firms Sullivan&#160;&#038; Cromwell LLP
    (&#147;Sullivan&#160;&#038; Cromwell&#148;), as counsel to
    Capital Maritime, and Akin Gump, participated in a presentation
    in which representatives of Evercore gave
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    their preliminary financial analysis of a combination of CPLP
    and Crude. During the presentation, members of the CPLP
    Conflicts Committee provided Evercore with feedback to refine
    its preliminary financial analysis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;20, 2011, as a result of the ongoing
    consideration of such strategic factors, the CPLP Board, on the
    recommendation of the CPLP Conflicts Committee, determined to
    further analyze and pursue a potential business combination
    transaction with Crude. The CPLP Board also determined that the
    CPLP Conflicts Committee should analyze and, if determined
    appropriate, pursue and negotiate, on behalf of the CPLP Board,
    such a potential transaction. The members of the CPLP Conflicts
    Committee are Keith Forman, Robert Curt and Abel Rasterhoff,
    each of whom is an independent director of CPLP and has no
    affiliations with Crude, CCIC or any of their affiliates.
    Mr.&#160;Forman served as chairman of the CPLP Conflicts
    Committee and continues to serve in that role.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Board authorized the CPLP Conflicts Committee to, among
    other things, (i)&#160;explore, consider and, if appropriate,
    develop a proposal on behalf of CPLP with respect to a proposed
    transaction, (ii)&#160;negotiate the terms and conditions of a
    transaction and agreements related to a transaction, subject in
    each case to final approval of the CPLP Board, and (iii)&#160;in
    order to address any potential conflicts of interest between
    CPLP, on the one hand, and Capital GP, Capital Maritime and each
    of their affiliates, on the other hand, determine whether to
    approve such a transaction by following the CPLP special
    approval process, which in accordance with CPLP&#146;s
    Partnership Agreement requires approval of a majority of the
    members of the CPLP Conflicts Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;20, 2011, the CPLP Conflicts Committee engaged
    Evercore to act as the CPLP Conflicts Committee&#146;s financial
    advisor with respect to a proposed transaction. Evercore was
    chosen primarily because of its knowledge and experience with
    public company mergers and acquisitions, the shipping and energy
    industries generally, transactions involving MLPs and its work
    with special committees, including the CPLP Conflicts Committee,
    in past transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with the consideration of the proposed
    transaction, on January&#160;20, 2011, the CPLP Board approved
    the payment of a one-time fee for each member of the CPLP
    Conflicts Committee (other than the chairman) of $25,000, with
    the chairman of the CPLP Conflicts Committee to be paid a
    one-time fee of $40,000, in cash.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;24, 2011, the CPLP Conflicts Committee held a
    meeting with representatives of Akin Gump and Evercore to
    discuss various matters, including (i)&#160;the duties of, and
    the process to be followed by, the CPLP Conflicts Committee in
    connection with delivering a proposal, and considering a
    potential counter proposal, with respect to a proposed
    transaction, (ii)&#160;potential conflicts of interest,
    independence considerations and the special approval process
    under CPLP&#146;s partnership agreement, (iii)&#160;fiduciary
    duties of the members of the CPLP Conflicts Committee,
    (iv)&#160;equityholder approval requirements, and
    (v)&#160;general process, securities law and other
    considerations to be taken into account in public transactions
    similar to the proposed transaction. Evercore also discussed
    with members of the CPLP Conflicts Committee its
    January&#160;20, 2011 presentation, including the pro forma
    impact of a proposed transaction on accretion and dilution on
    distributions to the equityholders of CPLP and Crude, taking
    into account various financing, chartering rate, and asset
    valuation scenarios, in each case based on information provided
    by the management of CPLP. Evercore also discussed with the CPLP
    Conflicts Committee the possibility of providing additional
    financial analysis, including extending the analysis through
    2013, based on additional forecasts and projections to be
    provided by the respective managements of CPLP and, potentially,
    Crude, utilizing various alternative scenarios.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;31, 2011, the CPLP Conflicts Committee met with
    representatives of Akin Gump and Evercore. Evercore provided an
    update concerning its progress with respect to its financial
    analysis of a proposed transaction with Crude, taking into
    account various financing, chartering rate, and asset valuation
    scenarios. The CPLP Conflicts Committee also discussed, among
    other things, the appropriate exchange ratio for a proposal to
    Crude, the exchange ratio&#146;s impact on accretion and
    dilution distributions to the stakeholders of CPLP and Crude,
    negotiating strategy, the desirability of confidentiality and
    whether exclusivity should be required for some period of time
    (or whether exclusivity was unnecessary under the
    circumstances). The CPLP Conflicts Committee also discussed
    possible alternatives to a proposed transaction with Crude. The
    CPLP Conflicts Committee determined that it would make a
    non-binding proposal to acquire Crude in a merger
</DIV>
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    transaction pursuant to which each shareholder of Crude would
    receive 1.72 CPLP common units for each share of Crude common
    stock and Crude Class&#160;B stock held by such shareholder. The
    committee also determined to propose that Crude sign a mutual
    confidentiality agreement without an exclusivity period. The
    CPLP Conflicts Committee decided that the chairman of the CPLP
    Conflicts Committee should contact the Crude Independent
    Committee, a standing committee of the Crude Board, to deliver a
    non-binding indication of interest to such effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;2, 2011, Mr.&#160;Forman sent via
    <FONT style="white-space: nowrap">e-mail</FONT> a
    letter to the Crude Independent Committee. At that time, Richard
    Sages, Pierre de Demandolx Dedons, Gregory Timagenis and
    Socrates Kominakis comprised the Crude Independent Committee.
    Mr.&#160;Forman&#146;s
    <FONT style="white-space: nowrap">e-mail</FONT>
    indicated CPLP&#146;s interest in pursuing a proposed
    transaction, and included a draft confidentiality agreement.
    Mr.&#160;Forman also left a voicemail for the Crude Independent
    Committee&#146;s chairman, Mr.&#160;Socrates Kominakis,
    conveying a desire to meet in person in the near future to
    discuss the Crude Independent Committee&#146;s reaction to the
    proposal. Mr.&#160;Forman&#146;s letter included, among other
    things, (i)&#160;a non-binding indication of CPLP&#146;s
    interest in CPLP&#146;s acquiring Crude in a merger transaction
    in which each outstanding share of Crude common stock and Crude
    Class&#160;B stock would be exchanged for 1.72 CPLP common units
    (the &#147;Initial Proposal&#148;) and (ii)&#160;a request for
    the support of CCIC and its affiliates, as well as members of
    Crude management (in their capacity as shareholders of Crude),
    for such a potential transaction. Further discussion of a
    proposed transaction was conditioned upon execution by the
    parties of a mutual confidentiality agreement, which would
    include mutual customary &#147;standstill&#148; and
    non-solicitation provisions. Based on CPLP&#146;s common unit
    price on February&#160;1, 2011, the Initial Proposal had a value
    of approximately $17.50 per share. The 1.72x exchange ratio was
    based on (i)&#160;CPLP&#146;s calculation of Crude&#146;s net
    asset value per share using a third party appraisal of the
    vessels comprising Crude&#146;s fleet as of December&#160;31,
    2010, discounted by approximately 5% to take into account the
    general trend of declining asset values, (ii)&#160;CPLP&#146;s
    view that such offer would potentially enhance CPLP&#146;s
    ability to maintain and potentially grow its distribution
    forecast of $0.2325 per quarter in 2013, (iii)&#160;a
    premiums-paid analysis suggesting a 12.4% premium to
    Crude&#146;s share price of approximately $15.57 as of
    January&#160;31, 2011 and (iv)&#160;the fact that Crude
    shareholders would experience significant and immediate
    accretion with respect to distributions upon consummation of the
    merger. The Crude Independent Committee promptly informed the
    Crude Board of the proposal received from the CPLP Conflicts
    Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;3, 2011, the Crude Board met to discuss several
    matters, including the receipt by the Crude Independent
    Committee of the Initial Proposal. The Crude Board determined
    that the Crude Independent Committee should evaluate and, if
    appropriate, negotiate the terms of any transaction with CPLP on
    behalf of the Crude Board. To that end, the Crude Board
    authorized the Crude Independent Committee to engage independent
    legal and financial advisors to assist in its evaluation and
    potential negotiations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee retained Jones Day as its
    independent legal advisor on February&#160;10, 2011, after
    confirming that the firm had not represented Crude, CPLP, CCIC
    or their respective affiliates and was otherwise free of any
    conflicting relationships.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;15, 2011, the Crude Independent Committee met
    with Jones Day to discuss next steps, including the process for
    selecting the committee&#146;s financial advisor. The committee
    discussed potential financial advisor candidates, including
    Jefferies and two other internationally-recognized investment
    banking firms, none of which had previously provided financial
    advisory services to Crude, CPLP, CCIC or any of their
    respective affiliates. Jones Day also explained to the committee
    that the Crude Board had adopted authorizing resolutions for the
    Crude Independent Committee, but that those resolutions did not
    expressly provide the Crude Independent Committee the authority
    to pursue alternative transactions. The committee decided that
    it was still early in the process, and that the possibility of
    confirming whether such authority had been provided should be
    reconsidered after the Crude Independent Committee had selected
    a financial advisor and had had the opportunity to review the
    proposed transaction with its financial advisor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the next few days, members of the Crude Independent
    Committee and Jones Day contacted representatives of Jefferies
    and the two other investment banking firms to schedule meetings
    with the Crude Independent Committee to be held during the week
    of February&#160;20th.
</DIV>
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    On February&#160;17, 2011, Mr.&#160;Kominakis informed the other
    members of the Crude Independent Committee that he would be
    unable to continue participating in the committee&#146;s
    deliberations regarding any potential transaction with CPLP. He
    explained that he was advising a private equity firm
    unaffiliated with Crude or CPLP in connection with an unrelated
    matter that he expected would require substantially all of his
    time for the foreseeable future. Accordingly, Mr.&#160;Kominakis
    delivered a letter dated February&#160;17, 2011 to the Crude
    Independent Committee resigning from his position as chairman of
    the Crude Independent Committee and, due to his time
    commitments, withdrawing from all deliberations of the Crude
    Independent Committee regarding any proposed transaction between
    Crude and CPLP. The following day, on February&#160;18, 2011,
    the other members of the Crude Independent Committee elected
    Mr.&#160;Gregory Timagenis as the new chairman of the Crude
    Independent Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;18, 2011, the Crude Independent Committee sent
    a preliminary response to the CPLP Conflicts Committee, stating,
    among other things, that (i)&#160;the Crude Board had authorized
    the Crude Independent Committee to consider the proposed
    transaction and to engage legal, financial and other advisors in
    connection therewith, (ii)&#160;Jones Day would serve as the
    legal advisor to the Crude Independent Committee and
    (iii)&#160;the Crude Independent Committee was in the process of
    selecting a financial advisor from a list of highly qualified
    firms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the week of February&#160;20, 2011, the Crude Independent
    Committee met with representatives of Jefferies and the two
    other financial advisor candidates to discuss their
    qualifications for advising the Crude Independent Committee.
    Over the next several days, Jones Day and Mr.&#160;Timagenis
    corresponded with each of the three investment banks, seeking
    clarification on and negotiating their fee proposals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;28, 2011, the Crude Independent Committee met
    for the purpose of finalizing its selection of a financial
    advisor. Even though it was the consensus of the Crude
    Independent Committee that, because of, among other things,
    Jefferies&#146; M&#038;A experience, and financial advisory
    experience in the shipping industry, Jefferies should be
    selected as the Crude Independent Committee&#146;s financial
    advisor, a change in the composition of the Crude Independent
    Committee delayed the retention of Jefferies. On March&#160;3,
    2011, Mr.&#160;Timagenis informed the committee that he could no
    longer serve on the committee. He explained that his ongoing
    responsibilities to his law firm made it impracticable to take a
    meaningful role in the Crude Independent Committee&#146;s
    evaluation of the proposed transaction with CPLP.
    Mr.&#160;Timagenis remained on the Crude Board following his
    resignation from the committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As a result of Mr.&#160;Kominakis&#146;s recusal and
    Mr.&#160;Timagenis&#146;s resignation, only two members of the
    Crude Independent Committee remained to participate in
    deliberations regarding the Initial Proposal. Accordingly,
    during the following week, the members of the Crude Independent
    Committee and the Crude Board agreed that the Crude Board should
    appoint a new independent director to the Crude Board with the
    expectation that such new independent director would serve on
    the Crude Independent Committee. On March&#160;11, 2011, the
    Crude Board met to elect Mr.&#160;Dimitris Christacopoulos to
    the Crude Board and, subsequent to his election, he was
    appointed by the Crude Board to the Crude Independent Committee.
    Prior to Mr.&#160;Christacopoulos&#146;s election, the Crude
    Board had made the determination that Mr.&#160;Christacopoulos
    was independent and had no prior relationships with Crude, CPLP,
    CCIC or any of their respective affiliates, and had discussed
    Mr.&#160;Christacopoulos&#146;s qualifications, including his
    background in the shipping and financing sectors and work in
    business consulting. The members of the Crude Independent
    Committee held a meeting shortly after the Crude Board meeting
    and elected Mr.&#160;Christacopoulos to be the chairman of the
    Crude Independent Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    After Mr.&#160;Christacopoulos had the opportunity to review the
    background material provided by Jones Day and after he had
    spoken to each of the three financial advisor candidates to
    understand their qualifications, the Crude Independent Committee
    met on March&#160;18, 2011. After discussion of the relative
    merits of the three firms, the committee re-confirmed its
    selection of Jefferies as its financial advisor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    From March&#160;18th&#160;through the end of April, the Crude
    Independent Committee&#146;s legal and financial advisors
    conducted their due diligence review of CPLP, its subsidiaries
    and their respective businesses and the CPLP Conflicts
    Committee&#146;s legal and financial advisors conducted their
    due diligence review of Crude, its subsidiaries and their
    respective businesses. The Crude Independent Committee&#146;s
    legal and financial advisors
</DIV>
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    and the CPLP Conflicts Committee&#146;s legal and financial
    advisors exchanged, and provided responses to, due diligence
    request lists and participated in multiple due diligence calls
    with management of each of CPLP and Crude. On April&#160;5,
    2011, Crude and CPLP executed a confidentiality agreement,
    which, in addition to customary bilateral confidentiality
    provisions, imposed a two-year standstill on each of Crude and
    CPLP. Following the execution of the confidentiality agreement,
    CPLP and Crude began to exchange non-public information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;13, 2011, the two chairmen of the companies&#146;
    two independent committees, Dimitris Christacopoulos and Keith
    Forman, met in Athens. Although the two spoke about general
    process points and macroeconomic factors related to a potential
    business combination relating to the proposed transaction, no
    specific transaction terms were discussed at this meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;18, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to receive an update
    from Evercore about its discussions with Jefferies and to
    discuss and identify differences in the assumptions underlying
    their respective financial analyses of CPLP and Crude.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;19, 2011, the Crude Independent Committee met with
    representatives of Jefferies and Jones Day to receive an update
    on the status of the advisors&#146; due diligence and to review
    Jefferies&#146; preliminary financial analyses based on
    projections provided by Crude management. An analyst report from
    Wells Fargo was also released the same day, which report
    downgraded Crude&#146;s shares based on the analyst&#146;s
    conclusions that Crude would not be able to maintain its current
    dividend payments once the amortization payments under
    Crude&#146;s credit facility became due beginning in the third
    quarter of 2011. Crude&#146;s share price decreased from $14.20
    at closing on April&#160;18, 2011 to a closing price of $12.05
    on April&#160;19, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;21, 2011, during a regularly scheduled meeting,
    the CPLP Board received an update from the CPLP Conflicts
    Committee regarding the status of its and its advisors&#146;
    discussions with the Crude Independent Committee and its
    advisors. Mr.&#160;Forman summarized for the CPLP Board the
    status of the discussions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;21, 2011, members of the CPLP Conflicts Committee
    and the Crude Independent Committee and representatives of
    Evercore, Jefferies, Akin Gump and Jones Day met to receive
    additional guidance from management of CPLP and Crude with
    respect to their respective managements&#146; financial
    projections and to discuss the effect of such additional
    guidance on the financial advisors&#146; respective financial
    analyses. Following the discussion, the CPLP Conflicts Committee
    met with representatives of Evercore and Akin Gump to discuss
    the additional guidance that management had given and to discuss
    the status of Evercore&#146;s analysis of management&#146;s
    financial projections with respect to CPLP. Evercore also
    reviewed with the CPLP Conflicts Committee its updated
    preliminary financial analysis. Among other things, the CPLP
    Conflicts Committee discussed the recent increase in CPLP&#146;s
    unit price as compared to the decrease in Crude&#146;s stock
    price, and the Initial Proposal&#146;s 1.72x exchange ratio in
    light of prevailing market conditions. It also discussed the
    deterioration in the asset values of crude tanker vessels
    similar to those that Crude owns, which, in turn, had lowered
    Crude&#146;s per share net asset value. The CPLP Conflicts
    Committee determined that a revised indication of interest
    letter should be prepared proposing an exchange ratio of 1.36
    CPLP common units for each Crude share. The CPLP Conflicts
    Committee also determined that its chairman should contact the
    chairman of the Crude Independent Committee to indicate that the
    CPLP Conflicts Committee was still interested in pursuing a
    proposed transaction, but would likely propose a lower exchange
    ratio under which the proposed transaction would be consummated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;23, 2011, Mr.&#160;Forman called
    Mr.&#160;Christacopoulos and left him a voicemail, indicating
    that the CPLP Conflicts Committee would likely be sending a new
    letter with a lower proposed exchange ratio. Later that evening
    (New York time), the Crude Independent Committee received a
    revised proposal from the CPLP Conflicts Committee reflecting a
    lower exchange ratio of 1.36 CPLP common units for each share of
    Crude common stock and Class&#160;B stock (the &#147;Revised
    Proposal&#148;). Based on CPLP&#146;s common unit price on
    April&#160;21, 2011, the Revised Proposal had a value of
    approximately $15.00 per share. The 1.36x exchange ratio in the
    Revised Proposal was based on (i)&#160;CPLP&#146;s calculation
    of Crude&#146;s net asset value per share using a more recent
    third party appraisal of the vessels comprising Crude&#146;s
    fleet as of March&#160;31, 2011, discounted by a range of
    approximately 5% to 10% due to the general trend of declining
    asset values, (ii) CPLP&#146;s view that the lower offer would
    further enhance CPLP&#146;s ability to maintain and potentially
    grow its distribution forecast of
</DIV>
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    $0.2325 per quarter in 2013, (iii)&#160;a premiums-paid analysis
    suggesting a 20% premium to Crude&#146;s share price of
    approximately $12.50 following the release of the Wells Fargo
    report and (iv)&#160;the fact that Crude shareholders would
    experience significant and immediate accretion with respect to
    distributions upon consummation of the merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee met on April&#160;25, 2011 with
    its financial and legal advisors to discuss the Revised Proposal
    and the CPLP Conflicts Committee&#146;s request that both
    committees and their advisors meet in Athens within the week to
    discuss the potential transaction. After discussing with its
    financial and legal advisors, the Crude Independent Committee
    determined that such a meeting would not be productive until
    after the Crude Independent Committee had first discussed with
    Jefferies its analysis of the Revised Proposal, which discussion
    took place later that day.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Between April 25 and April&#160;28, 2011, at the request of the
    CPLP Conflicts Committee and the Crude Independent Committee,
    representatives of Evercore and Jefferies met to discuss the
    proposed exchange ratios and the financial assumptions
    underlying the Initial and Revised Proposals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Representatives of Jefferies and Evercore met briefly on
    April&#160;26, 2011 to discuss the proposed transaction, as well
    as some of the alternatives being considered by CPLP to manage
    some of its future cash requirements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;27, 2011, the Crude Independent Committee met
    again with representatives of Jefferies and Jones Day to discuss
    the Revised Proposal. Representatives of Jefferies advised the
    Crude Independent Committee that representatives of Jefferies
    and Evercore had had a discussion on April&#160;26, 2011
    regarding the proposals, but that no terms were negotiated.
    Representatives of Jefferies discussed with the Crude
    Independent Committee its financial analysis of the Revised
    Proposal. The Crude Independent Committee asked various
    questions regarding Jefferies&#146; financial analysis,
    including with respect to certain assumptions underlying its
    analysis. The Crude Independent Committee also discussed, with
    the input of its financial and legal advisors, what potential
    alternatives Crude could consider on a standalone basis,
    including refinancing Crude&#146;s credit facility and
    undertaking a potential bond offering. However, the Crude
    Independent Committee determined that given the deteriorated
    state of the tanker industry and limited access to capital
    markets, such alternatives were not sufficiently attractive to
    warrant a detailed analysis from Jefferies.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    After discussion among the Crude Independent Committee members
    with input from representatives of Jefferies, it was the
    consensus of the Crude Independent Committee that the 1.36x
    exchange ratio proposed by the CPLP Conflicts Committee in the
    Revised Proposal should not be accepted. And after further
    discussion with its advisors, it was the consensus of the Crude
    Independent Committee that a 1.75x exchange ratio (with an
    implied offer price of approximately $19.00 per share, based on
    CPLP&#146;s common unit price at the time), was an appropriate
    counter proposal to the CPLP Conflicts Committee. The Crude
    Independent Committee reached this consensus based on various
    considerations, including: (i)&#160;the need for the premium to
    be measured against net asset value per share because the merger
    consideration would consist solely of CPLP common units and for
    net asset value per share to be calculated using the average of
    both of Crude&#146;s third party appraisals, rather than only
    the lower appraisal prepared as of March&#160;31, 2011,
    (ii)&#160;the 1.75x exchange ratio represented an 11% premium to
    net asset value per share (based on CPLP&#146;s common unit
    price at the time), (iii)&#160;the proposed merger of the two
    companies would increase the combined company&#146;s scale,
    market capitalization and cash flow, and decrease the combined
    company&#146;s
    <FONT style="white-space: nowrap">loan-to-value</FONT>
    ratio, thereby permitting the combined company greater access to
    the capital markets and enhancing its ability to refinance
    existing indebtedness, which would better enable CPLP to
    maintain its distribution forecast of $0.2325 per quarter
    through 2013, (iv)&#160;a desire to achieve value in the range
    of the IPO price for the Crude shares and (v)&#160;the
    combination would be a deleveraging transaction for CPLP that
    would be significantly accretive to the net asset value per unit
    for CPLP&#146;s common unitholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee also discussed the scope of its
    authority at the meeting and whether it was authorized to
    solicit or consider business combination or other proposals from
    third parties other than CPLP. After discussing this issue with
    Jones Day, the Crude Independent Committee determined to contact
    the Crude Board in order to confirm whether the committee had
    sufficient authority from the Crude Board in order to explore
    <FONT style="white-space: nowrap">and/or</FONT>
    pursue alternatives to the proposed CPLP transaction. The
    committee requested that
</DIV>
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    Jones Day prepare a letter for Mr.&#160;Christacopoulos to
    deliver to the Crude Board on behalf of the Crude Independent
    Committee requesting confirmation of such authority. The Crude
    Independent Committee also briefly discussed certain other items
    that would need to be addressed in connection with the proposed
    transaction, including whether any changes to CPLP&#146;s
    limited partnership agreement should be requested to harmonize
    the rights of unitholders of the combined entity to that of the
    shareholders of Crude. For example, the committee discussed the
    number of directors that Crude would be able to designate on the
    CPLP Board, as well as increasing the ownership threshold
    necessary for the general partner to have right to call CPLP
    common units from 80% to 90% of the outstanding CPLP common
    units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At the request of the Crude Independent Committee,
    representatives of Jefferies communicated the Crude Independent
    Committee&#146;s counter proposal of a 1.75x exchange ratio, or
    an implied price of approximately $19.00 per share, to Evercore
    on April&#160;27, 2011. Evercore explained the premise of the
    1.36x exchange ratio in the Revised Proposal as described above
    and also argued that a 1.36x exchange ratio (i)&#160;still
    represented a 20% premium to Crude&#146;s share price and
    (ii)&#160;would be immediately and significantly accretive to
    Crude&#146;s shareholders&#146; distributions. Evercore also
    stated that it believed a 1.75x exchange ratio would make it
    difficult for CPLP to maintain and potentially grow its
    distribution forecast of $0.2325 per quarter in 2013, due to the
    increased number of outstanding common units and the potential
    debt amortization payments if CPLP had not refinanced its debt
    by then. After discussion of both parties&#146; positions,
    representatives of Evercore stated that they would need to
    present the Crude Independent Committee&#146;s counter proposal
    to the CPLP Conflicts Committee and discuss an appropriate
    response.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;27, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to discuss, among
    other things, (i)&#160;an analysis of the Revised Proposal and
    recent Crude Independent Committee counter proposal and the
    implications of these proposals at various prices, including
    potential accretion and dilution on distributions, and
    (ii)&#160;the terms of the proposed merger agreement being
    prepared by Akin Gump, including various deal protection issues
    such as, among other things, the circumstances under which the
    Crude Board or Crude Independent Committee could change their
    recommendations as to the merger, the termination fee, the
    termination date and the scope of CCIC&#146;s and Crude
    management&#146;s obligation to vote their shares of Crude stock
    in favor of the approval of the merger and against alternative
    transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;28, 2011, the Crude Independent Committee met
    again with its advisors, and representatives of Jefferies
    relayed to the Crude Independent Committee their discussion with
    Evercore regarding the Crude Independent Committee&#146;s
    counter proposal of a 1.75x exchange ratio. The members of the
    committee discussed the possibility of engaging the chairmen of
    both committees in negotiations by having a call among
    Mr.&#160;Christacopoulos, Mr.&#160;Forman and the
    committees&#146; financial advisors. However, the Crude
    Independent Committee determined that it first wished to hear
    the CPLP Conflicts Committee&#146;s response to the proposed
    1.75x exchange ratio, as well as the Crude Board&#146;s response
    to Mr.&#160;Christacopoulos&#146;s letter requesting
    confirmation of additional authority for the Crude Independent
    Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;28, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to discuss potential
    exchange ratios and the financial assumptions underlying the
    proposals. Evercore updated the CPLP Conflicts Committee with
    respect to its discussions with Jefferies regarding the proposed
    exchange ratios and their underlying financial assumptions. The
    CPLP Conflicts Committee discussed increasing the proposed
    exchange ratio and determined to propose an exchange ratio of
    1.48 CPLP common units for each share of Crude common stock and
    Crude Class&#160;B stock. After further discussion, the CPLP
    Conflicts Committee requested that Evercore organize a call with
    Jefferies and the Crude Independent Committee to discuss the
    proposed exchange ratio.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later in the day on April&#160;28, 2011, Evercore contacted
    representatives of Jefferies to convey the CPLP Conflicts
    Committee&#146;s response to the 1.75x exchange ratio proposed
    by the Crude Independent Committee. The CPLP Conflicts Committee
    proposed a 1.48x exchange ratio, or approximately $16.55 per
    share based on the closing price of $11.18 for CPLP common units
    on April&#160;27, 2011. Evercore also delivered written
    materials with the following arguments in support of the 1.48x
    exchange ratio: (i)&#160;the implied cash purchase price
    represented a 30.8% premium above current Crude share prices,
    (ii)&#160;based on CPLP&#146;s current distribution forecast,
    Crude&#146;s shareholders would receive a 10.9% dividend yield
    from the combined company going
</DIV>
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    forward, almost all of which would be attributable to
    CPLP&#146;s operating cash flows in 2012 and 2013,
    (iii)&#160;the implied aggregate purchase price was equal to
    Crude&#146;s net asset value, taking into consideration a
    declining asset value environment, Crude&#146;s first quarter
    dividend and its drydock reserves and (iv)&#160;the implied cash
    purchase price of $16.55, plus the $1.25 in dividends the
    shareholders have received since Crude&#146;s IPO (and would
    receive during the first quarter of 2011)&#160;and the
    additional $1.38 in aggregate distributions anticipated from the
    combined company during the next 12&#160;months would provide
    Crude shareholders who purchased at the time of the IPO an
    aggregate of more than the IPO price of $19.00 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At the same time that the two financial advisor teams were
    meeting, a representative from Sullivan&#160;&#038; Cromwell
    contacted Jones Day to discuss the Crude Independent
    Committee&#146;s letter to the Crude Board requesting additional
    authority. In a subsequent call, the representative from
    Sullivan&#160;&#038; Cromwell informed Jones Day that a meeting
    of the Crude Board would be held the next day and any
    uncertainty regarding the scope of authority of the Crude
    Independent Committee could be addressed at the meeting. During
    that discussion, the representative from Sullivan&#160;&#038;
    Cromwell also expressed to Jones Day that Crude&#146;s largest
    shareholder, CCIC, which as a result of its holdings of Crude
    Class&#160;B stock controls approximately 49% of the shareholder
    vote in connection with any such transaction that required Crude
    shareholder approval, had informed Sullivan&#160;&#038; Cromwell
    that it would expect to vote against any reasonably foreseeable
    similar transaction with a party other than CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;29, 2011, the Crude Board held a meeting to
    receive an update from the Crude Independent Committee regarding
    the status of its and its advisors&#146; discussions with the
    CPLP Conflicts Committee and its advisors.
    Mr.&#160;Christacopoulos summarized for the Crude Board the
    status of the discussions. The Crude Board also discussed the
    letter delivered to the Crude Board on
    April&#160;28th&#160;regarding the Crude Independent
    Committee&#146;s authority and the Crude Board confirmed that,
    under the Crude Board resolutions of February&#160;3rd, the
    Crude Independent Committee was already authorized to consider
    alternative transactions. In addition, the position of CCIC as a
    shareholder of Crude also was reiterated to the Crude Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee also met on
    April&#160;29th&#160;to discuss the events that had occurred
    since their meeting on April&#160;28th, including the full Crude
    Board meeting. Based on the discussions with the Crude Board,
    including the reality that any transaction with a party other
    than CPLP would be voted down by CCIC, the Crude Independent
    Committee determined not to explore alternative transactions or
    other strategic alternatives to the proposed transaction with
    CPLP at that time. The Crude Independent Committee also
    discussed the latest exchange ratio proposal from the CPLP
    Conflicts Committee of 1.48x, including the reasonableness of
    the rationale and assumptions on which the exchange ratio was
    based, as presented by Evercore to representatives of Jefferies
    in their meeting the day before. After a discussion about the
    best strategy for maximizing the value received by Crude&#146;s
    unaffiliated shareholders, it was the consensus of the Crude
    Independent Committee to respond with a 1.65x exchange ratio.
    This exchange ratio was based on substantially the same
    arguments that supported a 1.75x exchange ratio, and still
    provided a significant premium to the net asset value per share
    that was greater&#160;&#151; in terms of dollar price based on
    CPLP&#146;s common unit price that day&#160;&#151; than the
    implied dollar price proposed in the Initial Proposal and would,
    together with paid and expected dividends/distributions (both
    before and after the proposed transaction), exceed the $19.00
    Crude IPO price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;30, 2011, the CPLP Conflicts Committee received a
    counter proposal from the Crude Independent Committee of an
    exchange ratio of 1.65x.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;1, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to discuss the results
    of Evercore&#146;s price discussions and the recently received
    counter proposal. Representatives of Evercore indicated that the
    Crude Independent Committee appeared to be seeking a premium to
    net asset value and might accept an exchange ratio in the 1.52x
    to 1.55x range, but appeared to be seeking an exchange ratio
    closer to 1.55x. A discussion followed regarding negotiating
    strategy, potential accretion and dilution to distributions at
    various prices and, in particular, accretion/dilution as the
    exchange ratio increased to 1.55x. The CPLP Conflicts Committee
    noted that it was reluctant to increase its proposed exchange
    ratio by much over its previous proposal. Following these
    discussions, the CPLP Conflicts Committee authorized the
    chairman of the CPLP Conflicts Committee to contact the chairman
    of the Crude Independent Committee to
</DIV>
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    initially propose an exchange ratio of 1.525x, but with
    authority to increase the offer to up to 1.55x. In addition, the
    CPLP Conflicts Committee determined to seek a waiver of the
    termination payment that would be due to Capital Ship Management
    under the Crude management agreement in the event of a change of
    control of Crude, if and to the extent the proposed transaction
    would be considered a change of control under the management
    agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Mr.&#160;Forman called Mr.&#160;Christacopoulos immediately
    after the end of the CPLP Conflicts Committee meeting to propose
    a new exchange ratio of 1.525x. Mr.&#160;Christacopoulos again
    raised the issue of Crude&#146;s shareholders receiving at
    least&#160;&#151; in dollar amounts&#160;&#151; $17.50 per share
    so that they would receive at least the net asset value of Crude
    per share and the need to build in a cushion in the exchange
    ratio to protect Crude shareholders from fluctuations in
    CPLP&#146;s unit price. After a series of further exchanges, the
    two chairman agreed to discuss with the their respective
    committees an exchange ratio of 1.56x, or an implied offer price
    of $17.64 per share, based on CPLP&#146;s then current common
    unit price, subject to satisfactory negotiation of the
    transaction documents and the non-economic deal terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later on May&#160;1, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to discuss the results
    of the negotiations between the chairmen of the two committees.
    Mr.&#160;Forman indicated that Mr.&#160;Christacopoulos, on
    behalf of his committee, was asking for an exchange ratio of not
    less than 1.56x. The CPLP Conflicts Committee then determined to
    make another counter proposal of an exchange ratio of 1.55x,
    with a value of approximately $17.53 (based on CPLP&#146;s then
    current common unit price), that would be adjusted upward to
    1.56x if CPLP&#146;s unit price decreased below an amount that
    would yield an implied price at the time of the public
    announcement of the transaction of less than $17.50 per share at
    a 1.55x exchange ratio. Mr.&#160;Forman delivered via
    <FONT style="white-space: nowrap">e-mail</FONT> the
    CPLP Conflicts Committee&#146;s proposal to
    Mr.&#160;Christacopoulos after the meeting, indicating that the
    CPLP Conflicts Committee did not propose to make any further
    adjustments in its offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee met on May&#160;2, 2011, after
    Mr.&#160;Christacopoulos&#146;s receipt of the CPLP Conflicts
    Committee&#146;s revised proposal, to discuss an appropriate
    response. The Crude Independent Committee considered several
    possibilities, including the rejection of any transaction with
    CPLP, which the Crude Independent Committee ultimately
    determined not to be the best alternative, given the issues with
    Crude&#146;s credit facility and the amortization payments due
    to begin in late 2011, as well as the attractiveness of the
    1.55x exchange ratio, which at then current CPLP unit prices
    would give Crude&#146;s shareholders approximately $17.52 per
    share (based on the closing price of the CPLP common units on
    April&#160;29, 2011), a 35% premium to the then current market
    value of Crude&#146;s share price, a 2.5% premium to
    Crude&#146;s net asset value per share, and an immediate annual
    dividend of $1.44 per share. After further discussion and
    consultation with its advisors, the Crude Independent Committee
    determined to accept the economic terms proposed by the CPLP
    Conflicts Committee, conditioned on the acceptance by the CPLP
    Conflicts Committee of certain non-financial terms of the
    transaction to be included in the merger agreement as described
    below. However, even though the CPLP Conflicts Committee&#146;s
    most recent proposal would have adjusted the exchange ratio up
    to 1.56x as described above, certain members of the Crude
    Independent Committee expressed a preference for a fixed
    exchange ratio of 1.56x and directed Mr.&#160;Christacopoulos to
    try to obtain the higher exchange ratio on a fixed basis. Akin
    Gump delivered a draft of the merger agreement to Jones Day on
    the morning of May&#160;2, 2011, during the Crude Independent
    Committee meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later that day, after reviewing the draft merger agreement,
    representatives of Jones Day discussed with representatives of
    Akin Gump certain issues raised in the draft merger agreement,
    as well as the non-financial terms on which the Crude
    Independent Committee&#146;s acceptance of the economic terms of
    the CPLP Conflicts Committee&#146;s last proposal would be
    accepted. The matters discussed included the requirement that
    the holders of a majority of Crude&#146;s common stock held by
    Unaffiliated Shareholders approve the transaction, that certain
    provisions in CPLP&#146;s Partnership Agreement be amended to
    harmonize the rights that the combined company&#146;s
    unitholders would have after the merger with the current rights
    of Crude shareholders, to increase the size of the CPLP Board to
    accommodate directors to be designated by Crude, that
    CPLP&#146;s Omnibus Agreement with Capital Maritime be amended
    to include substantially similar terms as the business
    opportunities agreement between Crude and Capital Maritime, and
    to include reasonable time periods during which CPLP could elect
    to pursue business opportunities subject to the terms of the
    Omnibus Agreement.
</DIV>
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    On May&#160;2, 2011, Mr.&#160;Christacopoulos and
    Mr.&#160;Forman discussed the proposed transaction again, and,
    after Mr.&#160;Forman had conferred with the other members of
    the CPLP Conflicts Committee and Evercore, they reached an
    agreement on a fixed 1.56x exchange ratio, without any collars
    or similar adjustments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;1, 2011, Akin Gump sent an initial draft of the
    support agreement to be entered into by Capital Maritime, CCIC
    and certain of their affiliates to Sullivan&#160;&#038;
    Cromwell, and on May 3 to Jones Day. Revised drafts of the
    agreement were exchanged among Akin Gump, Sullivan&#160;&#038;
    Cromwell and Jones Day from May&#160;3rd&#160;until its
    execution on May&#160;5th.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;3, 2011, Jones Day sent a revised draft of the
    merger agreement to Akin Gump reflecting the issues raised by
    Jones Day on a May&#160;2nd&#160;call between the two law firms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Between May&#160;3, 2011 and May&#160;5, 2011, representatives
    of Akin Gump received input from the CPLP Conflicts Committee on
    the remaining open points in the merger agreement, which were
    reflected in the drafts exchanged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;4, 2011, the Crude Independent Committee met to
    receive a status update on all exchanges since its last meeting
    on May&#160;2, 2011. Mr.&#160;Christacopoulos informed the
    committee that the CPLP Conflicts Committee had agreed to the
    fixed 1.56x exchange ratio. He also informed the committee of
    CPLP&#146;s desire to execute the merger agreement prior to the
    opening of the U.S.&#160;stock markets on Thursday,
    May&#160;5th, when CPLP planned to announce its first quarter
    earnings. The Crude Independent Committee and its advisors
    determined that finalizing the merger agreement within that
    timing would be feasible and could potentially be advantageous
    to the Unaffiliated Shareholders in the negotiation of the
    non-financial terms of the merger agreement. In reaching this
    conclusion, the committee made note of all the preparatory work
    that it and its advisors had performed in the weeks leading up
    to this point in the process.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Representatives of Jones Day then reviewed with the Crude
    Independent Committee the current terms of the merger agreement
    reflecting Jones Day&#146;s revisions. Jones Day also reviewed
    with the Crude Independent Committee key issues that remained
    outstanding under the merger agreement, including the number of
    Crude directors to be designated to the CPLP Board. The Crude
    Independent Committee determined, after discussion with its
    advisors, that the committee would request at least one (but
    preferably two) Board seats, and that the designated directors,
    who would be independent, be appointed to the CPLP Conflicts
    Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During this time, and until the resolution of all remaining
    issues in the early morning of May&#160;5th, Jones Day, Akin
    Gump and Sullivan&#160;&#038; Cromwell also exchanged and
    negotiated several drafts of the transaction documents,
    including the merger agreement and the support agreement to be
    entered into by Capital Maritime, CCIC and certain of their
    affiliates whereby Capital Maritime, CCIC and certain of their
    affiliates agreed to vote in favor of the proposed transaction
    and to waive any dissenters&#146; rights they might have.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later on May&#160;4th, members of the Crude Independent
    Committee met with representatives of Jefferies again (with
    representatives of Jones Day also present) to discuss
    Jefferies&#146; financial analyses, as more fully described in
    &#147;The Proposed Transaction&#160;&#151; Opinion of the Crude
    Independent Committee&#146;s Financial Advisor.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Also on May&#160;4, 2011, the CPLP Conflicts Committee and
    representatives of Evercore and Akin Gump met with a
    representative of Capital GP&#146;s senior management to discuss
    the status of the potential transaction and to answer questions
    relating to whether there existed any risks or approvals which
    the CPLP Conflicts Committee had not already considered. The
    representative confirmed the management team&#146;s financial
    forecasts and projections and affirmed that there were no such
    additional risks or approvals and no material changes in the
    operations or performance of the CPLP or Crude, or other
    material events or contingencies, other than as previously
    disclosed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later on May&#160;4, 2011, the CPLP Conflicts Committee met with
    representatives of Evercore and Akin Gump to receive
    Evercore&#146;s updated financial analysis of the proposed
    transaction. Representatives of Akin Gump reviewed the terms of
    the transaction documents and the status of negotiations among
    the parties. The CPLP Conflicts Committee discussed with its
    legal and financial advisors the logistics of the CPLP Conflicts
    Committee approval process with respect to the proposed
    transaction, as well as the CPLP Board meeting that would
    immediately follow the committee meeting.
</DIV>
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    <BR>
    54
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee reconvened on the morning of
    May&#160;5, 2011 to consider whether to recommend the proposed
    transaction to the Crude Board. Representatives of Jones Day and
    Jefferies were present, and drafts of the transaction documents,
    including the merger agreement, and other materials prepared by
    the committee&#146;s advisors were distributed to the members of
    the Crude Independent Committee in advance of the meeting. The
    Crude Independent Committee and its advisors then discussed the
    recent developments with respect to the negotiations and the
    possible resolution of the terms of the merger agreement and the
    related transaction documents, including the support agreement
    pursuant to which Capital Maritime, CCIC and certain of their
    affiliates would agree to vote in favor of the proposed
    transaction. Representatives of Jefferies then discussed with
    the Crude Independent Committee its financial analysis of the
    1.56x exchange ratio in the proposed transaction, as more fully
    described in &#147;The Proposed Transaction&#160;&#151; Opinion
    of the Crude Independent Committee&#146;s Financial
    Advisor.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Representatives of Jefferies then delivered to the Crude
    Independent Committee its opinion to the effect that, as of
    May&#160;5, 2011 and based upon and subject to various
    assumptions made, procedures followed, matters considered and
    limitations on the scope of the review undertaken by Jefferies
    set forth in its opinion, the exchange ratio of 1.56x was fair,
    from a financial point of view, to the Unaffiliated
    Shareholders. Upon completion of its deliberations, all of the
    members of the Crude Independent Committee who remained involved
    in the evaluation of the proposal&#160;CPLP transaction
    unanimously (i)&#160;determined that the merger agreement and
    the transactions contemplated thereby, including the merger, are
    fair and reasonable to, and in the best interests of, the
    Unaffiliated Shareholders, (ii)&#160;recommended to the Crude
    Board that it declare the advisability of, and approve, the
    merger agreement and the transactions contemplated thereby,
    including the merger, and (iii)&#160;recommended to the Crude
    Board that it recommend to the Crude shareholders that they
    adopt and approve the merger agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Following the Crude Independent Committee meeting, the Crude
    Board met to consider the proposed transaction. Representatives
    of management, Sullivan&#160;&#038; Cromwell, Jefferies and
    Jones Day attended the meeting. Drafts of the transaction
    documents, including the merger agreement, and other materials
    prepared by the Crude Independent Committee&#146;s and
    Crude&#146;s advisors were distributed to the members of the
    Crude Board in advance of the meeting. Mr.&#160;Christacopoulos
    described the due diligence reviews undertaken, the history of
    the discussions and the terms of the proposed transaction. A
    representative of Jones Day reviewed the process and analyses
    undertaken by the Crude Independent Committee and gave a
    presentation to the Crude Board of the material terms of the
    transaction documents. At the request of the Crude Independent
    Committee, representatives of Jefferies informed the Board that
    it had discussed with the Crude Independent Committee its
    financial analysis and that it had delivered to the Crude
    Independent Committee its opinion as described above. The Crude
    Independent Committee reported to the Crude Board its
    recommendation as described above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board, based in part on the recommendation of the
    Crude Independent Committee:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    determined that the merger agreement and the transactions
    contemplated thereby, including the merger, are fair and
    reasonable to, and in the best interests of, Crude and its
    shareholders, including the Unaffiliated Shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adopted and approved the merger agreement and the transactions
    contemplated thereby, including the merger;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    resolved to recommend to the Crude shareholders that they
    approve the merger agreement and the transactions contemplated
    thereby, including the merger.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On the morning of May&#160;5, 2011, the CPLP Conflicts
    Committee, with representatives of Evercore and Akin Gump in
    attendance, met to review and consider the proposed transaction.
    Evercore presented a summary of the updated financial analysis
    of the proposed transaction that was previously presented to the
    committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Later on May&#160;5, 2011, the CPLP Board determined, by
    unanimous vote, that the merger agreement and the transactions
    contemplated thereby, are fair and reasonable to, and in the
    best interests of, CPLP and its unitholders and approved the
    merger agreement and the transactions contemplated thereby.
</DIV>
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    <BR>
    55
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Early in the morning of May&#160;5, 2011 (New York time), the
    parties executed the transaction documents. Thereafter, CPLP
    published its financial results for the first quarter of fiscal
    year 2011, and Crude and CPLP issued a joint press release
    announcing the execution of the merger agreement.
</DIV>

<A name='Y91492159'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of the Crude Independent Committee and the Crude Board;
    Crude&#146;s Reasons for the Proposed Transaction</FONT></B>
</DIV>

</A>
<A name='Y91492160'>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The Crude
    Independent Committee</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;3, 2011, following the receipt by the Crude
    Independent Committee of the Initial Proposal from the CPLP
    Conflicts Committee, the Crude Board, after considering, among
    other factors, the relationships among Capital Maritime, CCIC,
    Mr.&#160;Marinakis and their affiliates, authorized the Crude
    Independent Committee to review the transactions proposed by the
    CPLP Conflicts Committee and alternatives thereto, and to
    evaluate, negotiate and make recommendations to the Crude Board
    in connection with the proposed transaction. The Crude
    Independent Committee, with the advice and assistance of its
    independent legal and financial advisors, evaluated and
    negotiated the transaction, including the terms and conditions
    of the merger agreement and the related agreements, with the
    CPLP Conflicts Committee. Following the negotiations, the Crude
    Independent Committee (i)&#160;determined that the transactions
    contemplated by the merger agreement are fair and reasonable to,
    and in the best interests of the, Unaffiliated Shareholders,
    (ii)&#160;recommended to the Crude Board that it declare the
    advisability of, and approve, the merger agreement and the
    transactions contemplated thereby, including the merger, and
    (iii) recommended to the Crude Board that it recommend to the
    Crude shareholders that they adopt and approve the merger
    agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the course of reaching its determination and making the
    recommendation described above, the Crude Independent Committee
    considered a number of factors and a substantial amount of
    information, including at 16 meetings and substantial additional
    discussions in between such meetings with its independent legal
    and financial advisors. The principal factors and benefits that
    the Crude Independent Committee believes support its conclusion
    are set forth below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Positive
    Factors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

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    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The enhanced liquidity and greater cash flows of the combined
    company, which are expected to allow the combined company to
    maintain, and potentially further grow, its distributions to the
    combined company&#146;s unitholders, including former Crude
    shareholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The combined company&#146;s enhanced ability to provide earnings
    and cash flow stability while also having greater potential to
    benefit from stronger crude and product tanker rates.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the exchange ratio in the proposed transaction was
    determined based on the net asset values of Crude and CPLP and
    the dollar value of the exchange ratio represented an
    approximately 35% premium to Crude&#146;s share price on
    May&#160;4, 2011 and an approximately 2.9% premium to
    Crude&#146;s net asset value per share.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The combined company&#146;s improved balance sheet, financial
    flexibility and size, potentially improving its access to debt
    and equity capital markets and better enabling it to pursue
    growth opportunities while maintaining, and potentially further
    growing, its contemplated cash distribution target of $0.93 per
    unit annually.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Crude Independent Committee&#146;s conclusion that the terms
    reflected by the exchange ratio and contained in the merger
    agreement represent the best economic terms that could be
    obtained from CPLP and would result in an approximately 35% pro
    forma ownership interest in CPLP&#146;s assets by current
    Unaffiliated Shareholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The analyses and opinion of Jefferies, dated May&#160;5, 2011,
    to the effect that, as of that date, and based upon and subject
    to the assumptions made, procedures followed, matters considered
    and limitations on the scope of the review undertaken by
    Jefferies set forth in its opinion, the Crude exchange ratio was
    fair, from a financial point of view, to the Unaffiliated
    Shareholders, as more fully described in the
</TD>
</TR>
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    <BR>
    56
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    <TD width="92%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    section captioned &#147;The Proposed Transaction&#160;&#151;
    Opinion of the  Crude Independent Committee&#146;s Financial
    Advisor&#148; beginning on page&#160;60.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the consideration to be paid to Crude shareholders
    was consistent with recent comparable transactions in the
    industry, thereby reinforcing the view that the merger
    consideration was appropriate.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Crude Independent Committee&#146;s view that the merger is
    more favorable to the Unaffiliated Shareholders than the
    possible alternatives to the merger, including continuing to
    operate Crude as an independent publicly traded company in light
    of the limitations that Crude could face as a result of its
    capital structure, including its debt amortization obligations,
    or pursuing alternative transactions in light of CCIC&#146;s
    intention, as conveyed to the Crude Independent Committee by the
    Crude Board, that it did not expect to support any reasonably
    foreseeable transaction with a third party other than CPLP, and
    the uncertainties surrounding the availability of future equity
    or debt financing in light of the current state of the tanker
    market.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the combined company will have substantially
    larger, and more diversified, fleet of modern high specification
    vessels, comprised of two VLCCs, four Suezmaxes, 18 MR Product
    tankers, two smaller product tankers and one Capesize dry cargo
    vessel, with an average age (weighted by dwt) of 3.2&#160;years,
    making it the youngest fleet among U.S.&#160;listed tanker
    companies as of May&#160;5, 2011, and which will have a presence
    in both the crude oil and the petroleum product segments.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The potential positive effects of the proposed transaction on
    existing businesses and customer relationships of the combined
    companies.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The terms and conditions of the merger agreement, including:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

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    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the merger consideration and the exchange ratio payable to Crude
    shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the condition to consummation of the proposed transaction that
    the merger be approved by at least a majority of its
    Unaffiliated Shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the limitations on the interim business operations of Crude and
    CPLP and the conditions to consummation of the proposed
    transaction;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms regarding third party proposals and termination
    (including the potential reimbursement by CPLP of expenses in
    specified circumstances);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the requirement to amend certain provisions in the CPLP
    Partnership Agreement to cause the designation of a Crude
    Independent Committee member to the CPLP Board and to harmonize
    the rights of unitholders of the combined entity to that of the
    shareholders of Crude.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the exchange ratio was fixed and therefore the
    value of the consideration payable to Crude shareholders would
    increase in the event that the unit price of CPLP increased
    prior to closing.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The structuring of the merger to qualify as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code, as in the event of
    qualification, holders of Crude common stock will generally not
    recognize gain or loss for United States federal income tax
    purposes.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The relative market capitalization of Crude and CPLP and the
    expected capital structure of the combined company following the
    proposed transaction.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that CPLP unitholders receive Form&#160;1099s and CPLP
    and Crude are both treated as corporations for United States
    federal income tax purposes, so Crude shareholders&#146; tax
    position would not change.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Negative
    Factors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the exchange ratio was fixed and therefore the
    value of the consideration payable to Crude shareholders would
    decrease in the event that the unit price of CPLP decreased
    prior to closing.
</TD>
</TR>

</TABLE>
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    <BR>
    57
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that Crude shareholders will not be entitled to
    appraisal rights under the merger agreement or Marshall Islands
    law.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The ownership by CCIC of 100% of the issued and outstanding
    shares of Crude Class&#160;B stock and by Mr.&#160;Marinakis of
    approximately 1% of Crude&#146;s outstanding common stock,
    representing approximately 49% of the voting power of all shares
    of outstanding Crude Class B stock and Crude common stock, taken
    together, which could negatively impact the interest of third
    parties in making alternative proposals that could be more
    favorable for Crude than the transactions contemplated by the
    merger agreement.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The fact that the Crude Independent Committee did not solicit
    alternative proposals prior to executing the merger agreement
    (because no alternative proposals were likely to be obtained or,
    if obtained, successfully concluded) in light of CCIC&#146;s
    stated unwillingness to approve a transaction with a third party
    other than CPLP.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The risks and costs associated with the proposed transaction not
    being completed in a timely manner or at all, even if approved
    by Crude&#146;s shareholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The risks and costs associated with diverting management and
    employee attention and resources for an extended period of time
    from other strategic opportunities and operational matters while
    working to implement the proposed transaction.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The potential adverse effects of the proposed transaction on
    existing business and customer relationships.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Potential litigation arising from the merger agreement or the
    proposed transaction.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The substantial transactional costs and expenses expected to be
    incurred by Crude, as well as by CPLP, in connection with the
    proposed transaction.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Under the terms of the merger agreement, (i)&#160;Crude may not
    solicit other takeover proposals and (ii)&#160;Crude, in certain
    circumstances, may be required to pay CPLP a $9.0&#160;million
    termination fee (representing 2.2% of the estimated transaction
    value), less previously paid expenses, if the merger agreement
    is terminated.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Restrictions under the merger agreement on the conduct of
    Crude&#146;s business and its ability to pursue other strategic
    opportunities prior to the completion of the proposed
    transaction.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The risk that, while the merger is expected to be completed,
    there can be no assurance that all conditions to the
    parties&#146; obligations to consummate the merger will be
    satisfied, and, as a result, it is possible that the merger may
    not be completed even if approved by Crude&#146;s shareholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Risks relating to the overall economy, and more particularly the
    crude tanker shipping market, which has deteriorated in recent
    years and which may not recover. See the related risks described
    under the section captioned &#147;Risk Factors&#148; beginning
    on page&#160;22.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The risk that the combined company will be unable to refinance
    Crude&#146;s debt in a timely fashion, on acceptable terms, or
    at all. See the related risks described under the section
    captioned &#147;Risk Factors&#148; beginning on page&#160;22.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee believes that sufficient
    safeguards were and are present to ensure the procedural
    fairness of the transaction and to permit the Crude Independent
    Committee to represent effectively the interests of the
    Unaffiliated Shareholders. These procedural safeguards include
    the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Arms&#146; Length Negotiations.</I>&#160;&#160;The Crude
    Independent Committee engaged in arms&#146; length negotiations,
    with the assistance of independent legal and financial advisors,
    with the CPLP Conflicts Committee and its independent legal and
    financial advisors regarding the merger consideration and the
    other terms of the transaction and the merger agreement, which
    the Crude Independent Committee believes resulted in the
    transaction&#146;s terms being more beneficial to the
    Unaffiliated Shareholders.
</TD>
</TR>

</TABLE>
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    <BR>
    58
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Committee Authority.</I>&#160;&#160;The Crude Independent
    Committee had the exclusive authority to negotiate the terms of
    the transaction on behalf of Crude, had no obligation to
    recommend the approval of the transaction and had the power to
    reject the proposed the transaction on behalf of Crude.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Required Vote of Unaffiliated
    Shareholders.</I>&#160;&#160;The merger agreement requires, as a
    condition to the consummation of the transaction, that the
    merger be approved by the holders of a majority of the
    outstanding shares of Crude common stock held by the
    Unaffiliated Shareholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Advisors.</I>&#160;&#160;The Crude Independent Committee
    received the advice and assistance of Jones Day, as its
    independent legal advisor, and Jefferies, as its independent
    financial advisor, which the Crude Independent Committee
    determined had no relationships that would compromise their
    independence.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Interests of the Committee.</I>&#160;&#160;All four members
    of the Crude Independent Committee, including the three members
    who participated in the deliberations regarding, and negotiated
    the terms of, the proposed transaction are independent Crude
    directors who are not affiliated with Capital Maritime, CCIC or
    any of their affiliates and are not employees of Crude or any of
    its affiliates. Other than the receipt of Crude board and
    committee fees and reimbursement of expenses, which are not
    contingent upon the consummation of the transaction or the Crude
    Independent Committee&#146;s recommendation of the transaction,
    their indemnification and liability insurance rights under the
    merger agreement and the lapsing of transfer restrictions and
    forfeiture provisions with respect to restricted shares or
    options to purchase Crude common stock held by members of the
    Crude Independent Committee (other than the member who will be
    designated to the CPLP Board pursuant to the merger agreement)
    immediately prior to the merger, members of the Crude
    Independent Committee do not have an interest in the transaction
    different from that of Crude shareholders generally, including
    the Unaffiliated Shareholders. While the merger agreement
    provides that one member of the Crude Independent Committee will
    be designated as an independent director of the combined company
    following the completion of the transaction, the Crude
    Independent Committee was not aware prior to acting on the
    proposed transaction that such designation would occur.
    Furthermore, no decision had been made at that time as to which
    member of the Crude Independent Committee would be so designated.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Recommendation Changes and Termination.</I>&#160;&#160;Under
    the terms of the merger agreement, the Crude Board, acting
    through or consistent with the recommendation of the Crude
    Independent Committee, may withdraw, modify or qualify its
    recommendation, or terminate the merger agreement, in certain
    circumstances as more fully described under &#147;The Merger
    Agreement&#160;&#151; Acquisition Proposals and a Company Change
    in Recommendation.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The above discussion is not exhaustive, but it addresses the
    material factors considered by the Crude Independent Committee
    in connection with the proposed transaction. In view of the
    variety of factors and the amount of information considered, as
    well as the complexity of that information, the Crude
    Independent Committee does not find it practicable to, and did
    not, quantify, rank or otherwise assign relative weights to the
    specific factors it considered in reaching its decision. In
    addition, individual members of the Crude Independent Committee
    may have given different weight to different factors. This
    explanation of the Crude Independent Committee&#146;s reasoning,
    and all other information presented in this section, is
    forward-looking in nature and, therefore, should be read in
    light of the factors discussed under the section captioned
    &#147;Special Note Regarding Forward-Looking Statements&#148;
    beginning on page&#160;37.
</DIV>

<A name='Y91492161'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The Crude
    Board of Directors</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board met on May&#160;5, 2011 to consider the merger
    agreement and the transactions contemplated thereby. On the
    basis of the Crude Independent Committee&#146;s recommendations
    and the other factors described below, the Crude Board, among
    other things, (i)&#160;determined that the merger agreement and
    the transactions contemplated thereby, including the merger, are
    fair and reasonable to, and in the best interests of, Crude and
    its shareholders, including the Unaffiliated Shareholders,
    (ii)&#160;adopted and approved the merger agreement and the
    transactions contemplated thereby, including the merger and
    (iii)&#160;resolved to recommend to the Crude shareholders that
    they approve the merger agreement and the transactions
    contemplated thereby, including the merger. See &#147;The
    Proposed Transaction&#160;&#151; Background of the Proposed
    Transaction.&#148;
</DIV>
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    <BR>
    59
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In determining that the merger agreement and the merger are fair
    and reasonable to, and in the best interests of Crude and its
    shareholders, including the Unaffiliated Shareholders, the Crude
    Board considered:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the unanimous determination and recommendation of the Crude
    Independent Committee;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the factors considered by the Crude Independent Committee as
    described in &#147;The Proposed Transaction&#160;&#151;
    Recommendation of the Crude Independent Committee and the Crude
    Board of Directors; Crude&#146;s Reasons for the Proposed
    Transaction&#160;&#151; The Crude Independent Committee,&#148;
    including the positive factors and potential benefits of the
    merger agreement and the merger, the risks and potentially
    negative factors relating to the merger agreement and the merger
    and the factors relating to procedural safeguards.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The above discussion is not exhaustive, but it addresses the
    material factors considered by the Crude Board in connection
    with the proposed transaction. In view of the variety of factors
    and the amount of information considered, as well as the
    complexity of that information, the Crude Board does not find it
    practicable to, and did not, quantify, rank or otherwise assign
    relative weights to the specific factors it considered in
    reaching its decision. The Crude Board discussed the factors
    described above and asked questions of Crude&#146;s management
    and its advisors. This determination was made after the Crude
    Board considered all of the factors as a whole. In addition,
    individual members of the Crude Board may have given different
    weight to different factors. This explanation of the Crude
    Board&#146;s reasoning, and all other information presented in
    this section, is forward-looking in nature and, therefore,
    should be read in light of the factors discussed under the
    section captioned &#147;Special Note Regarding Forward-Looking
    Statements&#148; beginning on page&#160;37.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based in part on the recommendation of the Crude Independent
    Committee, the Crude Board, by the unanimous vote of the
    directors, recommends that Crude&#146;s shareholders vote
    &#147;<B>FOR</B>&#148; the approval of the proposal to adopt the
    merger agreement and to approve the merger.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Opinion
    of the Crude Independent Committee&#146;s Financial
    Advisor</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee retained Jefferies to act as its
    financial advisor in connection with the merger and to render to
    the Crude Independent Committee an opinion as to the fairness of
    the Crude exchange ratio to the Unaffiliated Shareholders. At
    the meeting of the Crude Independent Committee on May&#160;5,
    2011, Jefferies rendered its opinion to the Crude Independent
    Committee to the effect that, as of that date, and based upon
    and subject to the assumptions made, procedures followed,
    matters considered and limitations on the scope of the review
    undertaken by Jefferies set forth in its opinion, the Crude
    exchange ratio was fair, from a financial point of view, to the
    Unaffiliated Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The full text of the written opinion of Jefferies, dated as
    of May&#160;5, 2011, is attached hereto as
    <U>Appendix&#160;B</U>. The opinion sets forth, among other
    things, the assumptions made, procedures followed, matters
    considered and limitations on the scope of the review undertaken
    by Jefferies in rendering its opinion. Crude encourages its
    shareholders to read the opinion carefully and in its entirety.
    Jefferies&#146; opinion is directed to the Crude Independent
    Committee and addresses only the fairness, from a financial
    point of view and as of the date of the opinion, of the Crude
    exchange ratio to the Unaffiliated Shareholders. It does not
    address any other aspects of the merger and does not constitute
    a recommendation as to how any holder of Crude common stock or
    Crude Class&#160;B stock should vote on the merger or any matter
    related thereto. The summary of the opinion of Jefferies set
    forth below is qualified in its entirety by reference to the
    full text of the opinion.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In arriving at its opinion, Jefferies, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed the merger agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed certain publicly available financial and other
    information about Crude and CPLP;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed certain information furnished to Jefferies by the
    managements of Crude and CPLP, including financial forecasts and
    analyses, relating to the business, operations and prospects of
    Crude and CPLP, respectively;
</TD>
</TR>

</TABLE>
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    <BR>
    60
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    held discussions with members of senior managements of Crude and
    CPLP concerning the matters described in the prior two bullets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed the share trading price history and valuation multiples
    for the Crude common stock and the CPLP common units and
    compared them with those of certain publicly traded companies
    that Jefferies deemed relevant;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compared the proposed financial terms of the merger with the
    financial terms of certain other transactions that Jefferies
    deemed relevant;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed the relative financial contributions of Crude and CPLP
    to the future performance of the combined company on a pro forma
    basis;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewed certain third-party appraisals, each of which was as of
    March&#160;31, 2011, furnished to Jefferies by CPLP with regard
    to the vessels owned by CPLP (the &#147;CPLP Appraisals&#148;),
    and certain third-party appraisals, each of which was as of
    March&#160;31, 2011, furnished to Jefferies by Crude with regard
    to the vessels owned by Crude (the &#147;Crude Appraisals, and
    together with the CPLP Appraisals, the &#147;Appraisals&#148;);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    considered the potential pro forma impact of the merger;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    conducted such other financial studies, analyses and
    investigations as Jefferies deemed appropriate.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In Jefferies&#146; review and analysis and in rendering its
    opinion, Jefferies assumed and relied upon, but did not assume
    any responsibility to independently investigate or verify, the
    accuracy and completeness of all financial and other information
    that was supplied or otherwise made available by Crude and CPLP
    to Jefferies or that was publicly available (including, without
    limitation, the information described above), or that was
    otherwise reviewed by Jefferies. In its review, Jefferies relied
    on assurances of the managements of Crude and CPLP that they
    were not aware of any facts or circumstances that would make
    such information inaccurate or misleading. In its review,
    Jefferies did not obtain any independent evaluation or appraisal
    of any of the assets or liabilities of, nor did Jefferies
    conduct a physical inspection of any of the properties or
    facilities of, Crude or CPLP, nor was Jefferies furnished with
    any such evaluations or appraisals, other than the Appraisals,
    nor did Jefferies assume any responsibility to obtain any such
    evaluations or appraisals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to the financial forecasts provided to and examined
    by Jefferies, Jefferies&#146; opinion noted that projecting
    future results of any company is inherently subject to
    uncertainty. Crude and CPLP informed Jefferies, and Jefferies
    assumed, that such financial forecasts were reasonably prepared
    on bases reflecting the best currently available estimates and
    good faith judgments of the managements of Crude and CPLP as to
    the future financial performance of Crude and CPLP,
    respectively. Jefferies expressed no opinion as to the financial
    forecasts provided to Jefferies by Crude or CPLP or the
    assumptions on which they are made.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies&#146; opinion was based on economic, monetary,
    regulatory, market and other conditions existing and which could
    be evaluated as of the date of its opinion. Jefferies expressly
    disclaimed any undertaking or obligation to advise any person of
    any change in any fact or matter affecting Jefferies&#146;
    opinion of which Jefferies became aware after the date of its
    opinion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies made no independent investigation of any legal or
    accounting matters affecting Crude or CPLP, and Jefferies
    assumed the correctness in all respects material to
    Jefferies&#146; analysis of all legal and accounting advice
    given to Crude, the Crude Independent Committee and the Crude
    Board, including, without limitation, advice as to the legal,
    accounting and tax consequences of the terms of, and
    transactions contemplated by, the merger agreement to Crude and
    its shareholders. In addition, in preparing its opinion,
    Jefferies did not take into account any tax consequences of the
    merger to any holder of Crude common stock. Crude advised
    Jefferies that the merger will qualify as a tax-free
    reorganization for United States federal income tax purposes.
    Jefferies also assumed that in the course of obtaining the
    necessary regulatory or third party approvals, consents and
    releases for the merger, no delay, limitation, restriction or
    condition would be imposed that would have an adverse effect on
    Crude, CPLP or the contemplated benefits of the merger.
</DIV>
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    <BR>
    61
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies was not authorized to and did not solicit any
    expressions of interest from any other parties with respect to
    the sale of all or any part of Crude or any other alternative
    transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies&#146; opinion was for the use and benefit of the Crude
    Independent Committee in its consideration of the merger, and
    Jefferies&#146; opinion did not address the relative merits of
    the transactions contemplated by the merger agreement as
    compared to any alternative transaction or opportunity that
    might be available to Crude, nor did it address the underlying
    business decision by Crude to engage in the merger or the terms
    of the merger agreement or the documents referred to therein.
    Jefferies&#146; opinion did not constitute a recommendation as
    to how any holder of Crude common stock or Crude Class&#160;B
    stock should vote on the merger or any matter related thereto.
    Jefferies was not asked to address, and its opinion did not
    address, the fairness to, or any other consideration of, the
    holders of any class of securities, creditors or other
    constituencies of Crude, other than the holders of Crude common
    stock. Jefferies expressed no opinion as to the price at which
    Crude common stock or CPLP common units would trade at any time.
    Furthermore, Jefferies did not express any view or opinion as to
    the fairness, financial or otherwise, of the amount or nature of
    any compensation payable or to be received by any of
    Crude&#146;s officers, directors or employees, or any class of
    such persons, in connection with the merger, whether relative to
    the Crude exchange ratio or otherwise. Jefferies&#146; opinion
    has been authorized by the Fairness Committee of Jefferies.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In preparing its opinion, Jefferies performed a variety of
    financial and comparative analyses. The preparation of a
    fairness opinion is a complex process involving various
    determinations as to the most appropriate and relevant
    quantitative and qualitative methods of financial analysis and
    the applications of those methods to the particular
    circumstances and, therefore, is not necessarily susceptible to
    partial analysis or summary description. Jefferies believes that
    its analyses must be considered as a whole. Considering any
    portion of Jefferies&#146; analyses or the factors considered by
    Jefferies, without considering all analyses and factors, could
    create a misleading or incomplete view of the process underlying
    the conclusion expressed in Jefferies&#146; opinion. In
    addition, Jefferies may have given various analyses more or less
    weight than other analyses, and may have deemed various
    assumptions more or less probable than other assumptions, so
    that the range of valuations resulting from any particular
    analysis described below should not be taken to be
    Jefferies&#146; view of Crude&#146;s or CPLP&#146;s actual
    value. Accordingly, the conclusions reached by Jefferies are
    based on all analyses and factors taken as a whole and also on
    the application of Jefferies&#146; own experience and judgment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In performing its analyses, Jefferies made numerous assumptions
    with respect to industry performance, general business,
    economic, monetary, regulatory, market and other conditions and
    other matters, many of which are beyond Crude&#146;s and
    Jefferies&#146; control. The analyses performed by Jefferies are
    not necessarily indicative of actual values or actual future
    results, which may be significantly more or less favorable than
    suggested by such analyses. In addition, analyses relating to
    the per share value of Crude common stock do not purport to be
    appraisals or to reflect the prices at which Crude common stock
    may actually be sold. The analyses performed were prepared
    solely as part of Jefferies&#146; analysis of the fairness, from
    a financial point of view, of the Crude exchange ratio pursuant
    to the merger agreement to the Unaffiliated Shareholders, and
    were provided to the Crude Independent Committee in connection
    with the delivery of Jefferies&#146; opinion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following is a summary of the material financial and
    comparative analyses performed by Jefferies in connection with
    Jefferies&#146; delivery of its opinion. The financial analyses
    summarized below include information presented in tabular
    format. In order to fully understand Jefferies&#146; financial
    analyses, the tables must be read together with the text of each
    summary. The tables alone do not constitute a complete
    description of the financial analyses. Considering the data
    described below without considering the full narrative
    description of the financial analyses, including the
    methodologies and assumptions underlying the analyses, could
    create a misleading or incomplete view of Jefferies&#146;
    financial analyses.
</DIV>

<A name='Y91492162'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Transaction
    Overview</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based upon the approximately 16.0&#160;million shares of Crude
    common stock and Crude Class&#160;B stock that were outstanding
    as of May&#160;3, 2011 on a fully diluted basis, the closing
    price per CPLP common unit of $11.32 on that date and the Crude
    exchange ratio of 1.56 CPLP common units per share of Crude
    common stock and Crude Class&#160;B stock, Jefferies noted that
    the implied value of the merger consideration pursuant to
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the merger agreement was approximately $17.66 per share of Crude
    common stock, which is referred to as the &#147;Implied Merger
    Consideration Value.&#148; Based on the implied equity value of
    $282.6&#160;million, plus approximately $134.6&#160;million in
    Crude indebtedness as of June&#160;30, 2011 (&#147;Crude
    Indebtedness&#148;), less approximately $14.2&#160;million of
    Crude cash and cash equivalents as of June&#160;30, 2011 and net
    of an estimated $3.9&#160;million dividend to be paid to the
    holders of Crude common stock and Crude Class&#160;B stock in
    the second quarter of 2011 (&#147;Crude Cash and Cash
    Equivalents&#148;), Jefferies noted that the Crude exchange
    ratio of 1.56 implied an enterprise value for Crude of
    approximately $403.0&#160;million. Jefferies also noted that the
    Implied Merger Consideration Value of $17.66 per share of Crude
    common stock represented:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a premium of approximately 36.3% over the closing price per
    share of Crude common stock on May&#160;2, 2011,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a premium of approximately 39.8% over the closing price per
    share of Crude common stock on April&#160;26, 2011&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a premium of approximately 16.6% over the closing price per
    share of Crude common stock on April&#160;2, 2011.
</TD>
</TR>

</TABLE>

<A name='Y91492163'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude
    Analysis</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Adjusted
    Net Asset Value Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies performed an adjusted net asset value, or NAV,
    analysis for Crude based on the asset valuations set forth in
    the Crude Appraisals totaling approximately $386&#160;million
    and $402&#160;million, respectively, for the vessels comprising
    Crude&#146;s fleet. In performing such analysis, such asset
    valuations were adjusted, to the extent applicable where the
    charter governing the use of a vessel does not provide for its
    use at spot market rates, to reflect estimated cash flows over
    the life of the vessel&#146;s charter based on forward rates
    provided by an internationally recognized ship valuation
    company; however, no such adjustments were required to be made
    for Crude. Jefferies derived the midpoint of such asset
    valuations and subtracted Crude Indebtedness and added Crude
    Cash and Cash Equivalents to determine an adjusted NAV for Crude
    of approximately $273.5&#160;million (the &#147;Crude Adjusted
    NAV&#148;). This analysis indicated a range, based on the asset
    valuations contained in such appraisals, of implied values per
    share of Crude common stock, on a fully diluted basis, of $16.58
    to $17.60, compared to the Implied Merger Consideration Value of
    $17.66.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available information, financial forecasts and
    other information provided by Crude&#146;s management, Jefferies
    analyzed the trading multiples of Crude and the corresponding
    trading multiples of the following publicly traded companies, in
    each case as of May&#160;3, 2011, with similar assets and
    vessels and similar operating and financial characteristics,
    which are referred to as the &#147;Selected Public
    Companies&#148;:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Normal
    Corporate&#160;&#151; Wet</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    General Maritime Corporation
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Navios Maritime Acquisition Corporation
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Overseas Shipholding Group, Inc.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Scorpio Tankers Inc.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Teekay Corporation
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    TORM A/S
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Tsakos Energy Navigation Limited
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Yield-Oriented&#160;&#151;
    Wet</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    DHT Holdings, Inc.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    63
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Frontline Ltd.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Nordic American Tanker Shipping Limited
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Teekay Tankers Ltd.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Yield-Oriented&#160;&#151;
    MLP</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Golar LNG Partners L.P.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Martin Midstream Partners L.P.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Navios Maritime Partners L.P.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Teekay LNG Partners L.P.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Teekay Offshore Partners L.P.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In its analysis, Jefferies derived and compared multiples or
    percentages, as the case may be, for Crude and the Selected
    Public Companies, calculated as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the total enterprise value divided by estimated earnings before
    interest, taxes, depreciation and amortization, or EBITDA, for
    calendar year 2011, which is referred to as &#147;Enterprise
    Value/2011E EBITDA&#148;;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the total enterprise value divided by estimated EBITDA for
    calendar year 2012, which is referred to as &#147;Enterprise
    Value/2012E EBITDA&#148;;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    where estimated adjusted net asset values were available, the
    price per share divided by the adjusted net asset value per
    share, which is referred to as &#147;Price/Adjusted NAV.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This analysis indicated the following:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Multiples and Percentages<BR>
    Normal Corporate&#160;&#151; Wet</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.6
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.8
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price/Adjusted NAV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    122.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    102.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Company Multiples and Percentages<BR>
    Yield-Oriented&#160;&#151; Wet</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="68%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price/Adjusted NAV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    162.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    120.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    148.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Company Multiples and Percentages<BR>
    Yield-Oriented&#160;&#151; MLP</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="68%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.8
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price/Adjusted NAV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    197.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    197.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    197.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    197.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    64
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using the reference ranges for Enterprise Value/2011E EBITDA and
    Enterprise Value/2012E EBITDA set forth below and Crude&#146;s
    estimated EBITDA for 2011 and 2012 (based on management&#146;s
    projections), Jefferies determined implied total enterprise
    values for Crude, then subtracted Crude Indebtedness and added
    Crude Cash and Cash Equivalents to determine implied equity
    values. Using the reference ranges for Price/Adjusted NAV set
    forth below and the Crude Adjusted NAV, Jefferies determined
    implied equity values for Crude. These analyses indicated the
    ranges of implied values per share of Crude common stock, on a
    fully diluted basis, set forth opposite the relevant benchmarks
    below, compared, in each case, to the Implied Merger
    Consideration Value of $17.66:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Reference Ranges and Implied Price
    Ranges</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="66%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Implied Price<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Reference Range</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Range</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.5x - 19.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.34 - $17.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.5x - 12.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.36 - $13.49
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Price/Adjusted NAV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    90.0% - 110.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.38 - $18.79
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No company utilized in the selected public company analysis is
    identical to Crude. In evaluating the Selected Public Companies,
    Jefferies made judgments and assumptions with regard to industry
    performance, general business, economic, market and financial
    conditions and other matters, many of which are beyond
    Crude&#146;s and Jefferies&#146; control. Mathematical analysis,
    such as determining the mean and median, is not in itself a
    meaningful method of using comparable company data.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Precedent
    Transactions Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available information, Jefferies examined the
    following five transactions, announced since September 2006,
    involving companies in the maritime transportation and related
    industries. The transactions considered and the month and year
    each transaction was announced were as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="33%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date Announced</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Acquiror</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Target</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    August&#160;5, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    General Maritime Corporation
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Arlington Tankers Limited
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    February&#160;29, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Excel Maritime Carriers Ltd.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Quintana Maritime Limited
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    July&#160;30, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Bear Stearns Merchant Banking
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    MC Shipping Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    April&#160;17, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Teekay Corporation and TORM A/S
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    OMI Corporation
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    September&#160;25, 2006
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Overseas Shipholding Group, Inc.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Maritrans Inc.
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available estimates and other information for
    each of these transactions, Jefferies reviewed the implied
    enterprise value as a multiple of the target company&#146;s
    EBITDA for the last 12&#160;months as of the announcement date
    of such transaction, or LTM EBITDA, which is referred to as
    &#147;Enterprise Value/LTM EBITDA&#148;.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This analysis indicated the following:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Precedent
    Transactions Multiples</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/LTM EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.8
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.2x
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using a reference range of 7.5x&#160;&#151; 11.5x Enterprise
    Value/LTM EBITDA and Crude&#146;s projected LTM EBITDA as of
    June&#160;30, 2011, Jefferies determined implied enterprise
    values for Crude, then subtracted indebtedness and added cash
    and cash equivalents to determine implied equity values. This
    analysis indicated
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    65
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a range of implied values per share of Crude common stock, on a
    fully diluted basis, of $3.05&#160;&#151; $8.69, compared to the
    Implied Merger Consideration Value of $17.66.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No transaction utilized as a comparison in the precedent
    transaction analysis is identical to the merger. In evaluating
    the merger, Jefferies made numerous judgments and assumptions
    with regard to industry performance, general business, economic,
    market, and financial conditions and other matters, many of
    which are beyond Crude&#146;s and Jefferies&#146; control.
    Mathematical analysis, such as determining the mean and median,
    is not in itself a meaningful method of using comparable
    transaction data.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Premiums
    Paid Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available information, Jefferies analyzed the
    premiums offered in completed transactions announced from
    January&#160;1, 2008 to May&#160;3, 2011 having transaction
    values between $100&#160;million and $1&#160;billion involving
    all industries other than the real estate and financial
    industries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For each of these transactions, Jefferies calculated the premium
    represented by the offer price over the target company&#146;s
    closing share price one day, one week and one month prior to the
    transaction&#146;s announcement. This analysis indicated the
    following premiums for those time periods prior to announcement:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Premiums
    Paid Percentages</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="60%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>75th<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>25th<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Time Period Prior to Announcement</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percentile</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percentile</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    1&#160;day
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    207.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.1
</TD>
<TD nowrap align="left" valign="bottom">
    %)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    1&#160;week
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    298.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7.4
</TD>
<TD nowrap align="left" valign="bottom">
    %)
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    1&#160;month
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    353.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.4
</TD>
<TD nowrap align="left" valign="bottom">
    %)
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using a reference range based on the 25th percentile to the 75th
    percentile of the premiums set forth above for the one day, one
    week and one month prior to May&#160;3, 2011, Jefferies
    performed a premiums paid analysis using the closing prices of
    shares of Crude common stock for the periods one day, one week
    and one month prior to May&#160;3, 2011. These analyses
    indicated a range of implied values per share of Crude common
    stock of $14.27 to $22.85, compared to the Implied Merger
    Consideration Value of $17.66.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP
    Analysis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Adjusted
    NAV Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies performed an adjusted NAV analysis for CPLP based on
    the asset valuations set forth in the CPLP Appraisals, adjusted
    as described below, which adjusted asset valuations totaled
    approximately $801&#160;million and $874&#160;million,
    respectively, for the vessels comprising CPLP&#146;s fleet and
    the Cape Agamemnon. In performing such analysis, such asset
    valuations were adjusted, to the extent applicable where a
    vessel&#146;s charter does not provide for its use at spot
    market rates, to reflect estimated cash flows over the life of
    the vessel&#146;s charter based on forward rates provided by an
    internationally recognized ship valuation company. Jefferies
    derived the midpoint of such adjusted asset valuations and
    subtracted indebtedness as of June&#160;30, 2011 and pro forma
    for the acquisition of the Cape Agamemnon (&#147;CPLP
    Indebtedness&#148;) and added cash and cash equivalents as of
    June&#160;30, 2011 and pro forma for the acquisition of the Cape
    Agamemnon and net of distributions for the second quarter of
    2011 (&#147;CPLP Cash and Cash Equivalents&#148;) to determine
    an adjusted NAV for CPLP of approximately $382.1&#160;million
    (the &#147;CPLP Adjusted NAV&#148;). This analysis indicated a
    range of implied values per CPLP common unit, on a fully diluted
    basis (including fully diluted units outstanding pro forma for
    CPLP&#146;s acquisition of the Cape Agamemnon), of $7.56 to
    $9.16, compared to the closing price per CPLP common unit on
    May&#160;3, 2011 of $11.32.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available information and financial forecasts and
    other information provided to the financial advisors, Jefferies
    analyzed the trading multiples of CPLP and the corresponding
    trading multiples of
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    66
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the Selected Public Companies. In its analysis, Jefferies
    derived and compared multiples for CPLP and the Selected Public
    Companies, calculated as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Enterprise Value/2011E EBITDA;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Enterprise Value/2012E EBITDA;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the estimated dividend yield for calendar year 2011, which is
    referred to as &#147;2011E Dividend Yield&#148;;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the estimated dividend yield for calendar year 2012, which is
    referred to as &#147;2012E Dividend Yield.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This analysis indicated the following:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Multiples and Percentages<BR>
    Normal Corporate&#160;&#151; Wet</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="71%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.6
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.8
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Multiples and Percentages<BR>
    Yield-Oriented&#160;&#151; Wet</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Multiples and Percentages<BR>
    Yield-Oriented&#160;&#151; MLP</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Mean</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Median</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.3
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.8
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.9
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.4
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using the reference ranges for Enterprise Value/2011E EBITDA and
    Enterprise Value/2012E EBITDA set forth below and estimated
    EBITDA of CPLP for 2011 (including a full year contribution from
    the Cape Agamemnon acquisition) and 2012, Jefferies determined
    implied total enterprise values for CPLP, then subtracted CPLP
    Indebtedness and added CPLP Cash and Cash equivalents to
    determine implied equity values. Using the reference ranges for
    2011E Dividend Yield and 2012E Dividend Yield set forth below
    and CPLP&#146;s projected distributions for 2011 and 2012,
    Jefferies determined implied equity values per CPLP common
    units. These analyses indicated the ranges of implied values per
    CPLP common unit, on a fully diluted basis (including fully
    diluted units outstanding pro forma for CPLP&#146;s acquisition
    of the Cape Agamemnon), set forth
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    67
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    opposite the relevant benchmarks below, compared, in each case,
    to the closing price per CPLP common unit on May&#160;3, 2011 of
    $11.32:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Reference Ranges and Implied Price
    Ranges</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="70%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Reference<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Implied Price<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Benchmark</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Range</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Range</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2011E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.5x - 12.0
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.72 - $13.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Enterprise Value/2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.0x - 11.5
</TD>
<TD nowrap align="left" valign="bottom">
    x
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.30 - $11.97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5% - 8.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.63 - $14.31
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E Dividend Yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.0% - 8.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.94 - $13.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No company utilized in the selected public company analysis is
    identical to CPLP. In evaluating the selected companies,
    Jefferies made judgments and assumptions with regard to industry
    performance, general business, economic, market and financial
    conditions and other matters, many of which are beyond
    CPLP&#146;s and Jefferies&#146; control. Mathematical analysis,
    such as determining the mean and median, is not in itself a
    meaningful method of using comparable company data.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Implied
    Exchange Ratio Analysis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Adjusted
    NAV Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using the range of implied per share equity values for Crude of
    $16.58 to $17.60 and the range of implied per unit equity values
    for CPLP of $7.56 to $9.16 based on the adjusted NAV analysis
    for each company on a standalone basis as described above,
    Jefferies calculated implied exchange ratios by
    (i)&#160;dividing the lowest implied value per share of Crude
    common stock by the highest implied value per CPLP common unit
    to arrive at the low end of the implied exchange ratio range and
    (ii)&#160;dividing the highest implied value per share of Crude
    common stock by the lowest implied value per CPLP common unit to
    arrive at the high end of the implied exchange ratio range. This
    analysis indicated a range of implied exchange ratios of 1.81 to
    2.33, compared to the Crude exchange ratio set forth in the
    merger agreement of 1.56.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Selected
    Public Company Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><U>Enterprise Value/2011E EBITDA.</U></I>&#160;&#160;Using
    the range of implied per share equity values for Crude of $6.34
    to $17.57 and the range of implied per unit equity values for
    CPLP of $6.72 to $13.60 based on the Enterprise Value/2011E
    EBITDA metric of the selected public company analysis for each
    company on a standalone basis as described above, Jefferies
    calculated implied exchange ratios by (i)&#160;dividing the
    lowest implied value per share of Crude common stock by the
    highest implied value per CPLP common unit to arrive at the low
    end of the implied exchange ratio range and (ii)&#160;dividing
    the highest implied value per share of Crude common stock by the
    lowest implied value per CPLP common unit to arrive at the high
    end of the implied exchange ratio range. This analysis indicated
    a range of implied exchange ratios of 0.47 to 2.61, compared to
    the Crude exchange ratio set forth in the merger agreement of
    1.56.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><U>Enterprise Value/2012E EBITDA.</U></I>&#160;&#160;Using
    the range of implied per share equity values for Crude of $7.36
    to $13.49 and the range of per unit implied equity values for
    CPLP of $5.30 to $11.97 based on the Enterprise Value/2012E
    EBITDA metric of the selected public company analysis for each
    company on a standalone basis as described above, Jefferies
    calculated implied exchange ratios by (i)&#160;dividing the
    lowest implied value per share of Crude common stock by the
    highest implied value per CPLP common unit to arrive at the low
    end of the implied exchange ratio range and (ii)&#160;dividing
    the highest implied value per share of Crude common stock by the
    lowest implied value per CPLP common unit to arrive at the high
    end of the implied exchange ratio range. This analysis indicated
    a range of implied exchange ratios of 0.61 to 2.55, compared to
    the Crude exchange ratio set forth in the merger agreement of
    1.56.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    68
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Precedent
    Transaction Analysis</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using the range of implied per share equity values for Crude of
    $3.05 to $8.69 based on the precedent transaction analysis for
    Crude on a standalone basis as described above, and the range of
    implied per unit equity values for CPLP of $6.72 to $13.60 based
    on the Enterprise Value/2011E EBITDA metric of the selected
    public company analysis for CPLP on a standalone basis as
    described above, Jefferies calculated implied exchange ratios by
    (i)&#160;dividing the lowest implied value per share of Crude
    common stock by the highest implied value per CPLP common unit
    to arrive at the low end of the implied exchange ratio range and
    (ii)&#160;dividing the highest implied value per share of Crude
    common stock by the lowest implied value per CPLP common unit to
    arrive at the high end of the implied exchange ratio range. This
    analysis indicated a range of implied exchange ratios of 0.22 to
    1.29, compared to the Crude exchange ratio set forth in the
    merger agreement of 1.56.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Implied
    Historical Exchange Ratio Analysis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on the daily closing price per share of Crude common stock
    and CPLP common unit on May&#160;3, 2011 and using the various
    time periods set forth below ending on that date, Jefferies
    calculated a range of implied historical exchange ratios by
    dividing the daily closing price per CPLP common unit by the
    daily closing price per share of Crude common stock. This
    analysis indicated the following implied historical exchange
    ratios, compared, in each case, to the Crude exchange ratio set
    forth in the merger agreement of 1.56:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="78%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="18%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Period</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Implied Exchange Ratio</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    May&#160;3, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.1449
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">30-day</FONT>
    average
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.2586
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">60-day</FONT>
    average
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.3980
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">90-day</FONT>
    average
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.4376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">120-day</FONT>
    average
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.4922
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">1-year</FONT>
    average
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.8654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">1-year</FONT> high
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.2606
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">1-year</FONT> low
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.1091
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Pro
    Forma Relative Contribution Analysis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on information provided by the management of each of Crude
    and CPLP, Jefferies compared the standalone contribution of each
    of Crude and CPLP to projected EBITDA and operating cash flow,
    calculated as EBITDA less net interest expense, for fiscal years
    2011, 2012 and 2013 and adjusted NAV for the combined company,
    as determined by combining the Crude Adjusted NAV and the CPLP
    Adjusted NAV. Jefferies derived implied ownership of the
    combined company by holders of Crude common stock and Crude
    Class&#160;B stock and holders of CPLP common units for each
    metric based on the relative contributions to each metric for
    the combined company by each of Crude and CPLP, after, for
    EBITDA calculations, subtracting Crude Indebtedness and CPLP
    Indebtedness, as applicable. This analysis indicated implied
    ownership as follows, compared,
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    69
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in each case, to the implied actual ownership percentages of
    Crude stockholders and CPLP unitholders of 35.1% and 64.9%,
    respectively, based on the Crude exchange ratio set forth in the
    merger agreement of 1.56:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Implied Ownership<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Metric</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Crude / CPLP)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E EBITDA(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.6% / 82.4%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.3% / 72.7%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013E EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32.2% / 67.8%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011E Operating Cash Flow(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.9% / 79.1%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012E Operating Cash Flow
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.8% / 74.2%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013E Operating Cash Flow
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28.7% / 71.3%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Adjusted NAV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.7% / 58.3%
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Estimated EBITDA and estimated operating cash flow for CPLP for
    2011 was adjusted to include a full year contribution from the
    Cape Agamemnon acquisition.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    Factors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Using publicly available information and information provided by
    the managements of CPLP and Crude, Jefferies reviewed, among
    other things, the potential pro forma effect of the merger on
    each of CPLP&#146;s and Crude&#146;s fiscal years 2011, 2012 and
    2013 estimated distributions to holders of CPLP common units and
    Crude common shares, as applicable. Based on, among other
    things, an illustrative merger closing date of June&#160;30,
    2011 and assuming that Crude drydocking costs are expensed
    rather than capitalized in fiscal year 2013, this analysis
    indicated that the merger could, during the fiscal years
    reviewed, (i)&#160;be neutral to CPLP&#146;s estimated
    distributions to holders of CPLP common units and (ii)&#160;be
    accretive to Crude&#146;s estimated distributions to holders of
    Crude common shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">General</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies&#146; opinion was one of many factors taken into
    consideration by the Crude Independent Committee in making its
    determination to recommend the merger to the Crude Board and
    should not be considered determinative of the views of the Crude
    Independent Committee or management with respect to the merger
    or the merger consideration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies was selected by the Crude Independent Committee based
    on Jefferies&#146; qualifications, expertise and reputation.
    Jefferies is an internationally recognized investment banking
    and advisory firm. Jefferies, as part of its investment banking
    business, is regularly engaged in the valuation of businesses
    and securities in connection with mergers and acquisitions,
    negotiated underwritings, competitive biddings, secondary
    distributions of listed and unlisted securities, private
    placements, financial restructurings and other financial
    services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jefferies maintains a market in the securities of Crude, and in
    the ordinary course of business, Jefferies and its affiliates
    may trade or hold securities of Crude or CPLP
    <FONT style="white-space: nowrap">and/or</FONT> their
    respective affiliates for its own account and for the accounts
    of its customers and, accordingly, may at any time hold long or
    short positions in those securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to an engagement agreement between Crude, the Crude
    Independent Committee and Jefferies dated April&#160;6, 2011,
    Crude has agreed to pay Jefferies a fee for its services in the
    amount of approximately $2.6&#160;million, a portion of which
    was payable upon delivery of Jefferies&#146; opinion and a
    significant portion of which is payable contingent upon
    consummation of the merger. In addition, Crude has agreed to
    reimburse Jefferies for expenses Jefferies has incurred in
    connection with rendering its services under the engagement
    agreement. Crude also has agreed to indemnify Jefferies against
    liabilities arising out of or in connection with the services
    rendered and to be rendered by it under its engagement. In
    addition, Jefferies may seek to, in the future, provide
    financial advisory and financing services to Crude, CPLP or
    entities that are affiliated with Crude or CPLP, for which it
    would expect to receive compensation.
</DIV>
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    <BR>
    70
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492164'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Interests
    of Crude&#146;s Directors and Executive Officers in the Proposed
    Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There is substantial overlap of the ownership and control of
    Crude and CPLP. CCIC is controlled by Evangelos M. Marinakis,
    the Chairman and Chief Executive Officer of Crude and the
    Chairman of CPLP. Mr.&#160;Marinakis also is the Chief Executive
    Officer of Capital Maritime, the owner of Capital GP. In
    addition, there is significant overlap between the senior
    management teams of each of Crude and Capital GP. Crude
    shareholders should note that some Crude directors and executive
    officers have interests in the proposed transaction as directors
    or officers that are different from, or in addition to, the
    interests of other Crude shareholders. The Crude Board was aware
    of these interests and considered them, among other matters, in
    reaching its decisions to approve the merger agreement and to
    recommend that Crude&#146;s shareholders vote in favor of the
    approval and adoption of the merger agreement. As provided in
    the merger agreement, at the completion of the proposed
    transaction, the combined company&#146;s board will include one
    member who is currently a member of the Crude Board, namely
    Dimitris Christacopoulos. In addition, the transfer restrictions
    and forfeiture provisions with respect to Crude Awards (as
    defined below) held by members of the Crude Independent
    Committee, other than the member to be designated to the CPLP
    Board, will lapse immediately prior to the effective time of the
    merger.
</DIV>

<A name='Y91492165'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Indemnification</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement includes provisions relating to
    indemnification and insurance for directors and officers of
    CPLP. See the section captioned &#147;The Merger
    Agreement&#160;&#151; Indemnification and Insurance; Rights of
    Third Parties&#148; beginning on page&#160;97.
</DIV>

<A name='Y91492166'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Continuing
    Board and Management Positions</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At the effective time of the proposed transaction, the combined
    company board of directors will consist of CPLP&#146;s current
    directors and one member of the Crude Independent Committee
    designated by Crude, namely Dimitris Christacopoulos. The
    arrangements for Crude&#146;s executive officers will be
    announced at a later time. For information about where you can
    find out more about the combined company&#146;s directors and
    executive officers at the effective time of the proposed
    transaction, please see the section captioned &#147;Where You
    Can Find More Information&#148; beginning on page&#160;125.
</DIV>

<A name='Y91492167'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Listing
    of CPLP Common Units; Deregistration and Delisting of Crude
    Common Stock</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP common units are currently listed and traded on Nasdaq
    under the trading symbol &#147;CPLP.&#148; Upon consummation of
    the proposed transaction, CPLP common units will continue to be
    listed and traded on Nasdaq. Crude common stock is currently
    listed and traded on the NYSE under the trading symbol
    &#147;CRU.&#148; Upon consummation of the proposed transaction,
    Crude common stock will no longer be listed or traded on the
    NYSE. The Crude common stock will be delisted from the NYSE and
    deregistered under the Exchange Act. Registration under the
    Exchange Act may be terminated upon application to the SEC if
    shares of Crude common stock are neither listed on a national
    securities exchange nor held by 300 or more holders of record.
    As a result of such deregistration, Crude will no longer be
    required to file reports with the SEC or otherwise be subject to
    the United States federal securities laws applicable to public
    companies.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The shareholders of Crude will become unitholders of CPLP upon
    consummation of the proposed transaction.
</DIV>

<A name='Y91492168'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Distribution
    and Dividend Information</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Historically, CPLP has intended to pay quarterly cash
    distributions of $0.3750 per common unit to the extent CPLP has
    sufficient cash from operations after establishment of cash
    reserves and payment of fees and expenses, including payments to
    CPLP&#146;s general partner. CPLP has generally declared those
    distributions in January, April, July and October of each year
    and paid those distributions in the subsequent month. In January
    2010 CPLP introduced an annual distribution guidance of $0.90
    per annum, or $0.225 per quarter. In July 2010 CPLP revised its
    annual distribution guidance to $0.93 per annum, or $0.2325 per
    quarter.
</DIV>
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    <BR>
    71
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In October 2010, CPLP declared a cash distribution of $0.2325
    per unit, and paid that distribution on November&#160;16, 2010
    to unitholders of record on November&#160;5, 2010. In January
    2011, CPLP declared a cash distribution of $0.2325 per unit, and
    paid that distribution on February&#160;15, 2011 to unitholders
    of record on February&#160;4, 2011. In April 2011, CPLP declared
    a cash distribution of $0.2325, and paid that distribution on
    May&#160;16, 2011 to unitholders of record on May&#160;9, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s dividend policy is to pay a variable quarterly
    dividend based on its cash available for distribution, which
    represents net cash flow generated by its vessels trading in the
    crude tanker market during the previous quarter, less any amount
    required to maintain a reserve the Crude Board determines from
    time to time as appropriate for the operation and future growth
    of the fleet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In November 2010, Crude declared a cash dividend of $0.20 per
    share, and paid that dividend on December&#160;7, 2010 to
    shareholders of record on November&#160;24, 2010. In February
    2011, Crude declared a cash dividend of $0.30 per share, and
    paid that dividend on March&#160;2, 2011 to shareholders of
    record on February&#160;23, 2011. In May 2011, Crude declared a
    cash dividend of $0.25 per share, and paid that dividend on
    June&#160;1, 2011 to shareholders of record on May&#160;23, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides that Crude may not declare or pay
    any dividends except the declaration and payment of a regular
    quarterly dividend for the quarter ended March&#160;31, 2011 and
    the quarter ending June&#160;30, 2011, in each case not in
    excess of $0.25 per share of Crude common stock and Crude
    Class&#160;B stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board and the CPLP Board will continue to evaluate
    their respective dividend and distribution policies in light of
    applicable business, financial, legal and regulatory
    considerations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has a cash distribution target of $0.93 per unit. The
    payment of distributions by CPLP following the merger, however,
    will be subject to approval and declaration by the CPLP Board
    and will depend on a variety of factors, including business,
    financial, legal and regulatory considerations, including but
    not limited to, vessel earnings remaining at current levels or
    improving, refinancing of current debt obligations in a timely
    fashion, operating and voyage expenses remaining at comparable
    levels, no accidents or material loss to its vessels occurring,
    as well as covenants under the combined company&#146;s credit
    facilities. Please see the relevant subheadings under the
    section captioned &#147;Risk Factors&#148; beginning on
    page&#160;22.
</DIV>

<A name='Y91492169'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Treatment
    of Existing Debt Facilities in the Proposed
    Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Neither Crude nor CPLP anticipates drawing down on its credit
    facilities in connection with the consummation of the proposed
    transaction. The parties anticipate that, following the merger,
    CPLP may reach an arrangement with its lenders to draw down its
    existing credit facilities to refinance the debt of Crude&#146;s
    vessels unless CPLP obtains better or similar terms elsewhere,
    but this is subject to certain conditions and entails various
    risks. Please see the section captioned &#147;Risk Factors&#148;
    beginning on page&#160;22.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with CPLP&#146;s agreement to acquire the dry
    cargo vessel Cape Agamemnon from Capital Maritime, CPLP entered
    into a commitment letter with a financial institution for a
    credit facility of $25&#160;million in order to partially
    finance the acquisition of the shares of the vessel owning
    company of the Cape Agamemnon from Capital Maritime. This credit
    facility is
    <FONT style="white-space: nowrap">non-amortizing</FONT>
    until March&#160;31, 2013 and will be repaid in twenty equal
    consecutive quarterly installments commencing in June 2013 plus
    a balloon payment in March 2018. Loan commitment fees will be
    calculated at 0.50% per annum on any undrawn amount and will be
    paid quarterly. This credit facility will contain customary ship
    finance covenants and will be secured and guaranteed by the
    vessel owning company of the Cape Agamemnon.
</DIV>

<A name='Y91492170'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Marshall
    Islands Tax Considerations</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following are the material Marshall Islands tax consequences
    of the proposed transaction, the operations of combined company,
    and the ownership and disposition of CPLP common units. Each of
    Crude and CPLP are incorporated in the Marshall Islands. Under
    current Marshall Islands law, no Marshall Islands withholding
    tax or income tax will be imposed on any of the combined
    company, Crude, CPLP, or their respective shareholders or
    unitholders as a result of the proposed transaction. In
    addition, the combined company will not be subject to tax in the
    Marshall Islands on income or capital gains, and no Marshall
    Islands
</DIV>
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    <BR>
    72
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    withholding tax or income tax will be imposed upon distributions
    by CPLP to unitholders who do not reside in the Marshall Islands
    or with respect to proceeds from the disposition of CPLP common
    units.
</DIV>

<A name='Y91492171'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Material
    United States Federal Income Tax Consequences to Crude
    Shareholders</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following is a summary of the material United States federal
    income tax consequences of the merger to holders of Crude common
    stock and of the ownership of CPLP common units received in the
    merger. The below discussion applies to you only if you exchange
    your shares of Crude common stock for CPLP common units in the
    merger and you hold your shares of Crude common stock and CPLP
    common units as capital assets for tax purposes. This section
    does not address any United States federal income tax
    considerations related to the Marshall Islands tax treatment of
    a holder in connection with the merger. This section does not
    apply to you if you are a member of a special class of holders
    subject to special rules, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a holder who acquired shares of Crude common stock pursuant to
    the exercise of employee stock options or otherwise as
    compensation,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a dealer in securities,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trader in securities that elects to use a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    method of accounting for securities holdings,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a tax-exempt organization,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a life insurance company,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a person liable for alternative minimum tax,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a person that, actually or constructively, owns or at any time
    owned 10% or more of the Crude common stock prior to the merger
    or that will own 5% or more of the CPLP common units after the
    merger,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a person that holds shares of Crude common stock or CPLP common
    units as part of a straddle or a hedging or conversion
    transaction,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a U.S.&#160;expatriate,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a U.S.&#160;Holder (as defined below) whose functional currency
    is not the U.S.&#160;dollar.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This section is based on the Code, its legislative history,
    existing and proposed regulations, and published rulings and
    court decisions, all as currently in effect. These laws are
    subject to change, possibly on a retroactive basis. CPLP and
    Crude have not and will not seek any rulings from the IRS
    regarding the matters discussed below. There can be no assurance
    that the IRS will not take positions concerning the tax
    consequences of the merger that are different from those
    discussed below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a partnership holds CPLP common units or shares of Crude
    common stock, the tax treatment of a partner will generally
    depend on the status of the partners and the tax treatment of
    the partnership. If you are a partner of a partnership holding
    CPLP common units or shares of Crude common stock, you should
    consult your tax advisors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of this discussion, the term
    &#147;U.S.&#160;Holder&#148; means a beneficial owner of shares
    of Crude common stock or CPLP common units, as relevant, that is:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an individual citizen or resident of the United States for
    United States federal income tax purposes,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a corporation (or other entity treated as a corporation for
    United States federal income tax purposes) created or organized
    in or under the laws of the United States, any U.S.&#160;state
    or the District of Columbia,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an estate the income of which is subject to United States
    federal income taxation regardless of its source,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trust which either (i)&#160;is subject to the primary
    supervision of a court within the United States and one or more
    United States persons have the authority to control all
    substantial decisions of the trust or
</TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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    <BR>
    73
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    (ii)&#160;has a valid election in effect under applicable United
    States Treasury regulations to be treated as a United States
    person.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A
    <FONT style="white-space: nowrap">&#147;Non-U.S.&#160;Holder&#148;</FONT>
    is a beneficial owner of shares of Crude common stock or CPLP
    common units (other than a partnership), as relevant, that is
    not a United States person for United States federal income tax
    purposes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>This discussion does not address tax consequences that may
    vary with, or are contingent on, individual circumstances.
    Moreover, it only addresses United States federal income tax and
    does not address any non-income tax or any foreign, state or
    local tax consequences. You should consult your own tax advisors
    concerning the United States federal income tax consequences of
    the merger and the ownership of CPLP common units in light of
    your particular situation, as well as any consequences arising
    under the laws of any other taxing jurisdiction.</I>
</DIV>

<A name='Y91492172'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Tax
    Characterization of CPLP and Crude</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has elected to be taxed as a corporation for United States
    federal income tax purposes. As such, among other consequences,
    U.S.&#160;Holders of CPLP common units will, subject to the
    discussion of certain rules relating to PFICs below (please see
    &#147;Ownership and Disposition of CPLP Common Units&#160;&#151;
    Certain PFIC Considerations Applicable to
    U.S.&#160;Holders&#148;), generally not be directly subject to
    United States federal income tax on CPLP&#146;s income, but
    rather will be subject to United States federal income tax on
    distributions received from CPLP and dispositions of CPLP common
    units, as described below. Additionally, distributions from CPLP
    to its common unitholders will generally be reported on Internal
    Revenue Service
    <FONT style="white-space: nowrap">Form&#160;1099-DIV.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude is a corporation for United States federal income tax
    purposes.
</DIV>

<A name='Y91492173'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    Merger</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">General
    Tax Consequences of the Merger</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger has been structured to qualify as a reorganization
    for United States federal income tax purposes, and it is a
    condition to CPLP&#146;s and Crude&#146;s obligations to
    complete the merger that CPLP receive a legal opinion from a
    nationally recognized law firm, which is expected to be Akin
    Gump Strauss Hauer&#160;&#038; Feld LLP, and Crude receive a
    legal opinion from Sullivan&#160;&#038; Cromwell LLP, to the
    effect that the merger should qualify as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code. These opinions will be based on
    assumptions, representations, warranties and covenants,
    including those contained in the merger agreement and in tax
    representation letters provided by CPLP and Crude. The accuracy
    of such assumptions, representations and warranties, and
    compliance with such covenants, could affect the conclusions set
    forth in such opinions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No ruling has been or will be sought from the IRS as to the
    United States federal income tax consequences of the merger, and
    the opinions of counsel described above are not binding upon the
    IRS or any court. Accordingly, there can be no assurances that
    the IRS will not disagree with or challenge any of the
    conclusions described herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The remainder of this discussion assumes that the merger will
    qualify as a reorganization within the meaning of
    Section&#160;368(a) of the Code.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the discussion of certain rules relating to PFICs
    below (please see &#147;Certain PFIC Considerations Related to
    the Merger&#148;), the following material United States federal
    income tax consequences will result from the merger:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A U.S.&#160;Holder will not recognize any gain or loss upon
    receipt of CPLP common units in exchange for shares of Crude
    common stock in the merger, except with respect to cash received
    in lieu of fractional CPLP common units;
</TD>
</TR>

</TABLE>
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    <BR>
    74
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A U.S.&#160;Holder&#146;s aggregate basis in the CPLP common
    units received in the merger (including any fractional shares
    deemed received and redeemed as described below) will be equal
    to the U.S.&#160;Holder&#146;s aggregate tax basis in the shares
    of Crude common stock surrendered;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A U.S.&#160;Holder&#146;s holding period for the shares of CPLP
    common units received in the merger (including any fractional
    shares deemed received and redeemed as described below) will
    include the U.S.&#160;Holder&#146;s holding period of the shares
    of Crude common stock surrendered.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Where different blocks of shares of Crude common stock were
    acquired at different times and at different prices, the tax
    basis and holding period of such shares of Crude common stock
    may be determined with reference to each block of shares of
    Crude common stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Cash in
    Lieu of Fractional Units</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A U.S.&#160;Holder of Crude common stock who receives cash in
    lieu of a fractional CPLP common unit in the merger generally
    will be treated as having received such fractional unit in the
    merger and then as having received cash in redemption of such
    fractional unit. Gain or loss generally will be recognized based
    on the difference between the amount of cash received in lieu of
    the fractional unit and the portion of the
    U.S.&#160;Holder&#146;s aggregate tax basis in the shares of
    Crude common stock surrendered which is allocable to the
    fractional unit. This gain or loss generally will be capital
    gain or loss, and long-term capital gain or loss if the holding
    period for the shares of Crude common stock is more than one
    year at the effective time of the merger. Long-term capital gain
    of non-corporate U.S.&#160;Holders that is recognized in taxable
    years beginning before January&#160;1, 2013 is generally taxed
    at a maximum rate of 15%. The deductibility of capital losses is
    subject to limitations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any gain realized by a
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    pursuant to the above paragraph generally will not be subject to
    United States federal income tax unless (i)&#160;the gain is
    &#147;effectively connected&#148; with the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder&#146;s</FONT>
    conduct of a trade or business in the United States, and the
    gain is attributable to a permanent establishment maintained by
    the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    in the United States if that is required by an applicable income
    tax treaty as a condition for subjecting the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    to U.S.&#160;taxation on a net income basis, or (ii)&#160;the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    is an individual and is present in the United States for 183 or
    more days in the taxable year of the sale and certain other
    conditions exist. &#147;Effectively connected&#148; gains
    recognized by a corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    may also, under certain circumstances, be subject to an
    additional &#147;branch profits tax&#148; at a 30% rate, or at a
    lower rate if the corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    is eligible for the benefits of an income tax treaty that
    provides for a lower rate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Certain
    PFIC Considerations Related to the Merger</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude believes that it has at no time been a PFIC.&#160;If you
    are a U.S.&#160;Holder of shares of Crude common stock, Crude
    would generally be a PFIC with respect to you if for any taxable
    year in which you held shares of Crude common stock:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    75% or more of its gross income for the taxable year consists of
    &#147;passive income&#148; (generally including dividends,
    interest, gains from the sale or exchange of investment property
    and rents and royalties other than rents and royalties which are
    received from unrelated parties in connection with the active
    conduct of a trade or business, as defined in applicable
    Treasury regulations);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    at least 50% of its assets for the taxable year (averaged over
    the year and generally determined based upon value) produce or
    are held for the production of passive income.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because the determination of whether a foreign corporation is a
    PFIC is primarily factual and, as described below in
    &#147;Ownership and Disposition of CPLP common units&#160;&#151;
    Certain PFIC Considerations, Applicable to
    U.S.&#160;Holders,&#148; there is little administrative or
    judicial authority on which to rely to make a determination, the
    IRS might not agree that Crude is not and never has been a PFIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If it was determined that Crude was a PFIC, then a
    U.S.&#160;Holder of shares of Crude common stock may be required
    to recognize gain as a result of the merger, notwithstanding
    that the merger qualifies as a
</DIV>
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    <BR>
    75
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    reorganization within the meaning of Section&#160;368(a) of the
    Code. In particular, Section&#160;1291(f) of the Code generally
    requires that, to the extent provided in regulations, a
    U.S.&#160;person who disposes of stock of a PFIC recognizes gain
    notwithstanding any other provision of the Code. No final
    Treasury regulations have been promulgated under this statute.
    Proposed Treasury regulations were promulgated in 1992 with a
    retroactive effective date. If finalized in their current form,
    these regulations would generally require gain recognition by
    U.S.&#160;persons exchanging shares in a corporation that is a
    PFIC at any time during such U.S.&#160;person&#146;s holding
    period of such shares where such person has not made either
    (i)&#160;a &#147;qualified electing fund&#148; election under
    Section&#160;1295 of the Code for the first taxable year in
    which such U.S.&#160;person owns such shares or in which the
    corporation is a PFIC, whichever is later or (ii)&#160;a
    <FONT style="white-space: nowrap">&#147;mark-to-market&#148;</FONT>
    election under Section&#160;1296 of the Code. There is an
    exception to this rule in certain instances where the exchanging
    shareholder receives shares of another corporation that is a
    PFIC, but, as described below in &#147;Ownership and Disposition
    of CPLP common units&#160;&#151; Certain PFIC Considerations
    Applicable to U.S.&#160;Holders,&#148; CPLP believes that it has
    not been and is not now a PFIC, and CPLP does not expect to
    become a PFIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The tax on any gain recognized pursuant to the above paragraph
    would be imposed at the rate applicable to ordinary income, and
    an interest charge would apply based on a complex set of
    computational rules designed to offset the tax deferral to such
    persons on undistributed earnings of the subject foreign
    corporation. CPLP and Crude are unable to predict at this time
    whether, in what form, and with what effective date, final
    Treasury regulations under Section&#160;1291(f) of the Code will
    be adopted, or how the proposed Treasury regulations will be
    applied.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Backup
    Withholding and Information Reporting on the Merger</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payments of cash made to a U.S.&#160;Holder in connection with
    the merger may be subject to information reporting and
    &#147;backup withholding&#148; at a rate of 28&#160;percent,
    unless the U.S.&#160;Holder of shares of Crude common stock:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provides a correct taxpayer identification number and any other
    required information to the exchange agent,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is a corporation or comes within certain exempt categories and
    otherwise complies with applicable requirements of the backup
    withholding rules.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Backup withholding does not constitute an additional tax, but
    merely an advance payment of tax, which may be refunded to the
    extent it results in an overpayment of tax if the required
    information is supplied to the IRS.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Reporting
    Requirements in Respect of the Merger</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A U.S.&#160;Holder of shares of Crude common stock who receives
    CPLP common units as a result of the merger will be required to
    retain records pertaining to the merger. Each U.S.&#160;Holder
    of shares of Crude common stock who is required to file a United
    States federal income tax return and who is a &#147;significant
    holder&#148; that receives CPLP common units in the merger will
    be required to file a statement with the holder&#146;s United
    States federal income tax return setting forth such
    holder&#146;s basis in the shares of Crude common stock
    surrendered and the fair market value of the CPLP common units
    and cash, if any, received in the merger. You are a
    &#147;significant holder&#148; of shares of Crude common stock
    if, immediately before the merger, you owned at least 5% (by
    vote or value) of the outstanding capital stock of Crude or you
    had an aggregate tax basis in securities of Crude of $1,000,000
    or more.
</DIV>

<A name='Y91492174'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Ownership
    and Disposition of CPLP Common Units</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Distributions to U.S. Holders</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the discussion of PFICs below, any distributions made
    by CPLP with respect to CPLP common units will generally
    constitute dividends to the extent of CPLP&#146;s current or
    accumulated earnings and profits, as determined under United
    States federal income tax principles.
</DIV>
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    <BR>
    76
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Distributions in excess of those earnings and profits will be
    treated first as a nontaxable return of capital to the extent of
    the U.S.&#160;Holder&#146;s tax basis in CPLP common units, and
    thereafter as capital gain. Because CPLP is a
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    for United Stated federal tax purposes, U.S.&#160;Holders that
    are corporations generally will not be entitled to claim a
    dividends-received deduction with respect to any distributions
    they receive from CPLP. Amounts taxable as dividends generally
    will be treated as income from sources outside the United States
    and will, depending on the U.S.&#160;Holder&#146;s
    circumstances, be &#147;passive&#148; or &#147;general&#148;
    income which, in either case, is treated separately from other
    types of income for purposes of computing the foreign tax credit
    allowable to the U.S.&#160;Holder. However, if (i)&#160;CPLP is
    50% or more owned, by vote or value, by United States persons
    and (ii)&#160;at least 10% of CPLP&#146;s earnings and profits
    are attributable to sources within the United States, then for
    foreign tax credit purposes, a portion of the dividends received
    by a U.S.&#160;Holder would be treated as derived from sources
    within the United States. With respect to any dividend paid for
    any taxable year, the United States source ratio of dividends
    for foreign tax credit purposes would be equal to the portion of
    CPLP&#146;s earnings and profits from sources within the United
    States for such taxable year, divided by the total amount of
    CPLP&#146;s earnings and profits for such taxable year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividends paid on CPLP common units to a U.S.&#160;Holder who is
    an individual, trust or estate (a &#147;U.S.&#160;Non-Corporate
    Holder&#148;) will generally be treated as &#147;qualified
    dividend income&#148; that is taxable to such
    U.S.&#160;Non-Corporate Holder at a maximum tax rate of 15% (for
    payments made in taxable years beginning before January&#160;1,
    2013), provided that (i)&#160;the CPLP common units are readily
    tradable on an established securities market in the United
    States (such as Nasdaq, on which CPLP&#146;s common units are
    traded); (ii)&#160;CPLP is not a PFIC for the taxable year
    during which the dividend is paid or the immediately preceding
    taxable year (as discussed below, CPLP believes that it has not
    been a PFIC, is not a PFIC, and will not become a PFIC);
    (iii)&#160;the U.S.&#160;Non-Corporate Holder&#146;s holding
    period of the CPLP common units includes more than 60&#160;days
    in the
    <FONT style="white-space: nowrap">121-day</FONT>
    period beginning 60&#160;days before the date on which the CPLP
    common units becomes ex-dividend; and (iv)&#160;the
    U.S.&#160;Non-Corporate Holder is not under an obligation to
    make related payments with respect to positions in substantially
    similar or related property. Any dividends CPLP pays out of its
    earnings and profits which are not eligible for these
    preferential rates will be taxed as ordinary income to a
    U.S.&#160;Non-Corporate Holder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Special rules may apply to any &#147;extraordinary
    dividend&#145;&#160;&#151; generally, a dividend in an amount
    which is equal to or in excess of 10% of a shareholder&#146;s
    adjusted basis (or fair market value in certain circumstances)
    in a CPLP common unit&#160;&#151; paid by CPLP. If CPLP pays an
    &#147;extraordinary dividend&#148; on its common units that is
    treated as &#147;qualified dividend income,&#148; then any loss
    derived by a U.S.&#160;Non-Corporate Holder from the sale or
    exchange of such common units will be treated as long-term
    capital loss to the extent of such dividend.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Distributions to
    <FONT style="white-space: nowrap">Non-U.S.</FONT>
    Holders</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividends paid to a
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    in respect of CPLP common units will not be subject to United
    States federal income tax unless the dividends are
    &#147;effectively connected&#148; with the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder&#146;s</FONT>
    conduct of a trade or business within the United States and the
    dividends are attributable to a permanent establishment or fixed
    base maintained by the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    in the United States if that is required by an applicable income
    tax treaty as a condition for subjecting the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    to U.S.&#160;taxation on a net income basis. In such cases, the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    generally will be taxed in the same manner as a
    U.S.&#160;Holder. &#147;Effectively connected&#148; dividends
    recognized by a corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    may also, under certain circumstances, be subject to an
    additional &#147;branch profits tax&#148; at a 30% rate, or at a
    lower rate if the corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    is eligible for the benefits of an income tax treaty that
    provides for a lower rate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Disposition of CPLP Common Units by U.S. Holders</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the discussion of PFICs below, a U.S.&#160;Holder who
    sells or otherwise disposes of its CPLP common units will
    recognize capital gain or loss for United States federal income
    tax purposes equal to the difference between the amount that is
    realized and the U.S.&#160;Holder&#146;s tax basis in the common
    units. Capital gain of a U.S.&#160;Non-Corporate Holder that is
    recognized in taxable years beginning before January&#160;1,
    2013 is generally taxed at a maximum rate of 15% where the
    holder has a holding period greater than one year and is
    otherwise expected to be taxed at preferential rates. The gain
    or loss will generally be income or loss from
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    sources within the United States for foreign tax credit
    limitation purposes. The ability to deduct capital losses is
    subject to certain limitations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Disposition of CPLP Common Units by
    <FONT style="white-space: nowrap">Non-U.S.</FONT>
    Holders</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    will not be subject to United States federal income tax on gain
    recognized on the sale or other disposition of your CPLP common
    units unless (i)&#160;the gain is &#147;effectively
    connected&#148; with the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder&#146;s</FONT>
    conduct of a trade or business in the United States, and the
    gain is attributable to a permanent establishment maintained by
    the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    in the United States if that is required by an applicable income
    tax treaty as a condition for subjecting the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    to U.S.&#160;taxation on a net income basis, or (ii)&#160;the
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    is an individual and is present in the United States for 183 or
    more days in the taxable year of the sale and certain other
    conditions exist. &#147;Effectively connected&#148; gains
    recognized by a corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    may also, under certain circumstances, be subject to an
    additional &#147;branch profits tax&#148; at a 30% rate, or at a
    lower rate if the corporate
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder</FONT>
    is eligible for the benefits of an income tax treaty that
    provides for a lower rate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Certain
    PFIC Considerations Applicable to U.S. Holders</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP believes that it has not been and is not, for United States
    federal income tax purposes, a PFIC, and CPLP expects to operate
    in such a manner so as not to become a PFIC, but this conclusion
    is a factual determination that is made annually and thus may be
    subject to change. If CPLP is or becomes a PFIC, a
    U.S.&#160;Holder could be subject to additional United States
    federal income taxes on gains recognized with respect to CPLP
    common units and on certain distributions, plus an interest
    charge on certain taxes treated as having been deferred under
    the PFIC rules.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP will be a PFIC with respect to a U.S.&#160;Holder if, for
    any taxable year in which the U.S.&#160;Holder held CPLP common
    units, either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    75% or more of its gross income for the taxable year consists of
    &#147;passive income&#148; (generally including dividends,
    interest, gains from the sale or exchange of investment property
    and rents and royalties other than rents and royalties which are
    received from unrelated parties in connection with the active
    conduct of a trade or business, as defined in applicable
    Treasury regulations);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    at least 50% of its assets for the taxable year (averaged over
    the year and generally determined based upon value) produce or
    are held for the production of passive income.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of these tests, income derived from the performance
    of services does not constitute passive income. By contrast,
    rental income would generally constitute passive income unless
    CPLP is treated under specific rules as deriving its rental
    income in the active conduct of a trade or business. Based on
    CPLP&#146;s planned operations and future projections, CPLP
    believes that it will not be a PFIC with respect to any taxable
    year. In this regard, CPLP intends to treat its income from the
    spot charter and time charter of vessels as services income,
    rather than rental income. Accordingly, CPLP believes that such
    income does not constitute passive income, and that the assets
    that it owns and operates in connection with the production of
    that income, primarily certain of CPLP&#146;s vessels, do not
    constitute passive assets for purposes of determining whether
    CPLP is a PFIC, at least to the extent that they generate income
    that is not passive.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There is, however, no direct legal authority under the PFIC
    rules addressing CPLP&#146;s method of operation. Moreover, in a
    case not specifically interpreting the PFIC rules, <I>Tidewater
    Inc. </I>v. <I>United States</I>, 565 F.3d 299 (5th&#160;Cir.
    2009), the Fifth Circuit held that a vessel time charter at
    issue generated predominantly rental income rather than services
    income. However, the court&#146;s ruling was contrary to the
    position of the IRS that the time charter income should have
    been treated as services income. Additionally, the IRS recently
    affirmed its position in <I>Tidewater</I>, adding further that
    the vessel charters at issue would be treated as giving rise to
    services income under the PFIC rules.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No assurance, however, can be given that the IRS, or a court of
    law will accept CPLP&#146;s position, and there is a risk that
    the IRS or a court of law could determine that CPLP is or was a
    PFIC. Moreover, because there are uncertainties in the
    application of the PFIC rules, because the PFIC test is an
    annual test, and
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    because, although CPLP intends to manage its business so as to
    avoid PFIC status to the extent consistent with its other
    business goals, there could be changes in the nature and extent
    of CPLP&#146;s operations in future years, there can be no
    assurance that CPLP will not become a PFIC in any taxable year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If CPLP were to be treated as a PFIC for any taxable year (and
    regardless of whether CPLP remains a PFIC for subsequent taxable
    years), each U.S.&#160;Holder who is treated as owning CPLP
    common units for purposes of the PFIC rules would be liable to
    pay United States federal income tax at the highest applicable
    income tax rates on ordinary income upon the receipt of excess
    distributions (generally the portion of any distributions
    received by the U.S.&#160;Holder on CPLP common units in a
    taxable year in excess of 125&#160;percent of the average annual
    distributions received by the U.S.&#160;Holder in the three
    preceding taxable years or, if shorter, the
    U.S.&#160;Holder&#146;s holding period for the CPLP common
    units) and on any gain from the disposition of CPLP common
    units, plus interest on such amounts, as if such excess
    distributions or gain had been recognized ratably over the
    U.S.&#160;Holder&#146;s holding period of the CPLP common units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The above rules relating to the taxation of excess distributions
    and dispositions will not apply to a U.S.&#160;Holder who has
    made a timely &#147;qualified electing fund&#148;
    (&#147;QEF&#148;) election. Instead, each U.S.&#160;Holder who
    has made a timely QEF election is required for each taxable year
    to include in income a pro rata share of CPLP&#146;s ordinary
    earnings as ordinary income and a pro rata share of CPLP&#146;s
    net capital gain as long-term capital gain, regardless of
    whether CPLP has made any distributions of the earnings or gain.
    The U.S.&#160;Holder&#146;s basis in CPLP common units will be
    increased to reflect taxed but undistributed income.
    Distributions of income that had been previously taxed will
    result in a corresponding reduction in the basis of the CPLP
    common units and will not be taxed again once distributed. A
    U.S.&#160;Holder making a QEF election would generally recognize
    capital gain or loss on the sale, exchange or other disposition
    of CPLP common units. If CPLP determines that it is a PFIC for
    any taxable year, CPLP will provide U.S.&#160;Holders with such
    information as may be required to make a QEF election effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Alternatively, if CPLP were to be treated as a PFIC for any
    taxable year and provided that CPLP&#146;s common units are
    treated as &#147;marketable,&#148; which CPLP believes will be
    the case, a U.S.&#160;Holder may make a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election. Under a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election, any excess of the fair market value of the CPLP common
    units at the close of any taxable year over the
    U.S.&#160;Holder&#146;s adjusted tax basis in the CPLP common
    units is included in the U.S.&#160;Holder&#146;s income as
    ordinary income. These amounts of ordinary income will not be
    eligible for the favorable tax rates applicable to qualified
    dividend income or long-term capital gains. In addition, the
    excess, if any, of the U.S.&#160;Holder&#146;s adjusted tax
    basis at the close of any taxable year over the fair market
    value of the CPLP common units is deductible in an amount equal
    to the lesser of the amount of the excess or the amount of the
    net
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    gains that the U.S.&#160;Holder included in income in prior
    years. A U.S.&#160;Holder&#146;s tax basis in CPLP common units
    would be adjusted to reflect any such income or loss. Gain
    realized on the sale, exchange or other disposition of CPLP
    common units would be treated as ordinary income, and any loss
    realized on the sale, exchange or other disposition of CPLP
    common units would be treated as ordinary loss to the extent
    that such loss does not exceed the net
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    gains previously included by the U.S.&#160;Holder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A U.S.&#160;Holder who holds CPLP common units during a period
    when CPLP is a PFIC generally will be subject to the foregoing
    rules for that taxable year and all subsequent taxable years
    with respect to that U.S.&#160;Holder&#146;s holding of CPLP
    common units, even if CPLP ceases to be a PFIC, subject to
    certain exceptions for U.S.&#160;Holders who made a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    or QEF election. U.S.&#160;Holders are urged to consult their
    tax advisors regarding the PFIC rules, including as to the
    advisability of choosing to make a QEF or
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election.
</DIV>

<A name='Y91492175'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Medicare
    Tax</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For taxable years beginning after December&#160;31, 2012, a
    U.S.&#160;person that is an individual or estate, or a trust
    that does not fall into a special class of trusts that is exempt
    from such tax, will be subject to a 3.8% tax on the lesser of
    (i)&#160;the U.S.&#160;person&#146;s &#147;net investment
    income&#148; for the relevant taxable year and (ii)&#160;the
    excess of the U.S.&#160;person&#146;s modified adjusted gross
    income for the taxable year over a certain threshold (which in
    the case of individuals will be between $125,000 and $250,000,
    depending on the individual&#146;s circumstances). A
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    79
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    holder&#146;s net investment income will generally include its
    dividend income and its net gains from the disposition of shares
    of CPLP common units, unless such dividend income or net gains
    are derived in the ordinary course of the conduct of a trade or
    business (other than a trade or business that consists of
    certain passive or trading activities). If you are a
    U.S.&#160;Holder that is an individual, estate or trust, you are
    urged to consult your tax advisors regarding the applicability
    of the Medicare tax to your income and gains in respect of your
    investment in CPLP common units.
</DIV>

<A name='Y91492176'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Backup
    Withholding and Information Reporting</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you are a Non-Corporate U.S.&#160;Holder, information
    reporting requirements, on IRS Form&#160;1099, generally will
    apply to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    dividend payments or other taxable distributions made to you
    within the United States,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the payment of proceeds to you from the sale of CPLP common
    units effected at a U.S.&#160;office of a broker.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Additionally, backup withholding may apply to such payments if
    you are a Non-Corporate U.S.&#160;Holder that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fails to provide an accurate taxpayer identification number,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is notified by the IRS that you have failed to report all
    interest and dividends required to be shown on your federal
    income tax returns,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in certain circumstances, fails to comply with applicable
    certification requirements.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you are a
    <FONT style="white-space: nowrap">Non-U.S.&#160;Holder,</FONT>
    you are generally exempt from backup withholding and information
    reporting requirements with respect to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    dividend payments made to you outside the United States by CPLP
    or another
    <FONT style="white-space: nowrap">non-U.S.&#160;payor,&#160;and</FONT>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other dividend payments and the payment of the proceeds from the
    sale of CPLP common units effected at a U.S.&#160;office of a
    broker, as long as the income associated with such payments is
    otherwise exempt from United States federal income tax, and:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the payor or broker does not have actual knowledge or reason to
    know that you are a U.S.&#160;person and you have furnished the
    payor or broker:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    or an acceptable substitute form upon which you certify, under
    penalties of perjury, that you are a
    <FONT style="white-space: nowrap">non-United</FONT>
    States person,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other documentation upon which it may rely to treat the payments
    as made to a
    <FONT style="white-space: nowrap">non-United</FONT>
    States person in accordance with U.S.&#160;Treasury
    regulations,&#160;or
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you otherwise establish an exemption.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payment of the proceeds from the sale of CPLP common units
    effected at a foreign office of a broker generally will not be
    subject to information reporting or backup withholding. However,
    a sale of CPLP common units that is effected at a foreign office
    of a broker will be subject to information reporting and backup
    withholding if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the proceeds are transferred to an account maintained by you in
    the United States,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the payment of proceeds or the confirmation of the sale is
    mailed to you at a U.S.&#160;address,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the sale has some other specified connection with the United
    States as provided in U.S.&#160;Treasury regulations,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    unless the broker does not have actual knowledge or reason to
    know that you are a United States person and the documentation
    requirements described above are met or you otherwise establish
    an exemption.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    80
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, a sale of CPLP common units effected at a foreign
    office of a broker will be subject to information reporting if
    the broker is:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a U.S.&#160;person,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a controlled foreign corporation for U.S.&#160;tax purposes,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a foreign person 50% or more of whose gross income is
    effectively connected with the conduct of a U.S.&#160;trade or
    business for a specified three-year period,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a foreign partnership, if at any time during its tax year:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    one or more of its partners are &#147;U.S.&#160;persons,&#148;
    as defined in United States Treasury regulations, who in the
    aggregate hold more than 50% of the income or capital interest
    in the partnership,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    such foreign partnership is engaged in the conduct of a
    U.S.&#160;trade or business,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    unless the broker does not have actual knowledge or reason to
    know that you are a United States person and the documentation
    requirements described above are met or you otherwise establish
    an exemption. Backup withholding will apply if the sale is
    subject to information reporting and the broker has actual
    knowledge that you are a U.S.&#160;person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You generally may obtain a refund of any amounts withheld under
    the backup withholding rules that exceed your income tax
    liability by filing a refund claim with the IRS.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Information
    with Respect to Foreign Financial Assets</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under recently enacted legislation, individuals that own
    &#147;specified foreign financial assets&#148; with an aggregate
    value in excess of $50,000 are generally required to file an
    information report with respect to such assets with their tax
    returns. &#147;Specified foreign financial assets&#148; include
    any financial accounts maintained by foreign financial
    institutions, as well as any of the following, but only if they
    are not held in accounts maintained by financial institutions:
    (i)&#160;stocks and securities issued by
    <FONT style="white-space: nowrap">non-U.S.&#160;persons,</FONT>
    (ii)&#160;financial instruments and contracts held for
    investment that have
    <FONT style="white-space: nowrap">non-U.S.&#160;issuers</FONT>
    or counterparties, and (iii)&#160;interests in foreign entities.
    U.S.&#160;Holders that are individuals are urged to consult
    their tax advisors regarding the application of this legislation.
</DIV>

<A name='Y91492177'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">United
    States Federal Income Tax Considerations Relating to
    CPLP</FONT></I></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Election
    to be Taxed as a Corporation</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has elected to be taxed as a corporation for United States
    federal income tax purposes. As such, among other consequences,
    U.S.&#160;Holders will not directly be subject to United States
    federal income tax on CPLP&#146;s income, but rather will be
    subject to United States federal income tax on distributions
    received from CPLP and dispositions of common units as described
    above. As a corporation for United States federal income tax
    purposes, CPLP may be subject to United States federal income
    tax on its income, as discussed below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Operating Income</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP expects that substantially all of its gross income will
    continue to be attributable to the transportation of crude oil
    and related oil products. For this purpose, gross income
    attributable to transportation (or &#147;Transportation
    Income&#148;) includes income derived from, or in connection
    with, the use (or hiring or leasing for use) of a vessel to
    transport cargo, or the performance of services directly related
    to the use of any vessel to transport cargo, and thus includes
    spot charter, time charter and bareboat charter income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Transportation Income that is attributable to transportation
    that begins or ends, but that does not both begin and end, in
    the United States (or &#147;U.S.&#160;Source International
    Transportation Income&#148;) will be considered to be 50%
    derived from sources within the United States. Transportation
    Income attributable to transportation that both begins and ends
    in the United States (or &#147;U.S.&#160;Source Domestic
    Transportation Income&#148;) will be considered to be 100%
    derived from sources within the United States. Transportation
    Income attributable to
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    transportation exclusively between
    <FONT style="white-space: nowrap">non-U.S.&#160;destinations</FONT>
    will be considered to be 100% derived from sources outside the
    United States. Transportation Income derived from sources
    outside the United States generally will not be subject to
    United States federal income tax.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on current operations and also due to prohibitions under
    U.S.&#160;law, CPLP does not expect to have U.S.&#160;Source
    Domestic Transportation Income. However, certain of CPLP&#146;s
    activities give rise to U.S.&#160;Source International
    Transportation Income, and future expansion of its operations
    could result in an increase in the amount of U.S.&#160;Source
    International Transportation Income, as well as give rise to
    U.S.&#160;Source Domestic Transportation Income, all of which
    could be subject to U.S.&#160;federal income taxation unless
    exempt from U.S.&#160;taxation under Section&#160;883 of the
    Code (or the &#147;Section&#160;883 Exemption&#148;), as
    discussed below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">The
    Section&#160;883 Exemption and the Taxation of Operating
    Income</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In general, the Section&#160;883 Exemption provides that if a
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    satisfies the requirements of Section&#160;883 of the Code and
    the Treasury Regulations thereunder (the &#147;Section&#160;883
    Regulations&#148;), it will not be subject to the net basis and
    branch profits taxes or the 4% gross basis tax described below
    on its U.S.&#160;Source International Transportation Income. The
    Section&#160;883 Exemption only applies to U.S.&#160;Source
    International Transportation Income. As discussed below, CPLP
    believes that under its current ownership structure, the
    Section&#160;883 Exemption will apply and that, accordingly, it
    will not be taxed on its U.S.&#160;Source International
    Transportation Income. The Section&#160;883 Exemption does not
    apply to U.S.&#160;Source Domestic Transportation Income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP will qualify for the Section&#160;883 Exemption if, among
    other matters, the following three requirements are met:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP is organized in a jurisdiction outside the United States
    that grants an equivalent exemption from tax to corporations
    organized in the United States (an &#147;Equivalent
    Exemption&#148;);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP satisfies the &#147;Publicly Traded Test&#148; (as
    described below);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP meets certain substantiation, reporting and other
    requirements.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Publicly Traded Test requires that one or more classes of
    equity representing more than 50% of the voting power and value
    in a
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    be &#147;primarily and regularly traded&#148; on an established
    securities market either in the United States or in a
    jurisdiction outside the United States that grants an Equivalent
    Exemption. The Section&#160;883 Regulations provide, in
    pertinent part, that equity interests in a
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    will be considered to be &#147;primarily traded&#148; on an
    established securities market in a given country if the number
    of units of each class of equity that are traded during any
    taxable year on all established securities markets in that
    country exceeds the number of units in each such class that are
    traded during that year on established securities markets in any
    other single country. Equity of a
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    will be considered to be &#147;regularly traded&#148; on an
    established securities market under the Section&#160;883
    Regulations if one or more classes of equity of the corporation
    that, in the aggregate, represent more than 50% of the combined
    vote and value of the
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    are listed on such market and certain trading volume
    requirements are met or deemed met as described below. For this
    purpose, if one or more &#147;5% Unitholders&#148; (i.e., a
    holder of common units holding, actually or constructively, at
    least 5% of the vote and value of a class of equity) own in the
    aggregate 50% or more of the vote and value of a class of equity
    (the &#147;Closely Held Block&#148;), such class of equity will
    not be treated as primarily and regularly traded on an
    established securities market (the &#147;Closely Held Block
    Exception&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP is organized under the laws of the Republic of the Marshall
    Islands. The U.S.&#160;Treasury Department has recognized the
    Republic of the Marshall Islands as a jurisdiction that grants
    an Equivalent Exemption. Consequently, CPLP&#146;s
    U.S.&#160;Source International Transportation Income (including,
    for this purpose, (i)&#160;any such income earned by
    subsidiaries that have properly elected to be treated as
    partnerships or disregarded as entities separate from CPLP for
    United States federal income tax purposes and (ii)&#160;any such
    income earned by subsidiaries that are corporations for United
    States federal income tax purposes, are organized in a
    jurisdiction that grants an Equivalent Exemption and whose
    outstanding stock is owned 50% or more by value by CPLP) will be
    exempt from United States federal income taxation provided CPLP
    meets the Publicly Traded Test.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP&#146;s common units are listed exclusively on the Nasdaq
    Global Market, and based on past trading patterns, CPLP believes
    that its common units have been and are &#147;primarily
    traded&#148; on established securities markets within the United
    States.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP believes that it meets the trading volume requirements of
    the Section&#160;883 Exemption. The pertinent regulations
    provide that trading volume requirements will be deemed to be
    met with respect to a class of equity traded on an established
    securities market in the United States where the subject equity
    is regularly quoted by dealers who regularly and actively make
    offers, purchases and sales of such units to unrelated persons
    in the ordinary course of business, and CPLP believes that such
    conditions will exist for the CPLP common units. Additionally,
    the pertinent regulations also provide that a class of equity
    will be considered to be &#147;regularly traded&#148; on an
    established securities market if (i)&#160;such class of stock is
    listed on such market, (ii)&#160;such class of stock is traded
    on such market, other than in minimal quantities, on at least
    60&#160;days during the taxable year or one sixth of the days in
    a short taxable year, and (iii)&#160;the aggregate number of
    shares of such class of stock traded on such market during the
    taxable year is at least 10% of the average number of shares of
    such class of stock outstanding during such year, or as
    appropriately adjusted in the case of a short taxable year. CPLP
    believes that trading of the common units has satisfied these
    conditions in the past, and expects that such conditions will
    continue to be satisfied. Finally, CPLP believes that its common
    units represent more than 50% of its voting power and value and
    accordingly believes that the common units should be considered
    to be &#147;regularly traded&#148; on an established securities
    market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    These conclusions, however, are based upon legal authorities
    that do not expressly contemplate an organizational structure
    such as CPLP&#146;s. In particular, although CPLP has elected to
    be treated as a corporation for United States federal income tax
    purposes, for corporate law purposes, CPLP is organized as a
    limited partnership under Marshall Islands law and CPLP&#146;s
    general partner is responsible for managing CPLP&#146;s business
    and affairs and has been granted certain veto rights over
    decisions of the CPLP Board. Accordingly, it is possible that
    the IRS could assert that the common units do not meet the
    &#147;regularly traded&#148; test.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP expects that the common units will not lose eligibility for
    the Section&#160;883 Exemption as a result of the Closely Held
    Block Exception, because the CPLP partnership agreement provides
    that the voting rights of any 5% Unitholders (other than
    CPLP&#146;s general partner and its affiliates, their
    transferees and persons who acquired such common units with the
    approval of the CPLP board of directors) are limited to a 4.9%
    voting interest in CPLP regardless of how many units are held by
    that 5% Unitholder. (The voting rights of any such Unitholders
    in excess of 4.9% will be redistributed pro rata among the other
    common unitholders holding less than 4.9% of the voting power of
    all classes of units entitled to vote). If Capital Maritime and
    CPLP&#146;s general partner own 50% or more of the common units,
    they will provide the necessary documents to establish an
    exception to the application of the Closely Held Block
    Exception. This exception is available when shareholders
    residing in a jurisdiction granting an Equivalent Exemption and
    meeting certain other requirements own sufficient shares in the
    Closely Held Block to preclude shareholders who have not met
    such requirements from owning 50% or more of the outstanding
    class of equity relied upon to satisfy the Publicly Traded Test.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Thus, although the matter is not free from doubt, CPLP believes
    that it will satisfy the Publicly Traded Test. Should any of the
    facts described above cease to be correct, CPLP&#146;s ability
    to satisfy the Publicly Traded Test will be compromised.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Operating Income in the Absence of the Section&#160;883
    Exemption</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the Section&#160;883 Exemption does not apply, CPLP would be
    subject to a 4% tax on 50% of its gross U.S.&#160;Source
    International Transportation Income, without benefit of
    deductions, unless such income is treated as effectively
    connected with the conduct of a trade or business in the United
    States (&#147;Effectively Connected Income&#148;), as described
    below. CPLP does not currently anticipate that a significant
    portion of its shipping income will be U.S.&#160;Source
    International Transportation Income, though there can be no
    assurance in this regard.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP&#146;s U.S.&#160;Source International Transportation Income
    would be treated as Effectively Connected Income if
    (i)&#160;CPLP has a fixed place of business in the United States
    and (ii)&#160;substantially all of its U.S.&#160;Source
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    International Transportation Income is attributable to regularly
    scheduled transportation or, in the case of bareboat charter
    income, is attributable to a fixed place of business in the
    United States. Based on current operations, CPLP believes that
    none of its potential U.S.&#160;Source International
    Transportation Income is attributable to regularly scheduled
    transportation or is received pursuant to bareboat charters
    attributable to a fixed place of business in the United States.
    As a result, CPLP does not anticipate that any of its
    U.S.&#160;Source International Transportation Income will be
    treated as Effectively Connected Income. However, there is no
    assurance that CPLP will not earn income pursuant to regularly
    scheduled transportation or bareboat charters attributable to a
    fixed place of business in the United States in the future,
    which would result in such income being treated as Effectively
    Connected Income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any income that CPLP earns that is treated as Effectively
    Connected Income would be subject to United States federal
    corporate income tax (the highest statutory rate is currently
    35%). In addition, a 30% branch profits tax imposed under
    Section&#160;884 of the Code also could apply to such income,
    and a branch interest tax could be imposed on certain interest
    paid or deemed paid by CPLP.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Gain on the Sale of Vessel</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Provided CPLP qualifies for the Section&#160;883 Exemption, gain
    from the sale of a vessel likewise should be exempt from tax
    under Section&#160;883. If, however, CPLP does not qualify for
    the Section&#160;883 Exemption, then such gain could be treated
    as effectively connected income (determined under rules
    different from those discussed above) and subject to the net
    income and branch profits tax regime described above.
</DIV>

<A name='Y91492178'>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Accounting
    Treatment</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP intends to account for the merger as an acquisition of
    Crude in accordance with generally accepted accounting
    principles in the United States applicable to business
    combinations. Crude will be treated as the acquired entity for
    such purposes. Accordingly, the aggregate fair value of the
    consideration transferred by CPLP in connection with the merger
    will be allocated to Crude&#146;s assets acquired and
    liabilities assumed based on their fair values as of the
    completion of the merger. If the fair value of Crude&#146;s net
    assets is in excess of the aggregate fair value of the
    consideration transferred by CPLP, the excess will be recorded
    as a gain from bargain purchase. If the fair value of
    Crude&#146;s net assets is less than the aggregate fair value of
    the consideration transferred by CPLP, the difference will be
    recorded as goodwill. The results of operations of Crude will be
    included in CPLP&#146;s consolidated results of operations only
    for periods subsequent to the completion of the merger.
</DIV>

<A name='Y91492179'>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Principal
    Corporate Offices</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    After completion of the proposed transaction, the combined
    company will maintain the headquarters and principal corporate
    offices of CPLP in Piraeus, Greece.
</DIV>

<A name='Y91492180'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Executive
    Compensation Arrangements</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    None.
</DIV>

<A name='Y91492181'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Treatment
    of Crude Unvested Shares in the Proposed Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has granted shares of Crude common stock subject to
    certain vesting requirements pursuant to the Crude Equity Plan,
    adopted March&#160;1, 2010. Except as described below, these
    grants will be converted into equivalent grants with respect to
    CPLP common units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All shares of Crude common stock and other compensatory awards
    denominated in shares of Crude common stock subject to a risk of
    forfeiture, or right of repurchase by Crude (the &#147;Crude
    Awards&#148;), will be converted to CPLP common units subject to
    a risk of forfeiture, or right of repurchase by CPLP, with the
    same terms and conditions as were applicable prior to such
    conversion (the &#147;CPLP Awards&#148;), except to the extent
    otherwise required by the terms of the Crude Awards or pursuant
    to the Crude Equity Plan. Upon conversion,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    each holder of Crude Awards will be entitled to receive a number
    of CPLP Awards equal to the product of (x)&#160;the Crude Awards
    held by such holder immediately prior to the effective time of
    the merger and (y)&#160;1.56.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon the effective time of the merger, the Crude Awards will be
    converted into equivalent CPLP Awards and all the terms of such
    awards will remain the same. Notwithstanding the foregoing, the
    transfer restrictions and forfeiture provisions relating to the
    Crude Awards held by those members of the Crude Independent
    Committee who are not designated by Crude to serve as a member
    of the CPLP Board (an aggregate of approximately
    20,000&#160;shares of Crude common stock or the right to receive
    approximately 31,200 CPLP common units), will lapse immediately
    prior to the effective time of the merger, and such Crude Awards
    will vest in full immediately prior to the effective time of the
    merger.
</DIV>

<A name='Y91492182'>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Resale of
    CPLP Common Units</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The issuance of the CPLP common units that Crude shareholders
    will receive in the proposed transaction will have been
    registered under the Securities Act. Therefore, these units may
    be traded in normal market and brokerage transactions by any
    Crude shareholders following the consummation of the proposed
    transaction as long as that person is not deemed to be an
    &#147;affiliate&#148; of either CPLP or Crude under the
    Securities Act. An &#147;affiliate,&#148; as defined by the
    rules promulgated under the Securities Act, is a person who,
    directly or indirectly, through one or more intermediaries,
    controls, or is controlled by, or is under common control with,
    CPLP or Crude. Persons who are affiliates of CPLP or Crude at
    the time the merger agreement is submitted to the vote of their
    respective shareholders may not sell their CPLP common units
    acquired in the proposed transaction except pursuant to an
    effective registration statement under the Securities Act, or
    pursuant to an applicable exemption from the registration
    requirements of the Securities Act, including Rules&#160;144 and
    145 promulgated by the SEC under the Securities Act. Affiliates
    generally include directors, executive officers and beneficial
    owners of 10% or more of any class of capital stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>This proxy statement/prospectus does not cover any resale of
    CPLP common units received in the proposed transaction by any
    person that may be deemed to be an affiliate of CPLP or
    Crude.</B>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    85
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492183'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS,<BR>
    DIRECTORS AND EXECUTIVE OFFICERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amounts and percentages of Crude common stock and Crude
    Class&#160;B stock and CPLP common units beneficially owned are
    reported on the basis of regulations of the SEC governing the
    determination of beneficial ownership of securities. Under the
    rules of the SEC, a person is deemed to be a &#147;beneficial
    owner&#148; of a security if that person has or shares
    &#147;voting power,&#148; which includes the power to vote or to
    direct the voting of that security, or &#147;investment
    power,&#148; which includes the power to dispose of or to direct
    the disposition of that security. A person is also deemed to be
    a beneficial owner of any securities as to which that person has
    a right to acquire beneficial ownership presently or within
    60&#160;days. Under these rules, more than one person may be
    deemed a beneficial owner of the same securities, and a person
    may be deemed to be the beneficial owner of securities as to
    which that person has no economic interest.
</DIV>

<A name='Y91492184'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Security
    Ownership of Certain Beneficial Owners, Directors and Executive
    Officers of Crude</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of March&#160;31, 2011, a total of 13,899,400&#160;shares of
    Crude common stock and 2,105,263&#160;shares of Crude
    Class&#160;B stock were outstanding. Each share of Crude common
    stock is entitled to one vote and each share of Crude
    Class&#160;B stock is entitled to ten votes on matters on which
    Crude common shareholders and Crude Class&#160;B shareholders,
    respectively, are eligible to vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth as of December&#160;31, 2010 the
    beneficial ownership of Crude common stock or Crude Class&#160;B
    stock by each person Crude knew that beneficially owned more
    than 5.0% of the outstanding shares of Crude common stock or
    Crude Class&#160;B stock, and all of Crude&#146;s directors and
    executive officers as a group. The number of shares beneficially
    owned by each person is determined under SEC rules and the
    information is not necessarily indicative of beneficial
    ownership for any other purpose.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="40%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Stock<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Class B Stock<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Class B<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>and Class B<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Beneficial Owner</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Owned</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock Owned</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Owned</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock Owned</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock Owned</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    All executive officers and directors as a group
    (10&#160;persons)(1)(2)(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    154,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.11
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.11
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Ameriprise Financial Inc. and Columbia Management Investment
    Advisers, LLC(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,615,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.62
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.09
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Bank of America Corporation, Bank of America, NA and Merrill
    Lynch, Pierce, Fenner&#160;&#038; Smith, Inc.(5)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,043,453
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.51
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.52
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    TIAA-CREF Investment Management LLC and Teachers Advisors,
    Inc.(6)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    906,928
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.52
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.67
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Other than Crude&#146;s Chairman, who owns 145,000&#160;shares
    of Crude common stock, representing a 1.04% ownership of Crude
    common stock, no member of the Crude Board nor any executive
    officers own shares of Crude common stock in a number
    representing more than 1.00% of the outstanding shares of Crude
    common stock.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The Marinakis family, including Crude&#146;s Chairman,
    Mr.&#160;Marinakis, through its ownership of CCIC, may be deemed
    to beneficially own, or to have beneficially owned, the Crude
    Class&#160;B stock held by CCIC. Mr.&#160;Marinakis also
    directly owns Crude common stock, as described in note (1).</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Shares of Crude common stock were issued to all members of the
    Crude Board and certain executive officers in August 2010 (March
    2011 in the case of one newly elected director at the time)
    under the terms of the Crude Equity Plan, which they may be
    deemed to beneficially own, or to have beneficially owned.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    This information is based on Amendment No.&#160;2 to the
    Schedule&#160;13G filed with the SEC jointly by Ameriprise
    Financial Inc. and Columbia Management Investment Advisers, LLC,
    on May&#160;10, 2011.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    86
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    This information is based on the Schedule&#160;13G filed with
    the SEC jointly by Bank of America Corporation, Bank of America,
    NA and Merrill Lynch, Pierce, Fenner&#160;&#038; Smith, Inc. on
    February&#160;14, 2011.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    This information is based on the Schedule&#160;13G filed with
    the SEC jointly by TIAA-CREF Investment Management LLC and
    Teachers Advisors, Inc. on February&#160;11, 2011.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders of shares of Crude common stock and Crude Class&#160;B
    stock have equivalent economic rights, but Crude common
    shareholders are entitled to one vote per share and Crude
    Class&#160;B shareholders are entitled to 10 votes per share.
    However, the voting power of the Crude Class&#160;B stock is
    limited to an aggregate maximum of 49% of the combined voting
    power of Crude common stock and Crude Class&#160;B stock. Except
    as otherwise provided by the MIBCA, holders of shares of Crude
    common stock and Crude Class&#160;B stock vote together as a
    single class on all matters submitted to a vote of shareholders,
    including the election of directors. In addition, if, at any
    time, any person or group other than CCIC owns beneficially 5%
    or more of the shares of Crude common stock then outstanding,
    then any shares of common stock owned by that person or group in
    excess of 4.9% may not be voted. The voting rights of any such
    shareholders in excess of 4.9% shall be redistributed pro rata
    among other holders of shares of Crude common stock holding less
    than 5.0% of the outstanding shares of Crude common stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Support
    Agreement</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;5, 2011, Evangelos M. Marinakis, Chairman of the
    Crude Board and CEO of Crude, Ioannis E. Lazaridis, President of
    Crude, Gerasimos G. Kalogiratos, CFO of Crude, and CCIC, holder
    of all of the outstanding shares of Crude Class&#160;B stock,
    entered into a support agreement pursuant to which they have
    agreed, subject to certain conditions, to vote their shares in
    favor of the merger.
</DIV>

<A name='Y91492185'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">REGULATORY
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No further regulatory filings or approvals will be required for
    the completion of the merger other than the filing of the merger
    agreement with the Republic of the Marshall Islands corporate
    registry upon approval of the Merger Proposal by Crude
    shareholders.
</DIV>

<A name='Y91492186'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    MERGER AGREEMENT</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following section summarizes material provisions of the
    merger agreement, which is included in this proxy
    statement/prospectus as Appendix&#160;A and is incorporated
    herein by reference in its entirety. Because the following is a
    summary, it does not contain all information that may be
    important to you. The rights and obligations of CPLP and Crude
    are governed by the express terms and conditions of the merger
    agreement and not by this summary or any other information
    contained in this proxy statement/prospectus. Crude shareholders
    are urged to read the merger agreement carefully and in its
    entirety as well as this proxy statement/prospectus before
    making any decisions regarding the merger, including the
    adoption of the merger agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement is included in this proxy
    statement/prospectus to provide you with information regarding
    its terms and is not intended to provide any factual information
    about CPLP or Crude. The merger agreement contains
    representations and warranties by each of the parties to the
    merger agreement. These representations and warranties have been
    made as of specific dates solely for the benefit of the other
    parties to the merger agreement and:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    may not be intended as statements of fact, but rather as a way
    of allocating the risk between the parties in the event the
    statements therein prove to be inaccurate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    have been qualified by certain disclosures that modify, qualify
    or create exceptions to such representations and warranties and
    that were made between the parties in connection with the
    negotiation of the merger agreement, which disclosures are not
    reflected in the merger agreement itself;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    may apply standards of materiality in a way that is different
    from what may be viewed as material by you or other investors.
</TD>
</TR>

</TABLE>
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    <BR>
    87
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Accordingly, the representations and warranties are not intended
    to provide you or other investors with any characterization of
    the actual state of facts and circumstances and should not be
    read alone, but instead, should be read together with the other
    provisions of the merger agreement, the information provided
    elsewhere in this proxy statement/prospectus and the information
    in the documents incorporated by reference into this proxy
    statement/prospectus. See the section captioned &#147;Where You
    Can Find More Information&#148; beginning on page&#160;125.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This summary is qualified in its entirety by reference to the
    merger agreement.
</DIV>

<A name='Y91492187'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Terms of
    the Merger; Merger Consideration</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides that, subject to the terms and
    conditions set forth in the merger agreement, at the effective
    time of the merger, MergerCo, a corporation organized under the
    laws of the Republic of the Marshall Islands and wholly-owned
    subsidiary of CPLP, will merge with and into Crude. Crude will
    be the surviving corporation in the merger and will become a
    wholly-owned subsidiary of CPLP. At the effective time of the
    merger, each outstanding share of Crude common stock and Crude
    Class&#160;B stock (other than shares of Crude common stock and
    Crude Class&#160;B stock owned by Crude, CPLP, Capital GP,
    MergerCo or their respective subsidiaries, which will be
    canceled and cease to exist) will be converted into the right to
    receive 1.56 CPLP common units, the Crude exchange ratio.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP will not issue fractions of CPLP common units pursuant to
    the merger agreement. Instead, each holder of Crude common stock
    or Crude Class&#160;B stock who otherwise would have been
    entitled to receive a fraction of a CPLP common unit upon
    exchange will receive in lieu thereof an amount in cash
    calculated by multiplying (i)&#160;the closing sale price of
    CPLP common units on the Nasdaq as reported by <I>The Wall
    Street Journal </I>on the trading day immediately preceding the
    date on which the effective time (as defined below) of the
    merger will occur and (ii)&#160;the fraction of a CPLP common
    unit to which such holder would otherwise be entitled to receive.
</DIV>

<A name='Y91492188'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Completion
    of the Merger</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless the parties agree otherwise in writing, the closing of
    the merger will take place on the third business day after all
    conditions to the completion of the merger have been satisfied
    or waived. The merger will be effective when the parties duly
    file the articles of merger with the Registrar or Deputy
    Registrar of Corporations in the Republic of the Marshall
    Islands, or at such later date and time as the parties agree and
    specify in the articles of merger (the &#147;effective
    time&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP and Crude currently expect the closing of the merger to
    occur in the third quarter of 2011. However, as the merger is
    subject to the satisfaction or waiver of other conditions
    described in the merger agreement, it is possible that factors
    outside the control of CPLP and Crude could result in the merger
    being completed at an earlier time, a later time or not at all.
</DIV>

<A name='Y91492189'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    of Shares in the Merger</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to the effective time, CPLP, subject to the reasonable
    approval by Crude, will select an exchange agent to handle the
    exchange of shares of Crude common stock and Crude Class&#160;B
    stock for CPLP common units or, if applicable, cash in lieu of
    fractional CPLP common units. At the effective time, shares of
    Crude common stock and Crude Class&#160;B stock will be
    converted into the right to receive CPLP common units or, if
    applicable, cash in lieu of fractional CPLP common units,
    without the need for any action by the holders of Crude common
    stock or Crude Class&#160;B stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As soon as reasonably practicable after the effective time, CPLP
    will instruct the exchange agent to send a letter of transmittal
    specifying, among other things, that, in respect of certificated
    shares, delivery will be effected, and risk of loss and title to
    any certificates representing Crude shares will pass, only upon
    proper delivery of such certificates to the exchange agent. The
    letter will also include instructions explaining the procedure
    for surrendering Crude stock certificates or book-entry shares
    in exchange for CPLP common units in book-entry form or, if
    applicable, cash in lieu of fractional CPLP common units.
</DIV>
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    <BR>
    88
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    After the effective time of the merger, shares of Crude common
    stock and Crude Class&#160;B stock will no longer be
    outstanding, will be automatically canceled and will cease to
    exist. Each certificate or book-entry share, as the case may be,
    that previously represented a share of Crude common stock or
    Crude Class&#160;B stock will represent only the right to
    receive dividends for periods prior to the effective time that
    were declared in accordance with the merger agreement, the
    merger consideration as described above, any cash in lieu of
    fractional CPLP common units and any dividends or distributions
    to which the holders of the certificates become entitled upon
    surrender of such certificates. With respect to such CPLP common
    units deliverable upon the surrender of Crude stock certificates
    or book-entry shares, until holders of such Crude stock
    certificates or book-entry shares have surrendered such stock
    certificates or book-entry shares to the exchange agent for
    exchange, those holders will not receive dividends or
    distributions with respect to such CPLP common units with a
    record date after the effective time.
</DIV>

<A name='Y91492190'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Treatment
    of Crude Equity Awards</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Stock-Based Awards.</I>&#160;&#160;Prior to the effective
    time, the Crude Board will adjust all outstanding Crude
    stock-based awards to provide that such awards will be converted
    into CPLP common units or other compensatory awards denominated
    in CPLP common units, with substantially the same terms and
    conditions as applicable under the Crude stock-based award. Each
    holder of a Crude stock-based award will be entitled to receive
    a number of stock-based awards denominated in CPLP units equal
    to the product of the number of stock-based awards held by such
    holder and the exchange ratio. Notwithstanding the foregoing,
    the transfer restrictions and forfeiture provisions relating to
    Crude stock-based awards granted to Crude&#146;s five
    independent directors (other than the director designated by
    Crude to serve on the CPLP Board) will lapse immediately prior
    to the effective time and vest in full immediately prior to the
    effective time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Crude&#146;s 2010 Equity Incentive Plan.</I>&#160;&#160;At
    the effective time, CPLP will assume all of Crude&#146;s
    obligations under the Crude Equity Plan, including each
    outstanding Crude stock-based award and the agreements
    evidencing the grants of such awards. As soon as practicable
    after the effective time, CPLP will deliver to holders of Crude
    stock-based awards notices setting forth such holders&#146;
    rights pursuant to the Crude Equity Plan, and the agreements
    evidencing grants of such awards will continue in effect on the
    same terms and conditions.
</DIV>

<A name='Y91492191'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Dissenters&#146;
    Rights</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.
</DIV>

<A name='Y91492192'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conduct
    of Business</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of CPLP and Crude has agreed to certain covenants in the
    merger agreement restricting the conduct of its business between
    the date of the merger agreement and the effective time. Among
    other things, each of CPLP and Crude has agreed to (i)&#160;not
    enter into a new material line of business that is not in the
    shipping industry, (ii)&#160;carry on its existing business in
    the ordinary course consistent with past practice and
    (iii)&#160;take no action that would reasonably be expected to
    prevent or materially delay or impede the consummation of the
    merger or result in a material violation of the merger agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, each of CPLP and Crude (except as noted below) has
    agreed to specific restrictions relating to the conduct of its
    business between the date of the merger agreement and the
    effective time, including, but
</DIV>
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    <BR>
    89
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    not limited to, the following (subject, in each case, to
    exceptions specified below and in the merger agreement or
    previously disclosed in writing to the other party as provided
    in the merger agreement):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    (i)&#160;declaring or paying any special or extraordinary
    distributions (in the case of CPLP only); (ii)&#160;splitting,
    combining or reclassifying its common stock, Class&#160;B stock
    or common units, as applicable; or (iii)&#160;repurchasing,
    redeeming or otherwise acquiring any of its equity securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    issuing, delivering, selling, pledging or otherwise disposing of
    its equity securities, other voting securities or equity
    interests;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    amending its charter, bylaws or equivalent organizational
    documents in a manner materially adverse to the equityholders of
    the other party;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    merging or consolidating, or selling all or substantially all of
    its assets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    making any change in financial or tax accounting methods, except
    as required by a change in GAAP;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    agreeing or committing to do any of the foregoing.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has agreed to several additional restrictions, including,
    but not limited to, the following (subject, in each case, to
    exceptions specified below and in the merger agreement or
    previously disclosed in writing to the other party as provided
    in the merger agreement):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    declaring or paying any dividend greater than a $0.25 per share
    dividend for each of the quarter ended March&#160;31, 2011 and
    the quarter ending June&#160;30, 2011 or any dividend for any
    period ending after June&#160;30, 2011;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    incurring or committing to any capital expenditures or any
    obligations or liabilities to unaffiliated third parties
    relating to the construction of any vessel, acquiring any
    vessel, or disposing of any vessel;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    incurring any indebtedness or becoming responsible for the
    indebtedness of another person, issuing or selling debt
    securities, or entering any agreement to maintain the financial
    condition of another person, except for (i)&#160;additional
    borrowings under existing loan agreements and refinancing or
    replacement of such agreements or obligations thereunder or
    (ii)&#160;borrowings of up to $2.0&#160;million principal amount
    of indebtedness under short-term facilities in the aggregate.
</TD>
</TR>

</TABLE>

<A name='Y91492193'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Representations
    and Warranties</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement contains reciprocal representations and
    warranties. Each of CPLP and Crude has made representations and
    warranties regarding, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    organization, standing, corporate power and subsidiaries;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    capital structure;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    authority with respect to the execution and delivery of the
    merger agreement and the due and valid execution, delivery and
    enforceability of the merger agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    absence of conflicts with, or violations of, organizational
    documents, other contracts and applicable laws;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    SEC documents, financial statements, internal controls and
    disclosure controls and procedures;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    status as a &#147;foreign private issuer&#148; (as defined in
    the Securities Act);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compliance with the Foreign Corrupt Practices Act;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    absence of undisclosed liabilities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    absence of certain changes and events from December&#160;31,
    2010 to the date of execution of the merger agreement;
</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    90
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    absence of certain litigation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compliance with applicable laws and permits;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    material contracts;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    maintenance of insurance;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    environmental matters;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    employee benefit plans;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    vessels, including flagging and chartering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    inapplicability of takeover laws and dissent rights (except for
    dissent rights available to holders of Crude Class&#160;B stock);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    opinions of financial advisors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    approvals of the committees of independent directors and boards
    of directors of CPLP and Crude;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    brokers&#146; fees payable in connection with the merger;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    tax matters;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    collective bargaining agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    regulation as an investment company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    export and sanctions laws;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    accuracy of information supplied or to be supplied for use in
    this proxy statement/prospectus.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement also contains certain representations and
    warranties of CPLP with respect to its wholly-owned subsidiary,
    MergerCo, including, without limitation, corporate organization,
    lack of prior business activities, capitalization and authority
    with respect to the execution and delivery of the merger
    agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Many of the representations and warranties in the merger
    agreement are qualified by a &#147;materiality&#148; or
    &#147;material adverse effect&#148; standard (that is, they will
    not be deemed to be untrue or incorrect unless their failure to
    be true or correct, individually or in the aggregate, would, as
    the case may be, be material or have a material adverse effect).
    For purposes of the merger agreement, a &#147;material adverse
    effect&#148; means, with respect to a party, any events,
    circumstances, changes, developments, violations, inaccuracies,
    effects or other matters that, individually or taken together,
    (i)&#160;are or could reasonably be expected to be materially
    adverse to the financial condition, results of operations,
    business, assets or properties of such party and its
    subsidiaries, taken as a whole, or (ii)&#160;materially impair
    or could reasonably be expected to materially impair the ability
    of such party to perform its respective obligations under the
    merger agreement or otherwise materially threaten or materially
    impede the consummation of the merger and the other transactions
    contemplated by the merger agreement, except that the definition
    of &#147;material adverse effect&#148; excludes the following or
    the impact thereof:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    circumstances affecting the shipping or shipbuilding and repair
    industries generally, or in any region in which such party
    operates (unless such condition is disproportionately adverse as
    compared to others in the shipping industry or geographic
    region);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any general market, economic, financial or political conditions,
    or outbreak or hostilities or war, in the United States or
    elsewhere (unless such condition is disproportionately adverse
    as compared to others in the shipping industry or geographic
    region);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in law or changes in GAAP (unless such condition is
    disproportionately adverse as compared to others in the shipping
    industry or geographic region);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    earthquakes, hurricanes, floods, volcanic eruptions or other
    natural disasters (unless such condition is disproportionately
    adverse as compared to others in the shipping industry or
    geographic region);
</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    91
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any failure of such party to meet any internal or external
    projections, forecasts or estimates of revenue or earnings for
    any period (however, any change or failure will not prevent or
    affect a determination that the event, circumstance, change,
    development, violation, inaccuracy, effect or other matter
    underlying such change or failure has resulted in, or
    contributed to, a material adverse effect);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the market price or trading volume of Crude common
    stock or CPLP common units (however, any change or failure will
    not prevent or affect a determination that the event,
    circumstance, change, development, violation, inaccuracy, effect
    or other matter underlying such change or failure has resulted
    in, or contributed to, a material adverse effect);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the entry into, announcement or pendency of the merger agreement
    or the matters contemplated by the merger agreement or the
    compliance by any party with the provisions of the merger
    agreement (other than with respect to an acquisition proposal or
    a company change in recommendation, both as defined below) or
    any action taken or omitted to be taken by the such party at the
    written request or with the prior written consent of the other
    party (except that this exclusion does not apply to that portion
    of any representation or warranty that expressly address the
    foregoing).
</TD>
</TR>

</TABLE>

<A name='Y91492194'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Efforts
    to Obtain Required Shareholder Votes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has agreed to hold a special meeting of its shareholders
    and to take all reasonable lawful action to solicit and obtain
    shareholder approval for the proposal to adopt the merger
    agreement. The merger agreement requires Crude to submit the
    merger agreement to a shareholder vote even if the Crude Board
    no longer recommends adoption of the merger agreement. Upon the
    recommendation by the Crude Independent Committee, the Crude
    Board has (i)&#160;determined that the merger agreement and the
    transactions contemplated thereby, including the merger, are
    fair and reasonable to, and in the best interests of, Crude and
    the Unaffiliated Shareholders, (ii)&#160;adopted and approved
    the merger agreement and the transactions contemplated thereby,
    including the merger and (iii)&#160;resolved to recommend to the
    Crude shareholders that they approve the merger agreement and
    the transactions contemplated thereby, including the merger (the
    &#147;company recommendation&#148;).
</DIV>

<A name='Y91492195'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Acquisition
    Proposals and a Company Change in Recommendation</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude and its subsidiaries will not, and will use their
    commercially reasonable best efforts to cause their various
    representatives not to, (i)&#160;initiate, solicit, facilitate
    or encourage any acquisition proposal (as defined below),
    (ii)&#160;participate in any discussions or negotiations
    regarding, or furnish to any person any non-public information
    regarding, any acquisition proposal or (iii)&#160;waive any
    &#147;standstill&#148; agreement. Crude may furnish information
    to, or enter into or participate in discussions or negotiations
    with, any person that makes an unsolicited written acquisition
    proposal if (i)&#160;the Crude Board, after consultation with
    its outside legal counsel and financial advisors, determines in
    good faith (A)&#160;that such acquisition proposal is likely to
    result in a superior proposal (as defined below) and
    (B)&#160;that failure to constitutes or take such action is
    inconsistent with the fiduciary duties of the Crude Board and
    (ii)&#160;prior to furnishing non-public information, Crude
    receives an executed confidentiality agreement from the
    receiving party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board may not (i)(A) withdraw, modify or qualify, in
    any manner adverse to CPLP, the company recommendation or
    (B)&#160;publicly approve or recommend any acquisition proposal
    (the actions in this clause&#160;(i) being referred to as a
    &#147;company change in recommendation&#148;) or
    (ii)&#160;approve, adopt or recommend, or allow Crude or any of
    its subsidiaries to execute or enter into, any agreement or any
    tender or exchange offer in connection with, any acquisition
    proposal. Notwithstanding the foregoing, at any time prior to
    obtaining Crude&#146;s shareholder approval, the Crude Board may
    (x)&#160;make a company change in recommendation or (y)&#160;in
    connection with a superior proposal, terminate the merger
    agreement if it has concluded in good faith, after consultation
    with its outside legal counsel and financial advisors, that
    failure to take such action would constitute or would be
    reasonably likely to constitute a violation of its fiduciary
    duties to the shareholders under applicable law. However, the
    Crude Board will not be entitled to make a company change in
    recommendation pursuant to the previous sentence (or to
    terminate the merger agreement in order to enter into a
    transaction that the Crude Board has determined is a superior
    proposal) unless Crude and its
</DIV>
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    <BR>
    92
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    subsidiaries: (i)&#160;complied in all material respects with
    their obligations regarding non-solicitation under the merger
    agreement, (ii)&#160;provided to CPLP and the Conflicts
    Committee of the CPLP Board three business days prior written
    notice (such notice being referred to as a &#147;notice of
    proposed recommendation change&#148;) advising CPLP that the
    Crude Board intends to take such action and specifying the
    reasons therefor in reasonable detail, including, if applicable,
    the terms and conditions of any purported superior proposal that
    is the basis of the proposed action and the identity of the
    person making the proposal and contemporaneously providing a
    copy of all relevant proposed transaction documents for such
    superior proposal (it being understood and agreed that any
    amendment to the terms of any such superior proposal will
    require a new notice of proposed recommendation change and an
    additional three business day period), (iii)&#160;during such
    period, Crude will negotiate in good faith with CPLP (to the
    extent that CPLP wishes to negotiate) to amend the merger
    agreement so that the Crude Board may proceed with the
    transactions contemplated by the merger agreement
    <FONT style="white-space: nowrap">and/or</FONT> the
    company recommendation and at the end of such period maintain
    the company recommendation (after taking into account any agreed
    modification to the terms of the merger agreement), in each case
    as applicable, and (iv)&#160;if applicable, provide to CPLP all
    materials and information delivered or made available to the
    person making any acquisition proposal in connection with such
    acquisition proposal (to the extent not previously provided).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the Crude Board undertakes a company change in
    recommendation, the board will nonetheless continue to be
    obligated to hold its shareholders meeting and submit the
    proposals described in this proxy statement/prospectus to its
    shareholders for their vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement requires Crude to notify CPLP within
    twenty-four hours of, among other things, the receipt of an
    acquisition proposal. Any such notification will include the
    material terms and conditions of such acquisition proposal
    (including any changes thereto) and identity of the person
    making the acquisition proposal. Crude must keep CPLP informed
    of any material developments regarding the acquisition proposal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An &#147;acquisition proposal&#148; means any proposal or offer
    from or by any person, whether in writing or otherwise, other
    than CPLP, Capital GP or MergerCo, relating to (i)&#160;any
    direct or indirect acquisition of (A)&#160;20% or more of the
    assets (including stock or equity interests of a subsidiary) of
    Crude and its subsidiaries, taken as a whole, (B)&#160;20% or
    more of the outstanding equity securities of Crude or (C)&#160;a
    business or businesses that constitute 20% or more of the cash
    flow, net revenues, net income or assets of Crude and its
    subsidiaries, taken as a whole; (ii)&#160;any tender offer or
    exchange offer, within the meaning of the Exchange Act, that, if
    consummated, would result in any person beneficially owning
    securities representing 20% or more of the total voting power of
    Crude; or (iii)&#160;any merger, consolidation, amalgamation
    business combination, recapitalization, liquidation, dissolution
    or similar transaction involving Crude or any significant Crude
    subsidiary, other than the merger, whether pursuant to a single
    transaction or a series of transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A &#147;superior proposal&#148; is any bona fide acquisition
    proposal (except that references to &#147;20% or more&#148;
    within the definition of &#147;acquisition proposal&#148; will
    be replaced by &#147;50% or more&#148;) made by a third party,
    that is not subject to a financing condition, on terms that the
    Crude Board determines, in its good faith judgment and after
    consulting with its financial advisor and outside legal counsel,
    and taking into account the financial, legal, regulatory and
    other aspects of the acquisition proposal (including, without
    limitation, any conditions to and the expected timing of
    consummation and any risks of non-consummation), to be more
    favorable to the holders of Crude common stock and Crude
    Class&#160;B stock, from a financial point of view, than the
    merger (taking into account any revised proposal by the CPLP
    Board on behalf of CPLP).
</DIV>

<A name='Y91492196'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Efforts
    to Complete the Merger</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP and Crude have each agreed to use commercially reasonable
    best efforts in good faith to take, or cause to be taken, all
    actions and to do, or cause to be done, all things necessary,
    proper, desirable or advisable under applicable law to permit
    consummation of the merger promptly and otherwise enable
    consummation of the transactions contemplated by the merger
    agreement, including obtaining any third-party approval, using
    commercially reasonable best efforts to lift or rescind any
    injunction or restraining order, defending any litigation
    seeking to enjoin, prevent or delay the merger or seeking
    material damages and cooperating fully with the other parties to
    that end.
</DIV>
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    <BR>
    93
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the foregoing, neither CPLP nor Crude is
    required under the merger agreement to take measures that would
    have a material adverse effect on the party and its
    subsidiaries, taken as a whole.
</DIV>

<A name='Y91492197'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Governance
    Matters after the Merger</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to the closing of the transactions contemplated by the
    merger agreement, Capital GP will cause the CPLP Partnership
    Agreement to be amended to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    modify the ability of Capital GP to acquire the remaining
    outstanding units of any class of CPLP units held by all
    unitholders other than Capital GP or its affiliates if Capital
    GP or its affiliates hold at least 80% of all such units in such
    class, so that such right is triggered at 90% instead of
    80%;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide that the CPLP Board will consist of eight members.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to the mailing of this proxy statement/prospectus, Crude
    has agreed to designate one member of the Crude Independent
    Committee to serve as a member of the CPLP Board following the
    effective time. The director so designated will serve as either
    a class&#160;I or class&#160;II director on the CPLP Board
    (whichever class would have a longer then-remaining term as of
    the effective time), and the CPLP Board will appoint such
    director to CPLP&#146;s audit committee and conflicts committee.
    All seven members of the CPLP Board serving immediately prior to
    the effective time will continue to serve as members of the CPLP
    Board.
</DIV>

<A name='Y91492198'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Other
    Covenants and Agreements</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement contains certain other covenants and
    agreements, including covenants relating to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cooperation between Crude and CPLP in the preparation of this
    proxy statement/prospectus;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cooperation between Crude and CPLP in connection with public
    announcements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    confidentiality and access by each party to certain information
    about the other party during the period prior to the effective
    time;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude&#146;s delivery of a list of &#147;affiliates&#148; under
    Rule&#160;145 of the Securities Act and its use of its
    commercially reasonable best efforts to cause such persons not
    to sell any securities received under the merger in violation of
    registration requirements of the Securities Act;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any action that would subject the transactions contemplated to
    the merger agreement to takeover laws;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s use of its commercially reasonable best effort to
    ensure that the CPLP common units to be issued in the merger are
    authorized for listing on the Nasdaq;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cooperation between Crude and CPLP to obtain all material
    consents and approvals necessary to consummate the merger;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each party&#146;s notification of the other party of facts and
    circumstances reasonably likely to result in a material adverse
    effect or material breach or failure of a condition of the
    merger agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude&#146;s consultation with Capital GP regarding the
    declaration and payment of distributions and dividends in
    respect of Crude common stock so that no applicable unitholder
    of CPLP will receive two distributions, or fail to receive on
    distribution, for a calendar quarter with respect to the merger
    consideration received by such shareholder;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    entry into an amended CPLP Omnibus Agreement to contain terms
    similar to Crude&#146;s business opportunities agreement,
    including the parties negotiation in good faith of reasonable
    time periods pursuant to which CPLP may elect to pursue certain
    business opportunities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each party&#146;s use of its commercially reasonable best
    efforts to cause the merger to qualify as a reorganization
    within the meaning of the Code;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    MergerCo&#146;s adoption of the merger agreement.
</TD>
</TR>

</TABLE>
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    <BR>
    94
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492199'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conditions
    to Completion of the Proposed Transaction</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The obligations of CPLP and Crude to complete the merger are
    subject to the satisfaction of certain conditions, including the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adoption of the merger agreement by the affirmative vote of
    (i)&#160;the holders of a majority of the voting power of
    outstanding shares of Crude common stock and Crude Class&#160;B
    stock, voting together as a class, (ii)&#160;the holders of a
    majority of the voting power of outstanding shares of Crude
    Class&#160;B stock, voting separately, and (iii)&#160;the
    holders of a majority of the voting power of the outstanding
    shares of Crude common stock that are held by the Unaffiliated
    Shareholders, voting separately;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all filings required to be made prior to the effective time, and
    all other consents, approvals, permits and authorizations
    required to be obtained prior to the effective time from any
    governmental authority in connection with the merger agreement
    shall have been made or obtained (except for any approvals the
    failure of which to obtain would not constitute a material
    adverse effect on Crude or CPLP);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    absence of any action, proceeding, investigation order, decree
    or injunction of any court or agency that enjoins, prohibits or
    makes illegal the consummation of the merger or the other
    transactions contemplated by the merger agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all consents shall have been obtained and are in full force and
    effect (except for any consent the failure of which to obtain
    would not constitute a material adverse effect on Crude or CPLP);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    effectiveness of the registration statement of which this proxy
    statement/prospectus forms a part and the absence of a stop
    order or proceedings threatened or initiated by the SEC for that
    purpose;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    receipt of tax opinions regarding the treatment of the merger as
    a &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    authorization for the listing on the Nasdaq of the CPLP common
    units to be issued to Crude shareholders pursuant to the merger,
    subject to official notice of issuance;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    effectiveness of the amendments to the CPLP Partnership
    Agreement and the CPLP Omnibus Agreement.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, each of CPLP&#146;s and Crude&#146;s obligations to
    effect the merger is subject to the satisfaction or waiver of
    the following additional conditions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    (i)&#160;the representations and warranties of the other party
    related to organization, standing and corporate power; capital
    structure; authority with respect to execution and delivery of
    the merger agreement; and absence of certain changes or events
    since December&#160;31, 2010 will be true and correct (other
    than any inaccuracies that are de minimis in the aggregate) as
    of the date of the merger agreement and as of the date of the
    closing of the transactions contemplated by the merger agreement
    as though made on and as of that date (except to the extent that
    such representations and warranties speak as of another date, in
    which case such representations and warranties shall be so true
    and correct as of such other date), and (ii)&#160;each of the
    other representations and warranties of such party set forth in
    the merger agreement (disregarding for this purpose all
    qualifications and exceptions contained therein relating to
    materiality or material adverse effect), shall be true and
    correct as of the date of the merger agreement and as of the
    date of the closing of the transactions contemplated by the
    merger agreement as though made on and as of that date (except
    to the extent that such representations and warranties speak as
    of another date, in which case such representations and
    warranties shall be so true and correct as of such other date),
    except as would not constitute a material adverse effect on such
    party;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of the agreements and covenants to be performed and
    complied with by the other party pursuant to the merger
    agreement has been performed and complied with in all material
    respects;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each party shall have received a certificate executed by the
    other party&#146;s chief executive officer as to the
    satisfaction of the conditions described in the preceding two
    bullets.
</TD>
</TR>

</TABLE>
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    <BR>
    95
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492200'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Termination
    of the Merger Agreement</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement may be terminated at any time prior to the
    effective time, even after the receipt of the required
    shareholder approvals, under the following circumstances:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by mutual written consent of Crude and CPLP;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by either Crude or CPLP upon written notice if:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the merger is not consummated by the termination date, provided
    that no party may terminate the merger agreement if such
    party&#146;s failure to fulfill any material obligation under
    the merger agreement or other material breach of the merger
    agreement has been the primary cause of, or resulted in, the
    failure to close by the termination date;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any governmental authority has issued a final, non-appealable
    order prohibiting the consummation of the merger or the merger
    becomes illegal, provided that the terminating party is not in
    breach of the merger agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Crude fails to obtain the requisite shareholder approvals,
    provided that, in the case of termination by Crude, Crude&#146;s
    material breach of the merger agreement did not cause the
    failure to obtain approval;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there is a material breach of or inaccuracy in any of the
    representations or warranties on the part of the other party
    that is not cured within 30&#160;days following written notice
    or cannot be cured and the terminating party is not then in
    material breach of any representation, warranty, covenant or
    other agreement contained in the merger agreement;
    <U>provided</U>, <U>however</U>, that no party will have the
    right to terminate the merger agreement pursuant to this section
    unless the breach or inaccuracy of a representation or warranty,
    together with all other such breaches or inaccuracies, would
    entitle the party receiving such representation not to
    consummate the transactions contemplated by the merger agreement
    due to a failure of a condition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there is a material breach of any covenant or agreement on the
    part of the other party that is not cured within 30&#160;days
    following written notice or cannot be cured and the terminating
    party is not then in material breach of any representation,
    warranty, covenant or other agreement contained in the merger
    agreement; <U>provided</U>, <U>however</U>, that no party will
    have the right to terminate the merger agreement pursuant to
    this section unless the breach of covenants or agreement,
    together with all other such breaches, would entitle the party
    receiving such representation not to consummate the transactions
    contemplated by the merger agreement due to a failure of a
    condition;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by CPLP, upon written notice to Crude, in the event of a company
    change in recommendation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by Crude, upon written notice to CPLP, if after the date of the
    merger agreement but prior to obtaining approval of the
    shareholders of Crude, Crude receives an acquisition proposal
    that it determines in good faith is a superior proposal and
    makes a company change in recommendation, Crude has not
    intentionally breached the non-solicitation covenant, and the
    Crude Board concurrently approves and Crude concurrently enters
    into a definitive agreement with respect to the superior
    proposal and pays the termination fee described in the section
    captioned &#147;Termination Fees and Reimbursement of
    Expenses&#148;;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by CPLP should any permanent injunction or court order
    (i)&#160;require or permit Crude, its subsidiaries or its
    representatives to act or fail to act in a manner that would, in
    the absence of the injunction or court order, constitute a
    material violation of the non-solicitation provision of the
    merger agreement or (ii)&#160;reduce or otherwise limit the
    rights of CPLP, Capital GP or MergerCo in any material respect
    under such non-solicitation provision.
</TD>
</TR>

</TABLE>

<A name='Y91492201'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Termination
    Fees and Reimbursement of Expenses</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each party will pay all costs and expenses incurred by it in
    connection with the merger and the other transactions
    contemplated by the merger agreement; <U>provided</U>,
    <U>however</U>, that CPLP will pay any and all
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    96
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    property or transfer taxes imposed on either party in connection
    with the merger, and the parties will share equally the fees and
    expenses in relation to the filing, printing and mailing of this
    proxy statement/prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger agreement is validly terminated, the merger
    agreement will become void and have no effect, without any
    liability or obligation on the part of any party, except as
    expressly set forth therein, and unless a party fraudulently or
    willfully breaches the merger agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude will be obligated to pay a termination fee of
    $9.0&#160;million, less previously paid expenses, to CPLP if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the merger agreement is terminated by CPLP because the Crude
    Board made a company change in recommendation or Crude
    terminates the agreement to enter into a definitive agreement
    with respect to a superior proposal;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    (i)&#160;an acquisition proposal is publicly proposed by any
    person and is not withdrawn prior to the termination of the
    merger agreement, (ii)&#160;thereafter the merger agreement is
    terminated by either Crude or CPLP because the termination date
    has passed, Crude fails to obtain shareholder approval, the
    other party materially breaches its representations and
    warranties or the other party materially breaches its covenants
    and agreements and (iii)&#160;within twelve months Crude enters
    into a definitive agreement relating to an acquisition proposal
    or consummates an acquisition proposal; <U>provided</U>,
    <U>however</U>, that the termination fee will be reduced by any
    expenses previously paid to CPLP.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger agreement is terminated by Crude because of
    CPLP&#146;s breach of its representations and warranties or
    covenants and agreements, CPLP will pay Crude the expenses of
    Crude incurred in connection with the merger, up to
    $3.0&#160;million. If the merger agreement is terminated by CPLP
    because of Crude&#146;s breach of its representations and
    warranties or covenants and agreements, Crude will pay CPLP the
    expenses of CPLP incurred in connection with the merger, up to
    $3.0&#160;million.
</DIV>

<A name='Y91492202'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Waiver;
    Amendment</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to the closing of the transactions contemplated by the
    merger agreement, any provision of the merger agreement may be
    (i)&#160;waived in writing by the party benefited by the
    provision and approved by the Crude Independent Committee or the
    Conflicts Committee of the CPLP Board (as applicable) and
    executed in the same manner as the merger agreement, or
    (ii)&#160;amended or modified at any time, whether before or
    after Crude&#146;s shareholders approve the merger, by an
    agreement in writing between the parties hereto approved by the
    boards of directors of each party and executed in the same
    manner as the merger agreement; <U>provided</U>, <U>however</U>,
    that, after Crude&#146;s shareholder approve the merger
    agreement, no amendment will be made that requires further
    approval by Crude&#146;s shareholders without such approval.
</DIV>

<A name='Y91492203'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Indemnification
    and Insurance; Rights of Third Parties</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    While the merger agreement is not intended to confer upon any
    person other than CPLP, Crude and MergerCo any rights or
    remedies, it provides limited exceptions. CPLP has agreed to
    assume all rights to indemnification, advancement of expenses
    and exculpation from liabilities for acts or omissions occurring
    at or prior to the effective time of the merger existing in
    favor of the current or former directors and officers of Crude.
    CPLP has also agreed to purchase a &#147;tail&#148;
    directors&#146; and officers&#146; liability insurance policy
    for Crude and its current and former directors and officers and
    employees who are currently covered by the liability insurance
    coverage currently maintained by Crude. The indemnification and
    insurance obligations of CPLP and the surviving corporation will
    survive the consummation of the merger and, for a period of six
    years from the effective date, will not be amended, repealed or
    otherwise modified in any manner that would adversely affect any
    indemnified party (it being expressly agreed that the
    indemnified parties to whom the section applies will be third
    party beneficiaries, each of whom may enforce the
    indemnification and insurance provisions of the merger
    agreement).
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    97
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492204'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Specific
    Performance</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP and Crude acknowledged and agreed in the merger agreement
    that irreparable damage would occur in the event that any of the
    provisions of the merger agreement were not performed in
    accordance with their specific terms or were otherwise breached.
    Each party is entitled to seek an injunction to prevent breaches
    of the merger agreement and to enforce specifically the terms
    and provisions of the merger agreement exclusively in the Court
    of Chancery in the State of Delaware, or if (but only if) that
    court does not have subject matter jurisdiction over such action
    or proceeding, in the United States District Court for the
    District of Delaware.
</DIV>

<A name='Y91492205'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">COMPARATIVE
    STOCK PRICES AND DIVIDENDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude common stock is listed and traded on the NYSE under
    the trading symbol &#147;CRU.&#148; CPLP common units are listed
    on Nasdaq under the trading symbol &#147;CPLP.&#148; The
    following table sets forth, during the periods indicated, the
    high and low intraday trading prices per share of Crude common
    stock, as reported on the NYSE, and the high and low intraday
    trading prices per unit of CPLP common units, as reported on
    Nasdaq, as well as historical cash dividends and distributions,
    as the case may be, declared per share of Crude common stock and
    per unit of CPLP common units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="48%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Crude Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>CPLP Common Units</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Dividends</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Distributions</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Third Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    20.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.51
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fourth Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    First Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.79
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.21
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Second Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.49
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Third Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.49
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fourth Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.49
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    First Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.69
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Second Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18.89
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.31
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Third Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18.65
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fourth Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    First Quarter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17.37
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.79
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.2325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Second Quarter (through June&#160;7, 2011)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.66
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.39
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;4, 2011, which was the last trading day prior to the
    public announcement of the execution of the merger agreement,
    the closing price for a share of Crude common stock was $12.99,
    and the closing price for a CPLP common unit was $11.27. On
    June&#160;7, 2011, the most recent practicable date prior to the
    printing of this proxy statement/prospectus, the closing price
    for a share of Crude common stock was $12.64, and the closing
    price for a CPLP common unit was $8.35. The averages of the
    closing prices per share of Crude common stock and per CPLP
    common unit for certain periods prior to the public announcement
    of the execution of the merger agreement are as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>CPLP Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock (NYSE)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Units (Nasdaq)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    30 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    60 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    90 consecutive trading day average ending May&#160;4, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We encourage you to obtain current market quotations for both
    Crude common stock and CPLP common units prior to making any
    decision with respect to the proposed transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The merger agreement provides that Crude may not declare or pay
    any dividends except the declaration and payment of a regular
    quarterly dividend for the quarter ended March&#160;31, 2011 and
    the quarter ending
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    98
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    June&#160;30, 2011, in each case not in excess of $0.25 per
    share of each of Crude common stock and Crude Class&#160;B
    stock. The respective boards of directors of Crude and CPLP will
    continue to evaluate their respective dividend and distribution
    policies in light of applicable business, financial, legal and
    regulatory considerations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has a cash distribution target of $0.93 per unit. The
    payment of distributions by CPLP following the merger, however,
    will be subject to approval and declaration by the CPLP Board
    and will depend on a variety of factors, including business,
    financial, legal and regulatory considerations and covenants
    under the combined company&#146;s credit facilities.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    99
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492206'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">UNAUDITED
    PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At the time the proposed transaction is completed:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    MergerCo will be merged with and into Crude, with Crude
    continuing as the surviving corporation, as a result of which
    Crude will become a wholly-owned subsidiary of CPLP;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying unaudited pro forma condensed combined balance
    sheet as at March&#160;31, 2011 is presented in thousands of
    U.S.&#160;dollars and reflects the combination of Crude and CPLP
    using the acquisition method of accounting as if the proposed
    transaction closed on March&#160;31, 2011. The unaudited pro
    forma condensed combined income statement for the year ended
    December&#160;31, 2010 and three months ended March&#160;31,
    2011 are presented in thousands of U.S.&#160;dollars and reflect
    the combination of Crude and CPLP as if the proposed transaction
    closed on January&#160;1, 2010 and was carried forward through
    the three months ended March&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following unaudited pro forma condensed combined financial
    information was derived from and should be read in conjunction
    with Crude&#146;s audited consolidated financial statements and
    the related notes included in Crude&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 filed with the SEC on
    April&#160;18, 2011, Crude&#146;s unaudited condensed
    consolidated financial statements for the three months ended
    March&#160;31, 2011, furnished to the SEC on June&#160;9, 2011,
    CPLP&#146;s audited consolidated financial statements included
    in CPLP&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 filed with the SEC on
    February&#160;4, 2011, and CPLP&#146;s unaudited condensed
    consolidated financial statements for the three months ended
    March&#160;31, 2011, furnished to the SEC on June&#160;9, 2011,
    all of which are incorporated by reference herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The unaudited pro forma condensed combined financial information
    does not reflect future events that may occur after the proposed
    transaction, including the potential realization of operating
    cost savings, general and administrative synergies or
    restructuring or other costs relating to the integration of the
    two companies. The unaudited pro forma condensed financial
    information was prepared in accordance with Article&#160;11 of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    of the SEC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The unaudited pro forma condensed combined financial information
    is provided for informational purposes only and is not
    necessarily indicative of the financial position or results of
    operations that would have occurred if the proposed transaction
    had been completed on March&#160;31, 2011 in the case of balance
    sheet information, and January&#160;1, 2010 and carried forward
    through the three months ended March&#160;31, 2011 in the case
    of income statement information, nor are they necessarily
    indicative of the future operating results or financial position
    of the company. In addition, the unaudited pro forma financial
    information does not purport to indicate the financial position
    or results of operations of any future date or any future
    period. The pro forma adjustments are preliminary, subject to
    change and are based upon available information and certain
    assumptions that Crude and CPLP believe are reasonable on the
    date of this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying unaudited pro forma condensed combined
    financial information should be read in conjunction with the
    historical financial statements and the managements&#146;
    discussion and analysis of Crude and CPLP, which are
    incorporated by reference in this prospectus. See the section
    captioned &#147;Where You Can Find More Information,&#148;
    beginning on page&#160;125.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    100
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL,bs -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">UNAUDITED
    PRO FORMA CONDENSED COMBINED BALANCE SHEET<BR>
    <!-- XBRL,body -->AS OF MARCH 31, 2011</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="64%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Historical</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Capital<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Condensed<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Product<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Combined<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Partners<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carriers<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Balance<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>L.P.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Corp.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Adjustments</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Sheet</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unaudited</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(Dollars in thousands, except unit and share data)(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="21" align="center" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>ASSETS</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    34,618
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,244
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    45,862
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Trade accounts receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,366
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,029
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Due from related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Prepayments and other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,024
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    526
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,550
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Inventories
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    185
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,432
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>38,495</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>18,568</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>57,063</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Fixed assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Vessel, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    699,222
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    388,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,912
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (b)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,093,098
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total fixed assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>699,222</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>388,964</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,912</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,093,098</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Other non-current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Above market acquired bare-boat charter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,450
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,450
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Deferred finance charges
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,527
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,531
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,531
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (c)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,527
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total non-current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>714,449</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>395,495</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(1,531</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,113,325</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>752,944</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>414,063</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,381</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,170,388</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD colspan="21">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="21" align="center" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>LIABILITIES AND PARTNERS&#146; CAPITAL/STOCKHOLDERS&#146;
    EQUITY</B>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Current liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Current portion of long-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (14,479
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (c)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Trade accounts payable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    858
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,140
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,998
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Due to related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,872
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,451
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,323
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    861
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,003
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,864
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Deferred revenue&#160;&#151; current
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,097
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,097
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total current liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>9,688</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>21,073</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(14,479</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>16,282</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Long-term liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Long-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    474,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    120,101
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (c)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    608,580
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Deferred revenue&#160;&#151; long term
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,997
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,997
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Derivative instruments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,658
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,658
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total long-term liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>504,655</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>120,101</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>14,479</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>639,235</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>514,343</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>141,174</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>655,517</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Commitments and contingencies</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Partners&#146; Capital / Stockholders&#146; Equity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,372
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (d)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    General Partner
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,452
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,122
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (a)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,946
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Limited Partners&#160;&#151; Common (37,946,183&#160;units
    issued and outstanding at March&#160;31, 2011)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    214,239
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (d)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54,987
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (a)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    527,820
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    257,044
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,550
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (a)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Accumulated other comprehensive loss
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (23,895
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (23,895
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Common stock (par value $0.0001 per share: 1&#160;billion shares
    authorized; 13,899,400 issued and outstanding at March&#160;31,
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (e)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Class&#160;B Stock, par value $0.0001 per share:
    100&#160;million shares authorized; 2,105,263&#160;shares issued
    and outstanding at March&#160;31, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Additional paid in capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    281,329
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (281,329
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (e)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Accumulated deficit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,442
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,442
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (e)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total partners&#146; capital/stockholders&#146; equity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>238,601</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>272,889</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,381</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>514,871</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    <B>Total liabilities and partners&#146;
    capital/stockholders&#146; equity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>752,944</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>414,063</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,381</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,170,388</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,bs -->
<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Accounting Standards Codification (&#147;ASC&#148;)
    &#147;Business Combinations&#148; establishes principles and
    requirements for how the acquirer of a business combination
    account for the acquisition related costs.
    ASC&#160;805.10.25.23&#160;states that these costs shall account
    for as expenses in the periods in which the costs are incurred
    and the services are received, with the exception of the costs
    to issue debt or equity securities. Crude and CPLP expect to
    incur approximately $4,000 and $4,000 respectively, in fees and
    costs associated with the merger. Most of the merger costs will
    be expensed in the periods as incurred and therefore are not
    reflected in the pro forma condensed combined financial
    information.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    101
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL --><DIV style="margin-top: 0pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,in -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">UNAUDITED
    PRO FORMA CONDENSED COMBINED INCOME STATEMENT<BR>
    <!-- XBRL,body -->FOR THE YEAR ENDED DECEMBER 31, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Historical</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Capital<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Condensed<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Product<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Combined<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Partners<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carriers<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Income<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>L.P.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Corp.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Adjustments</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Statement</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(Dollars in thousands, except per unit data)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unaudited</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    113,562
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    55,882
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    169,444
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <B>Total revenues</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>124,592</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>55,882</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>180,474</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Expenses:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Voyage expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,009
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,491
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Voyage expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,086
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,347
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,152
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,506
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,264
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (180
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (f)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,590
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,464
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,317
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (934
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (g)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,847
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,286
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,286
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <B>Operating Income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>51,318</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>13,256</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,114</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>65,688</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Other income (expense), net:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest expense&#160;&#038; finance cost
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (33,259
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,687
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (h)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (34,685
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest and other income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    860
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    328
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,188
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total other income (expense), net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(32,399</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(3,359</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,261</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(33,497</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,919
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,897
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    32,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income attributable to Capital Maritime operations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Partnership&#146;s / Company&#146;s net income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>17,936</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>9,897</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,375</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>31,208</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner interest in Partnership&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Limited Partners&#146; interest in Partnership&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income per:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Weighted-average units outstanding:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units (basic and diluted)(*)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,437,314
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,069,715
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,in -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>(*) </B></TD>
    <TD></TD>
    <TD valign="bottom">
    The pro forma weighted average number of units, basic and
    diluted, presented in the unaudited pro forma condensed combined
    income statement for the year ended December&#160;31, 2010
    include (i)&#160;CPLP weighted average number of units for the
    year ended December&#160;31, 2010, (ii)&#160;Crude weighted
    average number of common and class&#160;B shares for the year
    ended December&#160;31, 2010 multiplied by the exchange ratio of
    1.56 and (iii)&#160;the weighted average of 20,000 Crude shares
    representing awards, to a number of members of the Crude
    Independent Committee who are not designated by Crude to serve
    as members of the CPLP Board, whose vesting will be accelerated
    upon closing of the merger multiplied by the exchange ratio of
    1.56.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    102
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL --><DIV style="margin-top: 0pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The two class method which was used to calculate pro forma
    combined earnings per unit for the year ended December&#160;31,
    2010 as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(Dollars in thousands, except per unit data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Numerators</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Partnership&#146;s pro forma combined net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    31,208
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner&#146;s interest in Partnership&#146;s pro forma
    combined net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (624
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Partnership&#146;s pro forma combined net income allocable to
    unvested units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (274
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Partnership&#146;s pro forma combined net income available to
    common unit holders</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>30,310</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Denominators</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Actual
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Pro forma<BR>
    Adjustment
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Pro forma
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP weighted average number of common units outstanding, basic
    and diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,437,314
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (394,925
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,042,389
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average number of common units outstanding,
    representing converted Crude weighted average number of shares,
    basic and diluted (12,831,290 X 1.56)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,016,812
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,016,812
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average number of common units outstanding,
    representing converted Crude share based payment awards whose
    vesting will be accelerated, basic and diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,514
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,514
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total weighted average number of units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,437,314
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,632,401
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,069,715
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pro forma combined net income per common unit:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Basic and diluted</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>0.58</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The pro forma adjustment of 394,925 for the year ended
    December&#160;31, 2010 represents the weighted average number of
    499,190 common units that must be converted into general partner
    units in order for Capital GP to maintain its 2% interest in
    CPLP.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    103
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL --><DIV style="margin-top: 0pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,in -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">UNAUDITED
    PRO FORMA CONDENSED COMBINED INCOME STATEMENT<BR>
    <!-- XBRL,body -->FOR THE THREE MONTHS ENDED MARCH 31,
    2011</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Historical</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Capital<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Condensed<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Product<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Combined<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Partners<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carriers<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Income<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>L.P.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Corp.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Adjustments</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Statement</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(Dollars in thousands, except per unit data)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unaudited</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    21,425
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,831
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    34,256
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,229
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,229
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <B>Total revenues</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>27,654</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>12,831</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>40,485</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Expenses:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Voyage expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    735
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,256
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Voyage expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses&#160;&#151; related party
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,048
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    384
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,432
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,292
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,616
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (104
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (f)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,804
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,117
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,005
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (233
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (g)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,889
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <B>Operating Income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>10,462</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>850</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>337</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>11,649</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Other income (expense), net:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest expense&#160;&#038; finance cost
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,225
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,347
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    756
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (h)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,816
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest and other income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total other income (expense), net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(8,069</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(1,317</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>756</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(8,630</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Partnership&#146;s net income / Company&#146;s net (loss)</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,393</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(467</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,093</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,019</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner interest in Partnership&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Limited Partners&#146; interest in Partnership&#146;s net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,959
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income per:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units (basic and diluted)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Weighted-average units outstanding:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Common units (basic and diluted)(*)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,150,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61,054,788
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,in -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>(*) </B></TD>
    <TD></TD>
    <TD valign="bottom">
    The pro forma weighted average number of units, basic and
    diluted, presented in the unaudited pro forma condensed combined
    income statement for the three month period ended March&#160;31,
    2011, include (i)&#160;CPLP weighted average number of units for
    the three month period ended March&#160;31, 2011,
    (ii)&#160;Crude weighted average number of common and
    class&#160;B shares for the three month period ended
    March&#160;31, 2011, multiplied by the exchange ratio of 1.56
    and (iii)&#160;the weighted average of 20,000 Crude shares
    representing awards to a number of members of the Crude
    Independent Committee who are not designated by Crude to serve
    as members of the CPLP Board, whose vesting will be accelerated
    upon closing of the merger multiplied by the exchange ratio of
    1.56.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    104
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL --><DIV style="margin-top: 0pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The two class method was used to calculate pro forma combined
    earnings per unit for the three months ended March&#160;31, 2011
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom">
    <B>For the Three Month Period<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ended March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom">
    <B>(Dollars in thousands, except per unit data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Numerators</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Partnership&#146;s pro forma combined net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,019
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner&#146;s interest in Partnership&#146;s pro forma
    combined net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (60
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Partnership&#146;s pro forma combined net income allocable to
    unvested units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (65
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Partnership&#146;s pro forma combined net income available to
    common unit holders</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,894</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Denominators</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Actual
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Pro forma<BR>
    Adjustment
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    Pro forma
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP weighted average number of common units outstanding, basic
    and diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,150,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (471,605
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,679,378
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average number of common units outstanding,
    representing converted Crude weighted average number of shares,
    basic and diluted (15,605,263 X 1.56)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,344,210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,344,210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average number of common units outstanding,
    representing converted Crude share based payment awards whose
    vesting will be accelerated, basic and diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,200
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,200
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total weighted average number of units
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,150,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,903,805
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61,054,788
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pro forma combined net income per common unit:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Basic and diluted</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>0.05</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The pro forma adjustment of 471,605 for the three month period
    ended March&#160;31, 2011 represents the weighted average number
    of 499,346 common units that must be converted into general
    partner units in order for Capital GP to maintain its 2%
    interest in CPLP.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    105
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL,ns -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notes to
    Unaudited Pro Forma Condensed Combined Financial Statements<BR>
    (Amounts expressed in thousands of United States
    Dollars&#160;&#151; except for unit/share and per<BR>
    unit/share data, unless otherwise stated)</FONT></B>
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Note&#160;1&#160;&#151;
    </FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Description
    of transaction and basis of presentation:</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Description
    of Merger</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;5, 2011, CPLP announced that it had entered into an
    Agreement and Plan of Merger, dated May&#160;5, 2011, with
    Crude, Capital GP and MergerCo. The merger is more fully
    described in this prospectus and should be read in conjunction
    with these unaudited pro forma condensed combined financial
    statements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Assumptions</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pro forma adjustments giving effect to the merger have been
    reflected in the unaudited pro forma condensed combined income
    statements assuming the merger was completed on January&#160;1,
    2010 and carried forward to the three-months period ended
    March&#160;31, 2011 and are discussed in Note&#160;2. Pro forma
    adjustments giving effect to the merger have been reflected in
    the unaudited pro forma condensed combined balance sheet
    assuming the merger was completed on March&#160;31, 2011 and are
    discussed in Note&#160;2.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to the pro forma adjustments related to the
    unaudited pro forma condensed combined balance sheet, recurring
    and non recurring adjustments are taken into consideration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to the pro forma adjustments related to the
    unaudited pro forma condensed combined income statements, only
    adjustments that are expected to have a continuing effect on the
    financial information are taken into consideration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Only adjustments that are factually supportable and that can be
    estimated reliably are taken into consideration. For example,
    the unaudited pro forma condensed combined financial information
    does not reflect any cost savings potentially realizable from
    the elimination of certain expenses.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Note&#160;2&#160;&#151;
    </FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Pro forma
    Adjustments related to the Merger:</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The pro forma adjustments giving effect to the merger are as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>a)&#160;</B>In accordance with U.S.&#160;GAAP, the fair value
    of the common unit consideration to be issued by CPLP
    representing the consideration transferred for the acquisition
    of Crude, has been allocated as of March&#160;31, 2011 to the
    estimated fair value of Crude identifiable assets and
    liabilities to be acquired in accordance with the acquisition
    method prescribed by Accounting Standards Codification,
    &#147;Business Combinations,&#148; or ASC-805 and is based on
    preliminary estimates of their respective fair values. The
    merger consideration will be determined on the acquisition date
    value of CPLP common units, which will be the date on which CPLP
    will obtain a control of Crude and when CPLP will legally
    transfer units issued as consideration to Crude and will acquire
    its assets and assume its liabilities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    106
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notes to
    Unaudited Pro Forma Condensed Combined Financial
    Statements&#160;&#151; (Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude Book<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Crude Fair<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Value as of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Value as of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Adjustments</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Net assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Current assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,568
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,568
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vessel, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (b)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    388,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,912
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    393,876
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other non-current assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (c)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,531
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,531
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (141,174
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (141,174
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total Net assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>272,889</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>276,270</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Merger Consideration</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fair value of CPLP&#146;s units issued to Crude stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (d)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    218,611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fair-value-based measure of vested share based payment awards
    attributable to pre-combination service
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (f)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    270
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fair-value-based measure of unvested awards attributable to
    pre-combination service
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
    (f)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,280
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total consideration provided</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>220,161</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Gain from bargain purchase</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>56,109</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    General Partner interest in gain from bargain purchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,122
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Limited Partners&#146; interest in gain from bargain purchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,987
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The gain from bargain purchase of $56,109 has resulted from the
    difference between the unit price of CPLP units to be issued to
    Crude stockholders and the fair value of Crude&#146;s net
    assets. Gain from bargain purchase is presented as a non
    recurring transaction in the unaudited pro forma condensed
    combined balance sheet under Partners&#146;
    Capital&#160;/&#160;Stockholders&#146; Equity, and is allocated
    between the Partnership&#146;s general partner and limited
    partners based on their ownership percentage. A sensitivity
    analysis showing how the merger consideration is impacted from a
    change in the CPLP&#146;s unit price is presented below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="73%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Goodwill)/Gain<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>CPLP&#146;s<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from Bargain<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Units Price</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Purchase</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP&#146;s unit price&#160;&#151; 52-week high as of June, 2,
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.39
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (2,560
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP&#146;s unit price -52-week low as of June, 2, 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    100,659
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP&#146;s unit price on May&#160;4, 2011 (Closing price per
    unit on a day prior to the merger announcement)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (361
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>b)&#160;</B>The amount of $4,912 represents the difference
    between the fair market value of Crude&#146;s vessels of
    $393,876, which reflects the average of two valuations from
    independent third party ship brokers, and their respective net
    book value of $388,964 as of March&#160;31, 2011;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>c)&#160;</B>Following the merger, Crude&#146;s credit
    facility is expected to be refinanced by the available liquidity
    in CPLP&#146;s credit facility of $350,000, which is
    <FONT style="white-space: nowrap">non-amortizing</FONT>
    up to March&#160;31, 2013. Therefore the current portion of long
    term debt of $14,479 will be converted into long term debt. As a
    result deferred financing charges of Crude&#146;s existing
    credit facility of $1,531 as reflected in the March&#160;31,
    2011 balance sheet will be written off.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    107
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notes to
    Unaudited Pro Forma Condensed Combined Financial
    Statements&#160;&#151; (Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>d)&#160;</B>Upon the closing of the merger each share of
    Crude common stock and Crude Class&#160;B stock will be
    converted into 1.56 CPLP common units. The amount of $218,611
    (Note&#160;2a) reflects the result of this conversion and is the
    product of 13,500,000 shares of Crude common stock and 2,105,263
    shares of Crude Class&#160;B stock issued and outstanding as of
    March&#160;31, 2011 multiplied by the exchange ratio of 1.56
    times the price per CPLP&#146;s unit of $8.98 as quoted on
    Nasdaq on June&#160;2, 2011. Furthermore out of the $218,611 the
    amount of $4,372 has been allocated to Capital GP in order for
    it to maintain its 2% interest in CPLP and the remaining amount
    of $214,239 is allocated to CPLP&#146;s limited partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>e)&#160;</B>Upon the consummation of the merger agreement the
    equity of Crude will be eliminated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>f)&#160;</B>Upon the effective time of the merger,
    Crude&#146;s share based payment awards granted on
    August&#160;31, 2010 will be converted into equivalent CPLP
    common unit awards using an exchange ratio of 1.56 and all the
    terms of such awards will remain the same. Crude&#146;s share
    based payment awards to the members of the Crude Independent
    Committee who are not designated by Crude to serve as a member
    of the CPLP Board, will lapse immediately prior to the effective
    time of the merger, and such 20,000&#160;shares of Crude common
    stock based payment awards will vest in full immediately prior
    to the effective time of the merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The acquisition date fair value of the awards vesting upon
    merger as noted above is included as part of the consideration
    transferred in the business combination (Note&#160;2a) and is
    calculated based on 20,000&#160;shares multiplied by the price
    per Crude common share of $13.51 on the NYSE on June&#160;2,
    2011. The acquisition date fair value is estimated at $270 as of
    June&#160;2, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The remaining unvested share based payment awards will be valued
    at fair value as of the acquisition date. The fair-value-based
    measure of the replaced awards (Crude measured awards) will be
    split into two portions: (i)&#160;fair value assigned to
    pre-combination services to be recognized as part of the
    consideration transferred in the business combination; and
    (ii)&#160;fair value assigned to post-combination services to be
    recognized as equity compensation expense in the
    post-combination financial statements of CPLP over the remaining
    vesting period.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The calculation related to unvested awards is as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="45%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="44%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    Fair-value-based measure of the CPLP replacement awards.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    379,400 Crude shares multiplied by 1.56 exchange ratio resulting
    in 591,864&#160;units of CPLP and multiplied by 8.98 per CPLP
    unit.*
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    5,315
</TD>
<TD nowrap align="left" valign="top">
    ***
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Fair-value-based measure of the Crude awards being replaced.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    379,400 Crude shares multiplied by $13.51 per Crude share.**
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5,126
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Excess of fair-value-based measure of replacement awards over
    fair-value based measure of awards being replaced.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attributable to post-combination service period.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    189
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Unvested portion of the fair value of awards attributable to
    post-combination services.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fair-value-based measure of the Crude awards being replaced
    divided by the total service period of 3&#160;years and
    multiplied by the days of the post-combination service period
    since August 31, 2010.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3,846
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Total attributable to post-combination services.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="top">
    <B>4,035</B>
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Fair-value-based measure attributable to pre-combination
    services.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fair-value-based measure of the Crude awards being replaced
    divided by the total service period of 3&#160;years and
    multiplied by the days of the pre-combination service period
    since August 31, 2010.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="top">
    <B>1,280</B>
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>



<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    CPLP per unit closing price of $8.98 as quoted on Nasdaq on
    June&#160;2, 2011.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    ** </TD>
    <TD></TD>
    <TD valign="bottom">
    Crude per share closing price of $13.51 as quoted on the NYSE on
    June&#160;2, 2011.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    108
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notes to
    Unaudited Pro Forma Condensed Combined Financial
    Statements&#160;&#151; (Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *** </TD>
    <TD></TD>
    <TD valign="bottom">
    The replacement awards will have a continuing effect on CPLP as
    the fair value of the unvested portion of the replacement awards
    issued will be recognized in income over the remaining term of
    the awards from the grant date. Accordingly, an adjustment has
    been made to the historical compensation expense recognized by
    Crude on the previously existing awards in order to reflect the
    estimated compensation expense based upon the terms of the
    replacement awards as set out in the merger agreement. The
    adjustment amounted to $(104) and $(180) and is presented as a
    pro forma adjustment to general and administrative expenses in
    the unaudited pro forma condensed combined income statement for
    the three month period ended March&#160;31, 2011 and for the
    year ended December&#160;31, 2010, respectively. An analysis of
    this pro forma adjustment is as follows:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="54%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="23%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the Three Month<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Period Ended March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Equity compensation expense, historical
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    536
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    768
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Equity compensation expense based on terms of replacement awards
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    432
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    588
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pro forma adjustment</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(104</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(180</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>(g)&#160;</B>Vessel depreciation was adjusted by replacing
    the Crude vessels&#146; carrying values with their respective
    fair values and using Crude vessels&#146; estimated useful life
    of 25&#160;years from vessels&#146; delivery from respective
    shipyards. In the case of four out of five of Crude&#146;s
    vessels that were acquired during 2010, vessel depreciation for
    the year ended December&#160;31, 2010 was calculated from the
    dates of their acquisitions. In the case of the fifth Crude
    vessel, depreciation for the year ended December&#160;31, 2010
    was calculated for the period from January&#160;1, 2010 to
    December&#160;31, 2010 as the vessel owning company of the
    respective vessel and Crude were under common control prior to
    Crude&#146;s initial public offering that was completed in March
    2010. An analysis of vessel depreciation for the three months
    ended March&#160;31, 2011 and for the year ended
    December&#160;31, 2010 is as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="54%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="23%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the Three Month<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Period Ended March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Depreciation based on fair value of vessels
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,772
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,383
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Depreciation based on carrying value of vessels
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,005
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,317
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pro forma adjustment</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(233</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(934</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>(h)&#160;</B>Interest expense was recalculated as if the
    refinancing of the amount of $134,580 drawn-down under
    Crude&#146;s credit facility by CPLP&#146;s credit facility of
    up to $350,000 had occurred in June 2010 when the two advances
    of $75,000 and $59,580 under the Crude credit facility were
    originally drawn down. Calculations of the interest expense for
    these two advances have been based on the three months actual
    LIBOR plus the funding cost plus the margin of CPLP&#146;s
    credit facility of up to $350,000 according to the last interest
    fixation for the three month period starting on March&#160;31,
    2011 and ending on June&#160;30, 2011. In addition non-cash
    amortization expense of deferred finance charges as well as loan
    commitment fees calculated on the undrawn portion of the Crude
    credit facility for the three month period ended March&#160;31,
    2011 and for the year ended December&#160;31, 2010 has been
    reversed. For the same period commitment fees calculated on the
    undrawn portion of CPLP&#146;s credit facility of up to $350,000
    have been reduced by the assumed drawn-down of $134,580 in June
    2010. For the refinancing of the Crude credit facility expenses
    that could affect materially the unaudited pro forma condensed
    combined income statements for the three month period ended
    March&#160;31, 2011 and for the year ended December&#160;31,
    2010 are not expected to be recognized. An analysis of the pro
    forma adjustments in the interest expense and finance cost in
    the unaudited pro forma condensed combined
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    109
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notes to
    Unaudited Pro Forma Condensed Combined Financial
    Statements&#160;&#151; (Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    income statement as a result of the refinancing of Crude credit
    facility for the three month period ended March&#160;31, 2011
    and for the year ended December&#160;31, 2010 is as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="54%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="23%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the three Month<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>For the Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Period Ended March&#160;31, 2011</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Reversal of actual interest expense already incurred under
    Crude&#146;s current credit facility
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Reversal of actual amortization expense and deferred finance
    charges already incurred under Crude&#146;s current credit
    facility
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,082
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    CPLP&#146;s adjusted commitment fees as a result of the assumed
    drawn down of $134,580 from its credit facility of up to
    $350,000 in June 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    244
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Pro-forma interest expense as a result of the assumed drawn down
    of $134,580 from CPLP&#146;s credit facility of up to $350,000
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (691
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,544
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pro forma adjustment</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>756</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,261</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An increase of 0.125% in the interest rate of CPLP&#146;s credit
    facility of up to $350,000 will cause pro-forma interest expense
    to increase by $42 and $94 for the three month period ended
    March&#160;31, 2011 and the year ended December&#160;31, 2010,
    respectively. A decrease of 0.125% in the interest rate of
    CPLP&#146;s credit facility of up to $350,000 will cause
    pro-forma interest expense to decrease by $42 and $94 for the
    three month period ended March&#160;31, 2011 and the year ended
    December&#160;31, 2010, respectively.
</DIV>
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    <BR>
    110
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='Y91492207'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF CPLP COMMON UNITS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Set forth below is a summary of the material terms of the
    CPLP common units as specified in the CPLP Partnership Agreement
    and the MILPA, as it relates to the CPLP common units. This
    description is not complete and is qualified in its entirety by
    reference to Republic of Marshall Islands law, including the
    MILPA, and to the CPLP Partnership Agreement. CPLP&#146;s
    Partnership Agreement was included as Exhibit&#160;I of
    CPLP&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    filed with the SEC on February&#160;24, 2010. The CPLP
    Partnership Agreement is hereby incorporated by reference into
    this section, and the descriptions in this section are qualified
    in their entirety by reference to the full text of the CPLP
    Partnership Agreement. To find out where copies of these
    documents can be obtained, please see &#147;Where You Can Find
    More Information&#148; on page&#160;125.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Authorized
    and Outstanding Common Units</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon consummation of the proposed transaction, CPLP will have a
    total of approximately 69,871,458&#160;million CPLP common units
    outstanding. The CPLP common units represent limited partnership
    interests in CPLP. The holders of CPLP common units are entitled
    to participate in partnership distributions and exercise the
    rights and privileges available to limited partners under the
    CPLP Partnership Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">CPLP
    Common Units</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each outstanding CPLP common unit is entitled to one vote on
    matters subject to a vote of the holders of CPLP common units.
    CPLP&#146;s general partner, Capital GP, and as the sole member
    of the general partner, Capital Maritime, has the right to
    appoint three of the seven members of the CPLP Board with the
    remaining four directors being elected by the holders of CPLP
    common units. Election of directors is by plurality of votes
    cast.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In voting their common units, CPLP&#146;s general partner,
    Capital GP, and its affiliates will have no fiduciary duty or
    obligation whatsoever to the holders of CPLP common units,
    including any duty to act in good faith or in the best interests
    of the holders of CPLP common units.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Anti-Takeover
    Provisions&#160;&#151; CPLP&#146;s Amended and Restated Limited
    Partnership Agreement and the MILPA</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Provisions in the CPLP Partnership Agreement might make it
    harder for a person or group to acquire CPLP through a tender
    offer, proxy contest or otherwise. These provisions include, for
    example, terms providing for:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Merger
    of CPLP or the sale of all or substantially all of CPLP&#146;s
    assets</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the terms of the CPLP Partnership Agreement, the approval
    of CPLP&#146;s general partner, Capital GP, and the CPLP Board
    are required for the merger of CPLP and the sale of all or
    substantially all of CPLP&#146;s assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Election
    and Removal of Directors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement prohibits cumulative voting in
    the election of directors and requires parties other than the
    CPLP Board to give advance written notice of nominations for the
    election of directors. CPLP&#146;s general partner may remove an
    appointed board member with or without cause at any time. Any
    and all of the members of the CPLP Board may be removed at any
    time for cause by the affirmative vote of a majority of the
    other board members. Any and all of the members of the CPLP
    Board may be removed for cause at a properly called meeting of
    the unitholders by a majority of the outstanding CPLP common
    units. If any appointed CPLP Board member is removed, resigns or
    is otherwise unable to serve as a CPLP Board member, CPLP&#146;s
    general partner, Capital GP, may fill the vacancy. These
    provisions may discourage, delay or prevent the removal of
    incumbent officers and directors.
</DIV>
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    <BR>
    111
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Removal
    of CPLP management or CPLP&#146;s general partner</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The unitholders will be unable to remove CPLP&#146;s general
    partner without its consent because the general partner and its
    affiliates own sufficient units to be able to prevent such
    removal. The vote of the holders of at least
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of all outstanding CPLP common units and a majority vote of the
    CPLP Board are required to remove the general partner. As of
    December&#160;31, 2010, Capital Maritime owned a 31.2% interest
    in CPLP, including 11,304,651 CPLP common units and its 2%
    interest through its ownership of CPLP&#146;s general partner,
    Capital GP, while 66.8% of the outstanding CPLP common units
    were owned by public unitholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Common unitholders elect four of the seven members of the CPLP
    Board. CPLP&#146;s general partner in its sole discretion has
    the right to appoint the remaining three directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Election of the four directors elected by common unitholders is
    staggered, meaning that the members of only one of three classes
    of CPLP&#146;s elected directors are selected each year. In
    addition, the directors appointed by Capital GP will serve for
    terms determined by Capital GP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement contains provisions limiting the
    ability of unitholders to call meetings of unitholders, to
    nominate directors and to acquire information about CPLP
    operations as well as other provisions limiting the
    unitholders&#146; ability to influence the manner or direction
    of management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unitholders&#146; voting rights are further restricted by the
    CPLP Partnership Agreement provision providing that if any
    person or group, other than Capital GP, its affiliates, their
    transferees, and persons who acquired such units with the prior
    approval of the CPLP Board, owns beneficially 5% or more of any
    class of units then outstanding, any such units owned by that
    person or group in excess of 4.9% may not be voted on any matter
    and will not be considered to be outstanding when sending
    notices of a meeting of unitholders, calculating required votes,
    except for purposes of nominating a person for election to the
    CPLP Board, determining the presence of a quorum or for other
    similar purposes, unless required by law. The voting rights of
    any such unitholders in excess of 4.9% will be redistributed pro
    rata among the other common unitholders holding less than 4.9%
    of the voting power of all classes of units entitled to vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP, as a foreign private issuer and limited partnership, is
    not subject to certain applicable Nasdaq restrictions, and as
    such, has substantial latitude in issuing equity securities
    without unitholder approval.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Amendments
    to the CPLP Partnership Agreement</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Amendments to the CPLP Partnership Agreement may be proposed
    only by the general partner or the CPLP Board. Neither the
    general partner nor the CPLP Board has a duty or obligation to
    propose any amendment to the CPLP Partnership Agreement and may
    decline to do so free of any fiduciary duty or obligation
    whatsoever to CPLP or any unitholder and, in declining to
    propose an amendment, to the fullest extent permitted by
    applicable law shall not be required to act in good faith or
    pursuant to any other standard imposed by the CPLP Partnership
    Agreement, any other agreement contemplated hereby or under the
    MILPA or any other applicable law, rule or regulation.
</DIV>
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    <BR>
    112
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='Y91492208'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">COMPARISON
    OF RIGHTS OF SHAREHOLDERS OF CRUDE AND UNITHOLDERS OF
    CPLP</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rights of Crude shareholders are currently governed by the
    MIBCA and the amended and restated articles of incorporation and
    amended and restated bylaws of Crude. The rights of unitholders
    of CPLP are currently governed by the MILPA and the CPLP
    Partnership Agreement. Upon completion of the merger, the rights
    of Crude shareholders who become unitholders of CPLP in the
    merger will be governed by the MILPA and the CPLP Partnership
    Agreement. While both Crude and CPLP are companies organized
    under the laws of the Republic of the Marshall Islands, and
    accordingly, the shareholder or unitholder rights of both
    companies are governed by Marshall Islands law, there are
    certain differences between the rights of Crude shareholders and
    the rights of unitholders of CPLP due to differences between the
    amended and restated articles of incorporation and amended and
    restated bylaws of Crude and the CPLP Partnership Agreement. The
    following discussion explains various differences, including any
    material differences, between the current rights of Crude
    shareholders and the rights they will have as unitholders of
    CPLP if they receive CPLP common units in the merger. The
    following comparison is necessarily a summary and is not
    intended to identify all immaterial differences that may exist.
    This summary is qualified in its entirety by reference to
    Marshall Islands law, the amended and restated articles of
    incorporation and amended and restated bylaws of Crude and the
    CPLP Partnership Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Authorized
    Capital Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The authorized share capital of Crude is divided into three
    classes, consisting of 1,000,000,000&#160;shares of Crude common
    stock, par value $0.0001 per share; 100,000,000&#160;shares of
    Crude Class&#160;B stock, par value $0.0001 per share; and
    100,000,000&#160;shares of preferred stock, par value $0.0001
    per share.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP has as of June&#160;8, 2011, issued 37,946,183 common units
    and 774,411 general partner units. Under its partnership
    agreement, CPLP may issue an unlimited number of units at any
    time and from time to time for such consideration and on such
    terms and conditions as the CPLP Board shall determine, all
    without the approval of any limited partners, but under certain
    circumstances subject to the approval of the general partner.
    Upon the issuance of any additional CPLP common units, the
    general partner will have the right, but not the obligation, to
    make additional capital contributions to the extent necessary to
    maintain its 2.0% general partner interest in CPLP.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Number of
    Directors; Classification of Board of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, Marshall Islands companies are required to have
    at least one director. The directors of a Marshall Islands
    company may be divided into two or more classes and those
    classes of directors may serve for different terms. The Crude
    Board currently consists of eight directors and is divided into
    three classes, with the term of office of each of the three
    classes expiring successively each year.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Board currently consists of seven individuals, three of
    whom are appointed by the general partner of CPLP and four of
    whom are elected by the unitholders that are unaffiliated with
    Capital Maritime, the sole member of CPLP&#146;s general
    partner. The directors elected by the unitholders are divided
    into three classes: Class&#160;I, comprising one elected
    director, Class&#160;II, comprising one elected director, and
    Class&#160;III, comprising two elected directors, with the term
    of office of each of the three classes expiring successively
    each year.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Board
    Vacancies and Newly Created Directorships</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Crude&#146;s amended and restated articles of
    incorporation, any vacancies in the Crude Board for any reason,
    and any created directorships resulting from any increase in the
    number of directors, may be filled by the vote of not less than
    a majority of the members of the Crude Board then in office.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, any appointed directors
    who resign, are removed, or are unable to serve will be replaced
    by the general partner. Any elected directors who are removed,
    resign or are unable to serve will be replaced by a majority of
    the elected directors then serving.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Removal
    of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s amended and restated articles of incorporation
    provide that its directors may be removed only for cause upon
    the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the outstanding shares of its capital stock entitled to vote
    for those directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, any appointed directors
    may be removed at any time without cause only by the general
    partner and, with cause, by the general partner or by the
    affirmative vote of the holders of a majority of the outstanding
    units at a properly called meeting of the unitholders. Elected
    directors may be removed at any time, with cause, only by the
    affirmative vote of a majority of the other elected directors or
    at a properly called meeting of the unitholders by the
    affirmative vote of the holders of a majority of the outstanding
    units.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appointment
    of Auditors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Independent Committee, inter alia, determines the
    appointment of the independent auditors of Crude and any change
    in such appointment and ensures the independence of such
    auditors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, CPLP is required to
    provide unitholders with an annual report containing financial
    statements to be audited by a firm of independent public
    accountants selected by the CPLP Board.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Quorum
    Requirements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The holders of a majority of total voting power of the
    outstanding capital stock of Crude entitled to vote at a meeting
    of the shareholders, present in person or represented by proxy,
    shall constitute a quorum for the transaction of business at any
    annual or special meeting of the shareholders, provided that
    where a separate vote by a class or series of capital stock is
    required, the holders of a majority of total voting power of the
    outstanding capital stock of such class or series, present in
    person or represented by proxy, shall constitute a quorum
    entitled to take action with respect to such vote on such matter.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The holders of a majority of the outstanding units of the class
    or classes for which a meeting has been called (including
    outstanding units deemed owned by the general partner)
    represented in person or by proxy
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    shall constitute a quorum at a meeting of unitholders of such
    class or classes unless any such action by the unitholders
    requires approval by holders of a greater percentage of such
    units, in which case the quorum shall be such greater percentage.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Voting
    Rights and Required Votes Generally</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as otherwise provided by the Crude amended and restated
    articles of incorporation, the Crude amended and restated
    bylaws, the rules or regulations of the NYSE or applicable law,
    and except for the election of directors, any question brought
    before any meeting of the shareholders at which a quorum is
    present shall be decided by the affirmative vote of the holders
    of a majority of the total number of votes of the capital stock
    present in person or represented by proxy and entitled to vote
    on the applicable subject matter.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, at any meeting of the
    unitholders at which a quorum is present, the act of unitholders
    holding outstanding units that in the aggregate represent a
    majority of the outstanding units entitled to vote and present
    in person or by proxy at such meeting shall be deemed to
    constitute the act of all unitholders, unless a greater or
    different percentage is required with respect to such action
    under the provisions of the CPLP Partnership Agreement, in which
    case the act of the unitholders holding outstanding units that
    in the aggregate represent at least such greater or different
    percentage shall be required.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Voting on
    Mergers, Consolidations and Certain Other Transactions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the case of a merger or consolidation the voting rights
    discussed in &#147;&#151;&#160;Voting Rights and Required Votes
    Generally&#148; above will generally apply.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the case of a merger or consolidation the voting rights
    discussed in &#147;&#151;&#160;Voting Rights and Required Votes
    Generally&#148; above will generally apply.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Dissenters&#146;
    Rights of Appraisal</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, no class or group of partners is entitled to
    any appraisal rights unless the partnership agreement or an
    agreement of merger provide for such rights. The CPLP
    Partnership Agreement provides no appraisal rights.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Business
    Combination Statutes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, any plan of merger or consolidation shall be
    authorized by the holders of a majority of the outstanding
    shares entitled to vote thereon. In addition, any sale, lease,
    exchange or other disposition of all or substantially all the
    assets of a Marshall Islands corporation, if not made in the
    usual or regular course of the business actually conducted by
    such corporation, requires the affirmative vote of the holders
    of at least two-thirds of the outstanding shares entitled to
    vote thereon, unless any class of shares is entitled to vote
    thereon as a class, in which event such authorization shall
    require the affirmative vote of the holders of a majority of the
    shares of each class of shares entitled to vote as a class
    thereon and of the total shares entitled to vote thereon.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, unless otherwise provided in the partnership
    agreement, a merger or consolidation shall be approved by
    (i)&#160;by all general partners, and (ii)&#160;by the limited
    partners or, if there is more than one class or group of limited
    partners, then by each class or group of limited partners, in
    either case, by limited partners who own more than 50% of the
    then current percentage or other interest in the profits of the
    limited partnership owned by all of the limited partners or by
    the limited partners in each class or group, as appropriate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that any merger or
    consolidation of the partnership requires the approval of
    CPLP&#146;s Board and the prior consent of the general partner
    after which it must be approved by the affirmative vote the
    holders of at least a majority of the outstanding CPLP common
    units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Nevertheless, under the partnership agreement, the approval of
    the limited partners is not required:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to convert CPLP or any if its subsidiaries into a new limited
    liability entity, to merge CPLP or any subsidiary into, or
    convey all of CPLP&#146;s assets to, another limited liability
    entity which shall be newly formed and shall have no assets,
    liabilities or operations at the time of such conversion, merger
    or conveyance other than those it receives from CPLP or a
    subsidiary if (i)&#160;the conversion, merger or conveyance, as
    the case may be, would not result in the loss of the limited
    liability of any limited partner, (ii)&#160;the sole purpose of
    such conversion, merger or conveyance is to effect a mere change
    in the legal form of CPLP into another limited liability entity
    and (iii)&#160;the governing instruments of the new entity
    provide the limited partners, the general partner and the CPLP
    Board with the same rights and obligations as are herein
    contained;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to merge or consolidate CPLP with or into another entity if
    (i)&#160;the merger or consolidation, as the case may be, would
    not result in the loss of the limited liability of any limited
    partner, (ii)&#160;the merger or consolidation would not result
    in an amendment to partnership agreement other than any
    amendments that under the partnership agreement could be adopted
    by the CPLP Board and general partner without the consent of the
    limited partners, (iii)&#160;CPLP is the surviving entity in
    such merger or consolidation, (iv)&#160;each common unit
    outstanding immediately prior to the effective date of the
    merger or consolidation is to be an identical common unit of
    CPLP after the effective date of the merger or consolidation,
    and (v)&#160;the number of new common units to be issued by CPLP
    in such merger or consolidation does not exceed 20% of the
    common units outstanding immediately prior to the effective date
    of such merger or consolidation.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Action by
    Written Consent</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, any action required to, or that may, be taken
    by a shareholder meeting may be taken without a meeting if a
    written consent to such action is signed by all the shareholders
    entitled to vote with respect thereto.
</DIV>
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    <BR>
    116
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If authorized by the CPLP Board, any action that may be taken at
    a meeting of the unitholders may be taken without a meeting if
    an approval in writing setting forth the action so taken is
    signed by unitholders owning not less than the minimum
    percentage of the outstanding units (including units deemed
    owned by the general partner) that would be necessary to
    authorize or take such action at a meeting at which all the
    unitholders were present and voted (unless such provision
    conflicts with any rule, regulation, guideline or requirement of
    Nasdaq, in which case the rule, regulation, guideline or
    requirement of Nasdaq shall govern). Prompt notice of the taking
    of action without a meeting shall be given to the unitholders
    who have not approved the action in writing.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Special
    Meetings</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, a special meeting of shareholders may be called
    by the board of directors or by such persons as authorized by
    the articles of incorporation or bylaws. At such meeting, only
    business that is related to the purpose set forth in the
    required notice may be transacted. Under the MIBCA, notice of
    any shareholder meeting must state the purpose of such meeting
    and that it is being called at the direction of whoever is
    calling the meeting. Crude&#146;s amended and restated bylaws
    provide that other than a special meeting in lieu of an annual
    meeting and except as otherwise provided by applicable law,
    special meetings of the shareholders may be called only by the
    chairman of the Crude Board or Chief Executive Officer, in
    either case at the direction of the Crude Board as approved by a
    majority of the entire Crude Board. Only such business as is
    specified in the notice of any special meeting of the
    shareholders may come before such meeting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that special meetings of
    the unitholders may be called by the general partner, the CPLP
    Board or by unitholders owning 20% or more of the outstanding
    units of the class or classes for which a meeting is proposed.
    Unitholders may call a special meeting by delivering to the CPLP
    Board one or more requests in writing indicating the general or
    specific purposes for which the special meeting is to be called,
    it being understood that the purposes of such special meeting
    may only be to vote on matters that require the vote of the
    unitholders pursuant to the CPLP Partnership Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Amendments
    to Governing Documents</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, an amendment to the articles of incorporation
    may be authorized by the holders of a majority of all
    outstanding shares entitled to vote thereon. In addition, and
    notwithstanding any provision in the articles of incorporation
    to the contrary, if an amendment would increase or decrease the
    aggregate number of authorized shares of any class, or alter or
    change the powers, preferences or special rights of the shares
    of such class so as to affect them adversely, the amendment
    shall be authorized by a vote of the holders of a majority of
    all outstanding shares of such class. If any proposed amendment
    would alter or change the powers, preferences, or special rights
    of one or more series of any class so as to affect them
    adversely, but would not affect the entire class, then only the
    shares of the series so affected by the amendment shall be
    considered a separate class for purposes of this section.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Crude Board is expressly authorized to make, alter or repeal
    any bylaw of Crude by a vote of not less than a majority of the
    members of the Crude Board then in office, and the shareholders
    may not make additional bylaws and may not alter or repeal any
    bylaw except by the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the aggregate voting power of the voting stock. The
    affirmative vote of more than 50% of the voting power of the
    voting stock shall be required to amend, alter, change or repeal
    the Crude amended and restated articles of incorporation, except
    for certain provisions for which the affirmative vote of not
    less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the aggregate voting power of the voting stock is required.
</DIV>
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    <BR>
    117
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The MILPA does not provide any provisions for amending a
    partnership agreement. Under the Marshall Islands Revised
    Partnership Act, a &#147;partnership agreement&#148; may be
    written, oral or implied, and need not be executed, and a
    partnership agreement may provide for the taking of an action,
    including the amendment of the partnership agreement, without
    the vote or approval of any partner or class or group of
    partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, the CPLP Board, without
    the approval of any unitholder, but with the approval of the
    general partner required for any such amendment, may amend
    certain provisions of the CPLP Partnership Agreement. In
    general, the affirmative vote of a majority of common units (or
    in certain cases a higher percentage), is required in order to
    amend the provisions of the CPLP Partnership Agreement or to
    reach certain decisions or actions, including: amendments to the
    definition of available cash, operating surplus, adjusted
    operating surplus; changes in CPLP&#146;s cash distribution
    policy; elimination of the obligation to pay the minimum
    quarterly distribution; elimination of the obligation to hold an
    annual general meeting; removal of any appointed director for
    cause; transfer of the general partner interest; transfer of the
    incentive distribution rights; the ability of the board to sell,
    exchange or otherwise dispose of all or substantially all of
    CPLP&#146;s assets; resolution of conflicts of interest;
    withdrawal of the general partner; removal of the general
    partner; dissolution of CPLP; change to the quorum requirements;
    approval of merger or consolidation; and any amendment to the
    CPLP Partnership Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Indemnification
    of Directors and Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, for actions not by or in the right of a
    Marshall Islands corporation, the corporation may indemnify any
    person who was or is a party to any threatened or pending action
    or proceeding by reason of the fact that such person is or was a
    director or officer of the corporation against expenses
    (including attorney&#146;s fees), judgments, fines and amounts
    paid in settlement actually and reasonably incurred in
    connection with such action, suit or proceeding if such person
    acted in good faith and in a manner reasonably believed to be in
    or not opposed to the best interests of the corporation, and,
    with respect to any criminal action or proceeding, had no
    reasonable cause to believe that such conduct was unlawful.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, under the MIBCA, in actions brought by or in right
    of a Marshall Islands corporation, any agent who is or is
    threatened to be made party can be indemnified for expenses
    (including attorney&#146;s fees) actually and reasonably
    incurred in connection with the defense or settlement of the
    action if such person acted in good faith and in a manner
    reasonably believed to be in or not opposed to the best
    interests of the corporation, provided that indemnification is
    not permitted with respect to any claims in which such person
    has been found liable for negligence or misconduct with respect
    to the corporation unless the appropriate court determines that
    despite the adjudication of liability such person is fairly and
    reasonably entitled to indemnity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s amended and restated bylaws provide that Crude
    shall indemnify and hold harmless, to the fullest extent
    permitted by applicable law, any person that was or is made or
    is threatened to be made a party or is otherwise involved in any
    action, suit or proceeding, whether civil, criminal,
    administrative, legislative or investigative, by reason of the
    fact that such person is or was a director or officer of Crude
    or, while a director or officer of Crude, is or was serving at
    the request of Crude as a director, officer, employee or agent
    of another corporation or of a partnership, joint venture,
    trust, enterprise or nonprofit entity, including service with
    respect to employee benefit plans, against all liability and
    loss suffered and expenses (including attorneys&#146; fees)
    reasonably incurred by such person in connection with any such
    proceeding or any claim made in connection therewith.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, a partnership agreement may set forth that the
    partnership shall indemnify and hold harmless any partner or
    other person from and against any and all claims and demands
    whatsoever.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that to the fullest
    extent permitted by law, but subject to the limitations
    expressly provided in the CPLP Partnership Agreement, the
    general partner, the CPLP Board and
</DIV>
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    <BR>
    118
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    any other person the CPLP Board decides, shall be indemnified
    and held harmless by CPLP from and against any and all losses,
    claims, damages, liabilities, joint or several, expenses
    (including legal fees and expenses), judgments, fines,
    penalties, interest, settlements or other amounts arising from
    any and all claims, demands, actions, suits or proceedings,
    whether civil, criminal, administrative or investigative, in
    which such person may be involved, or is threatened to be
    involved, as a party or otherwise, provided, however, that such
    person shall not be indemnified and held harmless if there has
    been a final and non-appealable judgment entered by a court of
    competent jurisdiction determining that, in respect of the
    matter for which the person is seeking indemnification, the
    person acted in bad faith or engaged in fraud or willful
    misconduct or, in the case of a criminal matter, acted with
    knowledge that his or her conduct was unlawful; and, provided
    further, that indemnification shall be available to the general
    partner or its affiliates only for obligations incurred on
    behalf of CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, each CPLP director is
    reimbursed for
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses in connection with attending meetings of the CPLP Board
    or committees and is fully indemnified by CPLP for actions
    associated with being a director to the fullest extent permitted
    under Marshall Islands law, provided that indemnification is not
    available where there has been a final, non-appealable judgment
    entered by a court of competent jurisdiction that the director
    acted in bad faith or engaged in fraud or willful misconduct.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Limitations
    on Personal Liability of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, directors and officers shall
    discharge their duties in good faith and with that degree of
    diligence, care and skill which ordinarily prudent people would
    exercise under similar circumstances in like positions. In
    discharging their duties, directors and officers may rely upon
    financial statements of the corporation represented to them to
    be correct by the president or the officer having charge of its
    books or accounts or by independent accountants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The MIBCA provides that the articles of incorporation of a
    Marshall Islands company may include, and Crude&#146;s amended
    and restated articles of incorporation do include, a provision
    for the elimination or limitation of liability of a director to
    the corporation or its shareholders for monetary damages for
    breach of fiduciary duty as a director, provided that such
    provision shall not eliminate or limit the liability of a
    director:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any breach of the director&#146;s duty of loyalty to the
    corporation or its shareholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for acts or omissions not undertaken in good faith or which
    involve intentional misconduct or a knowing violation of
    law;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any transaction from which the director derived an improper
    personal benefit.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To the fullest extent permitted by the MIBCA or any other law of
    the Republic of the Marshall Islands, no director of Crude shall
    be liable to Crude or its shareholders for monetary damages for
    actions taken in their capacity as director or officer of Crude,
    provided that such provision shall not eliminate or limit the
    liability of a director for those actions identified above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The MILPA has no provision on personal liability of directors
    and any provisions to this effect must be set out in the limited
    partnership agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that no indemnitee shall
    be liable for monetary damages to CPLP, the unitholders or any
    other persons who have acquired an equity interest in any other
    CPLP securities, for losses sustained or liabilities incurred as
    a result of any act or omission of an indemnitee unless there
    has been a final and non-appealable judgment entered by a court
    of competent jurisdiction determining that, in respect of the
    matter in question, the indemnitee acted in bad faith or engaged
    in fraud or willful misconduct or, in the case of a criminal
    matter, acted with knowledge that the indemnitee&#146;s conduct
    was criminal.
</DIV>
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    <BR>
    119
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Preemptive
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, unless provided otherwise in the articles of
    incorporation, the holders of any class of capital stock shall
    have specified preemptive rights.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As provided in Crude&#146;s amended and restated articles of
    incorporation, the holders of shares of Crude common stock have
    no conversion, redemption or preemptive rights to subscribe to
    any of Crude&#146;s securities. The holders of Crude
    Class&#160;B stock have preemptive rights to subscribe to any
    issuance of Crude Class&#160;B stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, neither the general partner nor a limited
    partner has any preemptive rights, but such rights may be set
    out in the limited partnership agreement or other agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, except for the general
    partner&#146;s right to, upon the issuance of additional common
    units by CPLP, make capital contributions in exchange for a
    proportionate number of common units, no person shall have any
    preemptive, preferential or other similar right with respect to
    an issuance of common units or any other CPLP equity security,
    whether unissued, held in the treasury or thereafter created.
    The general partner shall have the right, which it may from time
    to time assign in whole or in part to any of its affiliates, to
    purchase common units or any other CPLP security from CPLP
    whenever, and on the same terms that, CPLP issues common units
    or any other CPLP equity security to persons other than the
    general partner and its affiliates, to the extent necessary to
    maintain the ownership interest of the general partner and its
    affiliates equal to that which existed immediately prior to the
    issuance of such common units or other CPLP equity security.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Cumulative
    Voting Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amended and restated articles of incorporation of Crude
    provide that cumulative voting is not permitted for the election
    of directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement does not provide for cumulative
    voting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Dividends
    and Stock Repurchases</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, a Marshall Islands corporation may declare and
    pay dividends in cash, stock or other property on its
    outstanding shares, except when the corporation is insolvent or
    would thereby be made insolvent or when the declaration or
    payment would be contrary to any restrictions contained in the
    articles of incorporation. Dividends may be paid out of surplus
    only, but in the event there is no surplus, dividends may be
    declared or paid out of net profits for the fiscal year in which
    the dividend is declared and for the preceding fiscal year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividends upon the capital stock of Crude may be declared by the
    Crude Board at any regular or special meeting, and may be paid
    in cash, in property or in securities of Crude. Before payment
    of any dividend, there may be set aside out of any funds of
    Crude available for dividends such sum or sums as Crude Board
    from time to time, in its absolute discretion, deems proper as a
    reserve or reserves to meet contingencies, or for purchasing any
    of the shares of capital stock, warrants, rights, options,
    bonds, debentures, notes, scrip or other securities or evidences
    of indebtedness of Crude, or for equalizing dividends, or for
    repairing or maintaining any property of Crude, or for any
    proper purpose, and the Crude Board may modify or abolish any
    such reserve.
</DIV>
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    <BR>
    120
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, a limited partnership shall not make a
    distribution to a partner to the extent that at the time of the
    distribution, after giving effect to the distribution, all
    liabilities of the limited partnership, other than liabilities
    to partners on account of their partnership interests and
    liabilities for which the recourse of creditors is limited to
    specified property of the limited partnership, exceed the fair
    value of the assets of the limited partnership, except that the
    fair value of property that is subject to a liability for which
    the recourse of creditors is limited shall be included in the
    assets of the limited partnership only to the extent that the
    fair value of that property exceeds that liability. The MILPA
    has no provisions for the repurchase of common units similar to
    the repurchase by a corporation of its own stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that all available cash
    shall be distributed quarterly (after deducting expenses,
    including estimated maintenance and replacement capital
    expenditures and reserves), and contains detailed provisions for
    distribution among the general partner and the limited partners.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Record
    Date for Voting</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In order that Crude may determine the shareholders entitled to
    (i)&#160;notice of or vote at any meeting of the shareholders or
    any adjournment thereof, (ii)&#160;express consent to corporate
    action by written consent without a meeting unless otherwise
    provided in the amended and restated articles of incorporation,
    (iii)&#160;receive payment of any dividend or other distribution
    or allotment of any rights, or exercise any rights in respect of
    any change, conversion or exchange of stock, or
    (iv)&#160;undertake any other lawful action, the Crude Board may
    fix a record date, which shall not precede the date upon which
    the resolution fixing the record date is adopted by the Crude
    Board and which record date shall, unless otherwise required by
    law, not be, (a)&#160;in the case of clause&#160;(i) or
    (ii)&#160;above, more than 60 nor less than 15&#160;days before
    the date of such meeting or the date on which such action by
    written consent is required to occur, and (b)&#160;in the case
    of clauses&#160;(iii) and (iv)&#160;above, more than
    60&#160;days prior to such action.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, for purposes of
    determining the unitholders entitled to notice of or to vote at
    a meeting of the unitholders or to give approvals without a
    meeting, the CPLP Board may set a record date, which shall not
    be less than 10 nor more than 60&#160;days before (i)&#160;the
    date of the meeting (unless such requirement conflicts with any
    rule, regulation, guideline or requirement of Nasdaq, in which
    case the rule, regulation, guideline or requirement of the
    Nasdaq shall govern) or (ii)&#160;in the event that approvals
    are sought without a meeting, the date by which unitholders are
    requested in writing by the CPLP Board to give such approvals.
    If the CPLP Board does not set a record date, then (i)&#160;the
    record date for determining the unitholders entitled to notice
    of or to vote at a meeting of the unitholders shall be the close
    of business on the day next preceding the day on which notice is
    given, and (ii)&#160;the record date for determining the
    unitholders entitled to give approvals without a meeting shall
    be the date the first written approval is deposited with CPLP in
    care of the CPLP Board.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Notice of
    Meetings</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, notice of any shareholder meeting must be given
    not less than 15 nor more than 60&#160;days before the meeting
    to each shareholder of record entitled to notice of the meeting,
    and shall state the place, date and hour of the meeting and, in
    the case of a special meeting, shall also state the purpose of
    such meeting and that the meeting is being called at the
    direction of whoever is calling the meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As provided in Crude&#146;s amended and restated articles of
    incorporation, notice of each meeting of the shareholders,
    whether annual or special, shall be given not less than
    15&#160;days nor more than 60&#160;days before the date of the
    meeting to each shareholder of record entitled to notice of the
    meeting. If mailed, such notice shall be deemed given when
    deposited in the mail, postage prepaid, directed to the
    shareholder at such shareholder&#146;s
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    address as it appears on the records of Crude or, if such
    shareholder shall have filed with Crude&#146;s secretary a
    written request that notices be sent to some other address, then
    directed to such shareholder at such other address. Each such
    notice shall state the place, date and hour of the meeting and,
    in the case of a special meeting, the purpose or purposes for
    which the meeting is called and by whose direction the notice of
    the meeting is being issued. Notice of any meeting of the
    shareholders shall not be required to be given to any
    shareholder who shall waive notice thereof as provided in
    Crude&#146;s amended and restated bylaws.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, the partnership agreement may set forth
    provisions relating to notice of the time, place or purpose of
    any meeting at which any matter is to be voted on by any limited
    partners, waiver of any such notice, action by consent without a
    meeting, the establishment of a record date, quorum
    requirements, voting in person or by proxy, or any other matter
    with respect to the exercise of any such right to vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that within 60&#160;days
    after receipt of a request for a special meeting by the
    unitholders or within such greater time as may be reasonably
    necessary for CPLP to comply with any statutes, rules,
    regulations, listing agreements or similar requirements
    governing the holding of a meeting or the solicitation of
    proxies for use at such a meeting, the CPLP Board shall send a
    notice of the meeting to the unitholders either directly or
    indirectly through the transfer agent.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Advance
    Notice of Shareholder Nominations for Directors and Shareholder
    Proposals</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s amended and restated bylaws provide that
    shareholders seeking to nominate candidates for election as
    directors or to bring business before an annual meeting of
    shareholders must provide timely notice of their proposal in
    writing to the corporate secretary. Generally, to be timely, a
    shareholder&#146;s notice must be received at Crude&#146;s
    principal executive offices not less than 90&#160;days or more
    than 120&#160;days before the anniversary date of the
    immediately precedent annual meeting or, for any special
    meeting, not earlier than the 120th&#160;day prior to such
    special meeting and not later than the close of business on the
    later of the 90th&#160;day prior to such special meeting or the
    tenth day following the day on which public announcement of the
    date of such meeting is first made. Crude&#146;s amended and
    restated bylaws also specify requirements as to the form and
    content of a shareholder&#146;s notice.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, any unitholder or group of
    unitholders that beneficially owns 10% or more of the
    outstanding common units shall be entitled to nominate one or
    more individuals to stand for election as elected directors at
    an annual meeting by providing written notice thereof to the
    CPLP Board not more than 120&#160;days and not less than
    90&#160;days prior to the date of such annual meeting; provided,
    however, that in the event that the date of the annual meeting
    was not publicly announced by CPLP by mail, press release or
    otherwise more than 100&#160;days prior to the date of such
    meeting, such notice, to be timely, must be delivered to the
    CPLP Board not later than the close of business on the tenth day
    following the date on which the date of the annual meeting was
    announced.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Inspection
    of Corporate Records</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MIBCA, any shareholder, during the usual hours of
    business, may inspect, for a purpose reasonably related to its
    interest as a shareholder, and make copies of extracts, from the
    share register, books of account, and minutes of all proceedings
    of Marshall Islands companies. The right of inspection may not
    be limited in the articles of incorporation or bylaws. A list of
    registered shareholders must be produced at any meeting of
    shareholders upon request of any shareholder at the meeting or
    prior thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any records maintained by Crude in the regular course of its
    business, including its stock ledger, books of account and
    minute books, are kept on, or are in the form of, magnetic tape,
    computer disks, photographs,
</DIV>
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    <BR>
    122
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    microphotographs or any other information storage device,
    provided that the records so kept will be able to be converted
    into clearly legible form within a reasonable time. Crude will
    convert any records upon the request of any person entitled to
    inspect them.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the MILPA, each limited partner has the right, subject to
    such reasonable standards (including standards governing what
    information and documents are to be furnished, at what time and
    location and at whose expense) as may be set forth in the
    partnership agreement or otherwise established by the general
    partner, to obtain from the general partner from time to time
    upon reasonable demand for any purpose reasonably related to the
    limited partner&#146;s interest as a limited partner
    (i)&#160;true and full information regarding the status of the
    business and financial condition of the limited partnership,
    (ii)&#160;a copy of the limited partnership&#146;s financial
    statements or income tax returns, (iii)&#160;a current list of
    the name and mailing address of each partner, (iv)&#160;a copy
    of any written partnership agreement and certificate of limited
    partnership and all amendments thereto with copies of any
    written powers of attorney pursuant to which the partnership
    agreement and any certificate and all amendments thereto have
    been executed, (v)&#160;information regarding the amount of cash
    and a description and statement of the agreed value of any other
    property or services contributed by each partner and which each
    partner has agreed to contribute in the future, and the date on
    which each became a partner, and (vi)&#160;other information
    regarding the affairs of the limited partnership as is just and
    reasonable. However, a general partner has the right to keep
    confidential from limited partners for such period of time as
    the general partner deems reasonable, any information which the
    general partner reasonably believes to be in the nature of trade
    secrets or other information the disclosure of which the general
    partner in good faith believes is not in the best interest of
    the limited partnership or could damage the limited partnership
    or its business or which the limited partnership is required by
    law or by agreement with a third party to keep confidential. The
    rights of a limited partner to obtain the above-mentioned
    information may only be restricted in an original partnership
    agreement or in any subsequent amendment approved or adopted by
    all of the partners and in compliance with any applicable
    requirements of the partnership agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that a unitholder can,
    for a purpose reasonably related to his interest as a
    unitholder, upon reasonable demand and at the unitholder&#146;s
    own expense, have furnished to the unitholder: (i)&#160;a
    current list of the name and last known address of each partner;
    (ii)&#160;information as to the amount of cash, and a
    description and statement of the agreed value of any other
    property or services, contributed or to be contributed by each
    partner and the date on which each became a partner;
    (iii)&#160;copies of the CPLP Partnership Agreement, the
    certificate of limited partnership of the partnership, related
    amendments and powers of attorney under which they have been
    executed; (iv)&#160;information regarding the status of
    CPLP&#146;s business and financial position; and (v)&#160;any
    other information regarding CPLP&#146;s affairs as is just and
    reasonable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Interested
    Director Transactions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Crude</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The MIBCA provides that a transaction entered into by Crude in
    which a director has an interest will not be voidable by Crude,
    and such director will not be liable to Crude for any profit
    realized pursuant to such transaction as a result of such
    interest, provided the nature of the interest is disclosed at
    the first opportunity at a meeting of directors, or in writing,
    to the directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">CPLP</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    While the MILPA contains no provisions regarding transactions in
    which a director has an interest, the partnership agreement may
    set forth rules relating thereto.
</DIV>
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    <BR>
    123
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='Y91492209'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">APPRAISAL
    RIGHTS OF DISSENTING SHAREHOLDERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Marshall Islands law, a shareholder of a corporation has
    the right to vote against any plan of merger to which the
    corporation is a party. If such shareholders vote against the
    plan of merger, they may have the right to seek payment from
    their corporation of the appraised fair value of their shares
    (instead of the contractual merger consideration). However, the
    right of a dissenting shareholder to receive payment of the
    appraised fair value of his shares is not available if the
    shares of such class or series of stock are (i)&#160;listed on a
    securities exchange or (ii)&#160;held of record by more than
    2,000 holders. Since shares of Crude common stock are traded on
    the NYSE, a dissenting holder of shares of Crude common stock
    has no right to receive payment from Crude for the appraised
    fair market value of his shares under Marshall Islands law.
    Furthermore, pursuant to the Support Agreement, CCIC, as the
    sole holder of Crude Class&#160;B stock, has waived any
    appraisal rights it might have under Marshall Islands law.
</DIV>

<A name='Y91492210'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The validity of the common units of CPLP offered hereby will be
    passed upon for CPLP by Watson, Farley&#160;&#038; Williams (New
    York) LLP, Marshall Islands counsel to CPLP.
    Sullivan&#160;&#038; Cromwell LLP, U.S.&#160;counsel to Crude,
    will deliver an opinion to Crude concerning certain
    U.S.&#160;federal tax consequences of the proposed transaction,
    Akin Gump Strauss Hauer&#160;&#038; Feld LLP, special tax
    counsel to CPLP, will deliver an opinion to CPLP concerning
    certain U.S.&#160;federal tax consequences of the proposed
    transaction and Watson, Farley&#160;&#038; Williams (New York)
    LLP, Marshall Islands counsel to Crude, will deliver an opinion
    to Crude concerning certain Marshall Islands tax consequences of
    the proposed transaction.
</DIV>

<A name='Y91492211'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements of CPLP, incorporated in
    this proxy statement/prospectus by reference from CPLP&#146;s
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010, and the effectiveness
    of CPLP&#146;s internal control over financial reporting have
    been audited by Deloitte. Hadjipavlou, Sofianos&#160;&#038;
    Cambanis S.A., an independent registered public accounting firm,
    as stated in their reports, which are incorporated herein by
    reference (which reports (1)&#160;express an unqualified opinion
    on the consolidated financial statements and include explanatory
    paragraphs relating to: (i)&#160;the preparation of the portion
    of the financial statements attributable to the Ross
    Shipmanagement Co., Baymont Enterprises Incorporated, Forbes
    Maritime Co., Mango Finance Co., Navarro International S.A.,
    Epicurus Shipping Company, and Adrian Shipholding Inc., prior to
    the vessels&#146; acquisition by CPLP, from the separate records
    maintained by Capital Maritime, and (ii)&#160;the retroactive
    adjustments to previously issued financial statements resulting
    from transactions between entities under common control and
    (2)&#160;express an unqualified opinion on the effectiveness of
    CPLP&#146;s internal control over financial reporting). Such
    consolidated financial statements have been so incorporated in
    reliance upon the reports of such firm given upon their
    authority as experts in accounting and auditing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements of Crude, incorporated in
    this proxy statement/prospectus by reference from Crude&#146;s
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010, have been audited by
    Deloitte. Hadjipavlou, Sofianos&#160;&#038; Cambanis S.A., an
    independent registered public accounting firm, as stated in
    their report, which is incorporated herein by reference. Such
    consolidated financial statements have been so incorporated in
    reliance upon the reports of such firm given upon their
    authority as experts in accounting and auditing.
</DIV>

<A name='Y91492212'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">FUTURE
    SHAREHOLDER PROPOSALS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the merger is completed, Crude will no longer be a publicly
    held company, and there will be no Crude annual meeting of
    shareholders in 2011 or thereafter. However, if the merger is
    not completed, Crude shareholders will continue to be entitled
    to attend and participate in its shareholders&#146; meetings,
    and Crude will hold a 2011 annual meeting of shareholders.
    Crude&#146;s amended and restated bylaws require that Crude be
    given advance written notice of any matters which shareholders
    wish to present for action at an annual meeting. The
</DIV>
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    <BR>
    124
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Secretary must receive such notice not less than 90&#160;days
    nor more than 120&#160;days prior to the anniversary date of the
    immediately preceding annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If Crude holds an annual meeting of shareholders in 2011,
    shareholder proposals to be presented at that meeting must be
    received by Crude at its principal executive offices at 3
    Iassonos Street, Piraeus, 18357 Greece, addressed to the
    Secretary, not earlier than&#160;&#160;&#160;&#160;, nor later
    than&#160;&#160;&#160;&#160;,&#160;&#160;&#160;&#160;. Such
    proposals must comply with Crude&#146;s amended and restated
    bylaws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A copy of the full text of Crude&#146;s amended and restated
    bylaws as of the date of this proxy statement/prospectus is
    attached as Exhibit&#160;3.2. Any proposals, nominations or
    notices should be sent to 3&#160;Iassonos Street, Piraeus, 18357
    Greece.
</DIV>

<A name='Y91492213'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of Crude and CPLP files annual reports with and furnishes
    other reports and information to the SEC. You may read and copy
    any document Crude or CPLP files with or furnishes to the SEC at
    the SEC&#146;s public reference room at 100&#160;F&#160;Street,
    N.E., Room&#160;1580, Washington,&#160;D.C. 20549. You may also
    obtain documents Crude and CPLP file with or furnish to the SEC
    on the SEC website at <U>www.sec.gov.</U> The address of the
    SEC&#146;s website is provided solely for the information of
    prospective investors and is not intended to be an active link.
    Please visit the website or call the SEC at 1
    <FONT style="white-space: nowrap">(800)&#160;732-0330</FONT>
    for further information about its public reference room. Reports
    and other information concerning the business of Crude may also
    be inspected at the offices of the NYSE at 20&#160;Broad Street,
    New York, New York 10005, and of CPLP at the offices of Nasdaq
    at One Liberty Plaza, 165 Broadway, New York, NY 10006.
</DIV>

<A name='Y91492214'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INCORPORATION
    OF CERTAIN DOCUMENTS BY REFERENCE</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The SEC allows Crude and CPLP to &#147;incorporate by
    reference&#148; certain information filed with or furnished to
    the SEC, which means that Crude and CPLP can disclose important
    information to you by referring you to those documents. The
    information incorporated by reference is an important part of
    this proxy statement/prospectus. With respect to this proxy
    statement/prospectus, information that Crude or CPLP later file
    with or furnish to the SEC and that is incorporated by reference
    will automatically update and supersede information in this
    proxy statement/prospectus and information previously
    incorporated by reference into this proxy statement/prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each document incorporated by reference into this proxy
    statement/prospectus is current only as of the date of such
    document, and the incorporation by reference of such document is
    not intended to create any implication that there has been no
    change in the affairs or Crude or CPLP since the date of the
    relevant document or that the information contained in such
    document is current as of any time subsequent to its date. Any
    statement contained in such incorporated documents is deemed to
    be modified or superseded for the purpose of this proxy
    statement/prospectus to the extent that a subsequent statement
    contained in another document that is incorporated by reference
    into this proxy statement/prospectus at a later date modifies or
    supersedes that statement. Any such statement so modified or
    superseded will not be deemed, except as so modified or
    superseded, to constitute a part of this proxy
    statement/prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This proxy statement/prospectus incorporates by reference the
    documents listed below, which Crude and CPLP have previously
    filed with or furnished to the SEC. These documents contain
    important information about Crude and CPLP and their financial
    condition, business and results.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Crude
    Filings (File
    <FONT style="white-space: nowrap">No.&#160;001-34651)</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the fiscal year ended December&#160;31, 2010;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Current Reports on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished on February&#160;11, 2011 (Earnings Release and
    Announcement of Quarterly Cash Dividend), March&#160;14, 2011
    (Appointment of Dimitris P. Christacopoulos to Board of
    Directors), May&#160;5, 2011 (Announcement of merger with CPLP),
    May&#160;13, 2011 (Q1 2011 Earnings
</TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    125
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    Release), and June&#160;9, 2011 (Q1 2011 Unaudited Condensed
    Consolidated Financial Statements with Related Notes).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">CPLP
    Filings (File
    <FONT style="white-space: nowrap">No.&#160;001-33373):</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Registration statement on
    <FONT style="white-space: nowrap">Form&#160;F-1,</FONT>
    dated March&#160;29, 2007;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the fiscal year ended December&#160;31, 2010;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Current Reports on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished on January&#160;21, 2011 (Announcement of Cash
    Distribution), April&#160;21, 2011 (Announcement of Cash
    Distribution), May&#160;5, 2011 (Q1 2011 Earnings Release and
    Announcement of merger with Crude) and June&#160;9, 2011 (Q1
    2011 Unaudited Condensed Consolidated Financial Statements with
    Related Notes);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CPLP&#146;s amended and restated limited partnership agreement,
    furnished in CPLP&#146;s Current Report on
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished on February&#160;24, 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of Crude and CPLP is also incorporating by reference
    additional documents that each files with the SEC between the
    date of this proxy statement/prospectus and the date of the
    Crude special meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude has supplied all information contained or incorporated by
    reference in this proxy statement/prospectus relating to Crude,
    and CPLP has supplied all information contained or incorporated
    by reference in this proxy statement/prospectus relating to CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You may obtain copies of these documents in the manner described
    above under the section captioned &#147;Where You Can Find More
    Information.&#148; You may also request copies of these
    documents (excluding exhibits) at no cost by contacting Crude or
    CPLP, as applicable, as follows:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">For Crude
    filings:<BR>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">Crude
    Carriers Corp.<BR>
    Investor Relations Representative<BR>
    Nicolas Bornozis, President<BR>
    Capital Link, Inc.<BR>
    230 Park Avenue&#160;&#151; Suite&#160;1536<BR>
    New York, NY 10160, USA<BR>
    Tel: +1 212
    <FONT style="white-space: nowrap">661-7566</FONT>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">For CPLP
    filings:<BR>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">Capital
    Product Partners L.P.<BR>
    Investor Relations Representative<BR>
    Nicolas Bornozis, President<BR>
    Capital Link, Inc.<BR>
    230 Park Avenue&#160;&#151; Suite&#160;1536<BR>
    New York, NY 10160, USA<BR>
    Tel: +1 212
    <FONT style="white-space: nowrap">661-7566</FONT>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You should rely on the information contained in or incorporated
    by reference into this proxy statement/prospectus to vote on the
    proposals to Crude shareholders in connection with the proposed
    transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have not authorized anyone to provide you with information
    that is different from what is contained in this proxy
    statement/prospectus. This prospectus is dated June&#160;9,
    2011. You should not assume that the information contained or
    incorporated by reference in this proxy statement/prospectus is
    accurate as of any date other than the date of this proxy
    statement/prospectus or the date of such information
    incorporated by reference, as applicable, and neither the
    mailing of the proxy statement/prospectus to shareholders nor
    the issuance of CPLP common units in the proposed transaction
    shall create any implication to the contrary.
</DIV>
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    <BR>
    126
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492215'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LIMITATIONS
    ON ENFORCEMENT OF U.S. LAWS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because Crude and CPLP are Marshall Islands entities
    headquartered in Greece, many of their directors and executive
    officers (as well as certain directors, managers and executive
    officers of their respective subsidiaries), and certain experts
    named in this proxy statement/prospectus, reside outside the
    United States. As a result, it may be difficult for you to serve
    legal process on Crude, CPLP or the directors and executive
    officers of Crude and CPLP (as well as certain directors,
    managers and executive officers of their respective
    subsidiaries) or have any of them appear in a U.S.&#160;court.
    In addition, U.S.&#160;investors may find it difficult in a
    lawsuit based on the civil liability provisions of the
    U.S.&#160;federal securities laws to enforce in U.S.&#160;courts
    or outside the U.S.&#160;judgments obtained against those
    persons in U.S.&#160;courts, to enforce in U.S.&#160;courts
    judgments obtained against those persons in courts in
    jurisdictions outside the U.S., or to enforce against those
    persons in the Marshall Islands or Greece, whether in original
    actions or in actions for the enforcement of judgments of
    U.S.&#160;courts, civil liabilities based solely upon the
    U.S.&#160;federal securities laws.
</DIV>
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    <BR>
    127
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;A</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>AGREEMENT AND PLAN OF MERGER<BR>
    by and among<BR>
    </B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CAPITAL GP L.L.C.<BR>
    CAPITAL PRODUCT PARTNERS L.P.<BR>
    POSEIDON PROJECT CORP.<BR>
    and<BR>
    CRUDE CARRIERS CORP.<BR>
    Dated as of May&#160;5, 2011</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="78%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;I<BR>
    CERTAIN DEFINITIONS
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 1.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Certain Definitions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;II<BR>
    THE MERGER; EFFECTS OF THE MERGER
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 2.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    The Merger
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 2.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Closing
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;III<BR>
    MERGER CONSIDERATION; EXCHANGE PROCEDURES
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 3.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Merger Consideration
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 3.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Rights As Unitholders; Unit Transfers
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 3.3
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Exchange of Certificates
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 3.4
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Anti-Dilution Provisions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 3.5
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Equity Awards
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;IV<BR>
    ACTIONS PENDING MERGER
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 4.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Covenants of the Company
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 4.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Covenants of the Partners Entities
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 4.3
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Governmental Filings
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;V<BR>
    REPRESENTATIONS AND WARRANTIES
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 5.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations and Warranties of the Company
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 5.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations and Warranties of the Partners Entities
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-27
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;VI<BR>
    COVENANTS
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Best Efforts
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-36
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Stockholder Approval
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-37
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.3
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Benefit Plans
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-37
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.4
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Registration Statement
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-37
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.5
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Press Releases
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-38
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.6
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Access; Information
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-38
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.7
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Acquisition Proposals; Change in Recommendation
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.8
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Affiliate Arrangements
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.9
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Takeover Laws
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Reserved
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.11
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    New Partners Common Units Listed
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.12
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Third Party Approvals
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.13
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Indemnification; Directors&#146; and Officers&#146; Insurance
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.14
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Notification of Certain Matters
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.15
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Distributions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.16
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Amendment of Omnibus Agreement
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.17
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Amendment of Partners Partnership Agreement; Partners Board
    Membership
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-44
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.18
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Qualification as Reorganization
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-44
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 6.19
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    MergerCo Obligations
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-45
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-i
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="78%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;VII<BR>
    CONDITIONS TO CONSUMMATION OF THE MERGER
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Stockholder Vote
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Governmental Approvals
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.3
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    No Actions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.4
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations, Warranties and Covenants of the Partners
    Entities
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.5
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations, Warranties and Covenants of the Company
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.6
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Other Approvals
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.7
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Effective Registration Statement
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.8
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Company Tax Opinion and Partners Tax Opinion
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.9
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    NASDAQ Listing
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 7.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Partners Partnership Agreement Amendment and Partners Omnibus
    Agreement Amendment
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-46
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;VIII<BR>
    TERMINATION
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 8.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Termination
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-47
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 8.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Effect of Termination
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-48
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ARTICLE&#160;IX<BR>
    MISCELLANEOUS
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.1
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Fees and Expenses
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-48
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.2
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Waiver; Amendment
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-49
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.3
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Counterparts
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-49
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.4
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Governing Law
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-49
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.5
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Confidentiality
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-49
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.6
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Notices
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-49
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.7
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Entire Understanding; No Third Party Beneficiaries
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-50
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.8
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Severability
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-50
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.9
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Headings
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-50
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.10
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Jurisdiction
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-51
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.11
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Waiver of Jury Trial
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-51
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.12
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Specific Performance
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-51
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.13
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Survival
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-51
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Section 9.14
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    No Act or Failure to Act
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-51
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="7">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="7" align="center" valign="top">
    ANNEXES
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Annex A
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    FORM&#160;OF SUPPORT AGREEMENT
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Annex B
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    AMENDED AND RESTATED ARTICLES&#160;OF INCORPORATION OF SURVIVING
    ENTITY
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    B-1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-variant: SMALL-CAPS">Annex C
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    AMENDED AND RESTATED BYLAWS OF SURVIVING ENTITY
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    C-1
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-ii
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">AGREEMENT
    AND PLAN OF MERGER</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This AGREEMENT AND PLAN OF MERGER, dated as of May&#160;5, 2011
    (this <B><I>&#147;Agreement&#148;</I></B>), is entered into by
    and among Capital Product Partners L.P., a Marshall Islands
    limited partnership (<B><I>&#147;Partners&#148;</I></B>),
    Capital GP L.L.C., a Marshall Islands limited liability company
    <I>(&#147;Partners GP&#148;)</I>, Poseidon Project Corp., a
    Marshall Islands corporation and a wholly-owned direct
    subsidiary of Partners (<B><I>&#147;MergerCo&#148;</I></B> and,
    together with Partners and Partners GP, <B><I>&#147;Partners
    Entities&#148;</I></B>), and Crude Carriers Corp., a Marshall
    Islands corporation (the <B><I>&#147;Company&#148;</I></B>).
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WITNESSETH:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the Company Board (as defined herein), upon the
    recommendation of the Company Independent Directors&#146;
    Committee (as defined herein), and the Partners Board (as
    defined herein), upon the recommendation of the Partners
    Conflicts Committee (as defined herein), have approved the
    business combination provided for herein, pursuant to which
    MergerCo will, subject to the terms and conditions set forth
    herein, merge with and into the Company, with the Company being
    the surviving entity (the <B><I>&#147;Merger&#148;</I></B>),
    such that following the Merger, Partners will be the sole
    stockholder of the Surviving Entity (as defined herein) and,
    upon the terms and conditions set forth herein, each share of
    Company Common Stock and Company Class&#160;B Stock will be
    converted into the right to receive the Merger Consideration
    (each, as defined herein);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the Company Board has, upon the recommendation of the
    Company Independent Directors&#146; Committee,
    (i)&#160;determined that it is in the best interests of the
    Company and the Company Unaffiliated Stockholders (as defined
    herein), and declared it advisable, to enter into this
    Agreement, (ii)&#160;approved this Agreement and the execution,
    delivery and performance by the Company of this Agreement and
    the consummation of the transactions contemplated thereby,
    including the Merger and (iii)&#160;resolved to recommend to the
    Stockholders (as defined herein) that they adopt and approve
    this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the Company Independent Directors&#146; Committee has
    determined that the Merger is fair and reasonable to, and in the
    best interests of, the Company and the Company Unaffiliated
    Stockholders (as defined herein);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the Partners Board has, upon the recommendation of the
    Partners Conflicts Committee, (i)&#160;determined that the
    business combination provided for herein is fair and reasonable
    to, and in the best interests of, Partners and its unitholders
    and (ii)&#160;approved this Agreement and the execution,
    delivery and performance by Partners of this Agreement and the
    consummation of the transactions contemplated thereby, including
    the Merger;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the Partners Conflicts Committee has determined that
    the Merger is fair and reasonable to, and in the best interests
    of the Partners and the Partners Unaffiliated Unitholders (as
    defined herein);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, in accordance with the Partners Partnership Agreement
    (as defined herein) and the MILPA (as defined herein), Partners
    GP has consented to the execution, delivery and performance by
    Partners of this Agreement and the consummation of the
    transactions contemplated hereby, including the Merger;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, simultaneously with, and as a condition to, the
    execution hereof, Evangelos M. Marinakis, Ioannis E. Lazaridis,
    Gerasimos G. Kalogiratos and Crude Carriers Investments Corp.
    are executing a support agreement with Partners substantially in
    the form of <U>Annex&#160;A</U> (the <B><I>&#147;Support
    Agreement&#148;</I></B>);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, the parties hereto desire to make certain
    representations, warranties and agreements in connection with
    the Merger and also to prescribe various conditions to the
    Merger.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-1
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    NOW, THEREFORE, in consideration of the premises and the
    respective representations, warranties, covenants, agreements
    and conditions contained herein, the parties hereto agree as
    follows:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;I<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">CERTAIN
    DEFINITIONS
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.1&#160;&#160;</FONT><I>Certain
    Definitions.</I>&#160;&#160;As used in this Agreement, the
    following terms shall have the meanings set forth below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Acquisition Proposal&#148;</I> shall mean any proposal
    or offer from or by any Person, whether in writing or otherwise,
    other than any Partners Entity, relating to (i)&#160;any direct
    or indirect acquisition of (A)&#160;20% or more of the assets
    (including stock or equity interests of a Subsidiary) of the
    Company and its Subsidiaries, taken as a whole, (B)&#160;20% or
    more of the outstanding equity securities of the Company or
    (C)&#160;a business or businesses that constitute 20% or more of
    the cash flow, net revenues, net income or assets of the Company
    and its Subsidiaries, taken as a whole; (ii)&#160;any tender
    offer or exchange offer, within the meaning of the Exchange Act,
    that, if consummated, would result in any Person beneficially
    owning securities representing 20% or more of the total voting
    power of the Company; or (iii)&#160;any merger, consolidation,
    amalgamation, business combination, recapitalization,
    liquidation, dissolution or similar transaction involving the
    Company or any Significant Company Subsidiary, other than the
    Merger, in the case of each of (i)&#160;&#151; (iii)&#160;above,
    whether pursuant to a single transaction or a series of
    transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Action&#148;</I> shall have the meaning set forth in
    <U>Section&#160;6.13(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Affiliate&#148;</I> shall have the meaning set forth in
    Rule&#160;405 of the Securities Act, unless otherwise expressly
    stated herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Agent&#148;</I> shall have the meaning set forth in
    <U>Section&#160;9.10(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Agreement&#148;</I> shall have the meaning set forth in
    the introductory paragraph to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Articles of Merger&#148;</I> shall have the meaning set
    forth in <U>Section&#160;2.1(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Assets&#148;</I> means all of the assets of every kind
    and nature (whether real, personal or mixed, tangible or
    intangible and including the Company Real Property or the
    Partners Real Property, as the case may be) used for the conduct
    of the business of the Company or the Partners Entities, as the
    case may be, and their respective Subsidiaries&#146; businesses
    as it is presently conducted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;beneficial ownership</I>,&#148; <I>&#147;beneficial
    owner&#148;</I> or any similar derivation thereof has the
    meaning ascribed to such terms under Section&#160;13(d) of the
    Exchange Act and the rules and regulations thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Book-Entry Shares&#148;</I> shall have the meaning set
    forth in <U>Section&#160;3.1(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Business Day&#148;</I> shall mean any day which is not
    a Saturday, Sunday or other day on which banks are authorized or
    required to be closed in the City of New York or the Republic of
    the Marshall Islands.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Capital Maritime&#148;</I> shall mean Capital
    Maritime&#160;&#038; Trading Corp., a Marshall Islands
    corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Capital Ship Management Corp.&#148;</I> means Capital
    Ship Management Corp., a company duly organized and existing
    under the laws of Republic of Panama.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Certificate&#148;</I> shall have the meaning set forth
    in <U>Section&#160;3.1(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Claim&#148;</I> shall have the meaning set forth in
    <U>Section&#160;6.13(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Closing&#148;</I> shall have the meaning set forth in
    <U>Section&#160;2.2</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Closing Date&#148;</I> shall have the meaning set forth
    in <U>Section&#160;2.2</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Code&#148;</I> shall mean the Internal Revenue Code of
    1986, as amended.
</DIV>
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    <BR>
    A-2
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company&#148;</I> shall have the meaning set forth in
    the introductory paragraph of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Articles of Incorporation&#148;</I> shall mean
    the Amended and Restated Articles of the Company effective as of
    March&#160;1, 2010, as they may be further amended from time to
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Board&#148;</I> shall mean the Board of
    Directors of the Company
    <FONT style="white-space: nowrap">and/or</FONT> a
    committee thereof, as applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Bylaws&#148;</I> means the Amended and Restated
    Bylaws of the Company, as they may be further amended from time
    to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Change in Recommendation&#148;</I> shall have
    the meaning set forth in <U>Section&#160;6.7(c)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Class&#160;B Stock&#148;</I> shall mean the
    Class&#160;B Stock, par value $0.0001 per share, of the Company,
    having the rights and obligations specified with respect to the
    Company Class&#160;B Stock in the Company Articles of
    Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Common Stock&#148;</I> shall mean the Common
    Stock, par value $0.0001 per share, of the Company, having the
    rights and obligations specified with respect to Company Common
    Stock in the Company Articles of Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Contract&#148;</I> shall have the meaning set
    forth in <U>Section&#160;5.1(l)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Credit Facility&#148;</I> shall mean that
    certain Amended and Restated Loan Agreement, dated as of
    September&#160;30, 2010, by and among the Company, Nordea Bank
    Finland PLC, as lead arranger and security trustee and the
    lenders party thereto, as it may be further amended from time to
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Director Designee&#148;</I> shall have the
    meaning set forth in <U>Section&#160;6.17(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Disclosure Schedule&#148;</I> shall have the
    meaning set forth in <U>Section&#160;5.1</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Employee&#148;</I> means any employee of the
    Company or its Subsidiaries, or an employee of Capital Ship
    Management Corp. who performs services for the Company or any of
    its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company 20-F&#148;</I> shall mean that certain
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed by the Company on April&#160;18, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Incentive Plan&#148;</I> shall mean the
    Company&#146;s 2010 Equity Incentive Plan, adopted March&#160;1,
    2010, as may be amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Independent Directors&#146; Committee&#148;</I>
    shall mean the Independent Directors&#146; Committee of the
    Company Board, consisting solely of independent directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Management Agreement&#148;</I> means that
    certain Management Agreement, dated as of March&#160;17, 2010,
    between the Company and Capital Ship Management Corp., as
    amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Meeting&#148;</I> shall have the meaning set
    forth in <U>Section&#160;6.2(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Necessary Consents&#148;</I> shall have the
    meaning set forth in <U>Section&#160;5.1(d)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Real Property&#148;</I> means all real property
    owned by the Company or its Subsidiaries or used for the conduct
    of the business of the Company or its Subsidiaries as it is
    presently conducted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Recommendation&#148;</I> shall have the meaning
    set forth in <U>Section&#160;6.2(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company SEC Documents&#148;</I> shall have the meaning
    set forth in <U>Section&#160;5.1(e)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Stock-Based Award&#148;</I> shall mean shares
    of Company Common Stock and other compensatory awards
    denominated in shares of Company Common Stock subject to a risk
    of forfeiture to, or right of repurchase by, the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Stockholder Approval&#148;</I> shall have the
    meaning set forth in <U>Section&#160;7.1</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Termination Fee&#148;</I> shall mean an amount
    equal to $9.0&#160;million in cash.
</DIV>
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    <BR>
    A-3
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Tax Opinion&#148;</I> shall have the meaning
    set forth in <U>Section&#160;6.18(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Unaffiliated Stockholder Approval&#148;</I>
    shall have the meaning set forth in <U>Section&#160;7.1</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Unaffiliated Stockholders&#148;</I> means the
    holders of shares of the Company Common Stock other than
    (a)&#160;Partners, (b)&#160;Partners GP, (c)&#160;the officers
    and directors of the Company that are also officers or directors
    of Partners or Partners GP, respectively, or (d)&#160;Affiliates
    of any of the foregoing or of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Company Vessels&#148;</I> shall have the meaning set
    forth in <U>Section&#160;5.1(p)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Compensation and Benefit Plans&#148;</I> shall mean,
    with respect to any entity, any employee compensation, benefit
    plan, program, policy, practice, agreement, contract or other
    arrangement providing benefits to any current or former
    employee, officer or director of such entity or any of its
    Subsidiaries or any beneficiary or dependent thereof that is
    sponsored or maintained by such entity or any of its
    Subsidiaries, or under which any employee who performs services
    for such entity receives any benefit, or to which such entity or
    any of its Subsidiaries contributes or is obligated to
    contribute or with respect to which such entity or any of its
    Subsidiaries may have any liability, contingent or otherwise,
    whether or not written, including, any employee welfare benefit
    plan within the meaning of Section&#160;3(1) of ERISA, any
    employee pension benefit plan within the meaning of
    Section&#160;3(2) of ERISA (whether or not such plan is subject
    to ERISA) and any bonus, incentive, deferred compensation,
    vacation, stock purchase, stock option, severance, employment,
    change of control or fringe benefit plan, program, policy or
    agreement and any related trusts or other funding vehicles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Confidentiality Agreement&#148;</I> shall mean a
    confidentiality agreement of the nature generally used in
    similar circumstances containing customary
    &#147;standstill&#148; and non-solicitation provisions, as
    determined by the Company in its reasonable business judgment,
    with terms and conditions no less restrictive on a Receiving
    Party than the NDA is with respect to Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Converted Company Stock-Based Award&#148;</I> shall
    have the meaning set forth in <U>Section&#160;3.5(a)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;DDTC&#148;</I> shall have the meaning set forth in the
    definition of &#147;Export and Sanctions Laws.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Denied Party Lists&#148;</I> shall mean a Person
    (i)&#160;subject to any restrictions under the Export and
    Sanctions Laws including those sanctions targeting government
    entities or individuals that support terrorism, or
    (ii)&#160;included on any denied, prohibited, or restricted
    party list maintained by the United States or any other
    applicable jurisdiction, including the U.S.&#160;Department of
    Commerce, Bureau of Industry and Security Denied Persons List,
    Entity List, Unverified List, the OFAC Specially Designated
    Nationals and Blocked Persons List, or the DDTC Debarred Parties
    List.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Disregarded MergerCo&#148;</I> shall have the meaning
    set forth in Section&#160;6.18(c).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Effective Time&#148;</I> shall have the meaning set
    forth in <U>Section&#160;2.1(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Environmental Laws&#148;</I> means any and all Laws,
    agreements between a Person and any Governmental Authority and
    rules of common law concerning or relating to public health and
    safety, worker/occupational health and safety, and pollution or
    protection of the environment, including those relating to the
    presence, use, manufacturing, refining, production, generation,
    handling, transportation, treatment, recycling, transfer,
    storage, disposal, distribution, importing, labeling, testing,
    processing, discharge, Release, threatened Release, control, or
    other action or failure to act involving cleanup of any
    Hazardous Substances, substances or wastes, chemical substances
    or mixtures, pesticides, pollutants, contaminants, toxic
    chemicals, petroleum products or byproducts, asbestos,
    polychlorinated biphenyls, noise, or radiation, including, but
    not limited to, the Comprehensive Environmental Response,
    Compensation, and Liability Act, 42&#160;U.S.C.
    Section&#160;9601 et seq., the Resource Conservation and
    Recovery Act, 42&#160;U.S.C. Section&#160;6901 et seq., the
    Clean Air Act, 42&#160;U.S.C. Section&#160;7401 et seq., the
    Federal Water Pollution Control Act, 33&#160;U.S.C.
    Section&#160;1251 et seq., the Oil Pollution Act of 1990,
    33&#160;U.S.C. Section&#160;2701 et seq., the Toxic Substances
    Control Act, 15&#160;U.S.C. Section&#160;2601 et seq., the Safe
    Drinking Water Act, 42&#160;U.S.C. Section&#160;300f et seq.,
    the Occupational Safety and Health Act, 29&#160;U.S.C.
    Section&#160;651 et seq.,
</DIV>
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    <BR>
    A-4
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the Atomic Energy Act, 42&#160;U.S.C. Section&#160;2014 et seq.,
    the Federal Insecticide, Fungicide, and Rodenticide Act,
    7&#160;U.S.C. Section&#160;136 et seq., and the Federal
    Hazardous Materials Transportation Law, 49&#160;U.S.C.
    Section&#160;5101 et seq., and their state analogues, each as
    has been amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Environmental Permits&#148;</I> shall have the meaning
    set forth in <U>Section&#160;5.1(n)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;ERISA&#148;</I> shall mean the Employee Retirement
    Income Security Act of 1974, as amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Evercore&#148;</I> shall have the meaning set forth in
    <U>Section&#160;5.2(r)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Exchange Act&#148;</I> shall mean the Securities
    Exchange Act of 1934, as amended, and the rules and regulations
    thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Exchange Agent&#148;</I> shall mean such entity as may
    be selected by Partners subject to the reasonable approval of
    the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Exchange Fund&#148;</I> shall have the meaning set
    forth in <U>Section&#160;3.3(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Exchange Ratio&#148;</I> shall have the meaning set
    forth in <U>Section&#160;3.1(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Expenses&#148;</I> shall have the meaning set forth in
    <U>Section&#160;9.1(e)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Export and Sanctions Laws&#148;</I> means all Laws of
    the United States and all other applicable jurisdictions
    relating to any economic sanction or export restriction
    including: (i)&#160;the sanctions regulations administered by
    U.S.&#160;Department of Treasury&#146;s Office of Foreign Assets
    Control, (ii)&#160;export and trade controls and related
    sanctions administered by the U.S.&#160;Department of Commerce,
    Bureau of Industry and Security, and (iii)&#160;the
    International Traffic in Arms Regulations administered by the
    U.S.&#160;Department of State&#146;s Directorate of Defense
    Trade Controls (<I>&#147;DDTC&#148;</I>).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;GAAP&#148;</I> means U.S.&#160;generally accepted
    accounting principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Governmental Authority&#148;</I> shall mean any
    international, foreign, national, state, local, county, parish
    or municipal government, any agency, board, bureau, commission,
    court, tribunal, subdivision, department or other governmental
    or regulatory authority or instrumentality, or any arbitrator in
    any case, domestic, foreign or supranational, that has
    jurisdiction over the Company or the Partners Entities, as the
    case may be, or any of their respective properties or assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Hazardous Substances&#148;</I> means any
    (x)&#160;chemical, product, substance, waste, material,
    pollutant or contaminant that is defined or listed as hazardous
    or toxic or that is otherwise regulated under any Environmental
    Law; (y)&#160;asbestos containing materials, whether in a
    friable or non-friable condition, polychlorinated biphenyls,
    naturally occurring radioactive materials or radon; and
    (z)&#160;any oil or gas exploration or production waste or any
    petroleum, petroleum hydrocarbons, petroleum products, crude oil
    and any components, fractions, or derivatives thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Indemnification Expenses&#148;</I> shall have the
    meaning set forth in <U>Section&#160;6.13(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Indemnified Parties&#148;</I> shall have the meaning
    set forth in <U>Section&#160;6.13(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Indemnitees&#148;</I> shall mean those Person entitled
    to indemnification under the Company Bylaws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Jefferies&#148;</I> shall have the meaning set forth in
    <U>Section&#160;5.1(r)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Knowledge&#148;</I> or <I>&#147;Known&#148;</I> shall
    mean, with respect to any entity, the knowledge of such
    entity&#146;s (or its general partner&#146;s) executive officers
    after reasonable inquiry.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Law&#148;</I> shall mean any law, rule, regulation,
    directive, ordinance, code, governmental determination,
    guideline, judgment, order, treaty, convention, governmental
    certification requirement or other legally enforceable
    requirement, U.S.&#160;or
    <FONT style="white-space: nowrap">non-U.S.,</FONT> of
    any Governmental Authority.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Lien&#148;</I> shall mean any charge, mortgage, pledge,
    security interest, restriction, claim, lien, or encumbrance of
    any kind (including any agreement to give any of the foregoing).
</DIV>
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    <BR>
    A-5
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Material Adverse Effect&#148;</I> shall mean, with
    respect to either the Company or the Partners Entities, any
    events, circumstances, changes, developments, violations,
    inaccuracies, effects or other matters that, individually or
    taken together, that (x)&#160;are or could reasonably be
    expected to be materially adverse to the financial condition,
    results of operations, business, assets or properties of the
    Company and its Subsidiaries taken as a whole, or the Partners
    Entities and their respective Subsidiaries taken as a whole,
    respectively, or (y)&#160;materially impair or could reasonably
    be expected to materially impair the ability of the Company or
    the Partners Entities, respectively, to perform their respective
    obligations under this Agreement or otherwise materially
    threaten or materially impede the consummation of the Merger and
    the other transactions contemplated by this Agreement;
    <I>provided</I>, <I>however</I>, that Material Adverse Effect
    shall not be deemed to include any of the following or the
    impact thereof: (a)&#160;circumstances affecting the shipping or
    shipbuilding and repair industries generally, or in any region
    in which such Person operates, (b)&#160;any general market,
    economic, financial or political conditions, or outbreak or
    hostilities or war, in the United States or elsewhere,
    (c)&#160;changes in Law or changes in GAAP,
    (d)&#160;earthquakes, hurricanes, floods, volcanic eruptions or
    other natural disasters, (e)&#160;any failure of the Company or
    any of the Partners Entities, as applicable, to meet any
    internal or external projections, forecasts or estimates of
    revenue or earnings for any period, (f)&#160;changes in the
    market price or trading volume of the Company Common Stock or
    Partners Common Units, (g)&#160;the entry into, announcement or
    pendency of this Agreement or the matters contemplated hereby or
    the compliance by any party with the provisions of this
    Agreement (other than <U>Section&#160;6.7</U>) or any action
    taken or omitted to be taken by the Company, MergerCo or the
    Partners Entities, as the case may be, at the written request or
    with the prior written consent of Partners, MergerCo or the
    Company, as the case may be (<I>provided, however</I>, that the
    exceptions in this clause&#160;(g) shall not apply to that
    portion of any representation or warranty contained in this
    Agreement to the extent that the purpose of such portion of such
    representation or warranty is to address the consequences
    resulting from the execution and delivery of this Agreement, the
    public announcement or pendency of the Merger or any of the
    other transactions contemplated by this Agreement or the
    performance of obligations or satisfaction of conditions under
    this Agreement); <I>provided further, however</I>, (i)&#160;that
    in the case of clauses&#160;(e) or (f), any change or failure
    shall not prevent or otherwise affect a determination that any
    event, circumstance, change, development, violation, inaccuracy,
    effect or other matter underlying such change or failure has
    resulted in, or contributed to, a Material Adverse Effect and
    (ii)&#160;that, in the case of clauses (a), (b), (c)&#160;or
    (d), the impact on the Company or the Partners Entities, as
    applicable, is not disproportionately adverse as compared to
    others in the industry or geographic region.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Meeting&#148;</I> shall have the meaning set forth in
    <U>Section&#160;6.2(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Merger&#148;</I> shall have the meaning set forth in
    the recitals to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Merger Consideration&#148;</I> shall have the meaning
    set forth in <U>Section&#160;3.1(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MergerCo&#148;</I> shall have the meaning set forth in
    the introductory paragraph to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MergerCo Articles of Incorporation&#148;</I> shall mean
    the Articles of Incorporation of MergerCo filed with the
    Registrar or Deputy Registrar of Corporations of the Republic of
    the Marshall Islands on May&#160;3, 2011, as amended from time
    to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MergerCo Bylaws&#148;</I> shall mean the Bylaws of
    MergerCo, as amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MergerCo Common Stock&#148;</I> shall have the meaning
    set forth in <U>Section&#160;2.1(g)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MIBCA&#148;</I> means the Business Corporations Act of
    the Associations Law of the Republic of the Marshall Islands, as
    amended, supplemented or restated from time to time, and any
    successor to such statute.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;MILPA&#148;</I> means the Limited Partnership Act of
    the Associations Law of the Republic of the Marshall Islands, as
    amended, supplemented or restated from time to time, and any
    successor to such statute.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;NASDAQ&#148;</I> shall mean the Nasdaq Global Market.
</DIV>
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    <BR>
    A-6
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;NDA&#148;</I> shall mean that certain Confidentiality
    Agreement, dated as of April&#160;5, 2011, between Partners and
    the Company, as amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;New Partners Common Unit Certificates&#148;</I> shall
    have the meaning set forth in <U>Section&#160;3.3(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;New Partners Common Units&#148;</I> shall have the
    meaning set forth in <U>Section&#160;3.1(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Notice of Proposed Recommendation Change&#148;</I>
    shall have the meaning set forth in <U>Section&#160;6.7(c)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;NYSE&#148;</I> shall mean the New York Stock Exchange.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Other Approvals&#148;</I> shall have the meaning set
    forth in <U>Section&#160;5.1(d)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partially Owned Entity&#148;</I> shall mean, with
    respect to a specified Person, any other Person that is not a
    Subsidiary of such specified Person but in which such specified
    Person, directly or indirectly, owns less than 100% of the
    equity interests thereof (whether voting or non-voting and
    including beneficial interests).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners&#148;</I> shall have the meaning set forth in
    the introductory paragraph to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Administrative Services Agreement&#148;</I>
    means that certain Administrative Services Agreement, dated as
    of April&#160;3, 2007, as amended through the date of this
    Agreement, between Partners and Capital Ship Management Corp.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Board&#148;</I> shall mean the board of
    directors of Partners
    <FONT style="white-space: nowrap">and/or</FONT> a
    committee thereof, as applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Certificate of Limited Partnership&#148;</I>
    shall mean the Certificate of Limited Partnership of Partners
    effective as of January&#160;16, 2007, as amended from time to
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Common Units&#148;</I> shall mean the common
    units representing limited partner interests in Partners having
    the rights and obligations specified with respect to Common
    Units in the Partners Partnership Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Conflicts Committee&#148;</I> shall mean the
    Conflicts Committee of the Board of Directors of Partners,
    consisting solely of independent directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Contract&#148;</I> shall have the meaning set
    forth in <U>Section&#160;5.2(l)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Credit Facilities&#148;</I> shall mean
    (a)&#160;that certain Loan Agreement, dated as of March&#160;22,
    2007, by and among Partners, HSH Nordbank AG, as agent and
    security trustee, and the lenders party thereto and
    (b)&#160;that certain Loan Agreement, dated as of March&#160;19,
    2008, by and among Partners, HSH Nordbank AG as lead arranger
    and security trustee, DnB Nor Bank SA as co-arranger and the
    lenders party thereto, in each case as amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Disclosure Schedule&#148; </I>shall have the
    meaning set forth in <U>Section&#160;5.2</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Employee&#148;</I> means any employee of any
    of the Partners Entities or any of their respective
    Subsidiaries, or an employee of Capital Ship Management Corp.
    who performs services for any Partners Entity or Subsidiary of
    Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Entities&#148;</I> shall have the meaning set
    forth in the introductory paragraph to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners GP&#148;</I> shall have the meaning set forth
    in the introductory paragraph to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners GP Certificate of Formation&#148;</I> shall
    mean the Certificate of Formation of Partners GP effective as of
    January&#160;16, 2007, as amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners GP LLC Agreement&#148;</I> shall mean the
    Limited Liability Company Agreement of Partners GP, dated as of
    January&#160;16, 2007, as amended from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Incentive Plan&#148;</I> shall mean
    Partners&#146; 2008 Omnibus Incentive Compensation Plan, adopted
    April&#160;29, 2008 and amended July&#160;22, 2010, as it may be
    further amended from time to time.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Management Agreement&#148; </I>shall mean that
    certain Management Agreement, dated as of April&#160;3, 2007, as
    amended through the date of this Agreement, between Partners and
    Capital Ship Management Corp.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Omnibus Agreement Amendment&#148;</I> shall
    mean an amendment to, or an amendment and restatement of, that
    certain Omnibus Agreement, dated as of April&#160;3, 2007, by
    and among Capital Maritime, Partners GP, Capital Product
    Operating GP L.L.C. and Partners, as amended from time to time,
    containing the provisions provided for in
    <U>Section&#160;6.16</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Partnership Agreement&#148;</I> shall mean the
    Second Amended and Restated Agreement of Limited Partnership of
    Partners, dated as of February&#160;22, 2010, as it may be
    further amended from time to time, including the Partners
    Partnership Agreement Amendment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Partnership Agreement Amendment&#148;</I>
    shall mean an amendment to, or an amendment and restatement of,
    the Partners Partnership Agreement that includes the terms
    contemplated by <U>Section&#160;6.17(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Incentive Distribution Rights&#148;</I> shall
    mean the &#147;Incentive Distribution Rights&#148; as defined in
    the Partners Partnership Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Necessary Consents&#148;</I> shall have the
    meaning set forth in <U>Section&#160;5.2(d)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Real Property&#148;</I> means all real
    property owned by the Partners Entities or any of their
    respective Subsidiaries or used for the conduct of the business
    of the Partners Entities or any of their respective Subsidiaries
    as it is presently conducted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners SEC Documents&#148;</I> shall have the meaning
    set forth in <U>Section&#160;5.2(e)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Tax Opinion&#148;</I> shall have the meaning
    set forth in Section&#160;6.18(c).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Unaffiliated Unitholders&#148;</I> shall mean
    the holders of Partners Common Units other than
    (a)&#160;Partners, (b)&#160;Partners GP, (c)&#160;Capital
    Maritime, (d)&#160;the Company, (e)&#160;members of management
    of the Partners, Partners GP and the Company, (f)&#160;members
    of the Partners Board and the Company Board, and
    (vii)&#160;their respective Affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners Vessels&#148;</I> shall have the meaning set
    forth in <U>Section&#160;5.2(p)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partners 2010 20-F&#148;</I> shall mean that certain
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed by Partners on February&#160;4, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Person&#148;</I> shall mean any individual, bank,
    corporation, partnership, limited liability company,
    association, joint-stock company, business trust or
    unincorporated organization or any other form of business or
    professional entity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Policies&#148;</I> means all policies of property,
    casualty and liability insurance, including crime insurance,
    liability and casualty insurance, property insurance, business
    interruption insurance, workers&#146; compensation, excess or
    umbrella liability insurance and any other type of property and
    casualty insurance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Pre-Closing Tax Period&#148;</I> shall have the meaning
    set forth in <U>Section&#160;5.1(u)(viii)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Proxy Statement&#148;</I> shall have the meaning set
    forth in <U>Section&#160;6.4(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Receiving Party&#148;</I> shall have the meaning set
    forth in <U>Section&#160;6.7(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Registration Statement&#148;</I> shall have the meaning
    set forth in <U>Section&#160;6.4(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Release&#148;</I> means any depositing, spilling,
    leaking, pumping, pouring, emitting, discarding, emptying,
    discharging, injecting, escaping, leaching, dumping, or
    disposing of Hazardous Substances into the environment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Representatives&#148;</I> shall mean with respect to a
    Person, its directors, officers, employees, agents and
    representatives, including any investment banker, financial
    advisor, attorney, accountant or other advisor, agent or
    representative.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Rights&#148;</I> shall mean, with respect to any
    Person, securities or obligations convertible into or
    exchangeable for, or giving any Person any right to subscribe
    for or acquire, or any options, calls or commitments relating
    to, equity securities of such Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Rule&#160;145 Affiliate&#148;</I> shall have the
    meaning set forth in <U>Section&#160;6.8(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;SEC&#148;</I> shall mean the Securities and Exchange
    Commission.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Securities Act&#148;</I> shall mean the Securities Act
    of 1933, as amended, and the rules and regulations thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Significant Company Subsidiary&#148;</I> means any
    Company Subsidiary that would be a &#147;Significant
    Subsidiary&#148; as defined in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    of the Exchange Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;SOX&#148;</I> means the Sarbanes-Oxley Act of 2002 and
    the regulations promulgated thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Stockholders&#148;</I> means the holders of the Company
    Common Stock and Company Class&#160;B Stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Subsidiary&#148;</I> shall have the meaning ascribed to
    such term in
    <FONT style="white-space: nowrap">Rule&#160;1-02</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    under the Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Superior Proposal&#148;</I> shall mean any bona fide
    Acquisition Proposal (except that references to &#147;20% or
    more&#148; within the definition of &#147;Acquisition
    Proposal&#148; shall be replaced by &#147;50% or more&#148;)
    made by a third party, which is not subject to a financing
    condition, on terms that the Company Board determines, in its
    good faith judgment and after consulting with its financial
    advisor and outside legal counsel, and taking into account the
    financial, legal, regulatory and other aspects of the
    Acquisition Proposal (including, without limitation, any
    conditions to and the expected timing of consummation and any
    risks of non-consummation), to be more favorable to the holders
    of Company Common Stock and Company Class&#160;B Stock, from a
    financial point of view, than the Merger (taking into account
    any revised proposal by the Partners Board on behalf of
    Partners).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Support Agreement&#148;</I> shall have the meaning set
    forth in the recitals to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Surviving Entity&#148;</I> shall have the meaning set
    forth in <U>Section&#160;2.1(a)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Takeover Law&#148;</I> shall mean any &#147;fair
    price,&#148; &#147;moratorium,&#148; &#147;control share
    acquisition,&#148; &#147;business combination&#148; or any other
    anti-takeover statute or similar statute enacted under state,
    federal or foreign law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Taxes&#148;</I> shall mean all taxes, charges, fees,
    levies, duties, or other assessments, including, without
    limitation, all net income, gross income, gross receipts, sales,
    use, ad valorem, goods and services, capital, transfer,
    franchise, profits, license, withholding, payroll, employment,
    employer health, excise, estimated, severance, stamp,
    occupation, property or other taxes, together with any interest
    and any penalties, additions to tax or additional amounts
    imposed by any taxing authority, whether disputed or not.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Tax Law&#148;</I> shall mean any Law relating to Taxes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Tax Returns&#148;</I> means any return, report or
    similar statement (including any attached schedules thereto and
    any amendments thereof) required to be filed with respect to any
    Tax, including any information return, claim for refund, amended
    return or declaration of estimated Tax.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Termination Date&#148;</I> shall have the meaning set
    forth in <U>Section&#160;8.1(b)(i)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Voting Debt&#148;</I> shall mean any bonds, debentures,
    notes or other indebtedness having the right to vote on any
    matters on which holders of capital stock or members or partners
    of the same issuer may vote (or that are convertible into, or
    exchangeable for, securities having the right to vote on such
    matters).
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;II<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">THE MERGER;
    EFFECTS OF THE MERGER
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section</FONT>&#160;2.1&#160;&#160;<I>The
    Merger</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>The Surviving Entity.</I>&#160;&#160;Subject to the
    terms and conditions of this Agreement, at the Effective Time,
    MergerCo shall merge with and into the Company, the separate
    existence of MergerCo shall cease and the Company shall survive
    and continue to exist as a Marshall Islands corporation (the
    Company, as the surviving entity in the Merger, sometimes being
    referred to herein as the <B><I>&#147;Surviving
    Entity&#148;</I></B>), such that following the Merger, Partners
    will be the sole stockholder of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Effectiveness and Effects of the
    Merger.</I>&#160;&#160;Subject to the satisfaction or waiver of
    the conditions set forth in <U>Article&#160;VII</U> in
    accordance with this Agreement, the Merger shall become
    effective upon the filing in the office of the Registrar or
    Deputy Registrar of Corporations in the Republic of the Marshall
    Islands of a properly executed articles of merger (the
    <B><I>&#147;Articles of Merger&#148;</I></B>) or such later date
    and time as may be set forth in the Articles of Merger (the
    <B><I>&#147;Effective Time&#148;</I></B>), in accordance with
    the MIBCA. The Merger shall have the effects prescribed in the
    MIBCA.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>The Company and MergerCo Governing
    Documents.</I>&#160;&#160;At the Effective Time, (i)&#160;the
    Company Articles of Incorporation shall be amended and restated
    in substantially the form attached hereto as <U>Annex&#160;B</U>
    and such Company Articles of Incorporation as so amended and
    restated shall be the Articles of Incorporation of the Surviving
    Entity and (ii)&#160;the Company Bylaws shall be amended and
    restated in substantially the form attached hereto as
    <U>Annex&#160;C</U> and such Company Bylaws as so amended and
    restated shall be the Bylaws of the Surviving Entity, in each
    case until duly amended in accordance with the terms thereof and
    applicable Law and pursuant to such amendment and restatement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Partners Partnership Agreement.</I>&#160;&#160;At
    the Effective Time, the Partners Partnership Agreement (as in
    effect immediately prior to the Effective Time), shall be
    amended by the Partners Partnership Agreement Amendment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Directors.</I>&#160;&#160;The directors of MergerCo
    immediately prior to the Effective Time shall become the
    directors of the Surviving Entity, until the earlier of their
    resignation or removal or until their respective successors are
    duly elected and qualified, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>Officers.</I>&#160;&#160;The officers of the Company
    immediately prior to the Effective Time shall become the
    officers of the Surviving Entity, until the earlier of their
    resignation or removal or until their respective successors are
    duly elected and qualified, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>Capital Stock of MergerCo.</I>&#160;&#160;As of the
    Effective Time, by virtue of the Merger and without any action
    on the part of the holder of any shares of Company Common Stock
    or Company Class&#160;B Stock or any shares of capital stock of
    MergerCo, each share of Common Stock, par value $0.0001 per
    share, of MergerCo issued and outstanding immediately prior to
    the Effective Time (<B><I>&#147;MergerCo Common
    Stock&#148;</I></B>) shall be converted into and become one
    fully paid and non-assessable share of common stock, par value
    $0.0001 per share, of the Surviving Corporation and such shares
    shall, following the Merger, represent all of the issued and
    outstanding capital stock of the Surviving Entity, all of which
    shall be owned by Partners at the Effective Time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Cancellation of Treasury Stock.</I>&#160;&#160;Each
    share of Company Common Stock and Company Class&#160;B Stock
    issued and outstanding immediately prior to the Effective Time
    that is owned by the Company, Partners, Partners GP, MergerCo or
    any of their respective Subsidiaries, if any, shall no longer be
    outstanding and shall automatically be cancelled and shall cease
    to exist, and no consideration shall be delivered in exchange
    therefor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>2.2&#160;&#160;<I>Closing.</I>&#160;&#160;Subject
    to the satisfaction or waiver of the conditions as set forth in
    <U>Article&#160;VII</U> in accordance with this Agreement, the
    Merger and the other transactions contemplated hereby (the
    <B><I>&#147;Closing&#148;</I></B>) shall occur (a)&#160;at
    10:00&#160;a.m. (New York Time) on the third Business Day after
    the day on which the last of the conditions set forth in
    <U>Article&#160;VII</U> shall have been satisfied or waived in
    accordance with the terms of this
</DIV>
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    Agreement or (b)&#160;such other date and time to which the
    parties may agree in writing. The date on which the Closing
    occurs is referred to as the <B><I>&#147;Closing
    Date</I></B>.&#148; The Closing of the transactions contemplated
    by this Agreement shall take place at the offices of Akin Gump
    Strauss Hauer&#160;&#038; Feld LLP, 1111 Louisiana Street,
    Houston, TX.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;III<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">MERGER
    CONSIDERATION; EXCHANGE PROCEDURES
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section</FONT>&#160;3.1&#160;&#160;<I>Merger
    Consideration</I>. Subject to the provisions of this Agreement,
    at the Effective Time, by virtue of the Merger and without any
    action on the part of the Partners Entities, the Company or any
    Stockholder:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Each share of (i)&#160;Company Common Stock and
    (ii)&#160;Company Class&#160;B Stock issued and outstanding
    immediately prior to the Effective Time (other than shares of
    Company Common Stock and Company Class&#160;B Stock held by the
    Company, the Partners Entities or any of their respective
    Subsidiaries, if any) shall be converted into the right to
    receive 1.56 (the <B><I>&#147;Exchange Ratio&#148;</I></B>)
    Partners Common Units (the <B><I>&#147;Merger
    Consideration&#148;</I></B>), which Partners Common Units shall
    be duly authorized and validly issued in accordance with
    applicable Laws and the Partners Partnership Agreement, fully
    paid (to the extent required under the Partners Partnership
    Agreement) and non-assessable (except to the extent such
    non-assessability may be affected by the MILPA) (such Partners
    Common Units described in this clause&#160;(a) shall be referred
    to herein as the <B><I>&#147;New Partners Common
    Units&#148;</I></B>).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;All the shares of Company Common Stock and Company
    Class&#160;B Stock, when converted in the Merger, shall cease to
    be outstanding and shall automatically be cancelled and cease to
    exist. At the Effective Time, each holder of a certificate
    representing a share of Company Common Stock or Company
    Class&#160;B Stock (a <B><I>&#147;Certificate&#148;</I></B>) and
    each holder of non-certificated shares of Company Common Stock
    or Company Class&#160;B Stock represented by book-entry
    (<B><I>&#147;Book-Entry Shares&#148;</I></B>) shall cease to
    have any rights with respect thereto, except (A)&#160;the right
    to receive dividends in accordance with <U>Section&#160;3.2</U>,
    and (B)&#160;the right to receive (i)&#160;the Merger
    Consideration, (ii)&#160;any cash to be paid in lieu of any
    fractional New Partners Common Unit in accordance with
    <U>Section&#160;3.3(e)</U> and (iii)&#160;any distributions in
    accordance with <U>Section&#160;3.3(c)</U>, and in each case to
    be issued or paid in consideration therefor in accordance with
    <U>Section&#160;3.3</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.2&#160;&#160;</FONT><I>Rights
    As Unitholders; Unit Transfers.</I>&#160;&#160;At the Effective
    Time, holders of shares of Company Common Stock and shares of
    Company Class&#160;B Stock shall cease to be, and shall have no
    rights as Stockholders, other than to receive (a)&#160;any
    dividend with respect to such shares of Company Common Stock or
    Company Class&#160;B Stock with a record date occurring prior to
    the Effective Time that may have been declared by the Company on
    such shares in accordance with the terms of this Agreement and
    the Company Articles of Incorporation and Company Bylaws and
    that remains unpaid at the Effective Time and (b)&#160;the
    consideration provided under this
    <U>Article&#160;III</U>.&#160;&#160;After the Effective Time,
    there shall be no transfers on the stock transfer books of the
    Company with respect to the shares of Company Common Stock or
    Company Class&#160;B Stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.3&#160;&#160;</FONT><I>Exchange
    of Certificates</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>Exchange Agent.</I>&#160;&#160;At or prior to the
    Effective Time, Partners shall deposit or shall cause to be
    deposited with the Exchange Agent for the benefit of
    Stockholders, for exchange in accordance with this
    <U>Article&#160;III</U>, through the Exchange Agent, the
    certificates representing New Partners Common Units (such
    certificates, whether represented in certificated or
    non-certificated book-entry form, to the extent applicable, the
    <B><I>&#147;New Partners Common Unit Certificates</I></B>) and
    cash as required by this
    <U>Article&#160;III</U>.&#160;&#160;Partners agrees to make
    available to the Exchange Agent, from time to time as needed,
    cash sufficient to pay any distributions pursuant to
    <U>Section&#160;3.2</U> and <U>Section&#160;3.3(c)</U> and to
    make payments in lieu of any fractional New Partners Common
    Units pursuant to <U>Section&#160;3.3(e)</U>.&#160;&#160;Any
    cash and New Partners Common Unit Certificates deposited with
    the Exchange Agent (including as payment for any fractional New
    Partners Common Units in accordance with
    <U>Section&#160;3.3(e)</U> and any distributions in accordance
    with <U>Section&#160;3.3(c)</U>) shall hereinafter be referred
    to as
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the <B><I>&#147;Exchange Fund</I></B>.&#148; The Exchange Agent
    shall, pursuant to irrevocable instructions, deliver the Merger
    Consideration contemplated to be paid for shares of Company
    Common Stock and Company Class&#160;B Stock pursuant to this
    Agreement out of the Exchange Fund. Except as contemplated by
    <U>Sections&#160;3.3(c)</U> and <U>3.3(e)</U>, the Exchange Fund
    shall not be used for any other purpose.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Exchange Procedures.</I>&#160;&#160;As soon as
    reasonably practicable after the Effective Time, Partners shall
    instruct the Exchange Agent to mail to each record holder of a
    share of Company Common Stock or Company Class&#160;B Stock
    (i)&#160;a letter of transmittal (which shall specify that in
    respect of certificated shares, delivery shall be effected, and
    risk of loss and title to the Certificates shall pass, only upon
    proper delivery of the Certificates to the Exchange Agent, and
    shall be in customary form and agreed to by Partners and the
    Company prior to the Effective Time) and (ii)&#160;instructions
    for effecting the surrender of the Certificates or transfer of
    the Book-Entry Shares, as the case may be, in exchange for the
    Merger Consideration payable in respect of shares of Company
    Common Stock and Company Class&#160;B Stock represented by such
    Certificates or Book-Entry Shares. Upon proper surrender of a
    Certificate or transfer of Book-Entry Share, as the case may be,
    for cancellation to the Exchange Agent together with such
    letters of transmittal, properly completed and duly executed,
    and such other documents (including in respect of Book-Entry
    Shares) as may be required pursuant to such instructions, the
    holder of such Certificate or Book-Entry Share shall be entitled
    to receive in exchange therefor (A)&#160;a New Partners Common
    Unit Certificate representing, in the aggregate, the whole
    number of New Partners Common Units that such holder has the
    right to receive pursuant to this <U>Article&#160;III</U> (after
    taking into account and aggregating all shares of Company Common
    Stock and Company Class&#160;B Stock then held by such holder)
    and (B)&#160;a check in the amount equal to the aggregate amount
    of cash that such holder has the right to receive pursuant to
    this <U>Article&#160;III</U>, including cash payable in lieu of
    any fractional New Partners Common Units pursuant to
    <U>Section&#160;3.3(e)</U> and distributions pursuant to
    <U>Section&#160;3.3(c)</U> and the Certificate so surrendered
    and the Book-Entry Share so transferred shall immediately be
    cancelled. No interest shall be paid or accrued on any Merger
    Consideration or on any unpaid distributions payable to holders
    of Certificates or Book-Entry Shares. In the event of a transfer
    of ownership of shares of Company Common Stock or Company
    Class&#160;B Stock that is not registered in the transfer
    records of the Company, the Merger Consideration payable in
    respect of such shares may be paid to a transferee, if the
    Certificate representing such shares or evidence of ownership of
    the Book-Entry Shares are presented to the Exchange Agent, and
    in the case of both certificated and book-entry shares,
    accompanied by all documents required to evidence and effect
    such transfer and the Person requesting such exchange shall pay
    to the Exchange Agent in advance any transfer or other Taxes
    required by reason of the delivery of the Merger Consideration
    in any name other than that of the record holder of such shares,
    or shall establish to the satisfaction of the Exchange Agent
    that such Taxes have been paid or are not payable. Until the
    required documentation has been delivered and Certificates have
    been surrendered and the Book-Entry Shares have been
    transferred, as the case may be, as contemplated by this
    <U>Section&#160;3.3</U>, each Certificate or Book-Entry Share
    shall be deemed at any time after the Effective Time to
    represent only the right to receive upon such surrender the
    Merger Consideration payable in respect of shares of Company
    Common Stock or Company Class&#160;B Stock, as the case may be
    (including any cash in lieu of fractional units pursuant to
    <U>Section&#160;3.3(e)</U>), and any distributions to which such
    holder is entitled pursuant to <U>Section&#160;3.2</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>Distributions with Respect to Unexchanged Shares of
    Company Common Stock and Company Class&#160;B
    Stock.</I>&#160;&#160;No distributions declared or made with
    respect to Partners Common Units with a record date after the
    Effective Time shall be paid to the holder of any unsurrendered
    Certificate or untransferred Book-Entry Share with respect to
    the New Partners Common Units that such holder would be entitled
    to receive in accordance herewith and no cash payment in lieu of
    fractional New Partners Common Units shall be paid to any such
    holder until such holder shall deliver the required
    documentation and surrender any Certificate or transfer any
    Book-Entry Share, as the case may be, as contemplated by this
    <U>Section&#160;3.3</U>.&#160;&#160;Subject to applicable Law,
    following compliance with the requirements of
    <U>Section&#160;3.3(b)</U>, there shall be paid to such holder
    of the New Partners Common Units issuable in exchange therefor,
    without interest, (i)&#160;promptly after the time of such
    compliance, the amount of any cash payable in lieu of fractional
    New Partners Common Units to which such holder is entitled
    pursuant to <U>Section&#160;3.3(e)</U> and the amount of
    distributions with a record date after the Effective Time
    theretofore paid with respect to the New Partners Common Units
    and payable with respect to such New Partners Common Units, and
    (ii)&#160;at the appropriate payment date, the amount of
    distributions with a
</DIV>
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    record date after the Effective Time but prior to such surrender
    and a payment date subsequent to such compliance payable with
    respect to such New Partners Common Units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Further Rights in the Company Common Stock and
    Company Class&#160;B Stock.</I>&#160;&#160;The Merger
    Consideration issued upon conversion of a share of Company
    Common Stock or Company Class&#160;B Stock in accordance with
    the terms hereof and any cash paid pursuant to
    <U>Section&#160;3.2</U>, <U>Section&#160;3.3(c)</U> or
    <U>Section&#160;3.3(e)</U> shall be deemed to have been issued
    and paid in full satisfaction of all rights pertaining to such
    share of Company Common Stock or Company Class&#160;B Stock, as
    the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Fractional Partners Common Units.</I>&#160;&#160;No
    certificates or scrip of the New Partners Common Units
    representing fractional New Partners Common Units or book entry
    credit of the same shall be issued upon the exchange of shares
    of Company Common Stock or Company Class&#160;B Stock in
    accordance with <U>Section&#160;3.3(b)</U>, and such fractional
    interests will not entitle the owner thereof to vote or to have
    any rights as a holder of any New Partners Common Units.
    Notwithstanding any other provision of this Agreement, each
    holder of a share of Company Common Stock or Company
    Class&#160;B Stock exchanged in the Merger who would otherwise
    have been entitled to receive a fraction of a New Partners
    Common Unit (after taking into account all such shares exchanged
    by such holder) shall receive, in lieu thereof, cash (without
    interest rounded up to the nearest whole cent) in an amount
    equal to the product of (i)&#160;the closing sale price of the
    Partners Common Units on the NASDAQ as reported by <I>The Wall
    Street Journal </I>on the trading day immediately preceding the
    date on which the Effective Time shall occur and (ii)&#160;the
    fraction of a New Partners Common Unit that such holder would
    otherwise be entitled to receive pursuant to this
    <U>Article&#160;III</U>.&#160;&#160;As promptly as practicable
    after the determination of the amount of cash, if any, to be
    paid to holders of fractional interests, the Exchange Agent
    shall so notify Partners, and Partners shall, or shall cause the
    Surviving Entity to, deposit such amount with the Exchange Agent
    and shall cause the Exchange Agent to forward payments to such
    holders of fractional interests subject to and in accordance
    with the terms hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>Termination of Exchange Fund.</I>&#160;&#160;Any
    portion of the Exchange Fund constituting New Partners Common
    Units or cash that remains undistributed to the Stockholders
    after one year following the Effective Time shall be delivered
    to Partners upon demand and, from and after such delivery, any
    former holders of such shares who have not theretofore complied
    with this <U>Article&#160;III</U> shall thereafter look only to
    Partners for the Merger Consideration payable in respect of such
    shares, any cash in lieu of fractional New Partners Common Units
    to which they are entitled pursuant to
    <U>Section&#160;3.3(e)</U> and any distributions with respect to
    the New Partners Common Units to which they are entitled
    pursuant to <U>Section&#160;3.3(c)</U>, in each case, without
    any interest thereon.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>No Liability.</I>&#160;&#160;None of the Partners
    Entities, the Company nor the Surviving Entity shall be liable
    to any Stockholder for any Partners Common Units (or
    distributions with respect thereto) or cash from the Exchange
    Fund delivered to a public official pursuant to any abandoned
    property, escheat or similar Law. Notwithstanding any other
    provision of this Agreement, any amounts remaining unclaimed by
    Stockholders as of the second anniversary of the Effective Time
    (or immediately prior to such earlier time as such amounts would
    otherwise escheat to or become the property of any Governmental
    Authority) shall, to the extent permitted by applicable Law,
    become the property of Partners, free and clear of any Liens,
    claims or interest of any Person previously entitled thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Lost Certificates.</I>&#160;&#160;If any Certificate
    shall have been lost, stolen or destroyed, upon the making of an
    affidavit of that fact by the Person claiming such Certificate
    to be lost, stolen or destroyed and, if required by Partners,
    the posting by such Person of a bond, in such reasonable amount
    as Partners may direct, as indemnity against any claim that may
    be made against it with respect to such Certificate, the
    Exchange Agent shall pay in exchange for such lost, stolen or
    destroyed Certificate the Merger Consideration payable in
    respect of the shares of Company Common Stock or Company
    Class&#160;B Stock represented by such Certificate and any
    distributions to which the holders thereof are entitled pursuant
    to <U>Section&#160;3.2</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>Withholding.</I>&#160;&#160;Each of Partners, the
    Surviving Entity and the Exchange Agent shall be entitled to
    deduct and withhold from the consideration otherwise payable
    pursuant to this Agreement to any holder of shares of Company
    Common Stock or Company Class&#160;B Stock such amounts as
    Partners, the Surviving Entity or the Exchange Agent are
    required to deduct and withhold under the Code or any provision
    of state, local, or
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    foreign Tax Law, with respect to the making of such payment;
    <I>provided, however</I>, that Partners, the Surviving Entity or
    the Exchange Agent, as the case may be, shall provide reasonable
    notice to the applicable Stockholders prior to withholding any
    amounts pursuant to this
    <U>Section&#160;3.3(i)</U>.&#160;&#160;To the extent that
    amounts are so deducted and withheld by Partners, the Surviving
    Entity or the Exchange Agent, such amounts shall be treated for
    all purposes of this Agreement as having been paid to the
    Stockholders in respect of whom such deduction and withholding
    was made by Partners, the Surviving Entity or the Exchange
    Agent, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;<I>Book Entry and Admission of Holders of New Partners
    Common Units as Additional Limited Partners of
    Partners.</I>&#160;&#160;Holders of New Partners Common Units
    will be admitted to Partners as Limited Partners upon the
    issuance of New Partners Common Units to the Stockholders in
    accordance with this <U>Section&#160;3.3</U> and the reflection
    of such admission on the books and records of Partners pursuant
    to Section&#160;10.2 of the Partners Partnership Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section</FONT>&#160;3.4&#160;&#160;<I>Anti-Dilution
    Provisions.</I>&#160;&#160;In the event of any subdivisions,
    reclassifications, recapitalizations, splits, combinations or
    distributions in the form of equity interests with respect to
    the shares of Company Common Stock or Company Class&#160;B Stock
    and the Partners Common Units (in each case, as permitted
    pursuant to <U>Section&#160;4.1(c)</U> or
    <U>Section&#160;4.2(c)</U>, as applicable), the number of New
    Partners Common Units to be issued in the Merger and the average
    closing sales prices of the Partners Common Units determined in
    accordance with <U>Section&#160;3.3(e)</U> will be
    correspondingly adjusted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.5&#160;&#160;</FONT><I>Equity
    Awards</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Prior to the Effective Time, the Company Board (or, if
    appropriate, any committee thereof administering the Company
    Incentive Plan) will adopt such resolutions or take such other
    actions as may be required to effect the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;adjust the terms of all outstanding Company Stock-Based
    Awards, if any, to provide that, at the Effective Time, such
    Company Stock-Based Awards outstanding immediately prior to the
    Effective Time will be converted into Partners Common Units or
    other compensatory awards denominated in Partners Common Units
    subject to a risk of forfeiture to, or right of repurchase by,
    Partners (each, a <B><I>&#147;Converted Company Stock-Based
    Award&#148;</I></B>), with the same terms and conditions as were
    applicable under such Company Stock-Based Awards, except to the
    extent otherwise required by the terms of such Company
    Stock-Based Awards or pursuant to the Company Incentive Plan,
    and each holder of Company Stock-Based Awards will be entitled
    to receive a number of Converted Company Stock-Based Awards
    equal to the product of (x)&#160;the number of Company
    Stock-Based Awards held by such holder immediately prior to the
    Effective Time and (y)&#160;the Exchange Ratio; <I>provided</I>,
    <I>however</I>, that the transfer restrictions and forfeiture
    provisions relating to any Company Stock-Based Awards that have
    been granted to the five independent directors of the Company
    (other than the independent director to be designated by the
    Company pursuant to <U>Section&#160;6.17(c)</U> to serve as a
    member of the Partners Board) will lapse immediately prior to
    the Effective Time, and such Company Stock-Based Awards will
    vest in full immediately prior to the Effective Time;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;make such other changes to the Company Incentive Plan
    as may be necessary, proper, desirable or advisable to give
    effect to the Merger (subject to the approval of Partners, which
    will not be unreasonably withheld, conditioned or
    delayed);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;ensure that, after the Effective Time, no Company
    Stock-Based Awards may be granted under the Company Incentive
    Plan and that from and after the Effective Time awards under the
    Company Incentive Plan will be granted with respect to Partners
    Common Units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;At the Effective Time, and subject to compliance by the
    Company with <U>Section&#160;3.5(a)</U>, Partners will assume
    all the obligations of the Company under the Company Incentive
    Plan, each outstanding Company Stock-Based Award and the
    agreements evidencing the grants thereof. As soon as practicable
    after the Effective Time, Partners will deliver to the holders
    of Company Stock-Based Awards appropriate notices setting forth
    such holders&#146; rights pursuant to the Company Incentive
    Plan, and the agreements evidencing the
</DIV>
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    <BR>
    A-14
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    grants of such Company Stock-Based Awards will continue in
    effect on the same terms and conditions (subject to the
    adjustments required by this <U>Section&#160;3.5</U> after
    giving effect to the Merger).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Partners will take all corporate action necessary to
    reserve for issuance a sufficient number of Partners Common
    Units for delivery at the Effective Time of Converted Company
    Stock-Based Awards assumed in accordance with this
    <U>Section&#160;3.5</U>.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;IV
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ACTIONS PENDING MERGER
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>4.1&#160;&#160;<I>Covenants
    of the Company.</I>&#160;&#160;During the period from the date
    of this Agreement and continuing until the Effective Time, the
    Company agrees as to itself and its Subsidiaries that without
    the written consent of Partners, which shall not be unreasonably
    withheld, delayed or conditioned (except as expressly
    contemplated or permitted by this Agreement or a correspondingly
    numbered subsection of the Company Disclosure Schedule):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>New Business.</I>&#160;&#160;The Company shall not,
    and the Company shall not permit any of its Subsidiaries to,
    enter into any new material line of business that is not in the
    shipping industry.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Ordinary Course.</I>&#160;&#160;The Company and its
    Subsidiaries shall carry on their existing businesses in the
    ordinary course consistent with past practices in all material
    respects and in material compliance with all applicable Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>Dividends; Changes in Share
    Capital.</I>&#160;&#160;Except as required under the Company
    Articles of Incorporation, the Company Bylaws or the
    organizational documents of the Company&#146;s Subsidiaries or
    as contemplated by this Agreement, the Company shall not, and
    shall not permit any of its Subsidiaries to, (i)&#160;declare or
    pay any dividends or other distributions (whether in the form of
    cash, equity or property) in respect of any of its equity
    securities except, solely in the case of the Company, the
    declaration and payment of a regular quarterly dividend for the
    quarter ended March&#160;31, 2011 and the quarter ending
    June&#160;30, 2011, in each case not in excess of $0.25 per
    share of Company Common Stock and Company Class&#160;B Stock
    with usual record and payment dates for such dividend in
    accordance with past dividend practice, (ii)&#160;split, combine
    or reclassify any of its Company Common Stock or Company
    Class&#160;B Stock, or (iii)&#160;repurchase, redeem or
    otherwise acquire any of its equity securities, except by a
    wholly-owned Subsidiary of the Company that remains a
    wholly-owned Subsidiary of the Company after consummation of
    such transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Issuance of Securities.</I>&#160;&#160;Except as
    provided in the Company Incentive Plan, the Company shall not,
    and shall not permit any of its Subsidiaries to, issue, deliver,
    sell, pledge or dispose of, or propose or authorize the
    issuance, delivery, sale, pledge or disposition of, any of its
    equity securities of any class, any Voting Debt or any
    securities convertible into or exercisable for, or any Rights,
    warrants, calls or options to acquire, any such securities,
    partnership units or Voting Debt, or enter into any commitment,
    arrangement, undertaking or agreement with respect to any of the
    foregoing, other than issuances, sales or deliveries by a
    Subsidiary of the Company of equity securities to such
    Subsidiary&#146;s parent or another Subsidiary of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Governing Documents.</I>&#160;&#160;Except to the
    extent required to comply with its obligations hereunder or
    applicable Law, the Company shall not amend or propose to amend
    the Company Articles of Incorporation or Company Bylaws, and
    shall cause each of its Subsidiaries not to amend or propose to
    amend the organizational documents of any of such Subsidiary, in
    a manner that would be materially adverse to the interests of
    the holders of Partnership Common Units or that would adversely
    affect the holders of Partners Common Units compared to
    Stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>No Merger.</I>&#160;&#160;The Company shall not
    merge or consolidate with or sell all or substantially all of
    its assets to any Person or effect any unit exchange having a
    substantially similar effect, other than such transactions
    between or among direct or indirect wholly-owned Subsidiaries of
    the Company.
</DIV>
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    <BR>
    A-15
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>Accounting Methods; Tax
    Elections.</I>&#160;&#160;Except as disclosed in the Company SEC
    Documents filed prior to the date of this Agreement, or as
    required by a Governmental Authority, the Company shall not
    change in any material respect its methods of accounting in
    effect at December&#160;31, 2010, except to comply with changes
    in GAAP as concurred in by the Company&#146;s independent public
    accountants. The Company shall not (i)&#160;change its fiscal
    year or any method of tax accounting or (ii)&#160;make any
    material Tax election, in each case except as required by Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Certain Actions.</I>&#160;&#160;The Company and its
    Subsidiaries shall not take any action or omit to take any
    action which action or omission would reasonably be expected to
    (i)&#160;prevent or materially delay or impede the consummation
    of the Merger or the other transactions contemplated by this
    Agreement or Merger or (ii)&#160;result in a material violation
    of this Agreement, except, in each case, as may be required by
    applicable Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>Acquisitions and Dispositions.</I>&#160;&#160;Except
    for acquisitions set forth in <U>Section&#160;4.1(i)</U> of the
    Company Disclosure Schedule and other than capital expenditures
    and obligations or liabilities allocated under the Company
    Management Agreement and other capital expenditures and
    obligations, the Company shall not, and shall not permit any of
    its Subsidiaries to, (A)&#160;incur or commit to any capital
    expenditures or any obligations or liabilities to unaffiliated
    third parties in connection therewith relating to the
    construction of one or more vessels, or (B)&#160;acquire, or
    agree to acquire, by merger or consolidation, or by purchasing a
    substantial equity interest in or a substantial portion of the
    assets of, or by any other manner any business or any
    corporation, partnership, association or other business
    organization or division thereof or otherwise acquire or agree
    to acquire any vessel. The Company shall not, and shall not
    permit any of its Subsidiaries to, sell, lease or otherwise
    dispose of, or agree to sell, lease or otherwise dispose of, in
    each case including, but not limited to, by way of merger, any
    of their vessels (including equity securities of Subsidiaries of
    the Company), except the chartering of vessels in the ordinary
    course of business, consistent with past practice, and except
    for dispositions to or from wholly-owned Subsidiaries of the
    Company, or dispositions to Partially Owned Entities of the
    Company to the extent required pursuant to the governing
    documents of such entities set forth, or not required to be set
    forth, in <U>Section&#160;5.1(a)(iii)</U> of the Company
    Disclosure Schedule.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;<I>Indebtedness.</I>&#160;&#160;The Company shall not,
    and shall not permit any of its Subsidiaries to, except for
    (A)&#160;solely with respect to the Company and any of its
    Subsidiaries, additional borrowing under existing loan
    agreements and refinancing or replacement of such agreements or
    obligations thereunder (provided the aggregate amount of
    indebtedness that may be incurred thereunder is not increased)
    and (B)&#160;borrowings (and associated guarantees) of up to an
    aggregate of $2.0&#160;million principal amount of indebtedness
    under one or more new short-term credit facilities, incur any
    indebtedness for borrowed money or guarantee, assume, endorse or
    otherwise as an accommodation become responsible for any such
    indebtedness of another Person, issue or sell any debt
    securities or warrants or other rights to acquire any debt
    securities of the Company or any of its Subsidiaries, or enter
    into any &#147;keep well&#148; or other agreement to maintain
    any financial condition of another Person (other than any
    wholly-owned Subsidiary). Notwithstanding any other provision of
    this Agreement, the Company and its Subsidiaries shall be
    entitled to transfer funds and make payments to its Subsidiaries
    (i)&#160;to reimburse its Subsidiaries for obligations (which
    otherwise were incurred in compliance with the Agreement) of the
    Company or its Subsidiaries incurred by its Subsidiaries or
    (ii)&#160;in the ordinary course of business consistent with
    past practice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;<I>No Related Actions.</I>&#160;&#160;The Company shall
    not, and shall not permit any of its Subsidiaries to, agree or
    commit to do any of the foregoing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>4.2&#160;&#160;<I>Covenants
    of the Partners Entities.</I>&#160;&#160;During the period from
    the date of this Agreement and continuing until the Effective
    Time, each of the Partners Entities agrees as to itself and its
    Subsidiaries that without the written consent of the Company,
    which consent shall not be unreasonably withheld, delayed or
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    conditioned (except as expressly contemplated or permitted by
    this Agreement or a correspondingly numbered subsection of the
    Partners Disclosure Schedule):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>New Business.</I>&#160;&#160;The Partners Entities
    shall not, and the Partners Entities shall not permit any of
    their respective Subsidiaries to, enter into any new material
    line of business that is not in the shipping industry.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Ordinary Course.</I>&#160;&#160;The Partners
    Entities and their respective Subsidiaries shall carry on their
    existing businesses in the ordinary course consistent with past
    practices in all material respects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>Distributions; Changes in Unit
    Capital.</I>&#160;&#160;Except as required under the Partners
    Certificate of Limited Partnership, Partners Partnership
    Agreement or the organizational documents of its Subsidiaries or
    as contemplated by this Agreement, Partners shall not, and shall
    not permit any of its Subsidiaries to, (i)&#160;solely in the
    case of Partners, declare or pay any special or extraordinary
    distributions in respect of any of its Partners Common Units or
    other equity securities, (ii)&#160;split, combine or reclassify
    any of its Partners Common Units, or (iii)&#160;repurchase,
    redeem or otherwise acquire any of its equity securities or
    Partners Common Units, except for any such transaction or
    distribution consistent with past practices or by a wholly-owned
    Subsidiary of Partners that remains a wholly-owned Subsidiary of
    Partners after consummation of such transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Issuance of Securities.</I>&#160;&#160;Except as
    provided in the Partners Incentive Plan and in
    <U>Section&#160;4(i)</U>, Partners and Partners GP shall not,
    and shall not permit any of their respective Subsidiaries to,
    issue, deliver, sell, pledge or dispose of, or propose or
    authorize the issuance, delivery, sale, pledge or disposition
    of, any of its equity securities of any class, any Voting Debt
    or any securities convertible into or exercisable for, or any
    Rights, warrants, calls or options to acquire, any such
    securities, partnership units or Voting Debt, or enter into any
    commitment, arrangement, undertaking or agreement with respect
    to any of the foregoing, other than issuances, sales or
    deliveries by a Subsidiary of Partners of equity securities to
    such Subsidiary&#146;s parent or another Subsidiary of Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Governing Documents.</I>&#160;&#160;Except to the
    extent required to comply with its obligations hereunder or
    applicable Law, Partners GP and Partners shall not amend or
    propose to amend the Partners GP Certificate of Formation,
    Partners GP LLC Agreement, Partners Certificate of Limited
    Partnership, Partners Partnership Agreement, or the
    organizational documents of any of their respective
    Subsidiaries, in a manner that would be materially adverse to
    the interests of the Stockholders or that would adversely affect
    the Stockholders compared to holders of Partners Common Units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>No Merger.</I>&#160;&#160;Neither Partners nor
    MergerCo shall merge or consolidate with or sell all or
    substantially all of its assets to any Person or effect any unit
    exchange having a substantially similar effect, other than such
    transactions between or among direct or indirect wholly-owned
    Subsidiaries of Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>Accounting Methods; Tax
    Elections.</I>&#160;&#160;Except as disclosed in Partners SEC
    Documents filed prior to the date of this Agreement, or as
    required by a Governmental Authority, Partners shall not change
    in any material respect its methods of accounting in effect at
    December&#160;31, 2010, except to comply with changes in GAAP as
    concurred in by Partners&#146; independent public accountants.
    Partners shall not (i)&#160;change its fiscal year or any method
    of tax accounting or (ii)&#160;make any material Tax election,
    in each case except as required by Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Certain Actions.</I>&#160;&#160;The Partners
    Entities and their respective Subsidiaries shall not take any
    action or omit to take any action which action or omission would
    reasonably be expected to (i)&#160;prevent or materially delay
    or impede the consummation of the Merger or the other
    transactions contemplated by this Agreement or Merger or
    (ii)&#160;result in a material violation of this Agreement,
    except, in each case, as may be required by applicable Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>No Related Actions.</I>&#160;&#160;The Partners
    Entities shall not, and shall not permit any of their respective
    Subsidiaries to, agree or commit to do any of the foregoing;
    <I>provided, however</I>, that nothing in this
    <U>Section&#160;4.2</U> will prohibit any of the Partners
    Entities from acquiring or entering into agreements to
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    acquire vessels (including non-tanker vessels) or the equity of
    any Person owning such vessels and financing such acquisitions
    (by the issuance of equity securities, debt securities or
    otherwise) and taking all other actions reasonably incidental
    thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>4.3&#160;&#160;<I>Governmental
    Filings.</I>&#160;&#160;To the extent permitted by Law or
    regulation or any applicable confidentiality agreement, each of
    the Company and Partners shall confer on a reasonable basis with
    each other on operational matters. The Company and Partners
    shall file all reports required to be filed by each of them with
    the SEC (and all other Governmental Authorities) between the
    date of this Agreement and the Effective Time and shall, if
    requested by the other party (to the extent permitted by Law or
    any applicable confidentiality agreement) deliver to the other
    party copies of all such reports, announcements and publications
    promptly upon request.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;V
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    REPRESENTATIONS AND WARRANTIES
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>5.1&#160;&#160;<I>Representations
    and Warranties of the Company.</I>&#160;&#160;Except as
    disclosed in a section of the Company&#146;s disclosure schedule
    delivered to the Partners Entities concurrently herewith (the
    <B><I>&#147;Company Disclosure Schedule&#148;</I></B>)
    corresponding to the subsection of this <U>Section&#160;5.1</U>
    to which such disclosure applies (provided that the disclosure
    in any paragraph of the Company Disclosure Schedule shall
    qualify other paragraphs in this <U>Section&#160;5.1</U>,
    information called for by other sections of the Company
    Disclosure Schedule or the annexes or exhibits to this Agreement
    to the extent it is reasonably apparent from a reading of such
    disclosure that it also qualifies or applies to such other
    paragraphs, information, annexes or exhibits), or as disclosed
    in the Company SEC Documents filed prior to the date hereof to
    the extent such disclosure on its face appears to constitute
    information that would reasonably be deemed a qualification or
    exception to the following representations and warranties, the
    Company represents and warrants to the Partners Entities as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>Organization</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;The Company is a corporation duly formed, validly
    existing and in good standing under the Laws of the Republic of
    the Marshall Islands. The Company has the requisite corporate
    power and authority to own, lease or otherwise hold, use and
    operate all of its properties and assets and to carry on its
    business as it is now being conducted, and is duly licensed or
    qualified to do business in each jurisdiction in which the
    nature of the business conducted by it or the character or
    location of the properties and assets owned or leased by it
    makes such licensing or qualification necessary, except where
    the failure to have such power or authority or to be so licensed
    or qualified would not constitute a Material Adverse Effect on
    the Company. True and complete copies of the Company Articles of
    Incorporation and Company Bylaws, as in effect as of the date of
    this Agreement, have previously been made available to the
    Partners Entities by the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Each Subsidiary of the Company (1)&#160;is duly formed
    or organized and validly existing under the Laws of its
    jurisdiction of formation or organization, (2)&#160;is duly
    qualified to do business and in good standing in all
    jurisdictions (whether federal, state, local or foreign) where
    its ownership, leasing or otherwise holding, using and operating
    of property or assets or the conduct of its business requires it
    to be so qualified, and (3)&#160;has all requisite corporate,
    partnership or limited liability company power and authority to
    own or lease its properties and assets and to carry on its
    business as now conducted, except in each case where the failure
    to have such power or authority or to be so formed or organized,
    in existence or qualified would not constitute a Material
    Adverse Effect on the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;<U>Section&#160;5.1(a)(iii)</U> of the Company
    Disclosure Schedule sets forth, as of the date of this
    Agreement, a true and complete list of each of the
    Company&#146;s Subsidiaries and Partially Owned Entities.
</DIV>
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    <BR>
    A-18
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Capitalization.</I>&#160;&#160;Except as set forth
    in <U>Section&#160;5.1(b)</U> of the Company Disclosure Schedule:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;The authorized capital stock of the Company consists of
    1,000,000,000&#160;shares of Company Common Stock,
    100,000,000&#160;shares of Company Class&#160;B Stock and
    100,000,000&#160;shares of preferred stock, par value $0.0001
    per share. The Company has no equity interests issued and
    outstanding other than, as of the date of this Agreement,
    (1)&#160;13,899,400&#160;shares of Company Common Stock (of
    which shares 399,400 are restricted shares), and
    (2)&#160;2,105,263&#160;shares of Company Class&#160;B Stock.
    Except as set forth in the preceding sentence, as of the date of
    this Agreement, there are no outstanding (x)&#160;options,
    warrants, preemptive rights, subscriptions, calls or other
    Rights, convertible securities, exchangeable securities,
    agreements or commitments of any character obligating the
    Company or any of its Subsidiaries to issue, transfer or sell
    any equity interest in the Company or any Subsidiary of the
    Company or securities convertible into or exchangeable for such
    equity interests or (y)&#160;contractual obligations of the
    Company or any of its Subsidiaries to repurchase, redeem or
    otherwise acquire any equity interest in the Company or any of
    its Subsidiaries or any such securities or agreements listed in
    clause&#160;(x) of this sentence. The Company has no Voting
    Debt. There are no obligations in excess of $100,000 of the
    Company or its Subsidiaries, in the aggregate, to make any
    investment (in the form of a loan, capital contribution or
    otherwise) in any Person, or pursuant to which the Company or
    any Subsidiary is or could be required to register any units,
    shares or any equity interests of the Company or its
    Subsidiaries or other securities under the Securities Act.
    Neither the Company nor any of its Subsidiaries owns, or has any
    contractual or other obligation to acquire, any equity
    securities or other securities of any Person (other than in the
    Company or its Subsidiaries) or any direct or indirect equity or
    ownership interest in any other business. Except for this
    Agreement, there are no voting trusts, proxies or other
    agreements, commitments or understandings of any character to
    which either the Company or its Subsidiaries is a party or by
    which any of them is bound with respect to the holding, voting
    or disposition of any units, shares or any equity interests of
    the Company or its Subsidiaries, except pursuant to the
    applicable governing documents of the Company or its
    Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;The shares of Company Common Stock and Company
    Class&#160;B Stock have been duly authorized and validly issued
    in accordance with applicable Laws and the Company Articles of
    Incorporation and Company Bylaws, and are fully paid and
    non-assessable. Such equity interests were not issued in
    violation of pre-emptive or similar rights or any other
    agreement or understanding binding on the Company. All of the
    outstanding equity interests of the Subsidiaries of the Company
    and the Partially Owned Entities of the Company have been duly
    authorized and are validly issued, fully paid (to the extent
    required under the applicable governing documents) and
    non-assessable and free of pre-emptive rights (except in each
    case (1)&#160;with respect to general partner interests,
    (2)&#160;as set forth to the contrary in the applicable
    governing documents and (3)&#160;to the extent such
    non-assessability may be affected by applicable Laws) and were
    not issued in violation of pre-emptive or similar rights; and
    all such units, shares and other equity interests, other than
    interests in the Partially Owned Entities of the Company that
    are owned by others, are owned, directly or indirectly, by the
    Company, free and clear of all Liens, except pursuant to the
    applicable governing documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;No Subsidiary or any Partially Owned Entity of the
    Company has any Voting Debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>Authority; No Violation.</I>&#160;&#160;Except as
    set forth in <U>Section&#160;5.1(c)</U> of the Company
    Disclosure Schedule:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;The Company has the requisite corporate power and
    authority to execute and deliver this Agreement and to
    consummate the transactions contemplated hereby. The execution
    and delivery of this Agreement and the consummation of the
    transactions contemplated hereby have been duly and validly
    approved by the Company Board (upon recommendation by the
    Company Independent Directors&#146; Committee), at a duly
    convened meeting thereof. The Company, acting through the
    Company Board, has directed that this Agreement be submitted to
    the Stockholders for approval at the Company Meeting. Except for
    approvals that have been previously obtained, the Company
    Stockholder Approval and the Company Unaffiliated Stockholder
    Approval, no other votes or
</DIV>
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    <BR>
    A-19
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    approvals on the part of the Company are necessary to approve
    this Agreement and to consummate the transactions contemplated
    hereby. This Agreement has been duly and validly executed and
    delivered by the Company and (assuming due authorization,
    execution and delivery by the Partners Entities) constitutes a
    valid and binding obligation of the Company, enforceable against
    the Company in accordance with its terms (except insofar as such
    enforceability may be limited by bankruptcy, insolvency,
    fraudulent transfer, reorganization, moratorium and similar Laws
    relating to or affecting creditors&#146; rights generally and by
    general principles of equity (regardless of whether such
    enforceability is considered in a proceeding in equity or at
    Law)).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Neither the execution and delivery of this Agreement
    by the Company, nor the consummation by the Company of the
    transactions contemplated hereby, nor compliance by the Company
    with any of the terms or provisions hereof, will (1) (subject to
    receiving the Company Stockholder Approval and the Company
    Unaffiliated Stockholder Approval) violate any provision of the
    Company Articles of Incorporation or Company Bylaws or the
    organizational documents of its Subsidiaries, or
    (2)&#160;assuming that the consents and approvals referred to in
    <U>Section&#160;5.1(d)</U> are duly obtained, (x)&#160;violate
    any Law applicable to the Company, any of its Subsidiaries or,
    to the Company&#146;s Knowledge, any Partially Owned Entities of
    the Company or any of their respective properties or assets or
    (y)&#160;violate, conflict with, result in a breach of any
    provision of or the loss of any benefit under, constitute a
    default (or an event which, with notice or lapse of time, or
    both, would constitute a default) under, result in the
    termination of or a right of termination or cancellation under,
    accelerate the performance required by, accelerate any right or
    benefit provided by, or result in the creation of any Lien upon
    any of the respective properties or assets of the Company, any
    of its respective Subsidiaries or, to the Company&#146;s
    Knowledge, any Partially Owned Entities of the Company under,
    any of the terms, conditions or provisions of any note, bond,
    mortgage, indenture, deed of trust, license, lease, agreement or
    other instrument or obligation to which the Company, any
    Subsidiary of the Company or, to the Company&#146;s Knowledge,
    any Partially Owned Entities of the Company is a party, or by
    which they or any of their respective properties or assets are
    bound, except in each case for such violations, conflicts,
    breaches, losses, defaults, terminations, cancellations,
    accelerations or Liens which would not constitute a Material
    Adverse Effect on the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Consents and Approvals.</I>&#160;&#160;Except for
    (i)&#160;the filing of any required applications or notices with
    any state or foreign agencies of competent jurisdiction and
    approval of such applications and notices (the <B><I>&#147;Other
    Approvals&#148;</I></B>) as set forth on
    <U>Section&#160;5.1(d)</U> of the Company Disclosure Schedule,
    (ii)&#160;the filing of the Proxy Statement and the Registration
    Statement, (iii)&#160;the filing of the Articles of Merger with
    the Registrar or Deputy Registrar of Corporations of the
    Republic of the Marshall Islands, (iv)&#160;any consents,
    authorizations, approvals, filings or exemptions in connection
    with compliance with the rules of the NYSE or NASDAQ, as
    applicable, (v)&#160;such filings and approvals as may be
    required to be made or obtained under the securities or
    &#147;Blue Sky&#148; laws of various states in connection with
    the issuance of the New Partners Common Units pursuant to this
    Agreement (the consents, authorizations, approvals, filings and
    registration required under or in relation to the foregoing
    clauses&#160;(i) through (v)&#160;being referred to as the
    <B><I>&#147;Company Necessary Consents&#148;</I></B>),
    (vi)&#160;any consents or waivers required to be obtained under
    the Company Credit Facility and (vii)&#160;such other consents,
    authorizations, approvals, filings and registrations, the
    failure of which to obtain or make would not constitute a
    Material Adverse Effect on the Company, no consents or approvals
    of or filings or registrations with any Governmental Authority
    are necessary in connection with (1)&#160;the execution and
    delivery by the Company of this Agreement or (2)&#160;the
    consummation by the Company of the transactions contemplated by
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Financial Reports and SEC Documents; Disclosure and
    Internal Controls</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;The Company 20-F and all other reports, registration
    statements, definitive proxy statements or information
    statements filed or furnished by the Company or any of its
    Subsidiaries subsequent to March&#160;1, 2010, including, but
    not limited to, items incorporated by reference into or referred
    to in such reports, registration statements, proxy statements or
    information statements under the Securities Act or the Exchange
    Act, in the form filed or furnished (collectively, the
    <B><I>&#147;Company SEC Documents&#148;</I></B>), with the SEC
    as of their respective dates, (1)&#160;complied in all material
    respects as to form with the applicable
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    requirements under the Securities Act, the Exchange Act or SOX,
    as the case may be, and (2)&#160;did not contain any untrue
    statement of a material fact or omit to state a material fact
    required to be stated therein or necessary to make the
    statements made therein, in light of the circumstances under
    which they were made, not misleading. The historical financial
    statements (including the related notes and supporting
    schedules) contained in the Company SEC Documents
    (A)&#160;comply in all material respects with the applicable
    requirements under the Securities Act and the Exchange Act,
    (B)&#160;present fairly in all material respects the financial
    position, results of operations and cash flows of the entities
    purported to be shown thereby on the basis stated therein at the
    respective dates or for the respective periods, and
    (C)&#160;have been prepared in accordance with GAAP consistently
    applied throughout the periods involved, except in each case to
    the extent disclosed therein. There are no outstanding comments
    from, or unresolved issues raised by, the SEC with respect to
    the Company SEC Documents. No enforcement action has been
    initiated, or to the Knowledge of the Company, is threatened,
    against the Company relating to disclosures contained in any
    Company SEC Document.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;The Company has designed and maintains a system of
    internal accounting controls sufficient to provide reasonable
    assurances regarding the reliability of financial reporting and
    the preparation of financial statements for external purposes in
    accordance with GAAP. The Company has (1)&#160;designed
    disclosure controls and procedures (within the meaning of Rules
    <FONT style="white-space: nowrap">13a-15(e)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(e)</FONT> of
    the Exchange Act) to ensure that material information relating
    to the Company and its Subsidiaries is made known to the
    management of the Company by others within those entities as
    appropriate to allow timely decisions regarding required
    disclosure and to make the certifications required by the
    Exchange Act with respect to the Company SEC Documents and
    (2)&#160;disclosed, based on its most recent evaluation prior to
    the date of this Agreement, to the Company&#146;s outside
    auditors and the audit committee of the Company Board
    (i)&#160;any significant deficiencies and material weaknesses in
    the design or operation of internal controls over financial
    reporting (within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;13a-l</FONT>
    5(f) of the Exchange Act) which are reasonably likely to
    adversely affect the Company&#146;s ability to record, process,
    summarize and report financial information and (ii)&#160;any
    fraud, whether or not material, that involves management or
    other employees who have a significant role in the
    Company&#146;s internal controls over financial reporting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;Deloitte, Hadjipavlou, Sofianos&#160;&#038; Cambanis,
    S.A., who audited the audited financial statements contained in
    the Company 20-F, is an independent registered public accounting
    firm with respect to the Company within the meaning of the
    Securities Act and the applicable rules and regulations
    thereunder adopted by the SEC and the Public Company Accounting
    Oversight Board (United States).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;The Company has made available (to the extent not
    available to the public on the SEC&#146;s EDGAR website) to
    Partners each Company SEC Document, each in the form (including
    exhibits and any amendments thereto) filed with or furnished to
    the SEC prior to the date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>Foreign Private Issuer.</I>&#160;&#160;The Company
    is a &#147;foreign private issuer&#148; (as defined in
    Rule&#160;405 under the Securities Act).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>Relations with Governments.</I>&#160;&#160;To the
    Knowledge of the Company, except as would constitute a Material
    Adverse Effect on the Company, neither the Company nor any of
    its Subsidiaries, nor any director, officer, agent or employee
    of the Company or any of its Subsidiaries, has (i)&#160;used any
    funds for unlawful contributions, gifts, entertainment or other
    unlawful expenses related to political activity, (ii)&#160;made
    any unlawful payment or offered anything of value to foreign or
    domestic government officials or employees or to foreign or
    domestic political parties or campaigns, (iii)&#160;made any
    other unlawful payment, or (iv)&#160;violated any applicable
    export control, money laundering or anti-terrorism Law or
    regulation, nor have any of them otherwise taken any action
    which would cause the Company or any of its Subsidiaries to be
    in violation of the Foreign Corrupt Practices Act of 1977, as
    amended, or any applicable Law of similar effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Absence of Undisclosed
    Liabilities.</I>&#160;&#160;Except as disclosed in the audited
    financial statements (or notes thereto) included in the Company
    20-F or in the financial statements (or notes thereto) included
    in subsequent Company SEC Documents filed prior to the date
    hereof, neither the Company nor any of its Subsidiaries had at
    December&#160;31, 2010, or has incurred since that date, any
    liabilities or obligations
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (whether absolute, accrued, contingent or otherwise and whether
    due or to become due) of any nature, except liabilities,
    obligations or contingencies that (i)&#160;are accrued or
    reserved against in the financial statements of the Company
    included in the Company SEC Documents filed prior to the date
    hereof, or reflected in the notes thereto, (ii)&#160;were
    incurred since December&#160;31, 2010 in the ordinary course of
    business and consistent with past practices, (iii)&#160;would
    not constitute a Material Adverse Effect on the Company,
    (iv)&#160;have been discharged or paid in full prior to the date
    hereof or (v)&#160;arise under this Agreement and the
    transactions contemplated by this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>Absence of Certain Changes or
    Events.</I>&#160;&#160;Since December&#160;31, 2010, no event or
    events have occurred that would constitute a Material Adverse
    Effect on the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;<I>Legal Proceedings.</I>&#160;&#160;Except as set
    forth in <U>Section&#160;5.1(j)</U> of the Company Disclosure
    Schedule, there is no suit, action or proceeding or
    investigation pending before any Governmental Authority or, to
    the Knowledge of the Company, threatened, against or affecting
    the Company or any its Subsidiaries that would constitute a
    Material Adverse Effect on the Company, nor is there any
    judgment, decree, injunction, rule or order of any Governmental
    Authority outstanding against the Company or any Subsidiary that
    would constitute any such effect. There is no order or
    settlement agreement imposed on the Company or its Subsidiaries
    (or that, upon consummation of the transactions contemplated
    hereby) that would constitute a Material Adverse Effect on the
    operations and business of the Company or its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;<I>Compliance with Applicable Law.</I>&#160;&#160;The
    Company and each of its Subsidiaries hold all licenses,
    franchises, permits and authorizations necessary for the lawful
    conduct of their respective businesses under and pursuant to
    each, and have complied in all respects with, and are not in
    default under any, applicable Law relating to the Company or any
    of its Subsidiaries, except where the failure to hold such
    license, franchise, permit or authorization or such
    noncompliance or default would not constitute a Material Adverse
    Effect on the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;<I>Contracts</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Except for this Agreement or as designated as an
    exhibit to the Company 20-F or to a Company SEC Document filed
    thereafter and prior to the date of this Agreement, and except
    as set forth in <U>Section&#160;5.1(l)(i)</U> of the Company
    Disclosure Schedule, neither the Company nor any of its
    Subsidiaries is a party to or bound by, as of the date hereof,
    any agreement, contract, arrangement, commitment or instrument
    (whether written or oral) (1)&#160;which is a &#147;material
    contract&#148; (as such term is used in Item&#160;601(b)(10) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    of the SEC) with respect to the Company and its Subsidiaries
    required to be filed with the SEC that has not been filed,
    (2)&#160;which, upon the consummation of the Merger or upon
    receipt of the Company Stockholder Approval or the Company
    Unaffiliated Stockholder Approval, will (either alone or upon
    the occurrence of any additional acts or events) result in any
    payment (whether of severance pay or otherwise) becoming due
    from the Company, Partners GP, Partners, the Surviving Entity or
    any of their respective Subsidiaries to any director, officer,
    employee, consultant or contractor who performs services for the
    benefit of the Company or a Subsidiary of the Company,
    (3)&#160;which is a &#147;material contract&#148; (as such term
    is defined in Item&#160;601(b)(10) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K),</FONT>
    or an amendment to or termination thereof, that would be
    required to be disclosed on a Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC (if the Company were required to file such
    reports), to be performed after the date of this Agreement that
    has not been filed or incorporated by reference in the Company
    SEC Documents filed prior to the date of this Agreement or
    (4)&#160;which are material and containing change of control
    provisions triggered by the consummation of the transactions
    contemplated by this Agreement. Each agreement, contract,
    arrangement, commitment or instrument of the type described in
    this <U>Section&#160;5.1(l)</U>, whether or not set forth in the
    Company Disclosure Schedule or in such Company SEC Documents, is
    referred to herein as a <B><I>&#147;Company
    Contract</I></B>.&#148; No Company Contract has been amended or
    modified, except for such amendments or modifications which have
    been filed as an exhibit to a subsequently dated and filed
    Company SEC Document or are not required to be filed with the
    SEC and set forth in <U>Section 5.1(l)(i)</U> of the Company
    Disclosure Schedule.
</DIV>
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    <BR>
    A-22
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;All of the Company Contracts are valid and in full
    force and effect and enforceable in accordance with their terms,
    except insofar as such enforceability may be limited by
    bankruptcy, insolvency, fraudulent transfer, reorganization,
    moratorium and similar Laws relating to or affecting
    creditors&#146; rights generally and by general principles of
    equity (regardless of whether such enforceability is considered
    in a proceeding in equity or at law), except (i)&#160;to the
    extent that they have previously expired in accordance with
    their terms or (ii)&#160;for any failures to be in full force
    and effect that would not constitute a Material Adverse Effect
    on the Company. Neither the Company nor any of its Subsidiaries,
    nor, to the Knowledge of the Company, any counterparty to any of
    the Company Contracts, has violated any provision of, or
    committed or failed to perform any act which, with or without
    notice, lapse of time or both, would constitute a default under
    the provisions of any of the Company Contracts, except in each
    case for those violations and defaults which would not
    constitute a Material Adverse Effect on the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (m)&#160;<I>Insurance.</I>&#160;&#160;All material Policies of
    the Company and its Subsidiaries are in full force and effect
    and provide insurance in such amounts and against such risks as
    is sufficient to comply with applicable Law and as is customary
    for the industries in which the Company and its Subsidiaries
    operate, in each case, except as, individually or in the
    aggregate, would not constitute a Material Adverse Effect on the
    Company. Neither the Company nor its Subsidiaries are in breach
    or default under, and neither the Company nor its Subsidiaries
    have taken any action or failed to take any action which, with
    notice or the lapse of time, would constitute such a breach or
    default, or permit termination or modification of, any Policies,
    in each case, except as would not constitute a Material Adverse
    Effect on the Company. To the Knowledge of the Company, there is
    no threatened termination of, or material premium increase with
    respect to, any current Policy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (n)&#160;<I>Environmental Matters.</I>&#160;&#160;Except as set
    forth in <U>Section&#160;5.1(n)</U> of the Company Disclosure
    Schedule, and except as would not constitute a Material Adverse
    Effect on the Company: (1)&#160;the Company, its Subsidiaries,
    Partially Owned Entities of the Company and their respective
    businesses, operations, properties and Assets are and have been
    in compliance with all Environmental Laws and all permits,
    registrations, licenses, approvals, exemptions, variances, and
    other authorizations required under Environmental Laws
    (<B><I>&#147;Environmental Permits&#148;</I></B>); (2)&#160;the
    Company, its Subsidiaries and Partially Owned Entities of the
    Company have obtained or timely filed for all Environmental
    Permits for their respective businesses, operations, properties
    and Assets as they currently exist and are operated and all such
    Environmental Permits are currently in full force and effect;
    (3)&#160;neither the Company nor any Subsidiary of the Company
    nor any of their respective businesses, operations, properties
    or Assets, or, to the Knowledge of the Company, Partially Owned
    Entities of the Company, or their respective businesses,
    operations, properties and Assets, are subject to any pending
    or, to the Knowledge of the Company, threatened claims, actions,
    suits, writs, injunctions, decrees, orders, judgments,
    investigations, inquiries or proceedings relating to their
    compliance with Environmental Laws; (4)&#160;within the six
    years prior to the date of this Agreement, there has been no
    Release of Hazardous Substances on, under or from the current or
    former property owned, leased or operated by the Company, its
    Subsidiaries, or Partially Owned Entities of the Company and
    none of the Company, its Subsidiaries or Partially Owned
    Entities of the Company has treated, recycled, stored, disposed
    of, arranged for or permitted the disposal of, transported,
    handled, Released any substance, including any Hazardous
    Substances, or owned or operated any property or facility in a
    manner that has given or would give rise to any damages,
    including any damages for response costs, corrective action
    costs, personal injury, property damage or natural resource
    damages, pursuant to any Environmental Laws; (5)&#160;none of
    the Company, any of its Subsidiaries or Partially Owned Entities
    of the Company has received any notice regarding any actual or
    alleged violation of any Environmental Laws or any liabilities,
    including any investigatory, remedial or corrective liabilities,
    relating to the Company, its Subsidiaries or Partially Owned
    Entities of the Company arising under Environmental Laws;
    (6)&#160;none of the Company, its Subsidiaries or Partially
    Owned Entities of the Company has, either expressly or by
    operation of Law, assumed or undertaken any liability, including
    any obligation for the corrective or remedial action, of any
    other Person relating to Environmental Laws; and (7)&#160;there
    are not any existing, or to the Knowledge of the Company,
    pending or threatened actions, suits, claims, investigations,
    inquiries or proceedings by or before any court or any other
    Governmental
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Authority directed against the Company, its Subsidiaries or
    Partially Owned Entities of the Company that pertain to or
    relate to the actual or alleged violation of Environmental Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (o)&#160;<I>Employee Benefit Plans; Distribution Reinvestment
    Plan.</I>&#160;&#160;Neither the Company nor any of its
    Subsidiaries has any employees or sponsors, maintains,
    participates in or contributes to or has any Compensation and
    Benefit Plans other than reimbursements pursuant to the Company
    Management Agreement and the Company Incentive Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (p)&#160;<I>Vessels; Property</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<U>Section&#160;5.1(p)(i)</U> of the Company Disclosure
    Schedule sets forth the name, owner, flag state of registration
    (including any bareboat registration), charterer, International
    Maritime Organization number and call sign, classification
    society, year of construction and capacity (gross tonnage or
    deadweight tonnage, as specified therein) for all of the vessels
    currently owned by the Company and its Subsidiaries (the
    <B><I>&#147;Company Vessels&#148;</I></B>). Each Company Vessel
    is owned directly by the applicable Subsidiary of the Company as
    set forth on <U>Section&#160;5.1(p)(i)</U> of the Company
    Disclosure Schedule and such Subsidiary of the Company has good
    and marketable title to the applicable Company Vessel owned by
    it, free and clear of all Liens. Except as would not constitute
    a Material Adverse Event on the Company, each Company Vessel
    listed on <U>Section&#160;5.1(p)(i)</U> of the Company
    Disclosure Schedule is duly registered in the name of the
    Subsidiary that owns it under the Laws and the flag of such
    Company&#146;s Vessel&#146;s flag state (as set forth on
    <U>Section&#160;5.1(p)(i)</U> of the Company Disclosure
    Schedule) and no other action is necessary to establish and
    perfect such Subsidiary&#146;s title to and interest in the
    applicable Company Vessel as against any charterer or third
    party. The Company or its Subsidiaries do not own, operate, use
    or charter any vessels other than those set forth on <U>Section
    5.1(p)(i)</U> of the Company Disclosure Schedule.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Except as set forth in <U>Section&#160;5.1(p)(ii)</U>
    of the Company Disclosure Schedule (x)&#160;each Company Vessel
    is (1)&#160;certified by a member of the International
    Association of Classification Societies and (2)&#160;materially
    in class with valid classification certificates and national
    certificates, as well as all other valid certificates such
    Company Vessel had as of the date of this Agreement and
    (y)&#160;to the Knowledge of the Company, (1)&#160;no event has
    occurred and no condition exists that would cause such Company
    Vessel&#146;s class to be suspended or withdrawn and
    (2)&#160;each Company Vessel is free of average damage affecting
    its class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (q)&#160;<I>Takeover Laws; Dissent Rights.</I>&#160;&#160;No
    Takeover Laws or anti-takeover provision in the Company Articles
    of Incorporation or Company Bylaws will apply to this Agreement
    or the transactions contemplated hereby, or would prohibit or
    restrict the ability of the Company to perform its obligations
    under this Agreement or its ability to consummate the
    transactions contemplated hereby, including the Merger. No
    Stockholder has any right to demand appraisal of any shares of
    Company Common Stock, Company Class&#160;B Stock or other
    securities of the Company or rights to dissent which may arise
    with respect to this Agreement or the transactions contemplated
    hereby, other than any holder of Company Class&#160;B Stock, in
    such capacity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (r)&#160;<I>Opinion of Financial Advisor.</I>&#160;&#160;The
    Company Independent Directors&#146; Committee has received the
    opinion of Jefferies&#160;&#038; Company, Inc.
    (<B><I>&#147;Jefferies&#148;</I></B>), dated the date of this
    Agreement, to the effect that, as of the date of such opinion,
    the Exchange Ratio is fair to the Company Unaffiliated
    Stockholders from a financial point of view.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (s)&#160;<I>Approvals of the Company Independent Directors&#146;
    Committee and the Company Board.</I>&#160;&#160;At a meeting
    duly called and held, the Company Independent Directors&#146;
    Committee, by unanimous vote of all its members, other than
    Socrates Kominakis, who recused himself on February&#160;17,
    2011, from all Company Independent Directors&#146; Committee
    deliberations regarding the transactions contemplated by this
    Agreement, (i)&#160;determined that this Agreement and the
    transactions contemplated hereby, including the Merger, are fair
    and reasonable to, and in the best interests of, the Company and
    the Company Unaffiliated Stockholders, (ii)&#160;recommended to
    the Company Board that it declare the advisability of, and
    approve, this Agreement and the transactions contemplated
    hereby, including the Merger and (iii)&#160;resolved to
    recommend that the Stockholders adopt this Agreement. At a
    meeting duly called and held, the
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Company Board, by unanimous vote of all members,
    (w)&#160;determined that this Agreement and the transactions
    contemplated hereby, including the Merger, are fair and
    reasonable to, and in the best interests of the Company and the
    Company Unaffiliated Stockholders, (x)&#160;declared it
    advisable to enter into this Agreement, (y)&#160;approved this
    Agreement and the execution, delivery and performance by the
    Company of this Agreement and the consummation of the
    transactions contemplated thereby, including the Merger and
    (z)&#160;resolved to recommend to the Stockholders that they
    adopt this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (t)&#160;<I>Broker&#146;s Fees.</I>&#160;&#160;Neither the
    Company nor any of its Subsidiaries nor any of their respective
    officers or directors has employed any broker or finder or
    incurred any liability for any broker&#146;s fees, commissions
    or finder&#146;s fees in connection with the transactions
    contemplated by this Agreement, except Jefferies, whose fees and
    expenses will be paid by the Company in accordance with the
    existing agreement with such firm.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (u)&#160;<I>Certain Tax Matters.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;All Tax Returns required to be filed by or on behalf of
    the Company and its Subsidiaries by the Code or by applicable
    state, local or foreign Tax Laws with any Tax authority prior to
    the date hereof have been timely filed. All Tax Returns filed by
    the Company and its Subsidiaries are true, correct and complete
    in all material respects. All material Taxes due and payable of
    the Company and its Subsidiaries (whether or not reflected on
    any such Tax Returns) have been timely paid in full.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;None of the Company or its Subsidiaries have any
    liability for any unpaid Taxes which have not been accrued for
    or reserved on the Company&#146;s balance sheets included in the
    latest Company SEC Document filed prior to the date hereof
    (without taking into account any reserve for deferred taxes),
    which is material to the Company and its Subsidiaries, other
    than any liability for unpaid Taxes that may accrue on the
    Closing Date or may have accrued since the end of the most
    recent fiscal year in connection with the operation of the
    business of the Company in the ordinary course, none of which is
    material to the business, results of operations or financial
    condition of the Company or its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;There are no liens for Taxes with respect to any of
    the assets or properties of the Company or its Subsidiaries,
    other than with respect to Taxes not yet due and payable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;All material Taxes that the Company or any of its
    Subsidiaries is required by Law to withhold or collect have been
    duly withheld or collected, and have been timely paid over to
    the proper Governmental Authorities or deposited in accordance
    with applicable Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;Neither the Company nor any of its Subsidiaries has
    been delinquent in the payment of any material Tax nor is there
    any material Tax deficiency outstanding, proposed or assessed in
    writing against the Company or any of its Subsidiaries, as
    applicable, nor has the Company or any of its Subsidiaries
    executed, or been requested to execute, any unexpired waiver of
    any statute of limitations on or extending the period for the
    assessment or collection of any material Tax. Neither the
    Company nor any of its Subsidiaries has requested any extension
    of time within which to file any Tax Return, which return has
    not yet been filed. No power of attorney with respect to any
    material Taxes has been executed or filed with any Tax authority
    by or on behalf of the Company or its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vi)&#160;No audit or other examination of any Tax Return of the
    Company or any of its Subsidiaries by any Tax authority is in
    progress, nor has the Company or any of its Subsidiaries been
    notified in writing of any request for such an audit or other
    examination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vii)&#160;Neither the Company nor any of its Subsidiaries
    (x)&#160;is a party to or is bound by any Tax sharing agreement,
    Tax indemnity obligation or similar agreement, arrangement or
    practice with respect to Taxes (including, without limitation,
    any advance pricing agreement, closing agreement or other
    agreement relating to Taxes with any Tax authority); (y)&#160;is
    or has ever been a member of an affiliated group (other than a
    group the common parent of which is the Company) filing a
    consolidated federal income tax return; or (z)&#160;has any
    liability for Taxes of any Person arising from the application
    of Treasury Regulation 1.1502-6 or any analogous provision of
    state, local or foreign law, or as a transferee or successor, or
    by contract.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (viii)&#160;Neither the Company nor any of its Subsidiaries will
    be required to include in a taxable period ending after the
    Closing Date any taxable income attributable to income that
    accrued, but was not recognized, in any taxable period ending on
    or before the Closing Date or, with respect to the portion of
    such period that ends on the Closing Date, any taxable period
    that includes (but does not end on) such date (a
    <B><I>&#147;Pre-Closing Tax Period&#148;</I></B>), as a result
    of an adjustment under Section&#160;481 of the Code, the
    installment method of accounting, the long-term contract method
    of accounting, the cash method of accounting, any comparable
    provision of state, local, or foreign Tax law, or for any other
    reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ix)&#160;The Company has made available for inspection to the
    Partners Entities complete and correct copies of all material
    Tax Returns of the Company and its Subsidiaries for all taxable
    periods for which the applicable statute of limitations has not
    yet expired.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (x)&#160;<U>Section&#160;5.1(u)(x)</U> of the Company Disclosure
    Schedule sets forth (i)&#160;each jurisdiction in which the
    Company or any Subsidiary joins, has joined or is or has been
    required to join for any taxable period ending after 2008 in the
    filing of any consolidated, combined or unitary Tax Return, and
    (ii)&#160;the common parent corporation and the other individual
    members of the consolidated, combined or unitary group filing
    such Tax Return.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xi)&#160;<U>Section&#160;5.1(u)(xi)</U> of the Company
    Disclosure Schedule sets forth each state or foreign
    jurisdiction in which the Company or any Subsidiary files, or is
    or has been required to file, a Tax Return relating to material
    state income, franchise, license, excise, net worth, property or
    sales and use taxes or is or has been liable for any material
    Taxes on a &#147;nexus&#148; basis at any time for a taxable
    period for which the relevant statutes of limitation have not
    expired.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xii)&#160;The Company is not a passive foreign investment
    company within the meaning of Section&#160;1297 of the Code.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xiii)&#160;The Company is not aware of any fact or circumstance
    that would prevent or impede, or could be reasonably be expected
    to prevent or impede, the Merger from qualifying as a
    &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;<I>Collective Bargaining
    Agreements.</I>&#160;&#160;Neither the Company nor any of its
    Subsidiaries is a party to any collective bargaining or other
    labor union contract applicable to Company Employees, and no
    collective bargaining agreement or other labor union contract is
    being negotiated by the Company or any of its Subsidiaries. No
    labor organization or group of Company Employees that are
    situated at any facility (or on any vessel) owned, leased or
    operated by the Company or any of its Subsidiaries has made a
    pending demand for recognition or certification, and there are
    no representation or certification proceedings or petitions
    seeking a representation proceeding presently pending or, to the
    Knowledge of the Company, threatened to be brought or filed,
    with any labor relations tribunal or authority. Except as would
    not constitute a Material Adverse Effect on the Company, to the
    Knowledge of the Company, (i)&#160;there is no labor dispute,
    strike, slowdown, work stoppage or any other similar dispute or
    controversy against the Company or any of its Subsidiaries
    pending or threatened against the Company or any of its
    Subsidiaries and (ii)&#160;no unfair labor practice or labor
    charge or complaint has occurred with respect to the Company or
    any of its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (w)&#160;<I>Regulation as an Investment
    Company.</I>&#160;&#160;Neither the Company nor any of its
    Subsidiaries is an &#147;investment company&#148;, as defined
    in, or subject to regulation under, the Investment Company Act
    of 1940, as amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (x)&#160;<I>Export and Sanctions Laws.</I>&#160;&#160;The
    Company and each of its Subsidiaries has been in material
    compliance with all applicable Export and Sanctions Laws. To the
    Knowledge of the Company, neither the Company nor any of its
    Subsidiaries nor any Person controlling the Company is
    designated on any Denied Party Lists or has engaged in any
    transaction with or for the benefit of any Person that is
    designated on any Denied Party Lists or that is subject to any
    Law prohibitions including Laws relating to any export sanction
    or export restriction.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (y)&#160;<I>Proxy Statement and Other
    Filings.</I>&#160;&#160;None of the information to be supplied
    by the Company for inclusion in (i)&#160;the Proxy Statement to
    be filed by the Company with the SEC, and any amendments or
    supplements thereto, or (ii)&#160;the Registration Statement to
    be filed by Partners with the SEC in connection with the Merger,
    and any amendments or supplements thereto, will, at the
    respective times such documents are filed, and, in the case of
    the Proxy Statement, at the time the Proxy Statement or any
    amendment or supplement thereto is first mailed to Stockholders,
    at the time of the Meeting and at the Effective Time, and, in
    the case of the Registration Statement, when it becomes
    effective under the Securities Act, contain any untrue statement
    of a material fact or omit to state any material fact required
    to be made therein or necessary in order to make the statements
    made therein, in light of the circumstances under which they
    were made, not misleading.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>5.2&#160;&#160;<I>Representations
    and Warranties of the Partners Entities.</I>&#160;&#160;Except
    as disclosed in a section of the Partners disclosure schedule
    delivered to the Company concurrently herewith (the
    <B><I>&#147;Partners Disclosure Schedule&#148;</I></B>)
    corresponding to the subsection of this <U>Section&#160;5.2</U>
    to which such disclosure applies (provided that the disclosure
    in any paragraph of the Partners Disclosure Schedule shall
    qualify other paragraphs in this <U>Section&#160;5.2</U>,
    information called for by other sections of the Partners
    Disclosure Schedule or the annexes or exhibits to this Agreement
    to the extent it is reasonably apparent from a reading of such
    disclosure that it also qualifies or applies to such other
    paragraphs, information, annexes or exhibits), or as disclosed
    in the Partners SEC Documents filed prior to the date hereof to
    the extent such disclosure on its face appears to constitute
    information that would reasonably be deemed a qualification or
    exception to the following representations and warranties, each
    of the Partners Entities represents and warrants to the Company,
    jointly and severally, as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>Organization</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Partners GP is a limited liability company duly formed,
    validly existing and in good standing under the Laws of the
    Republic of the Marshall Islands. Partners is a limited
    partnership duly formed, validly existing and in good standing
    under the Laws of the Republic of the Marshall Islands. MergerCo
    is a corporation duly organized, validly existing and in good
    standing under the laws of the Republic of the Marshall Islands.
    Each of the Partners Entities has the requisite limited
    liability company, limited partnership and corporate,
    respectively, power and authority to own, lease or otherwise
    hold, use and operate all of its properties and assets and to
    carry on its business as it is now being conducted, and is duly
    licensed or qualified to do business in each jurisdiction in
    which the nature of the business conducted by it or the
    character or location of the properties and assets owned or
    leased by it makes such licensing or qualification necessary,
    except where the failure to have such power or authority or to
    be so licensed or qualified would not constitute a Material
    Adverse Effect on the Partners Entities. True and complete
    copies of the Partners GP Certificate of Formation and Partners
    GP LLC Agreement, as in effect as of the date of this Agreement,
    have previously been made available to the Company by Partners
    GP. True and complete copies of Partners Certificate of Limited
    Partnership and Partners Partnership Agreement, as in effect as
    of the date of this Agreement, have previously been made
    available to the Company by Partners. True and complete copies
    of MergerCo Articles of Incorporation and MergerCo Bylaws, as in
    effect as of the date of this Agreement, have previously been
    made available to the Company by MergerCo.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Except as contemplated by this Agreement, MergerCo
    does not hold and has not held any material assets or incurred
    any material liabilities, and has not carried on any business
    activities other than in connection with the Merger and the
    other transactions contemplated by this Agreement. The
    authorized capital stock of MergerCo consists of 500&#160;shares
    of MergerCo Common Stock, all of which have been duly issued,
    are fully paid and nonassessable and are owned directly by
    Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;Each Subsidiary of Partners (1)&#160;is duly formed
    or organized and validly existing under the Laws of its
    jurisdiction of formation or organization, (2)&#160;is duly
    qualified to do business and in good standing in all
    jurisdictions (whether federal, state, local or foreign) where
    its ownership, leasing or otherwise holding, using and operating
    of property or assets or the conduct of its business requires it
    to be so qualified and (3)&#160;has all requisite corporate,
    partnership or limited liability company power and authority
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to own or lease its properties and assets and to carry on its
    business as now conducted except in each case where the failure
    to have such power or authority or to be so formed or organized
    in existence or qualified, either individually or in the
    aggregate, would not constitute a Material Adverse Effect on the
    Partners Entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;<U>Section&#160;5.2(a)(iv)</U> of the Partners
    Disclosure Schedule sets forth, as of the date of this
    Agreement, a true and complete list of each of the Partners
    Entities&#146; respective Subsidiaries and Partially Owned
    Entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Capitalization.</I>&#160;&#160;Except as set forth
    in <U>Section&#160;5.2(b)</U> of the Partners Disclosure
    Schedule:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Partners GP is the sole general partner of Partners.
    Partners GP is the beneficial owner and sole record owner of the
    general partner interest in Partners, represented as of the date
    of this Agreement by 774,411 General Partner Units, and such
    General Partner Units have been duly authorized and validly
    issued in accordance with applicable Laws and the Partners
    Partnership Agreement. Partners GP owns such General Partner
    Units free and clear of any Liens except pursuant to the
    Partners Partnership Agreement. Partners GP is the beneficial
    owner and sole record holder of all of the Partners Incentive
    Distribution Rights and owns such rights free and clear of all
    Liens except pursuant to the Partners Partnership Agreement.
    Partners GP has no Voting Debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;As of the date of this Agreement Partners has no
    equity interests issued and outstanding other than
    (1)&#160;37,946,183 Partners Common Units (of which 799,200 are
    restricted Partners Common Units), and (2)&#160;the general
    partner interest represented by 774,411 General Partner Units,
    and Partners Incentive Distribution Rights described in
    <U>Section 5.2(b)(i)</U> above. As of the date of this
    Agreement, except as set forth in the preceding sentence, the
    Partners Partnership Agreement, there are no outstanding
    (x)&#160;options, warrants, preemptive rights, subscriptions,
    calls or other Rights, convertible securities, exchangeable
    securities, agreements or commitments of any character
    obligating Partners or any of its Subsidiaries to issue,
    transfer or sell any partnership interest or other equity
    interest in Partners or any Subsidiary of Partners or securities
    convertible into or exchangeable for such equity interests or
    (y)&#160;contractual obligations of Partners or any of its
    Subsidiaries to repurchase, redeem or otherwise acquire any
    partnership interest or other equity interest in Partners or any
    of its Subsidiaries or any such securities or agreements listed
    in clause&#160;(x) of this sentence. Partners has no Voting
    Debt. There are no obligations in excess of $100,000 of the
    Partners Entities or any of its Subsidiaries, in the aggregate,
    to make any investment (in the form of a loan, capital
    contribution or otherwise) in any Person, or pursuant to which
    Partners or any Subsidiary is or could be required to register
    any units, shares or any equity interests of Partners or its
    Subsidiaries or other securities under the Securities Act.
    Neither Partners nor any of its Subsidiaries owns, or has any
    contractual or other obligation to acquire, any equity
    securities or other securities of any Person (other than in
    Partners or its Subsidiaries) or any direct or indirect equity
    or ownership interest in any other business. Except for this
    Agreement and the Support Agreement, there are no voting trusts,
    proxies or other agreements, commitments or understandings of
    any character to which either Partners or its Subsidiaries is a
    party or by which any of them is bound with respect to the
    holding, voting or disposition of any units, shares or any
    equity interests of Partners or its Subsidiaries, except
    pursuant to the applicable governing documents of Partners or
    its Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;The Partners Common Units and the limited partner
    interests represented thereby have been duly authorized and
    validly issued in accordance with applicable Laws and the
    Partners Certificate of Limited Partnership and Partners
    Partnership Agreement, and are fully paid (to the extent
    required under the Partners Partnership Agreement) and
    non-assessable (except to the extent such non-assessability may
    be affected by the MILPA). Such Partners limited partner
    interests were not issued in violation of pre-emptive or similar
    rights or any other agreement or understanding binding on
    Partners. All of the outstanding equity interests of the
    Subsidiaries of Partners and Partially Owned Entities of
    Partners have been duly authorized and are validly issued, fully
    paid (to the extent required under the applicable governing
    documents) and non-assessable and free of pre-emptive rights
    (except (1)&#160;with respect to general partner interests,
    (2)&#160;as set forth to the contrary in
</DIV>
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the applicable governing documents and (3)&#160;to the extent
    such non-assessability may be affected by applicable Laws,
    including the MILPA) and were not issued in violation of
    pre-emptive or similar rights; and all such units, shares and
    other equity interests, other than interests in the Partially
    Owned Entities of Partners that are owned by others, are owned,
    directly or indirectly, by Partners, free and clear of all
    Liens, except pursuant to the applicable governing documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;No Subsidiary or any Partially Owned Entity of
    Partners has any Voting Debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>Authority; No Violation.</I>&#160;&#160;Except as
    set forth in <U>Section&#160;5.2(c)</U> of the Partners
    Disclosure Schedule:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Each Partners Entity has the requisite limited
    partnership, limited liability company or corporate power and
    authority to execute and deliver this Agreement and to
    consummate the transactions contemplated hereby. The execution
    and delivery of this Agreement and the consummation of the
    transactions contemplated hereby have been duly and validly
    approved by the Partners Board (upon recommendation by the
    Partners Conflicts Committee), at a duly convened meeting
    thereof and by Partners GP, for itself and as general partner of
    Partners, and by Partners as sole stockholder of MergerCo.
    Except for approvals that have been previously obtained, no
    other corporate, limited liability company or limited
    partnership votes or approvals on the part of the Partners
    Entities are necessary to approve this Agreement and to
    consummate the transactions contemplated hereby. This Agreement
    has been duly and validly executed and delivered by each of the
    Partners Entities and (assuming due authorization, execution and
    delivery by the Company) constitutes a valid and binding
    obligation of each of the Partners Entities, enforceable against
    each of the Partners Entities in accordance with its terms
    (except insofar as such enforceability may be limited by
    bankruptcy, insolvency, fraudulent transfer, reorganization,
    moratorium and similar Laws relating to or affecting
    creditors&#146; rights generally and by general principles of
    equity (regardless of whether such enforceability is considered
    in a proceeding in equity or at law)).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Neither the execution and delivery of this Agreement
    by the Partners Entities, nor the consummation by the Partners
    Entities of the transactions contemplated hereby, nor compliance
    by the Partners Entities with any of the terms or provisions
    hereof, will (1)&#160;violate any provision of the Partners GP
    Certificate of Formation, Partners GP LLC Agreement, Partners
    Certificate of Limited Partnership or Partners Partnership
    Agreement or the organizational documents of their respective
    Subsidiaries or (2)&#160;assuming that the consents and
    approvals referred to in <U>Section&#160;5.2(d)</U> are duly
    obtained, (x)&#160;violate any Law applicable to the Partners
    Entities, any of their respective Subsidiaries or, to the
    Partners Entities&#146; Knowledge, any Partially Owned Entities
    of Partners or any of their respective properties or assets or
    (y)&#160;violate, conflict with, result in a breach of any
    provision of or the loss of any benefit under, constitute a
    default (or an event which, with notice or lapse of time, or
    both, would constitute a default) under, result in the
    termination of or a right of termination or cancellation under,
    accelerate the performance required by, accelerate any right or
    benefit provided by, or result in the creation of any Lien upon
    any of the respective properties or assets of any Partners
    Entity, any of their respective Subsidiaries or, to the Partners
    Entities&#146; Knowledge, any Partially Owned Entity of Partners
    under any of the terms, conditions or provisions of any note,
    bond, mortgage, indenture, deed of trust, license, lease,
    agreement or other instrument or obligation to which any
    Partners Entity, any Subsidiary of Partners or, to the Partners
    Entities&#146; Knowledge, any Partially Owned Entity of Partners
    is a party, or by which they or any of their respective
    properties or assets are bound, except in each case for such
    violations, conflicts, breaches, losses, defaults, terminations,
    cancellations, accelerations or Liens which would not constitute
    a Material Adverse Effect on the Partners Entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>Consents and Approvals.</I>&#160;&#160;Except for
    (i)&#160;the Other Approvals as set forth on
    <U>Section&#160;5.2(d)</U> of the Partners Disclosure Schedule,
    (ii)&#160;the filing of the Proxy Statement and the Registration
    Statement, (iii)&#160;the filing of the Articles of Merger with
    the Registrar or Deputy Registrar of Corporations of the
    Republic of the Marshall Islands, (iv)&#160;any consents,
    authorizations, approvals, filings or exemptions in connection
    with compliance with the rules of the NASDAQ or the NYSE, as
    applicable, (v)&#160;such filings
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and approvals as may be required to be made or obtained under
    the securities or &#147;Blue Sky&#148; laws of various states in
    connection with the issuance of the New Partners Common Units
    pursuant to this Agreement (the consents, authorizations,
    approvals, filings and registration required under or in
    relation to the foregoing clauses&#160;(i) through
    (v)&#160;being referred to as <B><I>&#147;Partners Necessary
    Consents&#148;</I></B>), (vi)&#160;any consents or waivers
    required to be obtained under the Partners Credit Facilities and
    (vii)&#160;such other consents, authorizations, approvals,
    filings and registrations, the failure of which to obtain or
    make would not constitute a Material Adverse Effect on the
    Partners Entities, no consents or approvals of or filings or
    registrations with any Governmental Authority are necessary in
    connection with (1)&#160;the execution and delivery by the
    Partners Entities of this Agreement or (2)&#160;the consummation
    by the Partners Entities of the transactions contemplated by
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Financial Reports and SEC Documents; Disclosure and
    Internal Controls</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;The Partners 2010 20-F and all other reports,
    registration statements, definitive proxy statements or
    information statements filed or furnished by Partners or any of
    its Subsidiaries subsequent to March&#160;19, 2007, including,
    but not limited to, items incorporated by reference into or
    referred to in such reports, registration statements, proxy
    statements or information statements under the Securities Act or
    under the Exchange Act, in the form filed or furnished
    (collectively, the <B><I>&#147;Partners SEC
    Documents&#148;</I></B>), with the SEC as of their respective
    dates, (1)&#160;complied in all material respects as to form
    with the applicable requirements under the Securities Act, the
    Exchange Act or SOX, as the case may be, and (2)&#160;did not
    contain any untrue statement of a material fact or omit to state
    a material fact required to be stated therein or necessary to
    make the statements made therein, in light of the circumstances
    under which they were made, not misleading. The
    (i)&#160;historical financial statements (including the related
    notes and supporting schedules) contained in the Partners SEC
    Documents and (ii)&#160;the unaudited consolidated balance sheet
    of Partners as of March&#160;31, 2011 and the related unaudited
    consolidated statements of income, partners&#146;
    capital/stockholders&#146; equity and cash flows for the
    three-month period ended March&#160;31, 2011 set forth on
    <U>Section&#160;5.2(e)</U> of the Partners Disclosure Schedule
    (A)&#160;comply in all material respects with the applicable
    requirements under the Securities Act and the Exchange Act (in
    the case of clause (i)), (B)&#160;present fairly in all material
    respects the financial position, results of operations and cash
    flows of the entities purported to be shown thereby on the basis
    stated therein at the respective dates or for the respective
    periods (subject, in the case of unaudited financial statements,
    to normal year-end adjustments and the absence of footnotes),
    and (C)&#160;have been prepared in accordance with GAAP
    consistently applied throughout the periods involved, except in
    each case to the extent disclosed therein. There are no
    outstanding comments from, or unresolved issues raised by, the
    SEC with respect to the Partners SEC Documents. No enforcement
    action has been initiated, or to the Knowledge of the Partners
    Entities, is threatened, against any of the Partners Entities
    relating to disclosures contained in any Partners SEC Document.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Partners and Partners GP have designed and maintain a
    system of internal accounting controls sufficient to provide
    reasonable assurances regarding the reliability of financial
    reporting and the preparation of financial statements for
    external purposes in accordance with GAAP. Partners and Partners
    GP have (1)&#160;designed disclosure controls and procedures
    (within the meaning of
    <FONT style="white-space: nowrap">Rules&#160;13a-15(e)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(e)</FONT> of
    the Exchange Act) to ensure that material information relating
    to the Partners and its Subsidiaries is made known to the
    management of Partners GP by others within those entities as
    appropriate to allow timely decisions regarding required
    disclosure and to make the certifications required by the
    Exchange Act with respect to the Partners SEC Documents and
    (2)&#160;disclosed, based on its most recent evaluation prior to
    the date of this Agreement, to Partners&#146; outside auditors
    and the audit committee of the Partners Board (i)&#160;any
    significant deficiencies and material weaknesses in the design
    or operation of internal controls over financial reporting
    (within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;13a-l</FONT>
    5(f) of the Exchange Act) which are reasonably likely to
    adversely affect Partners ability to record, process, summarize
    and report financial information and (ii)&#160;any fraud,
    whether or not material, that involves management or other
    employees who have a significant role in Partners&#146; internal
    controls over financial reporting.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;Deloitte, Hadjipavlou, Sofianos&#160;&#038; Cambanis,
    S.A., who audited the audited financial statements contained in
    the Partners 2010 20-F, is an independent registered public
    accounting firm with respect to Partners within the meaning of
    the Securities Act and the applicable rules and regulations
    thereunder adopted by the SEC and the Public Company Accounting
    Oversight Board (United States).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;Partners has made available (to the extent not
    available to the public on the SEC&#146;s EDGAR website) to the
    Company each Partners SEC Document, each in the form (including
    exhibits and any amendments thereto) filed with or furnished to
    the SEC prior to the date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>Foreign Private Issuer.</I>&#160;&#160;Partners is a
    &#147;foreign private issuer&#148; (as defined in Rule&#160;405
    under the Securities Act).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>Relations with Governments.</I>&#160;&#160;To the
    Knowledge of Partners, except as would not constitute a Material
    Adverse Effect on the Partners Entities, none of the Partners
    Entities nor any of their respective Subsidiaries, nor any
    director, officer, agent or employee of the Partners Entities or
    any of their respective Subsidiaries, has (i)&#160;used any
    funds for unlawful contributions, gifts, entertainment or other
    unlawful expenses related to political activity, (ii)&#160;made
    any unlawful payment or offered anything of value to foreign or
    domestic government officials or employees or to foreign or
    domestic political parties or campaigns, (iii)&#160;made any
    other unlawful payment, or (iv)&#160;violated any applicable
    export control, money laundering or anti-terrorism Law or
    regulation, nor have any of them otherwise taken any action
    which would cause the Company or any of its Subsidiaries to be
    in violation of the Foreign Corrupt Practices Act of 1977, as
    amended, or any applicable Law of similar effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>Absence of Undisclosed
    Liabilities.</I>&#160;&#160;Except as disclosed in the audited
    financial statements (or notes thereto) included in the Partners
    2010 20-F or in the financial statements (or notes thereto)
    included in subsequent Partners SEC Documents filed prior to the
    date hereof, none of the Partners Entities nor any of their
    respective Subsidiaries had at December&#160;31, 2010, or has
    incurred since that date, any liabilities or obligations
    (whether absolute, accrued, contingent or otherwise and whether
    due or to become due) of any nature, except liabilities,
    obligations or contingencies that (i)&#160;are accrued or
    reserved against in the financial statements of Partners
    included in the Partners SEC Documents filed prior to the date
    hereof, or reflected in the notes thereto, (ii)&#160;were
    incurred since December&#160;31, 2010 in the ordinary course of
    business and consistent with past practices, (iii)&#160;would
    not constitute a Material Adverse Effect on the Partners
    Entities, (iv)&#160;have been discharged or paid in full prior
    to the date hereof or (v)&#160;arise under this Agreement and
    the transactions contemplated by this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>Absence of Certain Changes or
    Events.</I>&#160;&#160;Since December&#160;31, 2010, no event or
    events have occurred that would constitute a Material Adverse
    Effect on the Partners Entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;<I>Legal Proceedings.</I>&#160;&#160;Except as set
    forth in <U>Section&#160;5.2(j)</U> of the Partners Disclosure
    Schedule, there is no suit, action or proceeding or
    investigation pending before any Governmental Authority or, to
    the Knowledge of the Partners Entities, threatened, against or
    affecting the Partners Entities or any of their respective
    Subsidiaries that would constitute a Material Adverse Effect on
    the Partners Entities, nor is there any judgment, decree,
    injunction, rule or order of any Governmental Authority
    outstanding against the Partners Entities or any of their
    respective Subsidiaries that would constitute any such effect.
    There is no order or settlement agreement imposed on any of the
    Partners Entities or any of their respective Subsidiaries (or
    that, upon consummation of the transactions contemplated hereby)
    that would constitute a Material Adverse Effect on the
    operations and business of any of the Partners Entities or any
    of their respective Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;<I>Compliance with Applicable Law.</I>&#160;&#160;The
    Partners Entities and each of their respective Subsidiaries hold
    all licenses, franchises, permits and authorizations necessary
    for the lawful conduct of their respective businesses under and
    pursuant to each, and have complied in all respects with, and
    are not in default under any, applicable Law relating to the
    Partners Entities or any of their respective Subsidiaries,
    except where the failure to hold such license, franchise, permit
    or authorization or such noncompliance or default would not
    constitute a Material Adverse Effect on the Partners Entities.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;<I>Contracts</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Except for this Agreement or as designated as an
    exhibit to the Partners 20-F or to a Partners SEC Document filed
    thereafter and prior to the date of this Agreement, and except
    as set forth in <U>Section&#160;5.2(l)(i)</U> of the Partners
    Disclosure Schedule, neither the Partners Entities nor any of
    their respective Subsidiaries is a party to or bound by, as of
    the date hereof, any agreement, contract, arrangement,
    commitment or instrument (whether written or oral)
    (1)&#160;which is a &#147;material contract&#148; (as such term
    is used in Item&#160;601(b)(10) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    of the SEC) with respect to Partners and its Subsidiaries
    required to be filed with the SEC that has not been filed,
    (2)&#160;which, upon the consummation of the Merger, will
    (either alone or upon the occurrence of any additional acts or
    events) result in any payment (whether of severance pay or
    otherwise) becoming due from the Partners Entities or any of
    their respective Subsidiaries to any director, officer,
    employee, consultant or contractor who performs services for the
    benefit of the Partners Entities or any of their respective
    Subsidiaries, (3)&#160;which is a &#147;material contract&#148;
    (as such term is defined in Item 601(b)(10) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K),</FONT>
    or an amendment to or termination thereof, that would be
    required to be disclosed on a Current Report on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC (if the Partners were required to file such
    reports), to be performed after the date of this Agreement that
    has not been filed or incorporated by reference in the Partners
    SEC Documents filed prior to the date of this Agreement or
    (4)&#160;which are material and containing change of control
    provisions triggered by the consummation of the transactions
    contemplated by this Agreement. Each agreement, contract,
    arrangement, commitment or instrument of the type described in
    this <U>Section&#160;5.1(l)</U>, whether or not set forth in the
    Company Disclosure Schedule or in such Company SEC Documents, is
    referred to herein as a <B><I>&#147;Partners
    Contract</I></B>.&#148; No Partners Contract has been amended or
    modified, except for such amendments or modifications which have
    been filed as an exhibit to a subsequently dated and filed
    Partners SEC Document or are not required to be filed with the
    SEC and set forth in <U>Section&#160;5.2(l)(i)</U> of the
    Partners Disclosure Schedule.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;All of the Partners Contracts are valid and in full
    force and effect and enforceable in accordance with their terms,
    except insofar as such enforceability may be limited by
    bankruptcy, insolvency, fraudulent transfer, reorganization,
    moratorium and similar Laws relating to or affecting
    creditors&#146; rights generally and by general principles of
    equity (regardless of whether such enforceability is considered
    in a proceeding in equity or at law), except (i)&#160;to the
    extent that they have previously expired in accordance with
    their terms or (ii)&#160;for any failures to be in full force
    and effect that would not constitute a Material Adverse Effect
    on the Partners Entities. None of the Partners Entities nor any
    of their respective Subsidiaries, nor, to the Knowledge of
    Partner, any counterparty to any of the Partners Contracts, has
    violated any provision of, or committed or failed to perform any
    act which, with or without notice, lapse of time or both, would
    constitute a default under the provisions of any of the Partners
    Contracts, except in each case for those violations and defaults
    which would not constitute a Material Adverse Effect on the
    Partners Entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (m)&#160;<I>Insurance.</I>&#160;&#160;All material Policies of
    the Partners Entities and their respective Subsidiaries are in
    full force and effect and provide insurance in such amounts and
    against such risks as is sufficient to comply with applicable
    Law and as is customary for the industries in which the Partners
    Entities and their respective Subsidiaries operate, in each
    case, except as, individually or in the aggregate, would not
    constitute a Material Adverse Effect on the Company. None of the
    Partners Entities nor their respective Subsidiaries are in
    breach or default under, and none of the Partners Entities nor
    their respective Subsidiaries have taken any action or failed to
    take any action which, with notice or the lapse of time, would
    constitute such a breach or default, or permit termination or
    modification of, any Policies, in each case, except as would not
    constitute a Material Adverse Effect on the Partners Entities.
    To the Knowledge of Partners, there is no threatened termination
    of, or material premium increase with respect to, any current
    Policy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (n)&#160;<I>Environmental Matters.</I>&#160;&#160;Except as set
    forth in <U>Section&#160;5.2(n)</U> of the Partners Disclosure
    Schedule, and except as would not constitute a Material Adverse
    Effect on the Partners Entities: (1)&#160;the Partners Entities
    or any of their respective Subsidiaries, Partially Owned
    Entities of Partners, and their respective businesses,
    operations, properties and Assets are and have been in
    compliance with all
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Environmental Laws and all Environmental Permits; (2)&#160;the
    Partners Entities and their respective Subsidiaries and
    Partially Owned Entities of Partners, have obtained or filed for
    all Environmental Permits for their respective businesses,
    operations, properties and Assets as they currently exist and
    are operated and all such Environmental Permits are currently in
    full force and effect; (3)&#160;neither the Partners Entities
    nor any of their respective Subsidiaries nor any of their
    respective businesses, operations, properties or Assets, or, to
    the Knowledge of the Partners Entities, Partially Owned Entities
    of Partners, or their respective businesses, operations,
    properties and Assets are subject to any pending or, to the
    Knowledge of the Partners Entities, threatened claims, actions,
    suits, writs, injunctions, decrees, orders, judgments,
    investigations, inquiries or proceedings relating to their
    compliance with Environmental Laws; (4)&#160;within the six
    years prior to the date of this Agreement, there has been no
    Release of Hazardous Substances on, under or from the current or
    former property owned, leased or operated by the Partners
    Entities or any of their respective Subsidiaries or Partially
    Owned Entities of Partners and none of the Partners Entities or
    any of their respective Subsidiaries or Partially Owned Entities
    of Partners has treated, recycled, stored, disposed of, arranged
    for or permitted the disposal of, transported, handled, Released
    any substance, including any Hazardous Substances, or owned or
    operated any property or facility in a manner that has given or
    would give rise to any damages, including any damages for
    response costs, corrective action costs, personal injury,
    property damage or natural resource damages, pursuant to any
    Environmental Laws; (5)&#160;none of the Partners Entities or
    any of their respective Subsidiaries or Partially Owned Entities
    of Partners has received any notice regarding any actual or
    alleged violation of any Environmental Laws or any liabilities,
    including any investigatory, remedial or corrective liabilities,
    relating to the Partners Entities or any of their respective
    Subsidiaries or Partially Owned Entities of Partners arising
    under Environmental Laws; (6)&#160;none of the Partners Entities
    or any of their respective Subsidiaries or Partially Owned
    Entities of Partners has, either expressly or by operation of
    Law, assumed or undertaken any liability, including any
    obligation for the corrective or remedial action, of any other
    Person relating to Environmental Laws; and (7)&#160;there are
    not any existing, or to the Knowledge of the Partners Entities,
    pending or threatened actions, suits, claims, investigations,
    inquiries or proceedings by or before any court or any other
    Governmental Authority directed against the Partners Entities,
    its Subsidiaries or Partially Owned Entities of Partners that
    pertain or relate to the actual or alleged violation of
    Environmental Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (o)&#160;<I>Employee Benefit Plans; Distribution Reinvestment
    Plan.</I>&#160;&#160;None of the Partners Entities nor any of
    their respective Subsidiaries has any employees or sponsors,
    maintains, participates in or contributes to or has any
    Compensation and Benefit Plans other than reimbursements
    pursuant to the Partners Management Agreement, Partners
    Administrative Services Agreement and the Partners Incentive
    Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (p)&#160;<I>Vessels; Property</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<U>Section&#160;5.2(p)(i)</U> of the Partners
    Disclosure Schedule sets forth the name, owner, flag state of
    registration (including any bareboat registration), charterer,
    International Maritime Organization number and call sign,
    classification society, year of construction and capacity (gross
    tonnage or deadweight tonnage, as specified therein) for all of
    the vessels currently owned (either legally or beneficially
    under a financial lease and guaranty trust agreement) by
    Partners and its Subsidiaries (the <B><I>&#147;Partners
    Vessels&#148;</I></B>). Each Partners Vessel is owned directly
    by the applicable Subsidiary of Partners as set forth on
    <U>Section&#160;5.2(p)(i)</U> of the Partners Disclosure
    Schedule and such Subsidiary of Partners has good and marketable
    title to the applicable Partners Vessel owned by it, free and
    clear of all Liens. Except as would not constitute a Material
    Adverse Effect on the Partners Entities, each Partners Vessel
    listed on <U>Section&#160;5.2(p)(i)</U> of the Partners
    Disclosure Schedule is duly registered in the name of the
    Subsidiary that owns it under the Laws and the flag of such
    Partners Vessel&#146;s flag state (as set forth on <U>Section
    5.2(p)(i)</U> of the Partners Disclosure Schedule) and no other
    action is necessary to establish and perfect such
    Subsidiary&#146;s title to and interest in the applicable
    Partners Vessel as against any charterer or third party. None of
    the Partners Entities and their respective Subsidiaries owns,
    operate, use or charter any vessels other than those set forth
    on <U>Section&#160;5.2(p)(i)</U> of the Partners Disclosure
    Schedule.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;Except as set forth in <U>Section&#160;5.2(p)(ii)</U>
    of the Partners Disclosure Schedule (x)&#160;each Partners
    Vessel is (1)&#160;certified by a member of the International
    Association of Classification Societies and
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;materially in class with valid classification
    certificates and national certificates, as well as all other
    valid certificates such Partners Vessel had as of the date of
    this Agreement and (y)&#160;to the Knowledge of Partners,
    (1)&#160;no event has occurred and no condition exists that
    would cause such Partners Vessel&#146;s class to be suspended or
    withdrawn and (2)&#160;each Partners Vessel is free of average
    damage affecting its class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (q)&#160;<I>Takeover Laws.</I>&#160;&#160;No Takeover Laws or
    anti-takeover provision in the Partners Certificate of Limited
    Partnership, the Partners Partnership Agreement or the Partners
    GP LLC Agreement will apply to this Agreement or the
    transactions contemplated hereby, or would prohibit or restrict
    the ability of the Partners Entities to perform their respective
    obligations under this Agreement or its ability to consummate
    the transactions contemplated hereby, including the Merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (r)&#160;<I>Opinion of Financial Advisor.</I>&#160;&#160;The
    Partners Conflicts Committee has received the opinion of
    Evercore Group L.L.C. (<B><I>&#147;Evercore&#148;</I></B>),
    dated the date of this Agreement, to the effect that, as of the
    date of such opinion, the Exchange Ratio is fair to the Partners
    Unaffiliated Unitholders from a financial point of view.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (s)&#160;<I>Approval of the Partners Conflicts Committee and the
    Partners Board.</I>&#160;&#160;At a meeting duly called and
    held, the Partners Conflicts Committee determined, by unanimous
    vote, that this Agreement and the transactions contemplated
    hereby, are fair and reasonable to and in the best interests of
    Partners and the Partners Unaffiliated Unitholders and approved
    this Agreement and the transactions contemplated hereby by
    Special Approval (as defined in the Partners Partnership
    Agreement). At a meeting duly called and held, the Partners
    Board determined, by unanimous vote, that this Agreement and the
    transactions contemplated hereby, are fair and reasonable to and
    in the best interests of Partners and the Partners unitholders
    and approved this Agreement and the transactions contemplated
    hereby.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (t)&#160;<I>Broker&#146;s Fees.</I>&#160;&#160;None of the
    Partners Entities nor any of their respective Subsidiaries nor
    any of their respective officers or directors has employed any
    broker or finder or incurred any liability for any broker&#146;s
    fees, commissions or finder&#146;s fees in connection with the
    transactions contemplated by this Agreement, other than
    Evercore, whose fees and expenses will be paid by Partners in
    accordance with the existing agreement with such firm.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (u)&#160;<I>Certain Tax Matters</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;All Tax Returns required to be filed by or on behalf of
    the Partners Entities and their respective Subsidiaries by the
    Code or by applicable state, local or foreign Tax Laws with any
    Tax authority prior to the date hereof have been timely filed.
    All Tax Returns filed by the Partners Entities and their
    respective Subsidiaries are true, correct and complete in all
    material respects. All material Taxes due and payable of the
    Partners Entities and their respective Subsidiaries (whether or
    not reflected on any such Returns) have been timely paid in full.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;None of the Partners Entities or their respective
    Subsidiaries have any liability for any unpaid Taxes which have
    not been accrued for or reserved on Partners&#146; balance
    sheets included in the latest Partners SEC Document filed prior
    to the date hereof (without taking into account any reserve for
    deferred taxes), which is material to the Partners Entities and
    their respective Subsidiaries, other than any liability for
    unpaid Taxes that may accrue on the Closing Date or may have
    accrued since the end of the most recent fiscal year in
    connection with the operation of the business of Partners in the
    ordinary course, none of which is material to the business,
    results of operations or financial condition of the Partners
    Entities or their respective Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;There are no liens for Taxes with respect to any of
    the assets or properties of the Partners Entities or their
    respective Subsidiaries, other than with respect to Taxes not
    yet due and payable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;All material Taxes that the Partners Entities or their
    respective Subsidiaries are required by Law to withhold or
    collect have been duly withheld or collected, and have been
    timely paid over to the proper governmental authorities or
    deposited in accordance with applicable Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;Neither the Partners Entities nor their respective
    Subsidiaries have been delinquent in the payment of any material
    Tax nor is there any material Tax deficiency outstanding,
    proposed or assessed
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in writing against the Partners Entities or their respective
    Subsidiaries, as applicable, nor has the Partners Entities or
    their respective Subsidiaries executed, or been requested to
    execute, any unexpired waiver of any statute of limitations on
    or extending the period for the assessment or collection of any
    material Tax. Neither the Partners Entities nor their respective
    Subsidiaries have requested any extension of time within which
    to file any Tax Return, which return has not yet been filed. No
    power of attorney with respect to any material Taxes has been
    executed or filed with any Tax authority by or on behalf of the
    Partners Entities or their respective Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vi)&#160;No audit or other examination of any Tax Return of the
    Partners Entities or their respective Subsidiaries by any Tax
    authority is in progress, nor has the Partners Entities nor
    their respective Subsidiaries been notified in writing of any
    request for such an audit or other examination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vii)&#160;Neither the Partners Entities nor their respective
    Subsidiaries (x)&#160;is a party to or is bound by any Tax
    sharing agreement, Tax indemnity obligation or similar
    agreement, arrangement or practice with respect to Taxes
    (including, without limitation, any advance pricing agreement,
    closing agreement or other agreement relating to Taxes with any
    Tax authority); (y)&#160;is or has ever been a member of an
    affiliated group (other than a group the common parent of which
    is Partners GP) filing a consolidated federal income tax return;
    or (z)&#160;has any liability for Taxes of any Person arising
    from the application of Treasury
    <FONT style="white-space: nowrap">Regulation&#160;1.1502-6</FONT>
    or any analogous provision of state, local or foreign law, or as
    a transferee or successor, or by contract.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (viii)&#160;Neither the Partners Entities nor their respective
    Subsidiaries will be required to include in a taxable period
    ending after the Closing Date any taxable income attributable to
    income that accrued, but was not recognized, in any Pre-Closing
    Tax Period, as a result of an adjustment under Section&#160;481
    of the Code, the installment method of accounting, the long-term
    contract method of accounting, the cash method of accounting,
    any comparable provision of state, local, or foreign Tax law, or
    for any other reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ix)&#160;Partners GP has made available for inspection to the
    Company complete and correct copies of all material Tax Returns
    of the Partners Entities and the Partners Subsidiaries for all
    taxable periods for which the applicable statute of limitations
    has not yet expired.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (x)&#160;<U>Section&#160;5.2(u)(x)</U> of the Partners
    Disclosure Schedule sets forth (i)&#160;each jurisdiction in
    which the Partners Entities or any Subsidiary thereof joins, has
    joined or is or has been required to join for any taxable period
    ending after 2008 in the filing of any consolidated, combined or
    unitary Tax Return, and (ii)&#160;the common parent entity and
    the other individual members of the consolidated, combined or
    unitary group filing such Tax Return.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xi)&#160;<U>Section&#160;5.2(u)(xi)</U> of the Partners
    Disclosure Schedule sets forth each state or foreign
    jurisdiction in which the Partners Entities or their respective
    Subsidiaries file, or is or has been required to file, a Tax
    Return relating to material state income, franchise, license,
    excise, net worth, property or sales and use taxes or is or has
    been liable for any material Taxes on a &#147;nexus&#148; basis
    at any time for a taxable period for which the relevant statutes
    of limitation have not expired.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xii)&#160;Partners has a valid election in effect under
    Treasury Regulations Section 301.7701-3 to be classified as an
    association taxable as a corporation for United States federal
    income tax purposes, and Partners has not revoked or modified
    such election or made any other election to be classified as
    other than an association taxable as a corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xiii)&#160;Partners is not a Passive Foreign Investment Company
    within the meaning of Section&#160;1297 of the Code, and after
    giving effect to the transactions contemplated by this Agreement
    and based on its expected method of operations, does not expect
    to become a Passive Foreign Investment Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (xiv)&#160;The Partners Entities are not aware of any fact or
    circumstance that would prevent or impede, or could reasonably
    be expected to prevent or impede, the Merger from qualifying as
    a &#147;reorganization&#148; within the meaning of
    Section&#160;368(a) of the Code.
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;<I>Collective Bargaining
    Agreements.</I>&#160;&#160;Neither the Partners Entities nor any
    of their respective Subsidiaries is a party to any collective
    bargaining or other labor union contract applicable to any
    Partners Employees, and no collective bargaining agreement or
    other labor union contract is being negotiated by the Partners
    Entities or any of their respective Subsidiaries. No labor
    organization or group of Partners Employees that are situated at
    any facility (or on any vessel) owned, leased or operated by the
    Partners Entities or any of their respective Subsidiaries has
    made a pending demand for recognition or certification, and
    there are no representation or certification proceedings or
    petitions seeking a representation proceeding presently pending
    or, to the Knowledge of the Partners Entities, threatened to be
    brought or filed, with any labor relations tribunal or
    authority. Except as would not constitute a Material Adverse
    Effect on the Partners Entities, to the Knowledge of the
    Partners Entities, (i)&#160;there is no labor dispute, strike,
    slowdown or work stoppage or any other similar dispute or
    controversy against the Partners Entities or any of their
    respective Subsidiaries pending or threatened against the
    Partners Entities or any of their respective Subsidiaries and
    (ii)&#160;no unfair labor practice or labor charge or complaint
    has occurred with respect to the Partners Entities or any of
    their respective Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (w)&#160;<I>Regulation as an Investment
    Company.</I>&#160;&#160;None of the Partners Entities nor any of
    their respective Subsidiaries is an &#147;investment
    company&#148;, as defined in, or subject to regulation under,
    the Investment Company Act of 1940, as amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (x)&#160;<I>Export and Sanctions Laws.</I>&#160;&#160;The
    Partners Entities and each of their respective Subsidiaries has
    been in material compliance with all applicable Export and
    Sanctions Laws. To the Knowledge of the Partners Entities, none
    of the Partners Entities nor any of their Subsidiaries nor any
    Person controlling any of the Partners Entities is designated on
    any Denied Party Lists or has engaged in any transaction with or
    for the benefit of any Person that is designated on any Denied
    Party Lists or that is subject to any Law prohibitions including
    Laws relating to any export sanction or export restriction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (y)&#160;<I>Proxy Statement.</I>&#160;&#160;None of the
    information to be supplied by any Partners Entity for inclusion
    in (i)&#160;the Proxy Statement to be filed by the Company with
    the SEC, and any amendments or supplements thereto, or
    (ii)&#160;the Registration Statement to be filed by Partners
    with the SEC in connection with the Merger, and any amendments
    or supplements thereto, will, at the respective times such
    documents are filed, and, in the case of the Proxy Statement, at
    the time the Proxy Statement or any amendment or supplement
    thereto is first mailed to Stockholders, at the time of the
    Meeting and at the Effective Time, and, in the case of the
    Registration Statement, when it becomes effective under the
    Securities Act, contain any untrue statement of a material fact
    or omit to state any material fact required to be made therein
    or necessary in order to make the statements made therein, in
    light of the circumstances under which they were made, not
    misleading.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VI
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    COVENANTS
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company hereby covenants to and agrees with the Partners
    Entities, and the Partners Entities hereby covenant to and
    agrees with the Company, that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.1&#160;&#160;<I>Best
    Efforts.</I>&#160;&#160;Subject to the terms and conditions of
    this Agreement, each party hereto shall use its commercially
    reasonable best efforts in good faith to take, or cause to be
    taken, all actions, and to do, or cause to be done, all things
    necessary, proper, desirable or advisable under applicable Law,
    so as to permit consummation of the Merger promptly and
    otherwise to enable consummation of the transactions
    contemplated hereby in the most expeditious manner practical,
    including, without limitation, obtaining (and assisting and
    cooperating with the other parties hereto to obtain) any third
    party approval that is required to be obtained by the Company or
    the Partners Entities or any of their respective Subsidiaries in
    connection with the Merger and the other transactions
    contemplated by this Agreement (including the Company Necessary
    Consents and Partners Necessary Consents, as applicable), and
    using commercially reasonable best efforts to lift or rescind
    any injunction or restraining order or other order adversely
    affecting the ability of the parties to consummate the
    transactions contemplated hereby, and using commercially
    reasonable best efforts to defend
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    any litigation seeking to enjoin, prevent or delay the
    consummation of the transactions contemplated hereby or seeking
    material damages, and each shall cooperate fully with the other
    parties hereto to that end, and shall furnish to the other party
    copies of all correspondence, filings and communications between
    it and its Affiliates and any Governmental Authority with
    respect to the transactions contemplated hereby. In complying
    with the foregoing, none of the parties hereto nor any of their
    respective Subsidiaries shall be required to take measures that
    would have a Material Adverse Effect on it and such Subsidiaries
    taken as a whole. The Company and the Partners Entities shall
    keep each other reasonably apprised of the status of matters
    relating to the consummation of the transactions contemplated
    hereby. Without the precise written consent of Partners, the
    Company may not adjourn or postpone the Company Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.2&#160;&#160;<I>Stockholder
    Approval.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Subject to the terms and conditions of this Agreement,
    the Company shall take, in accordance with applicable Law,
    applicable stock exchange rules and the Company Articles of
    Incorporation and the Company Bylaws all action necessary to
    call, hold and convene, respectively, a special meeting of the
    Stockholders to consider and vote upon the adoption of this
    Agreement, and any other matters required to be approved by the
    Stockholders for consummation of the Merger (including any
    adjournment or postponement, the <B><I>&#147;Company
    Meeting&#148;</I></B> or a <B><I>&#147;Meeting&#148;</I></B>),
    as promptly as practicable after the Proxy Statement is prepared
    and the Company has mailed (or otherwise made electronically
    available) the Proxy Statement to the Stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Subject to <U>Section&#160;6.7(c)</U>, the Company
    Board shall recommend adoption and approval of the Merger, this
    Agreement and the transactions contemplated hereby to the
    Stockholders (the <B><I>&#147;Company
    Recommendation&#148;</I></B>), and the Company shall take all
    reasonable lawful action to solicit and obtain the Company
    Stockholder Approval and the Company Unaffiliated Stockholder
    Approval.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Unless this Agreement is terminated pursuant to, and in
    accordance with, <U>Section&#160;8.1</U> of this Agreement, the
    obligation of the Company pursuant to <U>Section&#160;6.2(a)</U>
    to call, give notice of and hold the Company Meeting and to hold
    a vote of the Stockholders on the adoption of this Agreement and
    the approval of the Merger at the Meeting shall not be limited
    or otherwise affected by any Company Change in Recommendation or
    the commencement, disclosure, announcement or submission to the
    Company of any Acquisition Proposal (whether or not a Superior
    Proposal).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.3&#160;&#160;<I>Benefit
    Plans.</I>&#160;&#160;The Company agrees to take such actions as
    may be required under its Compensation and Benefit Plans to
    carry into effect the provisions of <U>Section&#160;3.5</U>
    hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.4&#160;&#160;<I>Registration
    Statement</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Each of the Partners Entities and the Company agrees to
    cooperate in the preparation of a registration statement on
    <FONT style="white-space: nowrap">Form&#160;F-4</FONT>
    (the <B><I>&#147;Registration Statement&#148;</I></B>)
    (including the proxy statement and prospectus and other proxy
    solicitation materials of Partners and the Company constituting
    a part thereof (the <B><I>&#147;Proxy Statement&#148;</I></B>)
    and all related documents) to be filed by Partners with the SEC
    in connection with the issuance of New Partners Common Units in
    the Merger as contemplated by this Agreement. Provided the
    Company has cooperated as required above, Partners agrees to
    file the Registration Statement with the SEC as promptly as
    practicable. Each of the Company and the Partners Entities
    agrees to use all commercially reasonable best efforts to cause
    the Registration Statement to be declared effective under the
    Securities Act as promptly as practicable after filing thereof
    and, in the case of the Registration Statement, to maintain such
    effectiveness for as long as necessary to consummate the
    transactions contemplated under this Agreement. Prior to the
    effective date of the Registration Statement, the Partners
    Entities also agree to use commercially reasonable best efforts
    to obtain all necessary state securities law or &#147;Blue
    Sky&#148; permits and approvals required to carry out the
    transactions contemplated by this Agreement, including the
    issuance of the New Partners Common Units. Each of the Partners
    Entities and the Company agrees to furnish to the other party
    all information concerning the Partners Entities and their
    respective Subsidiaries or the Company and its Subsidiaries, as
    applicable, and the officers, directors and equity holders of
    the Partners Entities and the Company and any applicable
    Affiliates, as applicable, and to take such other action as may
    be reasonably requested in connection with the foregoing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Each of the Company and the Partners Entities agrees,
    as to itself and its Subsidiaries, that (i)&#160;none of the
    information supplied or to be supplied by it for inclusion or
    incorporation by reference in the
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Registration Statement will, at the time the Registration
    Statement and each amendment or supplement thereto, if any,
    becomes effective under the Securities Act, contain any untrue
    statement of a material fact or omit to state any material fact
    required to be stated therein or necessary to make the
    statements therein, in light of the circumstances under which
    they were made, not misleading, and (ii)&#160;the Proxy
    Statement and any amendment or supplement thereto will not, at
    the date of mailing to equityholders and at the times of the
    Meeting, contain any untrue statement of a material fact or omit
    to state any material fact required to be stated therein or
    necessary to make the statements therein, in light of the
    circumstances under which they were made, not misleading. Each
    of the Company and the Partners Entities further agrees that if
    it shall become aware prior to the Closing Date of any
    information that would cause any of the statements in the
    Registration Statement to be false or misleading with respect to
    any material fact, or omit to state any material fact necessary
    to make the statements therein, in light of the circumstances
    under which they were made, not false or misleading, it will
    promptly inform the other party thereof and take the necessary
    steps to correct such information in an amendment or supplement
    to the Registration Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Partners will advise the Company, promptly after
    Partners receives notice thereof, of the time when the
    Registration Statement has become effective or any supplement or
    amendment has been filed, of the issuance of any stop order or
    the suspension of the qualification of the New Partners Common
    Units for offering or sale in any jurisdiction, of the
    initiation or threat of any proceeding for any such purpose, or
    of any request by the SEC for the amendment or supplement of the
    Registration Statement or for additional information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The Company will use its commercially reasonable best
    efforts to cause the Proxy Statement to be mailed to its
    Stockholders as soon as practicable after the effective date of
    the Registration Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.5&#160;&#160;</FONT><I>Press
    Releases</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of the Company and the Partners Entities will not, without
    the prior approval of the Company Board, in the case of
    Partners, and the Partners Board, in the case of the Company,
    issue any press release or written statement for general
    circulation relating to the transactions contemplated hereby,
    except as otherwise required by applicable Law or the rules of
    the NASDAQ or the NYSE, as applicable, in which case it will
    consult with the other party before issuing any such press
    release or written statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.6&#160;&#160;</FONT><I>Access;
    Information</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Upon reasonable notice and subject to applicable Laws
    relating to the exchange of information, each party shall, and
    shall cause its Subsidiaries to, afford the other parties and
    their officers, employees, counsel, accountants and other
    authorized representatives, access, during normal business hours
    throughout the period prior to the Effective Time, to all of its
    properties, books, contracts, commitments and records, and to
    its officers, employees, accountants, counsel or other
    representatives, and, during such period, it shall, and shall
    cause its Subsidiaries to, furnish promptly to such Person and
    its representatives (i)&#160;a copy of each material report,
    schedule and other document filed by it pursuant to the
    requirements of federal or state securities law (other than
    reports or documents that the Company or the Partners Entities
    or their respective Subsidiaries, as the case may be, are not
    permitted to disclose under applicable Law) and (ii)&#160;all
    other information concerning the business, properties and
    personnel of it as the other may reasonably request. Neither the
    Company nor any of the Partners Entities nor any of their
    respective Subsidiaries shall be required to provide access to
    or to disclose information where such access or disclosure would
    jeopardize the attorney-client privilege of the institution in
    possession or control of such information or contravene any Law,
    fiduciary duty or binding agreement entered into prior to the
    date of this Agreement. The parties hereto will make appropriate
    substitute disclosure arrangements under the circumstances in
    which the restrictions of the preceding sentence apply.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The Partners Entities and the Company, respectively,
    will not use any information obtained pursuant to this
    <U>Section&#160;6.6</U> or <U>Section&#160;6.7</U> (to which it
    was not entitled under Law or any agreement other than this
    Agreement) for any purpose unrelated to (i)&#160;the
    consummation of the transactions contemplated by this Agreement
    or (ii)&#160;the matters contemplated by <U>Section&#160;6.7</U>
    in accordance with the terms thereof, and will hold all
    information and documents obtained pursuant to this
    <U>Section&#160;6.6</U> or <U>Section&#160;6.7</U> in confidence
    (except as permitted by <U>Section&#160;6.7(b)</U>). No
    investigation by any such party of the business and affairs of
    any other shall affect or be deemed to modify or waive any
    representation, warranty, covenant or agreement in this
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Agreement, or the conditions to any such party&#146;s obligation
    to consummate the transactions contemplated by this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The Company and Partners shall cause their respective
    Subsidiaries to permit the Partners Entities and the Company and
    their respective Representatives, as applicable to conduct a
    physical inspection of the Company Vessels or the Partners
    Vessels, as applicable, during the period prior to the Closing
    (such inspections to be performed (i)&#160;after providing
    reasonable advance notice to the Company or Partners, as
    applicable, of the specific inspection requests,
    (ii)&#160;during normal business hours and (iii)&#160;without
    interfering with the normal course of business of the Company
    Vessels or Partners Vessels and their respective crew members,
    as applicable). The parties acknowledge and agree that,
    notwithstanding this <U>Section&#160;6.6</U> or other provisions
    herein to the contrary, (i)&#160;neither the Company nor
    Partners shall be obligated to repair any Company Vessel or
    Partners Vessel, as applicable, or cure any breach related to
    the Company Vessels or Partners Vessels, as applicable, as a
    result of such inspection, and (ii)&#160;that any costs or
    expenses to remedy the conditions and exceptions set forth in
    <U>Section&#160;5.1(p)</U> of the Company Disclosure Schedule
    remain the obligation of the Company and the Surviving Entity
    after the Effective Time and any costs or expenses to remedy the
    conditions and exceptions set forth in
    <U>Section&#160;5.2(p)</U> of the Partners Disclosure Schedule
    remain the obligation of Partners and Partners GP after the
    Effective Time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.7&#160;&#160;<I>Acquisition
    Proposals; Change in Recommendation.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;None of the Company and its Subsidiaries shall, and
    they shall use their commercially reasonable best efforts to
    cause their Representatives not to, directly or indirectly,
    (i)&#160;initiate, solicit, facilitate or encourage the
    submission of any Acquisition Proposal, (ii)&#160;participate in
    any discussions or negotiations regarding, or furnish to any
    person any non-public information with respect to, any
    Acquisition Proposal or (iii)&#160;waive any
    &#147;standstill&#148; agreement. Notwithstanding the foregoing,
    but subject to the limitations in <U>Section&#160;6.7(b)</U>,
    nothing contained in this Agreement shall prohibit the Company
    from furnishing any information to, or entering into or
    participating in discussions or negotiations with, any Person
    that makes an unsolicited written Acquisition Proposal that did
    not result from a knowing and intentional breach of this
    <U>Section&#160;6.7</U> (a <B><I>&#147;Receiving
    Party&#148;</I></B>), if (i)&#160;the Company Board, after
    consultation with its outside legal counsel and financial
    advisors, determines in good faith (A)&#160;that such
    Acquisition Proposal constitutes or is likely to result in a
    Superior Proposal, and (B)&#160;that failure to take such action
    would be inconsistent with its fiduciary duties under applicable
    Law and (ii)&#160;prior to furnishing any such non-public
    information to such Receiving Party, the Company receives from
    such Receiving Party an executed Confidentiality Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The Company shall promptly provide or make available to
    the Partners Entities any non-public information concerning the
    Company or any of its Subsidiaries that is provided or made
    available to any Receiving Party pursuant to this
    <U>Section&#160;6.7</U> which was not previously provided or
    made available to the Partners Entities substantially
    concurrently with the time such information is provided to the
    Receiving Party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Except as otherwise provided in this
    <U>Section&#160;6.7(c)</U>, the Company Board shall not (1)
    (a)&#160;withdraw, modify or qualify in any manner adverse to
    Partners the Company Recommendation or (b)&#160;publicly approve
    or recommend, or publicly propose to approve or recommend, any
    Acquisition Proposal (any action described in this
    clause&#160;(1) being referred to as a <B><I>&#147;Company
    Change in Recommendation&#148;</I></B>); or (2)&#160;approve,
    adopt or recommend, or publicly propose to approve, adopt or
    recommend, or allow the Company or any of its Subsidiaries to
    execute or enter into, any letter of intent, memorandum of
    understanding, agreement in principle, merger agreement,
    acquisition agreement, option agreement, joint venture
    agreement, partnership agreement, or other similar contract or
    any tender or exchange offer providing for, with respect to, or
    in connection with, any Acquisition Proposal. Notwithstanding
    the foregoing, at any time prior to obtaining the Company
    Stockholder Approval, the Company Board may (x)&#160;make a
    Company Change in Recommendation and (y)&#160;with respect to a
    Superior Proposal, terminate this Agreement pursuant to
    <U>Section&#160;8.1(d)</U> to enter into an agreement relating
    to a Superior Proposal, as applicable, if it has concluded in
    good faith, after consultation with its outside legal counsel
    and financial advisors, that failure to make a Company Change in
    Recommendation and terminate this Agreement, as applicable,
    would constitute or would be reasonably likely to constitute a
    violation of its fiduciary duties to the Stockholders under
    applicable Law; <I>provided, however</I>, that the Company Board
    shall not be entitled to exercise its right to (x)&#160;make a
    Company Change in
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Recommendation pursuant to this sentence or (y)&#160;terminate
    this Agreement pursuant to <U>Section&#160;8.1(d)</U> to enter
    into an agreement relating to a Superior Proposal, as
    applicable, unless the Company and its Subsidiaries has:
    (i)&#160;complied in all material respects with this
    <U>Section&#160;6.7</U>, (ii)&#160;provided to the Partners
    Entities and the Partners Conflicts Committee three
    (3)&#160;Business Days prior written notice (such notice, a
    <B><I>&#147;Notice of Proposed Recommendation
    Change&#148;</I></B>) advising the Partners Entities that the
    Company Board intends to take such action and specifying the
    reasons therefor in reasonable detail, including, if applicable,
    the terms and conditions of any Superior Proposal that is the
    basis of the proposed action and the identity of the Person
    making the proposal and contemporaneously providing a copy of
    all relevant proposed transaction documents for such Superior
    Proposal (it being understood and agreed that any amendment to
    the terms of any such Superior Proposal shall require a new
    Notice of Proposed Recommendation Change and an additional three
    (3)&#160;Business Day period), (iii)&#160;during such period,
    the Company and its Representatives shall negotiate in good
    faith with the Partners Entities and its Representatives (to the
    extent that Partners wishes to negotiate) to amend this
    Agreement so as to enable the Company Board
    <FONT style="white-space: nowrap">and/or</FONT> the
    Company Independent Directors&#146; Committee to proceed with
    the transactions contemplated hereby
    <FONT style="white-space: nowrap">and/or</FONT> the
    Company Recommendation and at the end of such period maintain
    the Company Recommendation (after taking into account any agreed
    modification to the terms of this Agreement), in each case as
    applicable, and (iv)&#160;if applicable, provide to the Partners
    Entities all materials and information delivered or made
    available to the Person or group of Persons making any Superior
    Proposal in connection with such Superior Proposal (to the
    extent not previously provided). Any Company Change in
    Recommendation shall not change the approval of this Agreement
    or any other approval of the Company Board, including in any
    respect that would have the effect of causing any Takeover Law
    to be applicable to the transactions contemplated hereby or
    thereby, including the Merger. Notwithstanding any provision in
    this Agreement to the contrary, the Partners Entities shall
    maintain, and cause its Representatives to maintain, the
    confidentiality of all information received from the Company
    pursuant to this <U>Section&#160;6.7</U>, subject to the
    exceptions contained in the NDA.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;In addition to the obligations of the Company set forth
    in this <U>Section&#160;6.7</U>, the Company shall as promptly
    as practicable (and in any event within 24&#160;hours after
    receipt) advise the Partners Entities orally and in writing of
    any Acquisition Proposal and the material terms and conditions
    of any such Acquisition Proposal (including any changes thereto)
    and the identity of the Person making any such Acquisition
    Proposal. The Company shall keep the Partners Entities informed
    on a reasonably current basis of material developments with
    respect to any such Acquisition Proposal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Nothing contained in this Agreement shall prevent the
    Company or the Company Board from taking and disclosing to the
    Stockholders a position contemplated by
    <FONT style="white-space: nowrap">Rule&#160;14d-9</FONT>
    and
    <FONT style="white-space: nowrap">Rule&#160;14e-2(a)</FONT>
    promulgated under the Exchange Act (or any similar communication
    to limited partners), if then applicable to the Company with
    respect to an applicable transaction or from making any legally
    required disclosure to stockholders. Any
    &#147;stop-look-and-listen&#148; communication by the Company or
    the Company Board to the Stockholders pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14d-9(f)</FONT>
    promulgated under the Exchange Act (or any similar communication
    to the Stockholders), if then applicable to the Company, with
    respect to an applicable transaction shall not be considered a
    failure to make, or a withdrawal, modification or change in any
    manner adverse to the Partners Entities of, all or a portion of
    the Company Recommendation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;The Company acknowledges that the agreements contained
    in this <U>Section&#160;6.7</U> are an integral part of the
    transactions contemplated by this Agreement, and that, without
    these agreements, the Partners Entities would not have entered
    into this Agreement. Accordingly, if there shall have been any
    permanent injunction, other order issued by any court of
    competent jurisdiction or other legal restraint or prohibition,
    that (i)&#160;would require or permit the Company, any of its
    Subsidiaries or any of their respective Representatives to act
    or fail to act in a manner that would, in the absence of such
    order, injunction or other order, legal restraint or
    prohibition, constitute a material violation of clause&#160;(a)
    of <U>Section&#160;6.7</U> or (ii)&#160;limits the rights of the
    Partners Entities in any material respect under this
    <U>Section&#160;6.7</U>, Partners shall have the right to
    terminate this Agreement pursuant to <U>Section&#160;8.1</U>
    hereof.
</DIV>
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    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.8&#160;&#160;</FONT><I>Affiliate
    Arrangements</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not later than the 15th&#160;day after the mailing of
    the Proxy Statement, the Company shall deliver to Partners a
    schedule of each Person that, to the best of its Knowledge, is
    or is reasonably likely to be, as of the date of the relevant
    Meeting, deemed to be an &#147;affiliate&#148; of the Company (a
    <B><I>&#147;Rule&#160;145 Affiliate&#148;</I></B>) as that term
    is used in Rule&#160;145 under the Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The Company shall use its commercially reasonable best
    efforts to cause its Rule&#160;145 Affiliates not to sell any
    securities received under the Merger in violation of the
    registration requirements of the Securities Act, including
    Rule&#160;145 thereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.9&#160;&#160;</FONT><I>Takeover
    Laws.</I>&#160;&#160; Neither party shall take any action that
    would cause the transactions contemplated by this Agreement to
    be subject to requirements imposed by any Takeover Laws, and
    each of them shall take all necessary steps within its control
    to exempt (or ensure the continued exemption of) the
    transactions contemplated by this Agreement from, or if
    necessary challenge the validity or applicability of, any rights
    plan adopted by such party or any applicable Takeover Law, as
    now or hereafter in effect, including, without limitation,
    Takeover Laws of any state or foreign jurisdiction that purport
    to apply to this Agreement or the transactions contemplated
    hereby.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;</FONT>6.10&#160;&#160;<I>Reserved.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.11&#160;&#160;</FONT><I>New
    Partners Common Units Listed.</I>&#160;&#160;In the case of
    Partners, Partners shall use its commercially reasonable best
    efforts to list, prior to the Closing, on the NASDAQ, upon
    official notice of issuance, the New Partners Common Units.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.12&#160;&#160;</FONT><I>Third
    Party Approvals</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Each of the Partners Entities and the Company and their
    respective Subsidiaries shall cooperate and use their respective
    commercially reasonable best efforts to prepare all
    documentation, to effect all filings, to obtain all permits,
    consents, approvals and authorizations of all third parties
    necessary to consummate the transactions contemplated by this
    Agreement and to comply with the terms and conditions of such
    permits, consents, approvals and authorizations and to cause the
    Merger to be consummated as expeditiously as practicable. Each
    of the Partners Entities and the Company shall have the right to
    review in advance, and to the extent practicable each will
    consult with the other, in each case subject to applicable Laws
    relating to the exchange of information, with respect to, all
    material written information submitted to any third party or any
    Governmental Authorities in connection with the transactions
    contemplated by this Agreement. In exercising the foregoing
    right, each of the parties hereto agrees to act reasonably and
    promptly. Each party hereto agrees that it will consult with the
    other parties hereto with respect to the obtaining of all
    material permits, consents, approvals and authorizations of all
    third parties and Governmental Authorities necessary, proper or
    advisable to consummate the transactions contemplated by this
    Agreement, and each party will keep the other parties apprised
    of the status of material matters relating to completion of the
    transactions contemplated hereby.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Each party agrees, upon request, to furnish the other
    party with all information concerning itself, its Subsidiaries,
    directors, officers and equityholders and such other matters as
    may be reasonably necessary or advisable in connection with the
    Registration Statement, the Proxy Statement or any filing,
    notice or application made by or on behalf of such other party
    or any of such Subsidiaries to any Governmental Authority in
    connection with the transactions contemplated hereby.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.13&#160;&#160;</FONT><I>Indemnification;
    Directors&#146; and Officers&#146; Insurance</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Without limiting any additional rights that any
    director, officer, trustee, employee, agent, or fiduciary may
    have under any employment or indemnification agreement or under
    the Company Articles of Incorporation, the Company Bylaws, or
    this Agreement or, if applicable, similar organizational
    documents or agreements of any of the Company&#146;
    Subsidiaries, from and after the Effective Time, Partners and
    the Surviving Entity, jointly and severally, shall:
    (i)&#160;indemnify and hold harmless each Person who is at the
    date hereof or during the period from the date hereof through
    the date of the Effective Time serving as a director or officer
    of the Company or any of its Subsidiaries or as a fiduciary
    under or with respect to any employee benefit plan (within the
    meaning of Section&#160;3(3) of ERISA) (collectively, the
    <B><I>&#147;Indemnified Parties&#148;</I></B>) to the fullest
    extent
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    authorized or permitted by applicable Law, as now or hereafter
    in effect, in connection with any Claim and any losses, claims,
    damages, liabilities, costs, Indemnification Expenses,
    judgments, fines, penalties and amounts paid in settlement
    (including all interest, assessments and other charges paid or
    payable in connection with or in respect of any thereof)
    resulting therefrom; and (ii)&#160;promptly pay on behalf of or,
    within ten (10)&#160;days after any request for advancement,
    advance to each of the Indemnified Parties, any Indemnification
    Expenses incurred in defending, serving as a witness with
    respect to or otherwise participating with respect to any Claim
    in advance of the final disposition of such Claim, including
    payment on behalf of or advancement to the Indemnified Party of
    any Indemnification Expenses incurred by such Indemnified Party
    in connection with enforcing any rights with respect to such
    indemnification
    <FONT style="white-space: nowrap">and/or</FONT>
    advancement, in each case without the requirement of any bond or
    other security. The indemnification and advancement obligations
    of Partners and the Surviving Entity pursuant to this
    <U>Section&#160;6.13(a)</U> shall extend to acts or omissions
    occurring at or before the Effective Time and any Claim relating
    thereto (including with respect to any acts or omissions
    occurring in connection with the approval of this Agreement and
    the consummation of the Merger and the transactions contemplated
    by this Agreement, including the consideration and approval
    thereof and the process undertaken in connection therewith and
    any Claim relating thereto), and all rights to indemnification
    and advancement conferred hereunder shall continue as to a
    Person who has ceased to be a director or officer of the Company
    or any of its Subsidiaries or as a fiduciary under or with
    respect to any employee benefit plan (within the meaning of
    Section&#160;3(3) of ERISA) after the date hereof and shall
    inure to the benefit of such Person&#146;s heirs, executors and
    personal and legal representatives. As used in this
    <U>Section&#160;6.13</U>: (x)&#160;the term
    <B><I>&#147;Claim&#148;</I></B> means any threatened, asserted,
    pending or completed action, whether instituted by any party
    hereto, any Governmental Authority or any other Person, that any
    Indemnified Party in good faith believes might lead to the
    institution of any action or proceeding, whether civil,
    criminal, administrative, investigative or other, including any
    arbitration or other alternative dispute resolution mechanism
    (<B><I>&#147;Action&#148;</I></B>), arising out of or pertaining
    to matters that relate to such Indemnified Party&#146;s duties
    or service as a director or officer of the Company, any of its
    Subsidiaries, or as a fiduciary under or with respect to any
    employee benefit plan (within the meaning of Section&#160;3(3)
    of ERISA) maintained by any of the foregoing at or prior to the
    Effective Time; and (y)&#160;the term
    <B><I>&#147;Indemnification Expenses&#148;</I></B> means
    reasonable attorneys&#146; fees and all other reasonable costs,
    expenses and obligations (including experts&#146; fees, travel
    expenses, court costs, retainers, transcript fees, duplicating,
    printing and binding costs, as well as telecommunications,
    postage and courier charges) paid or incurred in connection with
    investigating, defending, being a witness in or participating in
    (including on appeal), or preparing to investigate, defend, be a
    witness in or participate in, any Claim for which
    indemnification is authorized pursuant to this
    <U>Section&#160;6.13(a)</U>, including any Action relating to a
    Claim for indemnification or advancement brought by an
    Indemnified Party. Neither Partners nor the Surviving Entity
    shall settle, compromise or consent to the entry of any judgment
    in any actual or threatened Action in respect of which
    indemnification has been or could be sought by such Indemnified
    Party hereunder unless such settlement, compromise or judgment
    includes an unconditional release of such Indemnified Party from
    all liability arising out of such Action without admission or
    finding of wrongdoing, or such Indemnified Party otherwise
    consents thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Without limiting the foregoing, Partners and the
    Company agree that all rights to indemnification, advancement of
    expenses and exculpation from liabilities for acts or omissions
    occurring at or prior to the Effective Time now existing in
    favor of the Indemnitees as provided in the Company Articles of
    Incorporation and Company Bylaws (and, as applicable, the
    charter, bylaws, partnership agreement, limited liability
    company agreement, or other organizational documents of any of
    the Company&#146;s Subsidiaries) and indemnification agreements
    of the Company or any of its Subsidiaries shall be assumed by
    the Surviving Entity and Partners in the Merger, without further
    action, at the Effective Time and shall survive the Merger and
    shall continue in full force and effect in accordance with their
    terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;For a period of six (6)&#160;years from the Effective
    Time, the Surviving Entity&#146;s Articles of Incorporation and
    Bylaws shall contain provisions no less favorable with respect
    to indemnification, advancement of expenses and limitations on
    liability of directors and officers than are set forth in the
    Company Articles of Incorporation and Company Bylaws, which
    provisions shall not be amended, repealed or otherwise modified
    for a period of six (6)&#160;years from the Effective Time in
    any manner that would affect adversely the rights thereunder of
    individuals who, at or prior to the Effective Time, were
    Indemnified Parties, unless such modification shall be required
    by Law and then only to the minimum extent required by Law.
</DIV>
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    <BR>
    A-42
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Partners shall, or shall cause the Surviving Entity to,
    maintain for a period of at least six (6)&#160;years following
    the Effective Time, the current policies of directors&#146; and
    officers&#146; liability insurance maintained by the Company and
    its Subsidiaries (<I>provided, </I>that the Surviving Entity may
    substitute therefor policies of at least the same coverage and
    amounts containing terms and conditions which are not less
    advantageous to such directors and officers of the Company than
    the terms and conditions of such existing policy from carriers
    with the same or better rating as the carrier under the existing
    policy provided that such substitution shall not result in gaps
    or lapses of coverage with respect to matters occurring before
    the Effective Time) with respect to claims arising from facts or
    events that occurred on or before the Effective Time, including
    in respect of the Merger and the transactions contemplated by
    this Agreement; <I>provided, </I>that Partners shall not be
    required to pay annual premiums in excess of 300% of the last
    annual premium paid by the Company prior to the date hereof but
    in such case shall purchase as much coverage as reasonably
    practicable for such amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;The provisions of <U>Section&#160;6.13(d)</U> shall be
    deemed to have been satisfied if prepaid &#147;tail&#148;
    policies have been obtained by the Surviving Entity for purposes
    of this <U>Section&#160;6.13</U> from carriers with the same or
    better rating as the carrier of such insurances as of the date
    of this Agreement, which policies provide such directors and
    officers with the coverage described in
    <U>Section&#160;6.13(d)</U> for an aggregate period of not less
    than six (6)&#160;years with respect to claims arising from
    facts or events that occurred on or before the Effective Time,
    including, in respect of the Merger and the transactions
    contemplated by this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;If Partners, the Surviving Entity or any of their
    respective successors or assigns (i)&#160;consolidates with or
    merges with or into any other Person and shall not be the
    continuing or surviving corporation, partnership or other entity
    of such consolidation or merger or (ii)&#160;transfers or
    conveys all or substantially all of its properties and assets to
    any Person, then, and in each such case, proper provision shall
    be made so that the successors and assigns of Partners and the
    Surviving Entity assume the obligations set forth in this
    <U>Section&#160;6.13</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;Partners shall cause the Surviving Entity to perform
    all of the obligations of the Surviving Entity under this
    <U>Section&#160;6.13</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;This <U>Section&#160;6.13</U> shall survive the
    consummation of the Merger and is intended to be for the benefit
    of, and shall be enforceable by, the Indemnified Parties and the
    Indemnitees and their respective heirs and personal
    representatives, and shall be binding on Partners, the Surviving
    Entity and their respective successors and assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.14&#160;&#160;</FONT><I>Notification
    of Certain Matters.</I>&#160;&#160;Each of the Company and the
    Partners Entities shall give prompt notice to the other of
    (a)&#160;any fact, event or circumstance Known to it that
    (i)&#160;is reasonably likely, individually or taken together
    with all other facts, events and circumstances Known to it, to
    result in any Material Adverse Effect with respect to it or
    (ii)&#160;would cause or constitute a material breach of any of
    its representations, warranties, covenants or agreements
    contained herein, (b)&#160;any change in its condition
    (financial or otherwise) or business or any litigation or
    governmental complaints, investigations or hearings, in each
    case to the extent such change, litigation, complaints,
    investigations, or hearings, would constitute a Material Adverse
    Effect with respect to it, (c)&#160;any fact, event or
    circumstance Known to it that could reasonably be expected to
    cause any condition to the transactions contemplated by this
    Agreement not to be satisfied, and (d)&#160;its failure to
    comply with any covenant or agreement to be complied by it
    pursuant to this Agreement which could reasonably be expected to
    result in any condition to the transactions contemplated by this
    Agreement not to be satisfied.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.15&#160;&#160;</FONT><I>Distributions.</I>&#160;&#160;The
    Company shall consult with Partners GP regarding the declaration
    and payment of distributions and dividends, respectively, in
    respect of the Company Common Stock and the record dates and
    payment dates relating thereto, so that no applicable unitholder
    of Partners shall receive two distributions, or fail to receive
    one distribution, for any single calendar quarter with respect
    to its applicable New Partners Common Units any such Stockholder
    receives in exchange therefor pursuant to the Merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.16&#160;&#160;</FONT><I>Amendment
    of Omnibus Agreement.</I>&#160;&#160;At or prior to the Closing,
    Partners GP, Partners, Capital Product Operating GP L.L.C. and
    Capital Maritime will enter into the Partners Omnibus Agreement
    Amendment to include terms substantially similar to those
    contained in that certain Business Opportunities Agreement dated
    March&#160;1, 2010, among Capital Maritime and the Company, as
    amended as of the date of this
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Agreement; <I>provided, however</I>, that the parties to that
    agreement will negotiate in good faith reasonable time periods
    pursuant to which the Partners Entities may elect to pursue
    certain opportunities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.17&#160;&#160;</FONT><I>Amendment
    of Partners Partnership Agreement; Partners Board Membership</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;At or prior to the Closing, Partners GP will cause the
    Partners Partnership Agreement to be amended to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;modify Section&#160;15.1 of the Partners Partnership
    Agreement, relating to the ability of Partners GP to acquire the
    remaining outstanding securities of any class of Partners
    securities held by all holders other than Partners GP or its
    Affiliates if Partners GP or its Affiliates hold at least 80% of
    all such securities in such class, so that such right is
    triggered at 90% instead of 80%;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;provide that the Partners Board shall consist of eight
    members.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Prior to the mailing of the Proxy Statement, the
    Company shall designate one member of the Company Independent
    Directors&#146; Committee (the <B><I>&#147;Company Director
    Designee&#148;</I></B>) to serve as a member of the Partners
    Board following the Effective Time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The Partners Board shall nominate the Company Director
    Designee for election to the Partners Board as an Elected
    Director (as defined in the Partners Partnership Agreement) and
    serving as a Class&#160;I Director or Class&#160;II Director,
    whichever class designation would have the longer then-remaining
    term as of the Effective Time, and effective immediately
    following the Effective Time, shall elect the Company Director
    Designee to the Partners Board and appoint the Company Director
    Designee to the Audit Committee and Conflicts Committee of the
    Partners Board. The seven (7)&#160;members of the Partners Board
    immediately prior to the Effective Time shall continue to serve
    as members of the Partners Board following the Effective Time.
    Subject to the foregoing, Partners shall take such action as is
    necessary to cause the director designated pursuant to this
    <U>Section&#160;6.17</U> to be appointed to the Partners Board
    effective as of the Effective Time, to serve until the earlier
    of such individual&#146;s resignation or removal or until his
    successor is duly elected and qualified.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.18&#160;&#160;</FONT><I>Qualification
    as Reorganization</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;This Agreement is intended to constitute a &#147;plan
    of reorganization&#148; within the meaning of
    <FONT style="white-space: nowrap">Section&#160;1.368-2(g)</FONT>
    of the U.S.&#160;Treasury Regulations. From and after the date
    of this Agreement and until the Effective Time, each of
    Partners, Partners GP and the Company will use its commercially
    reasonable best efforts to cause the Merger to qualify, and will
    not, without the prior written consent of the other party,
    knowingly take any actions or cause any actions to be taken
    which could reasonably be expected to prevent the Merger from
    qualifying, as a reorganization under the provisions of
    Section&#160;368(a) of the Code. Following the Effective Time,
    and consistent with any such consent, none of the Partners
    Entities or their respective Subsidiaries, nor any of their
    respective Affiliates, will knowingly take any action or cause
    any action to be taken that would cause the Merger to fail to so
    qualify as a reorganization under Section&#160;368(a) of the
    Code.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The Company and the Partners Entities will use
    commercially reasonable efforts to obtain the Tax opinions
    described in <U>Section&#160;7.8</U> (the <B><I>&#147;Company
    Tax Opinion&#148;</I></B> and the <B><I>&#147;Partners Tax
    Opinion&#148;</I></B>). Officers of Partners, MergerCo and the
    Company will use commercially reasonable efforts to deliver to
    Sullivan&#160;&#038; Cromwell LLP, counsel to the Company, and a
    nationally recognized law firm, as counsel to Partners,
    representation letters and such other items deemed necessary by
    such counsel, in each case in form and substance satisfactory to
    such counsel and at such time or times as may be reasonably
    requested by such counsel, including the effective date of the
    Registration Statement and the Effective Time, except that
    neither Partners nor the Company shall be obligated to deliver
    such letters if the proposed statements and representations set
    forth therein are not true, correct and complete in all respects
    at such time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The Company and the Partners Entities agree to
    restructure the Merger as a merger of the Company with and into
    a wholly owned subsidiary of Partners that is classified as an
    entity disregarded from its owner for United States federal
    income tax purposes (<B><I>&#147;Disregarded
    MergerCo&#148;</I></B>), with Disregarded MergerCo being the
    surviving entity, if such restructuring is necessary to ensure
    that the acquisition of the Company qualifies as a
    reorganization under Section&#160;368(a) of the Code or to
    ensure the receipt of the Company Tax Opinion and the Partners
    Tax Opinion.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.19&#160;&#160;</FONT><I>MergerCo
    Obligations.</I>&#160;&#160;Immediately following the execution
    and delivery of this Agreement by each of the parties hereto,
    Partners, as sole stockholder of MergerCo, will adopt this
    Agreement. Partners will cause MergerCo to perform all of its
    covenants, agreements and obligations under this Agreement and
    the other agreements contemplated hereby.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">CONDITIONS
    TO CONSUMMATION OF THE MERGER
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The obligations of each of the parties to consummate the Merger
    are conditioned upon the satisfaction or waiver at or prior to
    the Closing of each of the following; <I>provided, however,
    </I>that no party may rely on the failure of any condition set
    forth in Article<U> VII</U> if such failure was caused by such
    party&#146;s failure to comply in any material respect with its
    obligations under this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.1&#160;&#160;</FONT><I>Stockholder
    Vote.</I>&#160;&#160;This Agreement shall have been authorized,
    approved and adopted by the affirmative vote of (a)&#160;holders
    of a majority of voting power of (x)&#160;the Company Common
    Stock and Company Class&#160;B Stock outstanding and entitled to
    vote at the Company Meeting, voting together as a class, and
    (y)&#160;the Company Class&#160;B Stock outstanding and entitled
    to vote at the Company Meeting, voting separately (collectively,
    the <B><I>&#147;Company Stockholder Approval&#148;</I></B>), and
    (b)&#160;holders of a majority of the voting power of the
    Company Common Stock outstanding and entitled to vote at the
    Company Meeting held by Company Unaffiliated Stockholders,
    voting separately (the <B><I>&#147;Company Unaffiliated
    Stockholder Approval&#148;</I></B>).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.2&#160;&#160;</FONT><I>Governmental
    Approvals.</I>&#160;&#160;All filings required to be made prior
    to the Effective Time with, and all other consents, approvals,
    permits and authorizations required to be obtained prior to the
    Effective Time from, any Governmental Authority in connection
    with the execution and delivery of this Agreement and the
    consummation of the transactions contemplated hereby by the
    parties hereto or their Affiliates shall have been made or
    obtained, except where the failure to obtain such consents,
    approvals, permits and authorizations would not constitute a
    Material Adverse Effect on the Partners Entities or the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.3&#160;&#160;</FONT><I>No
    Actions.</I>&#160;&#160;No order, decree or injunction of any
    court or agency of competent jurisdiction shall be in effect,
    and no Law shall have been enacted or adopted, that enjoins,
    prohibits or makes illegal consummation of any of the
    transactions contemplated hereby substantially on the terms
    contemplated in this Agreement, and no action, proceeding or
    investigation by any Governmental Authority with respect to the
    Merger or the other transactions contemplated hereby
    substantially on the terms contemplated in this Agreement shall
    be pending that seeks to restrain, enjoin, prohibit, delay or
    make illegal the consummation of the Merger or such other
    transaction or to impose any material restrictions or
    requirements thereon or on the Partners Entities or the Company
    with respect thereto; <I>provided, however</I>, that prior to
    invoking this condition, each party shall have complied fully
    with its obligations under <U>Section&#160;6.1</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.4&#160;&#160;</FONT><I>Representations,
    Warranties and Covenants of the Partners
    Entities.</I>&#160;&#160;In the case of the Company&#146;s
    obligation to consummate the Merger:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;(i)&#160;Each of the representations and warranties of
    the Partners Entities set forth in <U>Section&#160;5.2(a)</U>,
    <U>Section&#160;5.2(b)</U>, <U>Section&#160;5.2(c)(i)</U> and
    <U>Section&#160;5.2(i)(i)</U> of this Agreement shall be true
    and correct (other than any inaccuracies that are de minimis in
    the aggregate) as of the date of this Agreement and as of the
    Closing Date as though made on and as of the Closing Date
    (except to the extent that such representations and warranties
    speak as of another date, in which case such representations and
    warranties shall be so true and correct as of such other date),
    and (ii)&#160;each of the other representations and warranties
    of the Partners Entities set forth in this Agreement
    (disregarding for this purpose all qualifications and exceptions
    contained therein relating to materiality or Material Adverse
    Effect) shall be true and correct as of the date of this
    Agreement and as of the Closing Date as though made on and as of
    the Closing Date (except to the extent that such representations
    and warranties speak as of another date, in which case such
    representations and warranties shall be so true and correct as
    of such other date), except as would not constitute a Material
    Adverse Effect on the Partners Entities.
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;each and all of the agreements and covenants of the
    Partners Entities to be performed and complied with pursuant to
    this Agreement on or prior to the Closing Date shall have been
    duly performed and complied with in all material
    respects;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The Company shall have received a certificate signed by
    the Chief Executive Officer of Partners GP, dated the Closing
    Date, to the effect set forth in <U>Section&#160;7.4(a)</U> and
    <U>Section&#160;7.4(b)</U>; <I>provided, however, </I>that
    nothing in this <U>Section&#160;7.4</U> will prohibit any of the
    Partners Entities from acquiring or entering into agreements to
    acquire vessels (including non-tanker vessels) or the equity of
    any Person owning such vessels and financing such acquisitions
    (by the issuance of equity securities, debt securities or
    otherwise) and taking all other actions reasonably incidental
    thereto, and none of such actions shall be deemed a breach of a
    representation, warranty, covenant or agreement hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.5&#160;&#160;</FONT><I>Representations,
    Warranties and Covenants of the Company.</I>&#160;&#160;In the
    case of the Partners Entities&#146; obligation to consummate the
    Merger:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;(i)&#160;Each of the representations and warranties of
    the Company set forth in <U>Section&#160;5.1(a)</U>,
    <U>Section&#160;5.1(b)</U>, <U>Section&#160;5.1(c)(i)</U> and
    <U>Section&#160;5.1(i)(i)</U> of this Agreement shall be true
    and correct (other than any inaccuracies that are de minimis in
    the aggregate) as of the date of this Agreement and as of the
    Closing Date as though made on and as of the Closing Date
    (except to the extent that such representations and warranties
    speak as of another date, in which case such representations and
    warranties shall be so true and correct as of such other date),
    and (ii)&#160;each of the other representations and warranties
    of the Company set forth in this Agreement (disregarding for
    this purpose all qualifications and exceptions contained therein
    relating to materiality or Material Adverse Effect), shall be
    true and correct as of the date of this Agreement and as of the
    Closing Date as though made on and as of the Closing Date
    (except to the extent that such representations and warranties
    speak as of another date, in which case such representations and
    warranties shall be so true and correct as of such other date),
    except as would not constitute a Material Adverse Effect on the
    Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Each and all of the agreements and covenants of the
    Company to be performed and complied with pursuant to this
    Agreement on or prior to the Closing Date shall have been duly
    performed and complied with in all material respects;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Partners shall have received a certificate signed by
    the Chief Executive Officer of the Company, dated the Closing
    Date, to the effect set forth in <U>Section&#160;7.5(a)</U> and
    <U>Section&#160;7.5(b)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.6&#160;&#160;</FONT><I>Other
    Approvals.</I>&#160;&#160;All Company Necessary Consents,
    Partners Necessary Consents and consents set forth on
    <U>Section&#160;7.6</U> of the Company Disclosure Schedule shall
    have been obtained and shall be in full force and effect, except
    those Other Approvals the failure of which to obtain would not
    constitute a Material Adverse Effect on the Company or the
    Partners Entities.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.7&#160;&#160;</FONT><I>Effective
    Registration Statement.</I>&#160;&#160;The Registration
    Statement shall have become effective under the Securities Act
    and no stop order suspending the effectiveness of the
    Registration Statement shall have been issued and no proceedings
    for that purpose shall have been initiated or threatened by the
    SEC.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.8&#160;&#160;</FONT><I>Company
    Tax Opinion and Partners Tax Opinion.</I>&#160;&#160;The Company
    shall have received an opinion of Sullivan&#160;&#038; Cromwell
    LLP and Partners shall have received an opinion of a nationally
    recognized law firm, each dated the Effective Time and to the
    effect that, for U.S.&#160;federal income tax purposes,
    (a)&#160;the Merger should qualify as a reorganization within
    the meaning of Section&#160;368(a) of the Code. The issuance of
    such opinion shall be conditioned upon the receipt by such
    counsel of customary representation letters from each of
    Partners, MergerCo and the Company and such other items deemed
    necessary by such counsel, in each case, in form and substance
    satisfactory to such counsel. Each such representation letter
    shall be dated on the date of such opinion and shall not have
    been withdrawn or modified in any material respect.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.9&#160;&#160;</FONT><I>NASDAQ
    Listing.</I>&#160;&#160;The New Partners Common Units shall have
    been approved for listing on the NASDAQ, subject to official
    notice of issuance.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.10&#160;&#160;</FONT><I>Partners
    Partnership Agreement Amendment and Partners Omnibus Agreement
    Amendment.</I>&#160;&#160;The Partners Partnership Agreement
    Amendment and the Partners Omnibus Agreement Amendment shall be
    effective.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VIII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">TERMINATION
    </FONT>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;8.1&#160;&#160;</FONT><I>Termination.</I>&#160;&#160;Notwithstanding
    anything herein to the contrary, this Agreement may be
    terminated and the Merger may be abandoned at any time prior to
    the Effective Time, whether before or after the Company
    Stockholder Approval or Company Unaffiliated Stockholder
    Approval is obtained:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;By the mutual consent of Partners and the Company in a
    written instrument.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;By either Partners or the Company upon written notice
    to the other, if:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;the Merger has not been consummated on or before
    September&#160;30, 2011 (the <B><I>&#147;Termination
    Date&#148;</I></B>); provided that the right to terminate this
    Agreement pursuant to this <U>Section&#160;8.1(b)(i)</U> shall
    not be available to a party whose failure to fulfill any
    material obligation under this Agreement or other material
    breach of this Agreement has been the primary cause of, or
    resulted in, the failure of the Merger to have been consummated
    on or before such date;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;any Governmental Authority has issued a statute, rule,
    order, decree or regulation or taken any other action, in each
    case permanently restraining, enjoining or otherwise prohibiting
    the consummation of the Merger or any of the transactions
    contemplated hereby or making the Merger or any of the
    transactions contemplated hereby illegal and such statute, rule,
    order, decree, regulation or other action shall have become
    final and nonappealable (<I>provided </I>that the terminating
    party is not then in breach of <U>Section&#160;6.1</U>);
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;the Company fails to obtain the Company Stockholder
    Approval at the Company Meeting; <I>provided, however</I>, that
    the right to terminate this Agreement under this
    <U>Section&#160;8.1(b)(iii)</U> shall not be available to the
    Company where the failure to obtain the Company Stockholder
    Approval shall have been caused by the action or failure to act
    of the Company and such action or failure to act constitutes a
    material breach by the Company of this Agreement;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;there has been a material breach of or any material
    inaccuracy in any of the representations or warranties set forth
    in this Agreement on the part of any of the other parties
    (treating the Partners Entities as one party for purposes of
    this <U>Section 8.1</U>), which breach or inaccuracy is not
    cured within 30&#160;days following receipt by the breaching
    party of written notice of such breach from the terminating
    party, or which breach or inaccuracy, by its nature, cannot be
    cured prior to the Termination Date (<I>provided </I>in any such
    case that the terminating party is not then in material breach
    of any representation, warranty, covenant or other agreement
    contained herein); <I>provided</I>, <I>however</I>, that no
    party shall have the right to terminate this Agreement pursuant
    to this <U>Section&#160;8.1(b)(iv)</U> unless the breach or
    inaccuracy of a representation or warranty, together with all
    other such breaches or inaccuracy, would entitle the party
    receiving such representation not to consummate the transactions
    contemplated by this Agreement under <U>Section&#160;7.4</U> (in
    the case of a breach of representation or warranty by the
    Partners Entities) or <U>Section 7.5</U> (in the case of a
    breach of representation or warranty by the Company);&#160;or
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;there has been a material breach of any of the
    covenants or agreements set forth in this Agreement on the part
    of any other party, which breach has not been cured within
    30&#160;days following receipt by the breaching party of written
    notice of such breach from the terminating party, or which
    breach, by its nature, cannot be cured prior to the Termination
    Date (provided in any such case that the terminating party is
    not then in material breach of any representation, warranty,
    covenant or other agreement contained herein); <I>provided</I>,
    <I>however</I>, that no party shall have the right to terminate
    this Agreement pursuant to this <U>Section&#160;8.1(b)(v)</U>
    unless the breach of covenants or agreements, together with all
    other such breaches, would entitle the party receiving the
    benefit of such covenants or agreements not to consummate the
    transactions contemplated by this Agreement under
    <U>Section&#160;7.4</U> (in the case of a breach of covenants or
    agreements by the Partners Entities) or <U>Section&#160;7.5</U>
    (in the case of a breach of covenants or agreements by the
    Company).
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;By Partners, upon written notice to the Company, in the
    event that a Company Change in Recommendation has occurred.
</DIV>
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    <BR>
    A-47
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;By the Company, upon written notice to Partners, in the
    event that if, at any time after the date of this Agreement and
    prior to obtaining the Company Stockholder Approval, the Company
    receives an Acquisition Proposal and the Company Board shall
    have concluded in good faith that such Acquisition Proposal
    constitutes a Superior Proposal, the Company Board shall have
    made a Company Change in Recommendation pursuant to
    <U>Section&#160;6.7(c)</U> with respect to such Superior
    Proposal, the Company has not intentionally breached<U>
    Section&#160;6.7</U> of this Agreement, and the Company Board
    concurrently approves, and the Company concurrently enters into,
    a definitive agreement with respect to such Acquisition Proposal
    and has paid the Company Termination Fee pursuant to
    <U>Section&#160;9.1(a)</U>.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;by Partners if there shall have been any permanent
    injunction, other order issued by any court of competent
    jurisdiction or other legal restraint or prohibition, that
    (i)&#160;would require or permit the Company, any of its
    Subsidiaries or any of their respective Representatives to act
    or fail to act in a manner that would, in the absence of such
    order, injunction, other order, legal restraint or prohibition,
    constitute a material violation of clause&#160;(a) of
    <U>Section&#160;6.7</U> or (ii)&#160;would reduce or otherwise
    limit the rights of Parent in any material respect under
    <U>Section&#160;6.7</U> or <U>Section&#160;9.1</U>.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;8.2&#160;&#160;</FONT><I>Effect
    of Termination.</I>&#160;&#160;In the event of the termination
    of this Agreement as provided in <U>Section&#160;8.1</U>,
    written notice thereof shall forthwith be given by the
    terminating party to the other parties specifying the provision
    of this Agreement pursuant to which such termination is made,
    and except as provided in this <U>Section&#160;8.2</U> and
    <U>Section&#160;9.13</U>, this Agreement (other than
    <U>Article&#160;IX</U>) shall forthwith become null and void
    after the expiration of any applicable period following such
    notice. In the event of such termination, there shall be no
    liability on the part of the Partners Entities or the Company,
    except as set forth in <U>Section&#160;9.1</U> of this Agreement
    and except with respect to the requirement to comply with
    <U>Section&#160;6.6(b)</U>; provided that nothing herein shall
    relieve any party from any liability or obligation with respect
    to any fraud or willful breach of this Agreement.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;IX<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">MISCELLANEOUS
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.1&#160;&#160;</FONT><I>Fees
    and Expenses.</I>&#160;&#160;Whether or not the Merger is
    consummated, all costs and expenses incurred in connection with
    this Agreement and the transactions contemplated hereby shall be
    paid by the party incurring such costs or expenses, except as
    provided in <U>Section&#160;9.1(a)</U>, <U>9.1(b)</U>,
    <U>9.1(c)</U> and <U>9.1(e)</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;If this Agreement is terminated by Partners pursuant to
    <U>Section&#160;8.1(c)</U> or by the Company pursuant to
    <U>Section&#160;8.1(d)</U>, then the Company shall pay to
    Partners the Company Termination Fee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;In the event that (i)&#160;an Acquisition Proposal with
    respect to the Company has been publicly proposed by any Person
    (meaning, for the purpose of this <U>Section&#160;9.1(b)</U>, a
    Person other than Partners, Partners GP and MergerCo or any
    Affiliate thereof) or any Person has publicly announced its
    intention (whether or not conditional) to make such an
    Acquisition Proposal or such an Acquisition Proposal or such
    intention has otherwise become publicly known to the
    Stockholders generally and in any event such proposal or
    intention is not subsequently withdrawn prior to the termination
    of this Agreement, (ii)&#160;thereafter this Agreement is
    terminated by either the Company or Partners pursuant to
    <U>Section&#160;8.1(b)(i)</U> or <U>Section&#160;8.1(b)(iii)</U>
    or by Partners pursuant to <U>Section&#160;8.1(b)(iv)</U> or
    <U>Section&#160;8.1(b)(v)</U> and (iii)&#160;within
    12&#160;months after the termination of this Agreement, the
    Company or any of its Subsidiaries enters into any definitive
    agreement providing for an Acquisition Proposal, or an
    Acquisition Proposal with respect to the Company or any of its
    Subsidiaries is consummated, then the Company shall pay to
    Partners, if and when consummation of such Acquisition Proposal
    occurs (or, if earlier, upon entry into such definitive
    agreement), the Company Termination Fee less all Expenses of
    Partners previously paid to Partners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;If this Agreement is terminated by the Company pursuant
    to <U>Section&#160;8.1(b)(iv)</U> or
    <U>Section&#160;8.1(b)(v)</U>, then Partners shall pay to the
    Company the Expenses of the Company. If this Agreement is
    terminated by Partners pursuant to
    <U>Section&#160;8.1(b)(iv)</U> or <U>Section&#160;8.1(b)(v)</U>,
    then the Company shall pay to Partners the Expenses of Partners.
</DIV>
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    <BR>
    A-48
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Except as otherwise provided herein, any payment of the
    Company Termination Fee or Expenses pursuant to this
    <U>Section&#160;9.1</U> shall be made by wire transfer of
    immediately available funds to an account designated by Partners
    within one Business Day after such payment becomes payable;
    <I>provided, however, </I>that any payment of the Company
    Termination Fee by the Company as a result of termination under
    <U>Section&#160;8.1(c)</U> or <U>Section&#160;8.1(d)</U> shall
    be made prior to or concurrently with termination of this
    Agreement; <I>provided, however</I>, that any payment of the
    Company Termination Fee pursuant to <U>Section&#160;9.1(b)</U>
    shall be made contemporaneously with the consummation of the
    Acquisition Proposal (or, if earlier, entry into such definitive
    agreement) as provided in clause&#160;(iii) of
    <U>Section&#160;9.1(b)</U>.&#160;&#160;The parties acknowledge
    that the agreements contained in this <U>Section&#160;9.1</U>
    are an integral part of the transactions contemplated by this
    Agreement, and that, without these agreements, none of the
    parties would enter into this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;(i)&#160;If the Merger is consummated, Partners shall
    pay, or cause to be paid, any and all property or transfer taxes
    imposed on either party in connection with the Merger,
    (ii)&#160;Expenses incurred in connection with filing, printing
    and mailing the Proxy Statement and the Registration Statement
    shall be paid one-half by Partners and one-half by the Company,
    and (iii)&#160;any filing fees payable pursuant to regulatory
    Laws and other filing fees incurred in connection with this
    Agreement shall be paid by the party incurring the fees. As used
    in this agreement, <B><I>&#147;Expenses&#148;</I></B> includes
    all
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses (including all fees and expenses of counsel,
    accountants, investment bankers, experts and consultants to a
    party hereto and its affiliates) incurred by a party or on its
    behalf in connection with or related to the authorization,
    preparation, negotiation, execution and performance of this
    Agreement and the transactions contemplated hereby, including
    the preparation, printing, filing and mailing of the Proxy
    Statement and the Registration Statement and the solicitation of
    Stockholder approvals and all other matters related to the
    transactions contemplated hereby; <I>provided, however</I>, that
    the amount of Expenses payable by one party to another under
    this <U>Section&#160;9.1</U> shall not exceed $3.0&#160;million.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;This <U>Section&#160;9.1</U> shall survive any
    termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.2&#160;&#160;</FONT><I>Waiver;
    Amendment.</I>&#160;&#160;Subject to compliance with applicable
    Law, prior to the Closing, any provision of this Agreement may
    be (a)&#160;waived in writing by the party benefited by the
    provision and approved by the Partners Conflicts Committee in
    the case of the Partners Entities and by the Company Independent
    Directors&#146; Committee in the case of the Company and
    executed in the same manner as this Agreement, or
    (b)&#160;amended or modified at any time, whether before or
    after the Company Stockholder Approval by an agreement in
    writing between the parties hereto approved by the Partners
    Board in the case of Partners and by the Company Board in the
    case of the Company and executed in the same manner as this
    Agreement, <I>provided</I>, that after the Company Stockholder
    Approval, no amendment shall be made that requires further
    Company Stockholder Approval without such approval.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.3&#160;&#160;</FONT><I>Counterparts.</I>&#160;&#160;This
    Agreement may be executed in one or more counterparts, each of
    which shall be deemed to constitute an original.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.4&#160;&#160;</FONT><I>Governing
    Law.</I>&#160;&#160;This Agreement shall be governed by and
    construed in accordance with the Law of the State of Delaware,
    without giving effect to any choice or conflict of Law provision
    or rule (whether of the State of Delaware or any other
    jurisdiction) that would cause the application of the Laws of
    any jurisdiction other than the State of Delaware.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.5&#160;&#160;</FONT><I>Confidentiality.</I>&#160;&#160;Each
    of the parties hereto and their respective agents, attorneys and
    accountants will maintain the confidentiality of all information
    provided in connection herewith to the extent required by, and
    subject to the limitations of, <U>Section&#160;6.6(b)</U> and
    the NDA.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.6&#160;&#160;</FONT><I>Notices.</I>&#160;&#160;All
    notices, requests and other communications hereunder to a party
    shall be in writing and shall be deemed given if
    (a)&#160;personally delivered, (b)&#160;telecopied (with
    confirmation of receipt) (c)&#160;mailed by registered or
    certified mail (return receipt requested) or
    <FONT style="white-space: nowrap">(d)&#160;e-mailed</FONT>
    (with confirmation of receipt) to such party at its address, fax
    number and
    <FONT style="white-space: nowrap">e-mail</FONT>
    address set forth below or such other address, fax number or
    <FONT style="white-space: nowrap">e-mail</FONT>
    address as such party may specify by notice to the parties
    hereto.
</DIV>
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    <BR>
    A-49
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If to any of the Partners Entities, to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Product Partners L.P.
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Piraeus, 18537 Greece
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Facsimile: (+30) 210 4284 285
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Email:&#160;kminpacpal@verizon.net
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Attention:&#160;Chairman of the Conflicts Committee
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With copies (which shall not constitute proper notice hereunder)
    to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Akin Gump Strauss Hauer&#160;&#038; Feld LLP
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1111 Louisiana Street
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    44th Floor
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Houston, Texas
    <FONT style="white-space: nowrap">77002-5200</FONT>
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Facsimile:
    <FONT style="white-space: nowrap">(713)&#160;236-0822</FONT>
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Email:&#160;vkendrick@akingump.com
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="8%"></TD>
    <TD width="88%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Attn:&#160;
</TD>
    <TD align="left">
    J. Vincent Kendrick
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 12%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Patrick Hurley
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If to the Company, to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude Carriers Corp.
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Piraeus, 18537 Greece
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Facsimile:&#160;(+30) 210 4538 746
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Email:&#160;dimitris.christacopoulos@gmail.com
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Attention:&#160;Chairman of the Independent Directors&#146;
    Committee
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With copies (which shall not constitute proper notice hereunder)
    to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Jones Day
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    717 Texas
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Suite&#160;3300
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Houston, Texas
    <FONT style="white-space: nowrap">77002-2712</FONT>
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Facsimile:
    <FONT style="white-space: nowrap">(832)&#160;239-3600</FONT>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="8%"></TD>
    <TD width="88%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Email:&#160;
</TD>
    <TD align="left">
    markmetts@jonesday.com
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 12%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    aolivarez@jonesday.com
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="8%"></TD>
    <TD width="88%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Attn:&#160;
</TD>
    <TD align="left">
    J. Mark Metts
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 12%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Angela Olivarez
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.7&#160;&#160;</FONT><I>Entire
    Understanding; No Third Party Beneficiaries.</I>&#160;&#160;This
    Agreement represents the entire understanding of the parties
    hereto with reference to the transactions contemplated hereby
    and supersedes any and all other oral or written agreements
    heretofore made except for the NDA and the Support Agreement,
    which shall survive until the Termination Date or the Effective
    Time, as the case may be. Except as contemplated by
    <U>Section&#160;6.13</U>, nothing in this Agreement, expressed
    or implied, is intended to confer upon any person, other than
    the parties hereto or their respective successors, any rights,
    remedies, obligations or liabilities under or by reason of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.8&#160;&#160;</FONT><I>Severability.</I>&#160;&#160;Any
    provision of this Agreement which is invalid, illegal or
    unenforceable in any jurisdiction shall, as to that
    jurisdiction, be ineffective to the extent of such invalidity,
    illegality or unenforceability, without affecting in any way the
    remaining provisions hereof in such jurisdiction or rendering
    that or any other provision of this Agreement invalid, illegal
    or unenforceable in any other jurisdiction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.9&#160;&#160;</FONT><I>Headings.</I>&#160;&#160;The
    headings contained in this Agreement are for reference purposes
    only and are not part of this Agreement.
</DIV>
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    <BR>
    A-50
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.10&#160;&#160;</FONT><I>Jurisdiction</I>.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Each of the parties hereto irrevocably agrees that any
    legal action or proceeding with respect to this Agreement and
    the rights and obligations arising hereunder, or for recognition
    and enforcement of any judgment in respect of this Agreement and
    the rights and obligations arising hereunder brought by the
    other party hereto or its successors or assigns, shall be
    brought and determined exclusively in the Court of Chancery in
    the State of Delaware, or if (but only if) that court does not
    have subject matter jurisdiction over such action or proceeding,
    in the United States District Court for the District of
    Delaware. Each of the parties hereto hereby irrevocably submits
    with regard to any such action or proceeding for itself and in
    respect of its property, generally and unconditionally, to the
    personal jurisdiction of the aforesaid courts and agrees that it
    will not bring any action relating to this Agreement or any of
    the transactions contemplated by this Agreement in any court
    other than the aforesaid courts and to accept service of process
    in any manner permitted by such courts. Each of the parties
    hereto hereby irrevocably waives, and agrees not to assert, by
    way of motion, as a defense, counterclaim or otherwise, in any
    action or proceeding with respect to this Agreement,
    (a)&#160;any claim that it is not personally subject to the
    jurisdiction of the above named courts for any reason other than
    the failure to lawfully serve process, (b)&#160;any claim that
    it or its property is exempt or immune from jurisdiction of any
    such court or from any legal process commenced in such courts
    (whether through service of notice, attachment prior to
    judgment, attachment in aid of execution of judgment, execution
    of judgment or otherwise) and (c)&#160;to the fullest extent
    permitted by the applicable law, any claim that (i)&#160;the
    proceeding in such court is brought in an inconvenient forum,
    (ii)&#160;the venue of such proceeding is improper or
    (iii)&#160;this Agreement, or the subject matter of this
    Agreement, may not be enforced in or by such courts.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;By its execution and delivery of this Agreement, each
    of the Company and the Partners Entities (i)&#160;irrevocably
    designates and appoints the Trust&#160;Company (Marshall
    Islands) as its authorized agent (the
    <B><I>&#147;Agent&#148;</I></B>) upon which process may be
    served in any proceeding arising out of or relating to this
    Agreement or any of the transactions contemplated hereby and
    (ii)&#160;agrees that service of process upon its Agent shall be
    deemed, in every respect, effective service of process upon such
    Partners Entity or the Company, as applicable, in any such
    proceeding. Each Partners Entity and the Company further agrees,
    at its own expense, to take any and all action, including the
    execution and filing of any and all such documents and
    instruments, as may be necessary to continue such designation
    and appointment of its Agent in full force and effect. The
    foregoing shall not limit the rights of any party to serve
    process in any other manner permitted by Law.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.11&#160;&#160;</FONT><I>Waiver
    of Jury Trial.</I>&#160;&#160;EACH OF THE PARTIES HERETO HEREBY
    IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
    LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR
    THE TRANSACTIONS CONTEMPLATED HEREBY.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.12&#160;&#160;</FONT><I>Specific
    Performance.</I>&#160;&#160;The parties agree that irreparable
    damage would occur if any of the provisions of this Agreement
    were not performed in accordance with their specific terms or
    were otherwise breached. It is accordingly agreed that the
    parties shall be entitled to seek an injunction or injunctions
    to prevent breaches of this Agreement and to enforce
    specifically the terms and provisions of this Agreement
    exclusively in Court of Chancery in the State of Delaware, or if
    (but only if) that court does not have subject matter
    jurisdiction over such action or proceeding, in the United
    States District Court for the District of Delaware.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.13&#160;&#160;</FONT><I>Survival.</I>&#160;&#160;All
    representations, warranties, agreements and covenants contained
    in this Agreement shall not survive the Closing or the
    termination of this Agreement if this Agreement is terminated
    prior to the Closing; <I>provided, however</I>, that if the
    Closing occurs, the agreements of the parties in
    <U>Sections&#160;3.3</U>, <U>3.5</U>, <U>6.13</U> and
    <U>Article&#160;IX</U> shall survive the Closing, and if this
    Agreement is terminated prior to the Closing, the agreements of
    the parties in <U>Section&#160;6.6(b)</U> and <U>8.2</U> and in
    <U>Article&#160;IX</U> shall survive such termination.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.14&#160;&#160;</FONT><I>No
    Act or Failure to Act.</I>&#160;&#160;With respect to any waiver
    or consent for which this Agreement expressly requires waiver or
    consent by the Partners Conflicts Committee, no waiver or
    consent by or on behalf of Partners pursuant to or as
    contemplated by this Agreement shall have any effect unless such
    waiver or consent is expressly approved by the Partners
    Conflicts Committee. With respect to any act or failure to act
    for which this Agreement expressly requires action or inaction
    by the Partners Conflicts Committee, no such act or failure to
    act by the Partners Board shall constitute a breach by Partners
    of this Agreement unless such act or failure to act is expressly
    approved by the Partners Conflicts Committee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">[Remainder
    of this page is intentionally left blank.]</FONT></I>
</DIV>
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    <BR>
    A-51
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    IN WITNESS WHEREOF, the parties hereto have caused this
    Agreement to be executed in counterparts by their duly
    authorized officers, all as of the day and year first above
    written
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CAPITAL GP L.L.C.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Ioannis E. Lazaridis
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Executive Officer and Chief <BR>
    Financial Officer of Capital GP L.L.C.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CAPITAL PRODUCT PARTNERS L.P.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    Capital GP L.L.C.,
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    its general partner
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Ioannis E. Lazaridis
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Executive Officer and<BR>
    Chief Financial Officer of Capital G.P. L.L.C.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>POSEIDON PROJECT CORP.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Evangelos
    G. Bairactaris</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Evangelos G. Bairactaris
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Director
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CRUDE CARRIERS CORP.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Gerasimos
    G. Kalogiratos</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Gerasimos G. Kalogiratos
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Financial Officer
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Signature Page to Agreement and Plan of Merger</I>
</DIV>
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    <BR>
    A-52
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;A</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">FORM&#160;OF
    SUPPORT AGREEMENT</FONT></B>
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Annex&#160;A</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>SUPPORT AGREEMENT<BR>
    BY AND AMONG<BR>
    </B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CAPITAL PRODUCT PARTNERS, L.P.<BR>
    AND<BR>
    EVANGELOS M. MARINAKIS<BR>
    IOANNIS E. LAZARIDIS<BR>
    GERASIMOS G. KALOGIRATOS<BR>
    CRUDE CARRIERS INVESTMENTS CORP.<BR>
    DATED AS OF MAY 5, 2011</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
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    <BR>
    A-2
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Table
    of Contents</FONT></U></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="Y91492tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
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    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
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    <TD width="85%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
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</TR>
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<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><U>Page</U></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
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<TD colspan="3" valign="top">
    ARTICLE&#160;1 GENERAL
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    1.1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Defined Terms
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    ARTICLE&#160;2 VOTING
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    2.1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Agreement to Vote
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    2.2
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    No Inconsistent Agreements
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    2.3
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Proxy
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    ARTICLE&#160;3 REPRESENTATIONS AND WARRANTIES
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    3.1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations and Warranties of Each Shareholder
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    3.2
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Representations and Warranties of Partners
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    ARTICLE&#160;4 OTHER COVENANTS
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Prohibition on Transfers, Other Actions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.2
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Distributions, etc
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.3
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Other Shares
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.4
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    No Solicitation
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.5
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Notice of Proposals&#160;Regarding Prohibited Transactions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.6
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Further Assurances
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.7
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Shareholder Capacity
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    4.8
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Waiver of Appraisal Rights and Dissenters&#146; Rights and
    Actions
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    ARTICLE&#160;5 MISCELLANEOUS
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Termination
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.2
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Limitation on Liability
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.3
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    No Ownership Interest
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.4
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Publicity
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.5
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Notices
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.6
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Interpretation
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.7
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Counterparts
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.8
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Entire Agreement
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.9
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Governing Law; Consent to Jurisdiction; Waiver of Jury Trial
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-10
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.10
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Amendment; Waiver
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.11
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Remedies
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.12
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Severability
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.13
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Action by Partners
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-11
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    5.14
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Successors and Assigns; Third Party Beneficiaries
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    A-12
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left">
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</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-3
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SUPPORT
    AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>SUPPORT AGREEMENT</B>, dated as of May&#160;5, 2011 (this
    <B><I>&#147;Agreement&#148;</I></B>), by and among Capital
    Product Partners, L.P., a Republic of Marshall Islands limited
    partnership (<B><I>&#147;Partners&#148;</I></B>), and Evangelos
    M. Marinakis, Ioannis E. Lazaridis, Gerasimos G. Kalogiratos,
    and Crude Carriers Investments Corp., a Republic of Marshall
    Islands corporation (collectively, the
    <B><I>&#147;Shareholders&#148;</I></B> and, individually, a
    <B><I>&#147;Shareholder&#148;</I></B>).
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">W I T N E
    S S E T H:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    WHEREAS, concurrently with the execution of this Agreement,
    Partners, Capital GP L.L.C., a Republic of Marshall Islands
    limited liability company (<B><I>&#147;Partners
    GP&#148;</I></B>), Crude Carriers Corp., a Republic of Marshall
    Islands corporation (the <B><I>&#147;Company&#148;</I></B>), and
    Poseidon Project Corp., a Republic of Marshall Islands
    Corporation (<B><I>&#147;MergerCo&#148;</I></B>), are entering
    into an Agreement and Plan of Merger, dated as of the date
    hereof (as amended, supplemented, restated or otherwise modified
    from time to time, the <B><I>&#147;Merger
    Agreement&#148;</I></B>) pursuant to which, among other things,
    MergerCo will merge with and into the Company, with the Company
    being the surviving entity (the
    <B><I>&#147;Merger&#148;</I></B>), such that following the
    Merger, Partners will be the sole stockholder of the Company,
    and each outstanding share of Common Stock, par value $0.0001
    per share (<B><I>&#147;Common Stock&#148;</I></B>), and share of
    Class&#160;B Stock, par value $0.0001 per share
    (<B><I>&#147;Class&#160;B Stock&#148;</I></B>), of the Company
    will be converted into the right to receive the merger
    consideration specified therein;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, as of the date hereof, each Shareholder is the
    record
    <FONT style="white-space: nowrap">and/or</FONT>
    beneficial owner, in the aggregate, of the number of shares of
    Common Stock and Class&#160;B Stock set forth opposite such
    Shareholder&#146;s name on <U>Schedule&#160;I</U> hereto (the
    <B><I>&#147;Existing Shares&#148;</I></B>);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, as a material inducement to Partners entering
    into the Merger Agreement, Partners has required that the
    Shareholders agree, and the Shareholders have agreed, to enter
    into this Agreement and abide by the covenants and obligations
    with respect to the Existing Shares set forth herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, in consideration of the foregoing and the
    mutual representations, warranties, covenants and agreements
    herein contained, and intending to be legally bound hereby, the
    parties hereto agree as follows:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;1<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">GENERAL
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;&#160;<I>Defined Terms.</I>&#160;&#160;The following
    capitalized terms, as used in this Agreement, shall have the
    meanings set forth below. Capitalized terms used but not
    otherwise defined herein shall have the meanings ascribed
    thereto in the Merger Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Affiliate&#148;</I> has the meaning set forth in
    Rule&#160;405 of the rules and regulations under the Securities
    Act, unless otherwise expressly stated herein. For purposes of
    this Agreement, with respect to each Shareholder or other
    Person, Affiliate shall not include the Company or any Person
    that is directly or indirectly, through one or more
    intermediaries, controlled by the Company. For the avoidance of
    doubt, no officer or director of the Company, Partners, Partners
    GP or any of their controlled Affiliates shall be deemed to be
    an Affiliate of a Shareholder or other Person by virtue of his
    or her status as a director or officer of the Company, Partners,
    Partners GP or any of their controlled Affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Beneficial Ownership&#148;</I> by a Person of any
    securities includes ownership by any Person who, directly or
    indirectly, including through any contract, arrangement,
    understanding, relationship or otherwise, has or shares
    (i)&#160;voting power which includes the power to vote, or to
    direct the voting of, such security;
    <FONT style="white-space: nowrap">and/or</FONT>
    (ii)&#160;investment power which includes the power to dispose,
    or to direct the disposition, of such security; and shall
    otherwise be interpreted in accordance with the term
    &#147;beneficial ownership&#148; as defined in
    <FONT style="white-space: nowrap">Rule&#160;13d-3</FONT>
    adopted by the Securities and Exchange Commission under the
    Exchange Act; provided that for purposes of determining
    Beneficial Ownership, a Person shall be deemed to be the
    Beneficial Owner of any securities which such Person has, at any
    time during the term of this Agreement, the right to acquire
    pursuant to any agreement, arrangement or understanding or upon
    the exercise of conversion rights, exchange rights, warrants or
    options, or otherwise (irrespective of whether the right to
    acquire such securities is exercisable immediately or only after
    the passage of time, including the passage of time in excess of
    60&#160;days, the satisfaction of any
</DIV>
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    <BR>
    A-4
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    conditions, the occurrence of any event or any combination of
    the foregoing). The terms <B><I>&#147;Beneficially
    Own&#148;</I></B> and <B><I>&#147;Beneficially
    Owned&#148;</I></B> shall have a correlative meaning.
</DIV>

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    <I>&#147;Transfer&#148;</I> means, directly or indirectly, to
    sell, transfer, assign, pledge, encumber, hypothecate or
    similarly dispose of (by merger (including by conversion into
    securities or other consideration), by tendering into any tender
    or exchange offer, by testamentary disposition, by operation of
    law or otherwise), either voluntarily or involuntarily, or to
    enter into any contract, option or other arrangement or
    understanding with respect to the voting of or sale, transfer,
    assignment, pledge, encumbrance, hypothecation or similar
    disposition of (by merger, by tendering into any tender or
    exchange offer, by testamentary disposition, by operation of law
    or otherwise).
</DIV>

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    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;2<BR>
    </FONT>
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    <FONT style="font-family: 'Times New Roman', Times">VOTING
    </FONT>
</DIV>

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    2.1&#160;&#160;<I>Agreement to Vote.</I>&#160;&#160;Each
    Shareholder hereby irrevocably and unconditionally agrees that,
    during the term of this Agreement, at the Company Meeting and at
    any other meeting of the Stockholders, however called, including
    any adjournment or postponement thereof, and in connection with
    any written consent of the Stockholders relating to the Merger
    or an Acquisition Proposal, such Shareholder shall to the
    fullest extent that the Existing Shares are entitled to vote
    thereon or consent thereto:
</DIV>

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    (a)&#160;appear at each such meeting or otherwise cause its
    Existing Shares to be counted as present thereat for purposes of
    calculating a quorum;&#160;and
</DIV>

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    (b)&#160;vote (or cause to be voted), in person or by proxy, or
    deliver (or cause to be delivered) a written consent covering
    all of the Existing Shares (i)&#160;in favor of the approval and
    adoption of the Merger Agreement, the approval of the Merger and
    any other action required in furtherance thereof submitted for
    the vote or written consent of Stockholders; (ii)&#160;against
    any action or agreement that would result in a breach of any
    covenant, representation or warranty or any other obligation or
    agreement of the Company contained in the Merger Agreement;
    (iii)&#160;against any Acquisition Proposal; and
    (iv)&#160;against any action, agreement or transaction that
    would or would reasonably be expected to materially impede,
    interfere with, delay, postpone, discourage, frustrate the
    purposes of or adversely affect the Merger or the other
    transactions contemplated by the Merger Agreement.
</DIV>

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    2.2&#160;&#160;<I>No Inconsistent
    Agreements.</I>&#160;&#160;Each Shareholder hereby covenants and
    agrees that, except for this Agreement and as contemplated by
    this Agreement, such Shareholder (a)&#160;has not entered into,
    and shall not enter into at any time while this Agreement
    remains in effect, any voting agreement or voting trust with
    respect to its Existing Shares, (b)&#160;has not granted, and
    shall not grant at any time while this Agreement remains in
    effect, a proxy, consent or power of attorney with respect to
    its Existing Shares (other than a proxy or proxies to vote its
    Existing Shares in a manner consistent with this Agreement) and
    (c)&#160;shall not knowingly take any action at any time while
    this Agreement remains in effect that would make any
    representation or warranty of such Shareholder contained herein
    untrue or incorrect in any material respect or have the effect
    of preventing or disabling such Shareholder from performing any
    of its obligations under this Agreement in any material respect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;&#160;<I>Proxy.</I>&#160;&#160;In order to secure the
    obligations set forth herein, each Shareholder hereby
    irrevocably appoints during the term of this Agreement as its
    proxy and attorney-in-fact, as the case may be, Evangelos G.
    Bairactaris, in his capacity as an officer of Partners, and any
    individual who shall hereafter succeed to any such office of
    Partners and any other Person designated in writing by Partners
    (collectively, the <B><I>&#147;Grantees&#148;</I></B>), each of
    them individually, with full power of substitution, to vote or
    execute written consents with respect to the Existing Shares in
    accordance with <U>Section&#160;2.1</U> and, in the discretion
    of the Grantees, with respect to any proposed postponements or
    adjournments of any annual or special meeting of the
    Stockholders at which any of the matters described in
    <U>Section&#160;2.1(b)</U> are to be considered; provided that
    any exercise of this proxy by such Grantees shall be subject to
    the approval of such exercise by the Partners Conflicts
    Committee. To the fullest extent permitted by Law, this proxy is
    coupled with an interest and shall be irrevocable, and each
    Shareholder will take such further action or execute such other
    instruments as may be necessary to effectuate the intent of this
    proxy and hereby revokes any proxy previously granted by such
    Shareholder with respect to
</DIV>
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    <BR>
    A-5
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the Existing Shares to the extent that such proxy is
    inconsistent with the provisions of this Agreement. Partners may
    terminate this proxy with respect to any Shareholder at any time
    at its sole election by written notice provided to such
    Shareholder.
</DIV>

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    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;3<BR>
    </FONT>
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    <FONT style="font-family: 'Times New Roman', Times">REPRESENTATIONS
    AND WARRANTIES
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;&#160;<I>Representations and Warranties of Each
    Shareholder.</I>&#160;&#160;Each Shareholder hereby represents
    and warrants to Partners as follows with respect to himself or
    itself:
</DIV>

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    (a)&#160;<I>Organization; Authorization; Validity of Agreement;
    Necessary Action.</I>&#160;&#160;Such Shareholder has the
    requisite power and authority (or, if an individual, capacity)
    to execute and deliver this Agreement, to carry out its
    obligations hereunder and to consummate the transactions
    contemplated hereby. The execution and delivery by such
    Shareholder of this Agreement, the performance by it of the
    obligations hereunder and the consummation of the transactions
    contemplated hereby have (if Shareholder is an entity) been duly
    and validly authorized by such Shareholder, and no other actions
    or proceedings on the part of such Shareholder are necessary to
    authorize the execution and delivery of this Agreement, the
    performance by such Shareholder of its obligations hereunder or
    the consummation of the transactions contemplated hereby. This
    Agreement has been duly executed and delivered by such
    Shareholder and, assuming the due authorization (as applicable),
    execution and delivery of this Agreement by Partners and the
    other Shareholders, constitutes a legal, valid and binding
    agreement of such Shareholder, enforceable against such
    Shareholder in accordance with its terms, subject to bankruptcy,
    insolvency, fraudulent transfer, reorganization, moratorium and
    similar laws of general applicability relating to or affecting
    creditors&#146; rights and to general equitable principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>Ownership.</I>&#160;&#160;Such Shareholder&#146;s
    Existing Shares are Beneficially Owned by such Shareholder as
    set forth on <U>Schedule&#160;I</U> hereto. Such Shareholder has
    good and marketable title to the Existing Shares, free and clear
    of any Lien that would have the effect of preventing or
    disabling said Shareholder from performing any of his or its
    obligations under this Agreement. Except as contemplated by this
    Agreement, such Shareholder has and will have at all times
    through the Closing Date sole voting power (including the right
    to control such vote as contemplated herein), sole power of
    disposition, sole power to issue instructions with respect to
    the matters set forth in <U>Article&#160;2</U> hereof, and sole
    power to agree to all of the matters set forth in this
    Agreement, in each case with respect to all of such
    Shareholder&#146;s Existing Shares.
</DIV>

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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>No Violation.</I>&#160;&#160;Except as contemplated
    by this Agreement, neither the execution and delivery of this
    Agreement by such Shareholder nor the performance by such
    Shareholder of its obligations under this Agreement will
    (i)&#160;result in a violation or breach of or conflict with any
    provisions of, or constitute a default (or an event which, with
    notice or lapse of time or both, would constitute a default)
    under, or result in the termination, cancellation of, or give
    rise to a right of purchase under, or accelerate the performance
    required by, or result in a right of termination or acceleration
    under, or result in the creation of any Lien upon any of the
    Existing Shares or result in being declared void, voidable, or
    without further binding effect, or otherwise result in a
    material detriment to such Shareholder under, any note, bond,
    mortgage, indenture, deed of trust, license, contract, lease,
    agreement or other instrument or obligation of any kind to which
    such Shareholder is a party or by which such Shareholder or any
    of its respective properties, rights or assets may be bound
    (except in each such case as would not have the effect of
    preventing, delaying in any material respect or disabling
    Shareholder from performing its obligations under this
    Agreement) or (ii)&#160;violate any judgments, decrees,
    injunctions, rulings, awards, settlements, stipulations, orders
    (collectively, <B><I>&#147;Orders&#148;</I></B>) or laws
    applicable to such Shareholder or any of its material
    properties, rights or assets or result in a violation or breach
    of or conflict with (if Shareholder is an entity) its articles
    of incorporation or bylaws.
</DIV>

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    (d)&#160;<I>Consents and Approvals.</I>&#160;&#160;No consent,
    approval, Order or authorization of, or registration,
    declaration or filing with, any Governmental Authority is
    necessary to be obtained or made by such Shareholder in
    connection with such Shareholder&#146;s execution, delivery and
    performance of this Agreement or the consummation by such
    Shareholder of the transactions contemplated hereby, except
    (i)&#160;for any reports under Sections&#160;13(d) of the
    Exchange Act as may be required in connection with this
    Agreement
</DIV>
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    <BR>
    A-6
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    and the transactions contemplated hereby, (ii)&#160;as set forth
    in the Merger Agreement or (iii)&#160;as would not reasonably be
    expected to prevent, materially delay or otherwise materially
    impair such Shareholder&#146;s ability to perform its
    obligations hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>Absence of Litigation.</I>&#160;&#160;There is no
    action, litigation or proceeding pending and no Order of any
    Governmental Authority outstanding nor, to the knowledge of such
    Shareholder, is any such action, litigation, proceeding or Order
    threatened, against such Shareholder or its Existing Shares
    which may prevent or materially delay such Shareholder from
    performing its obligations under this Agreement or consummating
    the transactions contemplated hereby.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>Adequate Information.</I>&#160;&#160;Each
    Shareholder acknowledges that it is a sophisticated party with
    respect to the Existing Shares and has adequate information
    concerning the business and financial condition of the Company
    to make an informed decision regarding the transactions
    contemplated by this Agreement and has, independently and
    without reliance upon the Company and based on such information
    as the Shareholder has deemed appropriate, made its own analysis
    and decision to enter into this Agreement. Each Shareholder
    acknowledges that Partners has not made or is not making any
    representation or warranty, whether express or implied, of any
    kind or character except as expressly set forth in this
    Agreement and the Merger Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>No Other Representations or
    Warranties.</I>&#160;&#160;Except for the representations and
    warranties expressly contained in this <U>Section&#160;3.1</U>,
    each Shareholder makes no express or implied representation or
    warranty with respect to such Shareholder, the Existing Shares
    or otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>3.2&#160;Representations and Warranties of
    Partners.</I>&#160;&#160;Partners hereby represents and warrants
    to each Shareholder that the execution and delivery of this
    Agreement by Partners and the consummation of the transactions
    contemplated hereby have been duly authorized by all necessary
    action on the part of Partners.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;4<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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    <FONT style="font-family: 'Times New Roman', Times">OTHER
    COVENANTS
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;&#160;<I>Prohibition on Transfers, Other
    Actions.</I>&#160;&#160;Each Shareholder hereby agrees not to
    (i)&#160;acquire any additional shares of Common Stock or
    Class&#160;B Stock or other voting equity interests of the
    Company or any securities convertible into or exchangeable for
    shares of Common Stock or Class&#160;B Stock or other voting
    equity interests of the Company (except for acquisitions
    contemplated by the Merger Agreement), (ii)&#160;Transfer any of
    the Existing Shares, Beneficial Ownership thereof or any other
    interest therein; (iii)&#160;enter into any agreement,
    arrangement or understanding with any Person, or take any other
    action, that violates or conflicts with or would reasonably be
    expected to violate or conflict with, or result in or give rise
    to a violation of or conflict with, such Shareholder&#146;s
    representations, warranties, covenants and obligations under
    this Agreement; or (iv)&#160;take any action that could restrict
    or otherwise affect Shareholder&#146;s legal power, authority
    and right to comply with and perform its covenants and
    obligations under this Agreement. Any Transfer in violation of
    this provision shall be null and void.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;&#160;<I>Distributions, etc.</I>&#160;&#160;In the
    event of a share split, share distribution, or any change in the
    shares of Common Stock or Class&#160;B Stock by reason of any
    <FONT style="white-space: nowrap">split-up,</FONT>
    reverse share split, recapitalization, combination,
    reclassification, exchange of shares or the like, the term
    <B><I>&#147;Existing Shares&#148;</I></B> shall be deemed to
    refer to and include such shares as well as all such share
    distributions and any securities into which or for which any or
    all of such shares may be changed or exchanged or which are
    received in such transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.3&#160;&#160;<I>Other Shares.</I>&#160;&#160;Notwithstanding
    the restrictions of <U>Section&#160;4.1</U>, in the event a
    Shareholder becomes the beneficial or record owner of any
    additional Common Stock, Class&#160;B Stock or other securities
    of the Company during the period commencing with the execution
    and delivery of this Agreement through the termination of this
    Agreement pursuant to<U> Section&#160;5.1</U>, then the terms of
    this Agreement will apply to such Common Stock, Class&#160;B
    Stock or other securities of the Company held by the Shareholder
    immediately following the Shareholder becoming the beneficial
    owner thereof, as though they were Existing Shares hereunder.
    Notwithstanding the restrictions of <U>Section&#160;4.1</U>,
    each Shareholder hereby agrees, while this Agreement is in
    effect, to promptly notify Partners in writing of the number of
    any new Common Stock, Class&#160;B Stock or other securities of
    the Company acquired by the Shareholder after the date hereof.
</DIV>
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    <BR>
    A-7
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    4.4&#160;&#160;<I>No Solicitation.</I>&#160;&#160;Subject to
    <U>Section&#160;4.7</U>, each Shareholder agrees that it will
    not, and shall use its reasonable best efforts to cause its
    Representatives not to, directly or indirectly through another
    Person, (i)&#160;solicit, initiate, facilitate or encourage the
    submission of any Acquisition Proposal or the making or
    consummation thereof, (ii)&#160;participate in any discussions
    or negotiations regarding, or furnish to any Person any
    nonpublic information about the Company or Partners in
    connection with, or otherwise cooperate in any way with, any
    Acquisition Proposal, (iii)&#160;make or participate in,
    directly or indirectly, a &#147;solicitation&#148; of
    &#147;proxies&#148; (as such terms are used in the rules of the
    U.S.&#160;Securities and Exchange Commission) or powers of
    attorney or similar rights to vote, or seek to advise or
    influence any Person with respect to the voting of, any shares
    of Common Stock or Class&#160;B Stock in connection with any
    vote or other action on any matter, other than to recommend that
    holders of shares of Common Stock or Class&#160;B Stock vote in
    favor of the approval and adoption of the Merger and the Merger
    Agreement and as otherwise expressly provided in this Agreement,
    or (iv)&#160;agree or publicly propose to do any of the
    foregoing. Each Shareholder hereby represents that, as of the
    date hereof, such Shareholder is not engaged in any discussions
    or negotiations with respect to any Acquisition Proposal and
    shall use its reasonable best efforts to cause such
    Shareholder&#146;s Representatives to immediately cease and
    cause to be terminated all existing discussions or negotiations
    with any Person conducted heretofore with respect to any
    Acquisition Proposal and request the prompt return or
    destruction of all confidential information previously furnished
    and will take commercially reasonable steps to inform its
    Representatives of the obligations undertaken by such
    Shareholder pursuant to this Agreement, including this
    <U>Section&#160;4.4.</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.5&#160;&#160;<I>Notice of Proposals&#160;Regarding Prohibited
    Transactions.</I>&#160;&#160;Each Shareholder hereby agrees to
    notify Partners as promptly as practicable (and in any event
    within 48&#160;hours after receipt) in writing of any inquiries
    or proposals which are received by, or any requests for
    information from, or any request to initiate negotiations or
    discussions with, such Shareholder or any of its Affiliates with
    respect to the Company (other than such Shareholder or its
    Representatives acting in their capacity as an officer or
    director of the Company) with respect to any Acquisition
    Proposal (including the material terms thereof and the identity
    of such Person(s) making such inquiry or proposal, requesting
    such information or seeking to initiate such negotiations or
    discussions, as the case may be).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.6&#160;&#160;<I>Further Assurances.</I>&#160;&#160;From time
    to time, each Shareholder shall execute and deliver such
    additional documents and take all such further action as may be
    reasonably requested by Partners to effect the actions and
    consummate the transactions contemplated by this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.7&#160;&#160;<I>Shareholder Capacity.</I>&#160;&#160;Each
    Shareholder has entered into this Agreement solely in its
    capacity as a Beneficial Owner of Existing Shares.
    Notwithstanding anything to the contrary contained in this
    Agreement: (i)&#160;none of the provisions of this Agreement
    shall be construed to prohibit, limit or restrict such
    Shareholder or any Representative of a Shareholder who is an
    officer of the Company, Partners or Partners GP or a member of
    the Partners Board or the Company Board from exercising his or
    her fiduciary duties to the Company or Partners by voting or
    taking any other action whatsoever in his or her capacity as an
    officer or director, including with respect to the Merger
    Agreement and the transactions contemplated thereby; and
    (ii)&#160;no action taken by the Company or Partners in respect
    of any Acquisition Proposal shall serve as the basis of a claim
    that a Shareholder is in breach of its obligations hereunder
    notwithstanding the fact that such Shareholder or such
    Shareholder&#146;s Representative, in his or her capacity as an
    officer or director of the Company or Partners GP, has provided
    advice or assistance to the Company or Partners in connection
    therewith.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.8&#160;&#160;<I> Waiver of Appraisal Rights and
    Dissenters&#146; Rights and Actions.</I>&#160;&#160;Each
    Shareholder agrees not to exercise any rights (including under
    Section&#160;101 of the Business Corporations Act of the
    Associations Law of the Republic of the Marshall Islands) to
    demand appraisal of any shares of Common Stock, Class&#160;B
    Stock or other securities of the Company or rights to dissent
    which may arise with respect to the Merger.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;5<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">MISCELLANEOUS
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;&#160;<I>Termination.</I>&#160;&#160;This Agreement
    shall remain in effect until the earliest to occur of
    (i)&#160;the Effective Time; (ii)&#160;the termination of the
    Merger Agreement in accordance with its terms; (iii)&#160;any
    amendment to the Merger Agreement that reduces or changes the
    form of the Merger Consideration, or (iv)&#160;the written
    agreement
</DIV>
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    <BR>
    A-8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of the Shareholders and Partners to terminate this Agreement.
    After the occurrence of such applicable event, this Agreement
    shall terminate and be of no further force and effect;
    <I>provided</I>, that, notwithstanding termination of this
    Agreement upon the Effective Time under clause&#160;(i) above,
    this Article&#160;V (except <U>Sections&#160;5.3</U> and
    <U>5.4</U>) shall remain in full force and effect. Nothing in
    this <U>Section&#160;5.1</U> and no termination of this
    Agreement shall relieve or otherwise limit any party of
    liability for any breach of this Agreement occurring prior to
    such termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;&#160;<I>Limitation on Liability.</I>&#160;&#160;No
    party to this Agreement shall have any liability for monetary
    damages for any breach or violation of this Agreement unless
    such breach or violation was willful or intentional, provided
    that the foregoing shall not limit a party&#146;s right to
    equitable relief as provided under <U>Section&#160;5.11.</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;&#160;<I>No Ownership Interest.</I>&#160;&#160;Nothing
    contained in this Agreement shall be deemed to vest in Partners
    any direct or indirect ownership or incidence of ownership of or
    with respect to any Existing Shares. All rights, ownership and
    economic benefit relating to the Existing Shares shall remain
    vested in and belong to each Shareholder, and Partners shall
    have no authority to direct such Shareholder in the voting
    (except as otherwise provided herein) or disposition of any of
    the Existing Shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.4&#160;&#160;<I>Publicity.</I>&#160;&#160;Each Shareholder
    hereby permits Partners and Holdings to include and disclose in
    the Registration Statement, the Joint Proxy Statement and in
    such other schedules, certificates, applications, agreements or
    documents as such entities reasonably determine to be necessary
    or appropriate in connection with the consummation of the Merger
    and the transaction contemplated in the Merger Agreement such
    Shareholder&#146;s identity and ownership of the Existing Shares
    and the nature of such Shareholder&#146;s commitments,
    arrangements and understandings pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.5&#160;&#160;<I>Notices.</I>&#160;&#160;All notices and other
    communications hereunder shall be in writing and shall be deemed
    given (1)&#160;on the date of delivery, if delivered personally,
    (2)&#160;on the first Business Day following the date of
    dispatch if delivered by a recognized next day courier service
    and (3)&#160;on the fifth Business Day following the date of
    mailing if delivered by registered or certified mail, return
    receipt requested, postage prepaid. All notices hereunder shall
    be delivered as set forth below or pursuant to such other
    instructions as may be designated in writing by the party to
    receive such notice:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If to Partners, to:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Product Partners, L.P.<BR>
    3 Iassonos Street, Piraeus,<BR>
    18537 Greece<BR>
    Attention: Chief Executive and Chief Financial Officer
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With copies to:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Product Partners L.P.<BR>
    3 Iassonos Street, Piraeus,<BR>
    18537 Greece<BR>
    Attention: Chairman of the Conflicts Committee
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Akin Gump Strauss Hauer&#160;&#038; Feld<BR>
    1111 Louisiana Street<BR>
    44th Floor<BR>
    Houston, Texas
    <FONT style="white-space: nowrap">77002-5200</FONT><BR>
    Attention: J. Vincent Kendrick
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Patrick
    J. Hurley
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If to a Shareholder, to:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Evangelos M. Marinakis<BR>
    </B>3 Iassonos Street, Piraeus,<BR>
    18537 Greece
</DIV>
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    <BR>
    A-9
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Ioannis E. Lazaridis</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street, Piraeus,
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18537 Greece
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Gerasimos G. Kalogiratos</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street, Piraeus,<BR>
    18537 Greece<BR>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Crude Carriers Investments Corp.<BR>
    </B>130, Kolokotroni Street, Piraeus,<BR>
    18536 Greece<BR>
    Attention: <B>Director</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    with a copy to:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Sullivan&#160;&#038; Cromwell LLP<BR>
    125 Broad Street<BR>
    New York, NY 10004<BR>
    Attention: Jay Clayton
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.6&#160;&#160;<I>Interpretation.</I>&#160;&#160;The words
    &#147;hereof,&#148; &#147;herein&#148; and &#147;hereunder&#148;
    and words of similar import when used in this Agreement shall
    refer to this Agreement as a whole and not to any particular
    provision of this Agreement, and Section references are to this
    Agreement unless otherwise specified. Whenever the words
    &#147;include,&#148; &#147;includes&#148; or
    &#147;including&#148; are used in this Agreement, they shall be
    deemed to be followed by the words &#147;without
    limitation.&#148; The meanings given to terms defined herein
    shall be equally applicable to both the singular and plural
    forms of such terms. The table of contents and headings
    contained in this Agreement are for reference purposes only and
    shall not affect in any way the meaning or interpretation of
    this Agreement. This Agreement is the product of negotiation by
    the parties having the assistance of counsel and other advisers.
    It is the intention of the parties that this Agreement not be
    construed more strictly with regard to one party than with
    regard to the others.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.7&#160;&#160;<I>Counterparts.</I>&#160;&#160;This Agreement
    may be executed by facsimile and in counterparts, all of which
    shall be considered one and the same agreement and shall become
    effective when counterparts have been signed by each of the
    parties and delivered to the other parties, it being understood
    that all parties need not sign the same counterpart.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.8&#160;&#160;<I>Entire Agreement.</I>&#160;&#160;This
    Agreement, together with the schedule annexed hereto, and,
    solely to the extent of the defined terms referenced herein and
    as provided in <U>Section&#160;4.3</U> hereof, the Merger
    Agreement embodies the complete agreement and understanding
    among the parties hereto with respect to the subject matter
    hereof and supersede and preempt any prior understandings,
    agreements or representations by or among the parties, written
    and oral, that may have related to the subject matter hereof in
    any way.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.9&#160;&#160;<I>Governing Law; Consent to Jurisdiction; Waiver
    of Jury Trial.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;This Agreement shall be governed by and construed in
    accordance with the Law of the State of New York, without giving
    effect to any choice or conflict of Law provision or rule
    (whether of the State of New York or any other jurisdiction)
    that would cause the application of the Laws of any jurisdiction
    other than the State of New York.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Each of the parties hereto irrevocably agrees that any
    legal action or proceeding with respect to this Agreement and
    the rights and obligations arising hereunder, or for recognition
    and enforcement of any judgment in respect of this Agreement and
    the rights and obligations arising hereunder brought by the
    other party hereto or its successors or assigns, shall be
    brought and determined exclusively in the Court of Chancery in
    the State of Delaware, or if (but only if) that court does not
    have subject matter jurisdiction over such action or proceeding,
    in the United States District Court for the District of
    Delaware. Process in any such action or proceeding may be served
    on any party anywhere in the world, whether within or without
    the jurisdiction of any such court. Without limiting the
    foregoing, each party agrees that service of process on such
    party as provided in <U>Section&#160;5.5</U> shall be deemed
    effective service or process on such party. The foregoing shall
    not limit the rights of any party to serve process in any other
    manner permitted by Law. Each
</DIV>
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    <BR>
    A-10
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of the parties hereto hereby irrevocably submits with regard to
    any such action or proceeding for itself and in respect of its
    property, generally and unconditionally, to the personal
    jurisdiction of the aforesaid courts and agrees that it will not
    bring any action relating to this Agreement or any of the
    transactions contemplated by this Agreement in any court other
    than the aforesaid courts and to accept service of process in
    any manner permitted by such courts. Each of the parties hereto
    hereby irrevocably waives, and agrees not to assert, by way of
    motion, as a defense, counterclaim or otherwise, in any action
    or proceeding with respect to this Agreement, (a)&#160;any claim
    that it is not personally subject to the jurisdiction of the
    above named courts for any reason, (b)&#160;any claim that it or
    its property is exempt or immune from jurisdiction of any such
    court or from any legal process commenced in such courts
    (whether through service of notice, attachment prior to
    judgment, attachment in aid of execution of judgment, execution
    of judgment or otherwise) and (c)&#160;to the fullest extent
    permitted by the applicable law, any claim that (i)&#160;the
    proceeding in such court is brought in an inconvenient forum,
    (ii)&#160;the venue of such proceeding is improper or
    (iii)&#160;this Agreement, or the subject matter of this
    Agreement, may not be enforced in or by such courts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
    PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
    JURY IN RESPECT OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING
    OUT OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
    EACH PARTY HERETO (I)&#160;CERTIFIES THAT NO REPRESENTATIVE,
    AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
    OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF ANY
    ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER
    AND (II)&#160;ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
    HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER
    THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS<U>
    SECTION&#160;5.8.</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.10&#160;&#160;<I>Amendment; Waiver.</I>&#160;&#160;This
    Agreement may not be amended except by an instrument in writing
    signed by Partners and each Shareholder. Each party may waive
    any right of such party hereunder by an instrument in writing
    signed by such party and delivered to Partners and the
    Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.11&#160;&#160;<I>Remedies</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Each party hereto acknowledges that monetary damages
    would not be an adequate remedy in the event that any covenant
    or agreement in this Agreement is not performed in accordance
    with its terms, and it is therefore agreed that, in addition to
    and without limiting any other remedy or right it may have, the
    non-breaching party will have the right to an injunction,
    temporary restraining order or other equitable relief in any
    court of competent jurisdiction enjoining any such breach and
    enforcing specifically the terms and provisions hereof. Each
    party hereto agrees not to oppose the granting of such relief in
    the event a court determines that such a breach has occurred,
    and to waive any requirement for the securing or posting of any
    bond in connection with such remedy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;All rights, powers and remedies provided under this
    Agreement or otherwise available in respect hereof at law or in
    equity shall be cumulative and not alternative, and the exercise
    or beginning of the exercise of any thereof by any party shall
    not preclude the simultaneous or later exercise of any other
    such right, power or remedy by such party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.12&#160;&#160;<I>Severability.</I>&#160;&#160;Any term or
    provision of this Agreement which is determined by a court of
    competent jurisdiction to be invalid or unenforceable in any
    jurisdiction shall, as to that jurisdiction, be ineffective to
    the extent of such invalidity or unenforceability without
    rendering invalid or unenforceable the remaining terms and
    provisions of this Agreement or affecting the validity or
    enforceability of any of the terms or provisions of this
    Agreement in any other jurisdiction, and if any provision of
    this Agreement is determined to be so broad as to be
    unenforceable, the provision shall be interpreted to be only so
    broad as is enforceable, in all cases so long as neither the
    economic nor legal substance of the transactions contemplated
    hereby is affected in any manner adverse to any party or its
    equityholders. Upon any such determination, the parties shall
    negotiate in good faith in an effort to agree upon a suitable
    and equitable substitute provision to effect the original intent
    of the parties as closely as possible and to the end that the
    transactions contemplated hereby shall be fulfilled to the
    maximum extent possible.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.13&#160;&#160;<I>Action by Partners.</I>&#160;&#160;No waiver,
    consent or other action by or on behalf of Partners pursuant to
    or as contemplated by this Agreement shall have any effect
    unless such waiver, consent or other action is
</DIV>
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    <BR>
    A-11
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    expressly approved by the Partners Conflicts Committee. No act
    or failure to act by the Partner Board shall constitute a breach
    by Partners of this Agreement unless such act or failure to act
    is expressly approved by the Partners Conflicts Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.14&#160;&#160;<I>Successors and Assigns; Third Party
    Beneficiaries.</I>&#160;&#160;Neither this Agreement nor any of
    the rights or obligations of any party under this Agreement
    shall be assigned, in whole or in part (by operation of law or
    otherwise), by any party without the prior written consent of
    the other parties hereto. Subject to the foregoing, this
    Agreement shall bind and inure to the benefit of and be
    enforceable by the parties hereto and their respective
    successors and permitted assigns. Nothing in this Agreement,
    express or implied, is intended to confer on any Person other
    than (a)&#160;the parties hereto or (b)&#160;the parties&#146;
    respective successors and permitted assigns any rights,
    remedies, obligations or liabilities under or by reason of this
    Agreement.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">[Remainder
    of this page intentionally left blank]
    </FONT>
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    <BR>
    A-12
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    IN WITNESS WHEREOF, the parties hereto have caused this
    Agreement to be signed (where applicable, by their respective
    officers or other authorized Person thereunto duly authorized)
    as of the date first written above.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CAPITAL PRODUCT PARTNERS L.P.,</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    Capital GP L.L.C., its general partner
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="4%"></TD>
    <TD width="43%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 57%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 57%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Ioannis E. Lazaridis
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="57%"></TD>
    <TD width="7%"></TD>
    <TD width="36%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Executive Officer and Chief Financial Officer
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>[Signature Page to Support Agreement]</I></B>
</DIV>
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    <BR>
    A-13
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<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Evangelos
    M. Marinakis</DIV>
</DIV>

<DIV style="font-size: 2pt; margin-left: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="center" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Evangelos M. Marinakis</I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>[Signature Page to Support Agreement]</I></B>
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-14
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV>
</DIV>

<DIV style="font-size: 2pt; margin-left: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="center" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Ioannis E. Lazaridis</I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>[Signature Page to Support Agreement]</I></B>
</DIV>
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    <BR>
    A-15
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Gerasimos
    G. Kalogiratos</DIV>
</DIV>

<DIV style="font-size: 2pt; margin-left: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="center" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Gerasimos G. Kalogiratos</I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>[Signature Page to Support Agreement]</I></B>
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-16
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>CRUDE CARRIERS INVESTMENTS CORP.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Evangelos
    G. Bairactaris</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Evangelos G. Bairactaris
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Director
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>[Signature Page to Support Agreement]</I></B>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    A-17
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Schedule&#160;I</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SHAREHOLDER
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="57%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Existing Shares</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class B Shares</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Record<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Beneficial<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Record<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Beneficial<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ownership</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ownership</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ownership</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ownership</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Crude Carriers Investments Corp.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,105,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Evangelos M. Marinakis
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    145,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    145,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Ioannis E. Lazaridis
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Gerasimos G. Kalogiratos
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
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    <BR>
    A-18
</DIV><!-- END PAGE WIDTH -->
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    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;B</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">AMENDED
    AND RESTATED ARTICLES&#160;OF INCORPORATION OF SURVIVING
    ENTITY</FONT></B>
</DIV>
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    <BR>
    B-1
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;B</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SECOND<BR>
    AMENDED AND RESTATED<BR>
    ARTICLES&#160;OF INCORPORATION<BR>
    OF<BR>
    CRUDE CARRIERS CORP.<BR>
    PURSUANT TO<BR>
    THE MARSHALL ISLANDS BUSINESS CORPORATIONS ACT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;I<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Name
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The name of the Corporation is Crude Carriers Corp. (the
    <B>&#147;Corporation&#148;</B> or, for purposes of
    Article&#160;VIII, <B>&#147;Crude Carriers&#148;</B>).
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;II<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Address;
    Registered Agent
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The address of the Corporation&#146;s registered office in the
    Republic of The Marshall Islands shall be Trust&#160;Company
    Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall
    Islands MH96960. The name of the Corporation&#146;s registered
    agent at such address shall be The Trust&#160;Company of the
    Marshall Islands, Inc.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;III<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Incorporator
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The name and mailing address of the sole incorporator of the
    Corporation is: Majuro Nominees Ltd., P.O.&#160;Box&#160;1405,
    Majuro, Marshall Islands.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;IV<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Purpose
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The purpose of the Corporation is to engage in any lawful act or
    activity for which corporations may now or hereafter be
    organized under the Marshall Islands Business Corporation Act
    (the <B>&#147;BCA&#148;</B> or the <B>&#147;Business
    Corporations Act&#148;</B>) and without limiting the foregoing
    the Corporation shall have every power which a corporation now
    or hereafter organized under the BCA may have.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;V<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Capital Stock
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Definitions</U>.</I>&#160;&#160;As
    used herein:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>&#147;Affiliate&#148;</I> shall mean, with respect
    to any Person, any other Person that, directly or indirectly,
    controls, is controlled by or is under common control with such
    person or is a director or officer of such Person, and for
    purposes of this definition, the term <B>&#147;control&#148;</B>
    (including the terms <B>&#147;controlling&#148;</B>,
    <B>&#147;controlled by&#148;</B> and <B>&#147;under common
    control with&#148;</B>) of a Person means the possession, direct
    or indirect, of the power to vote 10% or more of the voting
    stock or other form of equity interest of such Person or to
    direct or cause direction of the management and policies of such
    Person, whether through the ownership of voting stock or other
    form of equity interest, by contract or otherwise;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>&#147;Person&#148;</I> means an individual,
    partnership, corporation (including a business trust), limited
    liability company, joint stock company, trust, unincorporated
    association, joint venture or other entity, or a government or
    any political subdivision or agency thereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>&#147;Voting Power&#148;</I> shall mean, with
    respect to a class or series of capital stock or classes of
    capital stock, as the context may require, the aggregate number
    of votes that the holder(s) of such class or series
</DIV>
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    <BR>
    B-2
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of capital stock or classes of capital stock, or any relevant
    portion thereof, entitled to vote at a meeting, as the context
    may require;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>&#147;Voting Stock&#148;</I> shall mean, with
    respect to the Corporation, shares of any class or series of
    capital stock entitled to vote generally in the election of
    directors of the Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Authorized
    Capital Stock</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Corporation shall have authority to issue
    1,200,000,000&#160;shares of capital stock, of which
    (i)&#160;1,000,000,000&#160;shares shall be registered shares of
    common stock, par value $0.0001 per share (the <B>&#147;Common
    Stock&#148;</B>), (ii)&#160;100,000,000&#160;shares shall be
    registered shares of Class&#160;B Stock, par value $0.0001 per
    share (the <B>&#147;Class&#160;B Stock&#148;</B>), and
    (iii)&#160;100,000,000&#160;shares shall be registered shares of
    preferred stock, par value $0.0001 per share (the
    <B>&#147;Preferred Stock&#148;</B>); provided that Class&#160;B
    Stock converted into Common Stock pursuant to Section&#160;4(b),
    Section&#160;4(c) or Section&#160;4(d) below may not be reissued
    as Class&#160;B Stock. Registered shares may not be exchanged
    for bearer shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Except as may be otherwise required by law or by these
    Articles of Incorporation, the holders of Common Stock and
    Class&#160;B Stock shall vote together as a single class and
    their votes shall be counted and totaled together on all matters
    submitted to a vote of shareholders of the Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;In the event of any dissolution, liquidation or winding
    up of the affairs of the Corporation, whether voluntary or
    involuntary, after payment in full of the amounts, if any,
    required to be paid to the Corporation&#146;s creditors and the
    holders of Preferred Stock, the remaining assets and funds of
    the Corporation shall be distributed pro rata to the holders of
    Common Stock and Class&#160;B Stock, and the holders of Common
    Stock and the holders of Class&#160;B Stock shall be entitled to
    receive the same amount per share in respect thereof. For
    purposes of this Section&#160;2(c) of Article&#160;V, the
    voluntary sale, conveyance, lease, exchange or transfer (for
    cash, shares of stock, securities or other consideration) of all
    or substantially all of the assets of the Corporation or a
    consolidation or merger of the Corporation with or into one or
    more other corporations or entities (whether or not the
    Corporation is the corporation surviving such consolidation or
    merger) shall not be deemed to be a liquidation, dissolution or
    winding up of the affairs of the Corporation, voluntary or
    involuntary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Common
    Stock</U>.</I>&#160;&#160;At every meeting of the shareholders
    of the Corporation, each holder of Common Stock shall be
    entitled to one vote in person or by proxy for each share of
    Common Stock registered in such holder&#146;s name on the
    transfer books of the Corporation in connection with the
    election of directors and all other matters submitted to a vote
    of shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Class&#160;B
    Stock</U>.</I>&#160;&#160;The Board of Directors shall have the
    authority to issue shares of Class&#160;B Stock in one or more
    series. Each share of Class&#160;B Stock shall have identical
    designations, preferences, rights, qualifications, limitations
    and restrictions as a share of Common Stock except as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;at every meeting of the shareholders of the
    Corporation, each holder of Class&#160;B Stock, in person or by
    proxy, shall be entitled to ten (10)&#160;votes for each share
    of Class&#160;B Stock registered in such holder&#146;s name on
    the transfer books of the Corporation in connection with the
    election of directors and all other matters submitted to a vote
    of shareholders; <B>provided that </B>the Voting Power of the
    outstanding shares of Class&#160;B Stock shall be permanently
    limited to 49% of the Voting Power of the outstanding Common
    Stock and Class&#160;B Stock, voting together as a single class;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;if a share of Class&#160;B Stock is transferred to, or
    becomes, at any point in time, registered in the name of, any
    Person other than Crude Carriers Investments Corp., a Marshall
    Islands corporation (<B>&#147;CCIC&#148;</B>) or an Affiliate
    thereof, then such share shall irrevocably, immediately and
    automatically become a share of Common Stock;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;all shares of Class&#160;B Stock will automatically
    convert into shares of Common Stock if the aggregate number of
    shares of Common Stock and Class&#160;B Stock beneficially owned
    by CCIC and its affiliates falls below the number of
    Class&#160;B shares issued in connection with the Company&#146;s
    initial public offering, such number of shares to be adjusted
    for any subdivision or conversion of the Class&#160;B Stock;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;each share of Class&#160;B Stock shall be convertible
    irrevocably at any time into one share of Common Stock at the
    sole discretion of the holder thereof;&#160;and
</DIV>
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    <BR>
    B-3
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;any provision of these Articles of Incorporation for
    the voluntary, mandatory or other conversion of shares of
    Class&#160;B Stock into or for shares of Common Stock on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis shall be deemed not to adversely affect the rights of the
    Common Stock, and every reference in these Amended and Restated
    Articles of Incorporation to a majority or other proportion of
    the votes of shares of Common Stock or Class&#160;B Stock shall
    refer to such majority or other proportion of the votes to which
    such shares of Common Stock or Class&#160;B Stock are entitled.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Preferred
    Stock</U>.</I>&#160;&#160;The Board of Directors shall have the
    authority to establish preferred shares in one or more series
    and with such designations, preferences and relative, voting,
    participating, optional or special rights and qualifications,
    limitations or restrictions as shall be stated in the
    resolutions providing for the issue of such preferred shares.
    The powers, preferences and relative, participating, optional
    and other special rights of each series of Preferred Stock, and
    the qualifications, limitations or restrictions thereof, if any,
    may differ from those of any and all other series at any time
    outstanding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Preemptive
    Rights</U>.</I>&#160;&#160;Holders of the Corporation&#146;s
    Common Stock shall have no conversion, redemption or preemptive
    rights to subscribe to any of the Corporation&#146;s securities.
    Holders of the Corporation&#146;s Class&#160;B Stock shall have
    preemptive rights to subscribe to the issuance of any of the
    Company&#146;s Class&#160;B Stock.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VI<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Directors
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Board
    of Directors</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The business and affairs of the Corporation shall be
    managed by or under the direction of the Board of Directors (the
    <B>&#147;Board&#148;</B>).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The exact number of directors comprising the entire
    Board shall be not less than three nor more than twelve (subject
    to any rights of the holders of Preferred Stock to elect
    additional directors under specified circumstances) as
    determined from time to time by resolution adopted by the
    affirmative vote of a majority of the members of the Board then
    in office. The shareholders of the Corporation may change the
    number of directors if and only if 80% of the Voting Power of
    the aggregate Voting Stock affirmatively elects to do so;
    provided that such election must specify a number of directors
    between three and twelve.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Directors shall be elected by a plurality of the votes
    cast at a meeting of shareholders by the holders Voting Stock.
    Cumulative voting, as defined in Section&#160;71(2) of the BCA,
    shall not be used to elect directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Classification;
    Election; Vacancies; Removal</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Board of Directors shall be divided into three
    classes, as nearly equal in number as the then total number of
    directors constituting the entire Board permits, with the term
    of office of each of the three classes expiring successively
    each year, with the term of office of the first class to expire
    at the third annual meeting of shareholders, the term of office
    of the second class to expire at the second annual meeting of
    shareholders, and the term of office of the third class to
    expire at the first annual meeting of shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Commencing with the first annual meeting of
    shareholders, the directors elected at an annual meeting of
    shareholders to succeed those whose terms then expire shall be
    identified as being directors of the same class as the directors
    whom they succeed, and each of them shall hold office until the
    third succeeding annual meeting of shareholders and until such
    director&#146;s successor is elected and has qualified.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Any vacancies in the Board of Directors for any reason,
    and any created directorships resulting from any increase in the
    number of directors, may be filled by the vote of not less than
    a majority of the members of the Board then in office, although
    less than a quorum, or by a sole remaining director, and any
    directors so chosen shall hold office until the next election of
    the class for which such directors shall have been chosen and
    until their successors shall be elected and qualified. No
    decrease in the number of directors shall shorten the term of
    any incumbent director. Notwithstanding the foregoing, and
    except as otherwise required by law, whenever the holders of any
    one or more series of preferred stock shall have the right,
    voting separately as a class, to elect one or more directors of
    the Corporation, the then authorized number of directors shall
    be
</DIV>
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    <BR>
    B-4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    increased by the number of directors so to be elected, and the
    terms of the director or directors elected by such holders shall
    expire at the next succeeding annual meeting of shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Any director or the entire Board of Directors of the
    Corporation may be removed at any time, but only for cause and
    only by the affirmative vote of the holders of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the Voting Power of the Voting Stock at a meeting of the
    shareholders called for that purpose. Notwithstanding the
    foregoing, whenever the holders of any one or more series of
    Preferred Stock shall have the right, voting separately as a
    class, to elect one or more directors of the Corporation, the
    provisions of this subsection&#160;(d) shall not apply with
    respect to the director or directors elected by such holders of
    Preferred Stock and such director(s) shall be removed only
    pursuant to the provisions contained in the resolution(s) of the
    Board providing for the establishment of any such series of
    Preferred Stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Limitation
    on Director Liability</U>.</I>&#160;&#160;To the fullest extent
    that the BCA or any other law of the Republic of The Marshall
    Islands as it exists or as it may hereafter be amended permits
    the limitation or elimination of the liability of directors, no
    director of the Corporation shall be liable to the Corporation
    or its shareholders for monetary damages for actions taken in
    their capacity as director or officer of the Corporation,
    <B>provided that </B>such provision shall not eliminate or limit
    the liability of a director (i)&#160;for any breach of such
    director&#146;s duty of loyalty to the Corporation or its
    shareholders, (ii)&#160;for acts or omissions not undertaken in
    good faith or which involve intentional misconduct or a knowing
    violation of law or (iii)&#160;for any transactions from which
    such director derived an improper personal benefit. No amendment
    to or repeal of this Section&#160;3 of this Article&#160;VI
    shall apply to or have any effect on the liability or alleged
    liability of any director of the Corporation for or with respect
    to any acts or omissions of such director occurring prior to
    such amendment or repeal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Amendments
    to this Article</U>.</I>&#160;&#160;Notwithstanding any other
    provisions of these Amended and Restated Articles of
    Incorporation or the Bylaws of the Corporation to the contrary
    (and notwithstanding the fact that some lesser percentage may be
    specified by law), the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of Voting Power of the Voting Stock shall be required to amend,
    alter, change or repeal this Article&#160;VI.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Shareholder
    Meetings
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Meetings
    Generally</U>.</I>&#160;&#160;Meetings of shareholders may be
    held within or without the Republic of The Marshall Islands, as
    the Bylaws of the Corporation may provide. The books of the
    Corporation may be kept (subject to any provision of Marshall
    Islands law) outside the Republic of The Marshall Islands at
    such place or places as may be designated from time to time by
    the Board or in the Bylaws of the Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Special
    Meetings</U>.</I>&#160;&#160;Special meetings of the
    shareholders shall be called only upon the request of a majority
    of the Board. Special meetings of the shareholders may be held
    at such time and place as may be stated in the notice of meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Amendments
    to this Article</U>.</I>&#160;&#160;Notwithstanding any other
    provisions of these Amended and Restated Articles of
    Incorporation or the Bylaws of the Corporation to the contrary
    (and notwithstanding the fact that some lesser percentage may be
    specified by law), the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of Voting Power of the Voting Stock shall be required to amend,
    alter, change or repeal this Article&#160;VII.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Quorum
    at Adjourned Meetings</U>.</I>&#160;&#160;In the event that a
    quorum does not exist at a shareholder meeting with respect to
    any vote to be taken by a particular class or series, the
    holders of a majority of the votes entitled to be cast by the
    shareholders of such class or series who are present in person
    or by proxy may adjourn the meeting with respect to the vote(s)
    to be taken by such class or series. At any such adjourned
    meeting, the holders of one-third or more of the total Voting
    Power of the outstanding capital stock of the Corporation
    entitled to vote at a meeting of the shareholders, present in
    person or represented by proxy, shall represent a quorum for the
    transaction of business.
</DIV>
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    <BR>
    B-5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VIII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Bylaws
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Directors of the Corporation is expressly
    authorized to make, alter or repeal any bylaw of the Corporation
    by a vote of not less than a majority of the members of the
    Board then in office, and the shareholders may not make
    additional bylaws and may not alter or repeal any bylaw except
    by the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the aggregate Voting Power of the Voting Stock.
    Notwithstanding any other provisions of these Amended and
    Restated Articles of Incorporation or the Bylaws of the
    Corporation to the contrary (and notwithstanding the fact that
    some lesser percentage may be specified by the Business
    Corporations Act), the affirmative vote of not less than
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the aggregate Voting Power of the Voting Stock shall be
    required to amend, alter, change or repeal this
    Article&#160;VIII.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;IX<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Business
    Opportunities of the Corporation
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Definitions</U>.</I>&#160;&#160;For
    purposes of this Article&#160;IX only:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;<I>&#147;Bareboat Charter Agreement&#148;</I> means a
    contract to charter a tanker vessel of the type then owned or
    controlled by the Corporation for an agreed period of time at a
    set rate per day under which all voyage related costs, such as
    fuel and port dues, and all operating expenses, including
    maintenance, crewing and insurance, are for the charterer&#146;s
    account.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;<I>&#147;Bareboat Charter Opportunity&#148;</I> means a
    potential opportunity to enter into a Bareboat Charter Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;<I>&#147;Business Opportunity&#148;</I> means a Spot
    Charter Opportunity, a Period Charter Opportunity, a Bareboat
    Charter Opportunity, a Vessel Acquisition Opportunity or any
    other business opportunity that the Corporation would reasonably
    be expected to be capable of pursuing, but excluding the
    opportunity to enter a tanker vessel into a tanker pool.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;<I>&#147;Corporation&#148;</I> means the Corporation
    and all Persons in which the Corporation beneficially owns
    (directly or indirectly) 50% or more of the outstanding voting
    stock, voting power, partnership interests or similar voting
    interests.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;<I>&#147;Capital Maritime&#148;</I> means Capital
    Maritime&#160;&#038; Trading Corp., a Marshall Islands
    corporation, and all Persons (other than the Corporation, as
    defined in accordance with clause&#160;(d) of this
    Section&#160;1 of this Article&#160;IX)&#160;in which Capital
    Maritime beneficially owns (directly or indirectly) 50% or more
    of the outstanding Voting Stock, Voting Power, partnership
    interests or similar voting interests or (ii)&#160;which
    otherwise are Affiliates of Capital Maritime.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;<I>&#147;Capital Maritime Entity&#148;</I> means
    Capital Maritime, its officers and directors and any Person
    controlled, directly or indirectly, by Capital Maritime,
    including, without limitation, Capital Ship Management Corp.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;<I>&#147;Manager&#148;</I> means the manager of the
    Corporation&#146;s fleet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;<I>&#147;Opportunity Period&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    with respect to a Period Charter Opportunity or Bareboat Charter
    Opportunity, 48&#160;hours from the time a Capital Maritime
    Entity notifies Crude Carriers of such Period Charter
    Opportunity or Bareboat Charter Opportunity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    with respect to a Spot Charter Opportunity, a reasonable period
    of time in light of the circumstances (including without
    limitation the time period the Spot Charter Opportunity is
    expected to be available) from the time a Capital Maritime
    Entity informs Crude Carriers of such Spot Charter Opportunity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    with respect to a Vessel Acquisition Opportunity, 120&#160;hours
    from the time a Capital Maritime Entity notifies Crude Carriers
    of such Vessel Acquisition Opportunity, unless Crude Carriers
    notifies Capital Maritime that it wishes to extend the
    Opportunity Period for such Vessel Acquisition Opportunity, in
    which case the Opportunity Period for such Vessel Acquisition
</TD>
</TR>
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    <BR>
    B-6
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    Opportunity shall be 192&#160;hours from the time a Capital
    Maritime Entity notifies Crude Carriers of such Vessel
    Acquisition Opportunity;&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="2%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    with respect to any other Business Opportunity, 120&#160;hours
    from the time a Capital Maritime Entity notifies Crude Carriers
    of such Business Opportunity.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;<I>&#147;Period Charter Agreement&#148;</I> means a
    contract to charter a tanker vessel of the type then owned or
    controlled by the Corporation for an agreed period of time in
    excess of three months at a set rate per day under which the
    charterer pays for the vessel&#146;s voyage expenses, such as
    fuel and port dues, and the owner is responsible for providing
    crew and paying operating expenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;<I>&#147;Period Charter Opportunity&#148;</I> means a
    potential opportunity to enter into a Period Charter Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;<I>&#147;Spot Charter Agreement&#148;</I> means a
    contract to charter a tanker vessel of the type then owned or
    controlled by the Corporation for an agreed period of time of up
    to three months at a set rate per day under which the vessel
    operator pays for the vessel&#146;s voyage expenses, such as
    fuel and port dues, and the owner is responsible for providing
    crew and paying operating expenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;<I>&#147;Spot Charter Opportunity&#148;</I> means a
    potential opportunity to enter into a Spot Charter Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (m)&#160;<I>&#147;Vessel Acquisition Opportunity&#148;</I> means
    a potential opportunity to acquire a crude tanker vessel.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>General</U>.</I>&#160;&#160;This
    Article&#160;IX anticipates the possibility that
    (a)&#160;Capital Maritime may be a majority or significant
    shareholder of the Corporation, (b)&#160;certain officers
    <FONT style="white-space: nowrap">and/or</FONT>
    directors of the Corporation may also serve as officers
    <FONT style="white-space: nowrap">and/or</FONT>
    directors of Capital Maritime, (c)&#160;the Corporation and
    Capital Maritime, either directly or through their subsidiaries,
    may engage in the same or similar activities or lines of
    business and have an interest in the same areas of corporate
    opportunities, and (d)&#160;benefits may be derived by the
    Corporation through its continued contractual, corporate and
    business relationships with Capital Maritime. The provisions of
    this Article&#160;IX shall, to the fullest extent permitted by
    law, define the conduct of certain affairs of the Corporation
    and its subsidiaries as they may involve Capital Maritime, and
    their respective officers, directors, agents and employees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Business
    Opportunities</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Except as may be otherwise provided in a written
    agreement between the Corporation and Capital Maritime, Capital
    Maritime shall have the right to engage (and shall have no duty
    to refrain from engaging) in the same or similar activities or
    lines of business as the Corporation, and the Corporation shall
    not be deemed to have an interest or expectancy in any Business
    Opportunity in which Capital Maritime engages or seeks to engage
    merely because the Corporation engages in the same or similar
    activities or lines of business as that involved in or
    implicated by such Business Opportunity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;If Capital Maritime (or another Capital Maritime
    Entity) becomes aware of a Business Opportunity, whether through
    an officer or director shared with the Corporation or otherwise,
    then Capital Maritime shall inform (or cause the relevant
    Capital Maritime Entity to inform) the Corporation of such
    Business Opportunity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Capital Maritime shall refrain, and shall cause all
    other Capital Maritime Entities to refrain, from pursuing or
    acquiring such Business Opportunity from the date a Capital
    Maritime Entity becomes aware of such Business Opportunity until
    the Corporation has been notified of the Business Opportunity
    and the earlier of (i)&#160;the time the Opportunity Period for
    such Business Opportunity has lapsed without the Corporation
    informing the applicable Capital Maritime Entity that it elects
    to pursue or acquire the applicable Business Opportunity and
    (ii)&#160;the time the Corporation informs a Capital Maritime
    Entity that it does not intend to pursue such Business
    Opportunity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;After being informed of a Business Opportunity, the
    Corporation shall inform the Capital Maritime Entity that
    provided such notice, as promptly as practicable, of its
    election to (i)&#160;pursue or acquire such Business
    Opportunity, (ii)&#160;direct such Business Opportunity to
    another Person, or (iii)&#160;refrain from doing the foregoing.
</DIV>
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    <BR>
    B-7
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    (e)&#160;If the Corporation elects, within the Opportunity
    Period, to pursue or acquire such Business Opportunity or to
    direct such Business Opportunity to another Person, then Capital
    Maritime shall refrain, and shall cause all other Capital
    Maritime Entities to refrain, from pursuing or acquiring such
    Business Opportunity until such time as the Corporation abandons
    its pursuit of such Business Opportunity. If the Corporation
    does not elect, within the Opportunity Period, to pursue or
    acquire such Business Opportunity or to direct such Business
    Opportunity to another Person, then any Capital Maritime Entity
    may pursue or acquire such Business Opportunity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Notwithstanding the foregoing: (i)&#160;if the
    Corporation notifies a Capital Maritime Entity that it will not
    pursue or acquire a particular Business Opportunity or direct
    such Business Opportunity to another Person, thereafter any
    Capital Maritime Entity may pursue or acquire such Business
    Opportunity; and (ii)&#160;the Capital Maritime Entities shall
    not be restricted in any way in pursuing business opportunities
    that are not Business Opportunities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Termination;
    survival</U>.</I>&#160;&#160;Anything in these Amended and
    Restated Articles of Incorporation to the contrary
    notwithstanding, this Article&#160;IX shall automatically
    terminate, expire and have no further force and effect on the
    date that the Business Opportunities Agreement between the
    Corporation and Capital Maritime (as it may be amended from time
    to time) is terminated in accordance with its terms. No addition
    to, alteration of or termination of this Article&#160;IX or any
    other provision of these Amended and Restated Articles of
    Incorporation shall eliminate or impair the effect of this
    Article&#160;IX on any act, omission, right or liability that
    occurred prior thereto.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;X<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Amendment of
    Articles
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as otherwise provided in these Amended Articles of
    Incorporation, the affirmative vote of more than 50% of the
    Voting Power of the Voting Stock shall be required to amend,
    alter, change or repeal these Articles of Incorporation.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;XI<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Corporate
    Existence
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Corporate existence began on October&#160;29, 2009.
</DIV>
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    <BR>
    B-8
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;C</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">AMENDED
    AND RESTATED BYLAWS OF SURVIVING ENTITY</FONT></B>
</DIV>
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    <BR>
    C-1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;C</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SECOND<BR>
    AMENDED AND RESTATED BYLAWS<BR>
    OF<BR>
    CRUDE CARRIERS CORP.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;I<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Offices and
    Agent
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Registered
    Office and Agent</U>.</I>&#160;&#160;The address of the
    registered office of Crude Carriers Corp. (the
    <B>&#147;Corporation&#148;</B>) in the Republic of The Marshall
    Islands is Trust&#160;Company Complex, Ajeltake Road, Ajeltake
    Island, Majuro, Marshall Islands MH96960. The name of its
    registered agent at such address is The Trust&#160;Company of
    the Marshall Islands, Inc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Other
    Offices</U>.</I>&#160;&#160;The Corporation may also have
    offices at other places, either within or without the Republic
    of The Marshall Islands, as the Board of Directors of the
    Corporation (the <B>&#147;Board&#148;</B>) may from time to time
    determine or as the business of the Corporation shall require.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;II<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Meetings of
    Shareholders
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Place
    of Meetings</U>.</I>&#160;&#160;Meetings of the shareholders for
    the election of directors or for any other purpose shall be held
    at such place, if any, either within or without the Republic of
    The Marshall Islands, as shall be designated from time to time
    by the Board and stated in the notice of meeting or in a duly
    executed waiver of notice thereof. Adjournments of meetings may
    be held at the place at which the meeting adjourned was being
    held, or at any other place determined by the Board, whether or
    not a quorum shall have been present at such adjourned meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Annual
    Meetings</U>.</I>&#160;&#160;To the extent required by
    applicable law or the Second Amended and Restated Articles of
    Incorporation of the Corporation (hereinafter the
    <B>&#147;Articles of Incorporation&#148;</B>), an annual meeting
    of the shareholders for the election of directors and the
    transaction of such other business as may properly come before
    the meeting shall be held at such time and on such date as shall
    be determined by the Board and stated in the notice of the
    meeting. If the Corporation fails to hold an annual meeting
    within 90&#160;days of the date designated by the Board for such
    meeting, a special meeting in lieu of an annual meeting may be
    called by shareholders holding not less than ten percent of the
    Voting Power (as such term is defined in the Articles of
    Incorporation) of all outstanding shares entitled to vote at
    such meeting. The directors of the Corporation shall be entitled
    to receive notice of and to attend and be heard at any meeting
    of the shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Special
    Meetings</U>.</I>&#160;&#160;Other than a special meeting in
    lieu of an annual meeting and except as otherwise provided by
    applicable law, special meetings of the shareholders shall be
    called only by the Chairman of the Board or Chief Executive
    Officer, in either case at the direction of the Board as set
    forth in a resolution stating the purpose or purposes thereof
    approved by a majority of the entire Board. Only such business
    as is specified in the notice of any special meeting of the
    shareholders shall come before such meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Notice
    of Meetings</U>.</I>&#160;&#160;Except as otherwise provided by
    applicable law, notice of each meeting of the shareholders,
    whether annual or special, shall be given not less than
    15&#160;days nor more than 60&#160;days before the date of the
    meeting to each shareholder of record entitled to notice of the
    meeting. If mailed, such notice shall be deemed given when
    deposited in the mail, postage prepaid, directed to the
    shareholder at such shareholder&#146;s address as it appears on
    the records of the Corporation or, if such shareholder shall
    have filed with the Corporation&#146;s Secretary a written
    request that notices be sent to some other address, then
    directed to such shareholder at such other address. Each such
    notice shall state the place, date and hour of the meeting and,
    in the case of a special meeting, the purpose or purposes for
    which the meeting is called and by whose direction the notice of
    the meeting is being issued. Notice of any meeting of the
    shareholders shall not be required to be given to any
    shareholder who shall waive notice thereof as provided in
    Section&#160;4 of Article&#160;VIII
</DIV>
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    <BR>
    C-2
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of these Bylaws. Notice of adjournment of a meeting of the
    shareholders need not be given if the time and place to which it
    is adjourned are announced at such meeting, unless the
    adjournment is for lack of quorum or for a period of more than
    30&#160;days or, after adjournment, a new record date is fixed
    for the adjourned meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Quorum;
    Adjournment</U>.</I>&#160;&#160;Except as otherwise provided by
    applicable law or by the Articles of Incorporation, the holders
    of a majority in total Voting Power of the outstanding capital
    stock of the Corporation entitled to vote at a meeting of the
    shareholders, present in person or represented by proxy, shall
    constitute a quorum for the transaction of business at any
    annual or special meeting of the shareholders; <B>provided that
    </B>where a separate vote by a class or series of capital stock
    is required, the holders of a majority in total Voting Power of
    the outstanding capital stock of such class or series, present
    in person or represented by proxy, shall constitute a quorum
    entitled to take action with respect to such vote on such
    matter. The Chairman of the meeting or the holders of a majority
    of the votes entitled to be cast by the shareholders who are
    present in person or by proxy may adjourn the meeting from time
    to time whether or not a quorum is present. In the event that a
    quorum does not exist with respect to any vote to be taken by a
    particular class or series, the holders of a majority of the
    votes entitled to be cast by the shareholders of such class or
    series who are present in person or by proxy may adjourn the
    meeting with respect to the vote(s) to be taken by such class or
    series. At any such adjourned meeting, (a)&#160;the holders of
    one-third or more of the total Voting Power of the outstanding
    capital stock of the Corporation entitled to vote at a meeting
    of the shareholders, present in person or represented by proxy,
    shall constitute a quorum for the transaction of business, and
    (b)&#160;any business may be transacted which might have been
    transacted at the meeting as originally called. If the
    adjournment is for more than 30&#160;days, or if after the
    adjournment a new record date is fixed for the adjourned
    meeting, a notice of the adjourned meeting shall be given to
    each shareholder entitled to vote at the meeting not less than
    15 nor more than 60&#160;days before the date of the meeting,
    unless a different period is prescribed by applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Proxies</U>.</I>&#160;&#160;Any
    shareholder entitled to vote at a meeting of the shareholders
    may do so in person or by proxy appointed by such shareholder or
    by such shareholder&#146;s attorney thereto authorized, and
    bearing a date not more than 11&#160;months from the date on
    which such proxy was executed, unless such instrument provides
    for a longer period. All proxies must be filed with the
    Secretary of the Corporation at the beginning of the applicable
    meeting in order to be counted in any vote at such meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.&#160;&#160;</FONT><I><U>Voting</U>.</I>&#160;&#160;Except
    as otherwise provided by the Articles of Incorporation, these
    Bylaws, the rules or regulations of any stock exchange
    applicable to the Corporation or its securities or applicable
    law, and except for the election of directors, any question
    brought before any meeting of the shareholders at which a quorum
    is present shall be decided by the affirmative vote of the
    holders of a majority of the total number of votes of the
    capital stock present in person or represented by proxy and
    entitled to vote on the applicable subject matter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;8.&#160;&#160;</FONT><I><U>Organization;
    Order of Business</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;At every meeting of shareholders, the Chairman of the
    Board, or in such person&#146;s absence, the Chief Executive
    Officer, or in the absence of both of them, the Chief Financial
    Officer or any Vice President, shall act as Chairman of the
    meeting. In the absence of the Chairman of the Board, the Chief
    Executive Officer, the Chief Financial Officer and each Vice
    President, the Board, or, if the Board fails to act, the
    shareholders, may appoint any shareholder, director or officer
    of the Corporation to act as Chairman of any meeting. The
    Secretary of the Corporation shall act as Secretary of the
    meeting, but in the absence of the Secretary, the Chairman of
    the meeting may appoint any person to act as Secretary of the
    meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Only such business shall be conducted at a special
    meeting of shareholders as shall have been brought before the
    meeting pursuant to the Corporation&#146;s notice of meeting.
    Nominations of persons for election to the Board may be made at
    a special meeting of shareholders at which directors are to be
    elected pursuant to the notice of meeting (i)&#160;by or at the
    direction of the Board or (ii)&#160;provided that the Board has
    determined that directors shall be elected at such meeting, by
    any shareholder who is entitled to vote at the meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Except as otherwise provided in the Articles of
    Incorporation, only such persons who are nominated in accordance
    with this Section&#160;8 shall be eligible to serve as directors
    of the Corporation and only such business shall be conducted at
    a meeting of shareholders as shall have been brought before the
    meeting in
</DIV>
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    <BR>
    C-3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    accordance with the procedures set forth in this Section&#160;8.
    The Chairman of a meeting shall refuse to permit any business to
    be brought before the meeting which fails to comply with the
    foregoing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.&#160;&#160;</FONT><I><U>Voting
    List</U>.</I>&#160;&#160;The officer of the Corporation who has
    charge of the stock ledger of the Corporation shall prepare and
    make, at least ten days before every meeting of the
    shareholders, a complete list of the registered shareholders, as
    of the record date, entitled to vote at the meeting, arranged in
    alphabetical order, and showing the address of each such
    shareholder and the number of shares registered in the name of
    each such shareholder. Such list shall be open to the
    examination of any shareholder, for any purpose germane to the
    meeting, during ordinary business hours, for a period of at
    least ten days prior to the meeting as required by applicable
    law. The list shall also be produced and kept at the time and
    place of the meeting during the whole time thereof and may be
    inspected by any shareholder of the Corporation who is present.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;10.&#160;&#160;</FONT><I><U>Stock
    Ledger</U>.</I>&#160;&#160;The stock ledger of the Corporation
    shall be the only evidence as to the identity of the
    shareholders entitled to examine the list required by
    Section&#160;9 of this Article&#160;II or to vote in person or
    by proxy at any meeting of shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;11.&#160;&#160;</FONT><I><U>Record
    Date</U>.</I>&#160;&#160;In order that the Corporation may
    determine the shareholders entitled to (i)&#160;notice of or
    vote at any meeting of the shareholders or any adjournment
    thereof, (ii)&#160;express consent to corporate action by
    written consent without a meeting unless otherwise provided in
    the Articles of Incorporation, (iii)&#160;receive payment of any
    dividend or other distribution or allotment of any rights, or
    exercise any rights in respect of any change, conversion or
    exchange of stock, or (iv)&#160;undertake any other lawful
    action, the Board may fix a record date, which shall not precede
    the date upon which the resolution fixing the record date is
    adopted by the Board and which record date shall, unless
    otherwise required by law, not be, (a)&#160;in the case of
    clause&#160;(i) or (ii)&#160;above, more than 60 nor less than
    15&#160;days before the date of such meeting or the date on
    which such action by written consent is required to occur, and
    (b)&#160;in the case of clauses&#160;(iii) and (iv)&#160;above,
    more than 60&#160;days prior to such action. If no record date
    is fixed, (a)&#160;the record date for determining shareholders
    entitled to notice of or to vote at a meeting of the
    shareholders shall be at the close of business on the day next
    preceding the day on which notice is given, or if notice is
    waived, at the close of business on the day next preceding the
    day on which the meeting is held; (b)&#160;the record date for
    determining shareholders entitled to express consent to
    corporate action in writing without a meeting (unless otherwise
    provided in the Articles of Incorporation), when no prior action
    by the Board is required under the Marshall Islands Business
    Corporations Act (the &#147;Business Corporations Act&#148;),
    shall be the first day on which a signed written consent setting
    forth the action taken or proposed to be taken is delivered to
    the Corporation by delivery to its registered office in the
    Republic of The Marshall Islands, its principal place of
    business or an officer or agent of the Corporation having
    custody of the book in which proceedings of meetings of
    shareholders are recorded; and when prior action by the Board is
    required under the Business Corporations Act, the record date
    for determining shareholders entitled to consent to corporate
    action in writing without a meeting shall be at the close of
    business on the date on which the Board adopts the resolution
    taking such prior action; and (c)&#160;the record date for
    determining shareholders for any other purpose shall be at the
    close of business on the day on which the Board adopts the
    resolution relating thereto. A determination of shareholders of
    record entitled to notice of or to vote at a meeting of the
    shareholders shall apply to any adjournment of the meeting;
    provided, however, that the Board may fix a new record date for
    the adjourned meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;12.&#160;&#160;</FONT><I><U>Inspectors
    of Election</U>.</I>&#160;&#160;The Corporation may, and at the
    request of any shareholder or if required by law shall, before
    or at each meeting of shareholders, appoint one or more
    inspectors of elections to act at the meeting and make a written
    report thereof. The Corporation may designate one or more
    persons as alternate inspectors to replace any inspector who
    fails to act. If no inspector or alternate is able to act at a
    meeting of the shareholders, the Chairman of the meeting may,
    and at the request of any shareholder or if required by law
    shall, appoint one or more inspectors to act at the meeting.
    Unless otherwise required by law, inspectors may be officers,
    employees or agents of the Corporation. Each inspector, before
    entering upon the discharge of his or her duties, shall take and
    sign an oath to execute faithfully the duties of inspector with
    strict impartiality and according to the best of his or her
    ability. The inspector or inspectors so appointed or designated
    shall (i)&#160;ascertain the number of outstanding shares of
    capital stock of the Corporation and the Voting Power of each
    such share, (ii)&#160;determine the shares of capital stock of
    the Corporation represented at the meeting and the validity of
    proxies and ballots, (iii)&#160;count all votes and ballots,
    (iv)&#160;determine and retain for a reasonable period a record
    of the disposition of any challenges made to any determination
    by the
</DIV>
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    <BR>
    C-4
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    inspectors and (v)&#160;certify their determination of the
    number of shares of capital stock of the Corporation represented
    at the meeting and such inspectors&#146; count of all votes and
    ballots. Such certification and report shall specify such other
    information as may be required by law. In determining the
    validity and counting of proxies and ballots cast at any meeting
    of the shareholders of the Corporation, the inspectors may
    consider such information as is permitted by applicable law. No
    person who is a candidate for an office at an election may serve
    as an inspector at such election.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;III<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Board of
    Directors
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>General
    Powers</U>.</I>&#160;&#160;The business of the Corporation shall
    be managed by or under the direction of the Board. In addition
    to the powers and authority herein or by statute expressly
    conferred upon them, the directors are hereby empowered to
    exercise all such powers and do all such acts and things as may
    be exercised or done by the Corporation, subject, nevertheless,
    to the provisions of applicable law, the Articles of
    Incorporation and these Bylaws; <B>provided that </B>no Bylaws
    hereafter adopted by the shareholders shall invalidate any prior
    act of the directors which would have been valid if such Bylaws
    had not been adopted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Number
    of Directors</U>.</I>&#160;&#160;The number of directors of the
    Corporation shall not be less nor more than the range specified
    in the Articles of Incorporation, the exact number of directors
    to be such number as may be set from time to time by resolution
    adopted by affirmative vote of a majority of the entire Board.
    As used in these Bylaws, the term &#147;entire Board&#148; means
    the total number of directors that the Corporation would have if
    there were no vacancies or unfilled newly created directorships.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Election
    of Directors</U>.</I>&#160;&#160;Except as otherwise required by
    statute or by the Articles of Incorporation, directors shall be
    elected by a plurality of the votes cast at a meeting of
    shareholders by the holders of shares of the Corporation
    entitled to vote thereon, voting together as a single class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Resignations</U>.</I>&#160;&#160;Any
    director of the Corporation may resign at any time, by giving
    notice in writing or by electronic transmission to the Board,
    the Chairman of the Board, the Chief Executive Officer or the
    Secretary of the Corporation. Such resignation shall take effect
    after receipt of the applicable notice of resignation by the
    Board, the Chairman of the Board, the Chief Executive Officer or
    the Secretary of the Corporation at the time specified in such
    notice or, if no time is specified, immediately upon receipt of
    such notice by the Board, the Chairman of the Board, the Chief
    Executive Officer or the Secretary of the Corporation. Unless
    otherwise specified in such notice, the acceptance of such
    resignation shall not be necessary to make it effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Removal
    of Directors</U>.</I>&#160;&#160;Directors may only be removed
    as provided in the Articles of Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Newly
    Created Directorships and Vacancies</U>.</I>&#160;&#160;Newly
    created directorships resulting from any increase in the number
    of directors and any vacancies on the Board resulting from
    death, resignation, removal or other cause shall only be filled
    as provided in the Articles of Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.&#160;&#160;</FONT><I><U>Chairman
    of the Board</U>.</I>&#160;&#160;The directors shall elect one
    of their members to be Chairman of the Board. The Chairman of
    the Board, if present, shall preside at all meetings of the
    shareholders and of the Board. In addition, the Chairman of the
    Board shall perform such other duties as may from time to time
    be assigned by the Board. The Chairman of the Board may or may
    not be a senior officer of the Corporation. The Chairman of the
    Board shall be subject to the control of and may be removed from
    such office by the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;8.&#160;&#160;</FONT><I><U>Annual
    Meetings</U>.</I>&#160;&#160;The Board shall meet for the
    election of officers and the transaction of other business as
    soon as practicable after each annual meeting of the
    shareholders, and no notice of such meeting shall be necessary
    in order legally to constitute the meeting; <B>provided that
    </B>a quorum is present. Such meeting may be held at any other
    time or place specified in a notice given as hereinafter
    provided for regular meetings of the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.&#160;&#160;</FONT><I><U>Regular
    Meetings</U>.</I>&#160;&#160;The Board may hold meetings, both
    regular and special, either within or without the Republic of
    The Marshall Islands. Regular meetings of the Board may be held
    at such time and at such place as may from time to time be
    determined by the Board. The Secretary, or in his or her absence
    any
</DIV>
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    <BR>
    C-5
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    other officer of the Corporation, shall give each director
    notice of the time and place of holding of regular meetings of
    the Board by mail at least five days before the meeting, or by
    facsimile, telegram, cable, electronic transmission or personal
    service at least two days before the meeting, unless such notice
    requirement is waived in writing or by electronic transmission
    by such director.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;10.&#160;&#160;</FONT><I><U>Special
    Meetings</U>.</I>&#160;&#160;Special meetings of the Board may
    be called by the Chairman of the Board or the Chief Executive
    Officer, and shall be called by the Secretary of the Corporation
    upon the written request of not less than a majority of the
    members of the Board then in office. Special meetings of the
    Board shall be held at such time and place as shall be
    designated in the notice of the meeting. The Secretary, or in
    his or her absence any other officer of the Corporation, shall
    give each director notice of the time and place of holding of
    special meetings of the Board by mail at least five days before
    the meeting, or by facsimile, telegram, cable, electronic
    transmission or personal service at least two days before the
    meeting, unless such notice requirement is waived in writing or
    by electronic transmission by such director. Unless otherwise
    stated in the notice thereof, any and all business shall be
    transacted at any meeting without specification of such business
    in the notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;11.&#160;&#160;</FONT><I><U>Quorum</U>.</I>&#160;&#160;Except
    as otherwise required by applicable law, the Articles of
    Incorporation or these Bylaws, at all meetings of the Board, a
    majority of the entire Board shall constitute a quorum for the
    transaction of business. If a quorum shall not be present at any
    meeting of the Board, a majority of those present may adjourn
    the meeting from time to time, without notice other than
    announcement at the meeting of the time and place of the
    adjourned meeting, until a quorum shall be present.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;12.&#160;&#160;</FONT><I><U>Manner
    of Acting</U>.</I>&#160;&#160;Except as otherwise provided by
    applicable law, the Articles of Incorporation or these Bylaws,
    all matters presented to the Board (or a committee thereof)
    shall be approved by the affirmative vote of a majority of the
    directors present at any meeting of the Board (or such
    committee) at which there is a quorum (the foregoing is referred
    to herein as a &#147;simple majority&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;13.&#160;&#160;</FONT><I><U>Organization</U>.</I>&#160;&#160;Meetings
    shall be presided over by the Chairman of the Board, or in the
    absence of the Chairman of the Board, by such other person as
    the directors may select. The Board shall keep written minutes
    of its meetings. The Secretary of the Corporation shall act as
    Secretary of the meeting, but in the absence of the Secretary,
    the Chairman of the meeting may appoint any person to act as
    Secretary of the meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;14.&#160;&#160;</FONT><I><U>Action
    by Written Consent</U>.</I>&#160;&#160;Unless otherwise required
    by the Articles of Incorporation or these Bylaws, any action
    required or permitted to be taken at any meeting of the Board or
    of any committee thereof may be taken without a meeting, if all
    the members of the Board or committee, as the case may be,
    consent thereto in writing or by electronic transmission, and
    the writing or writings or such electronic transmission or
    transmissions are filed with the minutes of proceedings of the
    Board or committee thereof in accordance with applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;15.&#160;&#160;</FONT><I><U>Meetings
    by Electronic Means</U>.</I>&#160;&#160;Unless otherwise
    required by the Articles of Incorporation or these Bylaws,
    members of the Board, or any committee thereof, may participate
    in a meeting of the Board or such committee by means of a
    conference telephone or other communications equipment by means
    of which all persons participating in the meeting can hear each
    other. Participation in a meeting pursuant to this
    Section&#160;15 shall constitute presence in person at such
    meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;16.&#160;&#160;</FONT><I><U>Compensation</U>.</I>&#160;&#160;Each
    director, in consideration of such person serving as a director,
    shall be entitled to receive from the Corporation such amount
    per annum and such fees (payable in cash or stock-based
    compensation) for attendance at meetings of the Board or of
    committees of the Board, or both, as the Board shall from time
    to time determine. In addition, each director shall be entitled
    to receive from the Corporation reimbursement for the reasonable
    expenses incurred by such person in connection with the
    performance of such person&#146;s duties as a director. Nothing
    contained in this Section&#160;16 shall preclude any director
    from serving the Corporation or any of its subsidiaries in any
    other capacity and receiving compensation therefor.
</DIV>
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    <BR>
    C-6
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;IV<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Committees
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Constitution
    and Powers</U>.</I>&#160;&#160;Except as otherwise provided by
    applicable law, the Articles of Incorporation or these Bylaws,
    the Board may, by resolution of a simple majority of its
    members, designate one or more committees. Each committee shall
    consist of one or more directors of the Corporation. Except as
    provided by applicable law, the Articles of Incorporation or
    these Bylaws, the Board, by a simple majority vote of its
    members, shall have the right from time to time to delegate to
    or to remove from any Board committee the authority to approve
    any matters which would not otherwise require a higher vote than
    a simple majority vote of the Board. Except as required by
    applicable law, the Articles of Incorporation or these Bylaws,
    for those matters that require a higher vote of the Board than a
    simple majority vote, the Board, by such requisite higher vote,
    shall have the right from time to time to delegate to or to
    remove from any Board committee the authority to approve any
    such matters requiring such requisite higher vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Organization
    of Committees</U>.</I>&#160;&#160;The Board may designate one or
    more directors as alternate members of any committee, who may
    replace any absent or disqualified member at any meeting of such
    committee. In the absence or disqualification of a member of a
    committee, the member or members thereof present at any meeting
    and not disqualified from voting, whether or not they constitute
    a quorum, may unanimously appoint another member of the Board to
    act at the meeting in place of any such absent or disqualified
    member. Each committee that may be established by the Board may
    fix its own rules and procedures. All committees so appointed
    shall keep regular minutes of the transactions of their meetings
    and shall be responsible to the Board for the conduct of the
    enterprises and affairs entrusted to them. Notice of meetings of
    committees, other than of regular meetings provided for by such
    rules, shall be given to committee members.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;V<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Officers
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Officers</U>.</I>&#160;&#160;The
    Board may (or, to the extent required by applicable law, shall)
    elect a Chief Executive Officer, a Chief Financial Officer and a
    Secretary. The Chief Executive Officer may be or become a
    director. The Board may elect from time to time such other
    officers as, in the opinion of the Board, are desirable for the
    conduct of the business of the Corporation. Any two or more
    offices may be held by the same person; provided, however, that
    no officer shall execute, acknowledge or verify any instrument
    in more than one capacity if such instrument is required by law,
    the Articles of Incorporation or these Bylaws to be executed,
    acknowledged or verified by two or more officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Chief
    Executive Officer</U>.</I>&#160;&#160;The Chief Executive
    Officer shall have supervisory authority over the business,
    affairs and property of the Corporation, and over the activities
    of the executive officers of the Corporation. The Chief
    Executive Officer may enter into and execute in the name of the
    Corporation, powers of attorney, contracts, bonds and other
    obligations which implement policies established by the Board.
    The Chief Executive Officer shall have all authority incidental
    to the office of Chief Executive Officer, shall have such other
    authority and perform such other duties as may from time to time
    be assigned by the Board and shall report directly to the Board.
    If so elected by the Board, the Chairman of the Board may be the
    Chief Executive Officer. In the absence or inability to act of
    the Chief Executive Officer, the President shall perform the
    functions of the Chief Executive Officer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>President</U>.</I>&#160;&#160;The
    President, if elected, shall have general supervision of the
    daily business, affairs and property of the Corporation. He
    shall have all authority incidental to the office of President
    and shall have such other authority and perform such other
    duties as may from time to time be assigned by the Chief
    Executive Officer or the Board. In the absence or inability to
    act of the President, the Chief Executive Officer shall perform
    the functions of the President.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Chief
    Financial Officer</U>.</I>&#160;&#160;The Chief Financial
    Officer shall be the principal financial and accounting officer
    of the Corporation and shall have such powers and perform such
    duties as may from time to time be assigned by the Chief
    Executive Officer or the Board. Without limiting the generality
    of the foregoing, the Chief Financial Officer may sign and
    execute contracts and other obligations pertaining to the
</DIV>
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    <BR>
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    regular course of his or her duties which implement policies
    established by the Board. In the absence or inability to act of
    the Chief Financial Officer, the Treasurer shall perform the
    functions of the Chief Financial Officer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Secretary</U>.</I>&#160;&#160;The
    Secretary shall act as Secretary of all meetings of the
    shareholders and of the Board; shall keep the minutes thereof in
    the proper book or books to be provided for that purpose; shall
    see that all notices required to be given by the Corporation in
    connection with meetings of shareholders and of the Board are
    duly given; shall be the custodian of the seal of the
    Corporation and shall affix the seal or cause it or a facsimile
    thereof to be affixed to all certificates for stock of the
    Corporation and to all documents or instruments requiring the
    same, the execution of which on behalf of the Corporation is
    duly authorized in accordance with the provisions of these
    Bylaws; shall have charge of the stock records and also of the
    other books, records and papers of the Corporation relating to
    its organization and acts as a corporation, and shall see that
    the reports, statements and other documents related thereto
    required by law are properly kept and filed, all of which shall,
    at all reasonable times, be open to the examination of any
    director for a purpose reasonably related to such
    director&#146;s position as a director; and shall, in general,
    have all authority incident to the office of Secretary and such
    other authority and perform such other duties as may from time
    to time be assigned by the Chief Executive Officer or the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Vice
    Presidents</U>.</I>&#160;&#160;The Vice Presidents, if elected,
    shall have such powers and shall perform such duties as may from
    time to time be assigned to them by the Chief Executive Officer
    or the Board. Without limiting the generality of the foregoing,
    Vice Presidents may enter into and execute in the name of the
    Corporation contracts and other obligations pertaining to the
    regular course of their duties which implement policies
    established by the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;7.&#160;&#160;</FONT><I><U>Treasurer</U>.</I>&#160;&#160;If
    elected, the Treasurer shall, if required by the Chief Executive
    Officer or the Board, give a bond for the faithful discharge of
    duties, in such sum and with such sureties as may be so
    required. Unless the Board otherwise declares by resolution, the
    Treasurer shall have custody of, and be responsible for, all
    funds and securities of the Corporation; receive and give
    receipts for money due and payable to the Corporation from any
    source whatsoever; deposit all such money in the name of the
    Corporation in such banks, trust companies or other depositories
    as the Board may designate; against proper vouchers, cause such
    funds to be disbursed by check or draft on the authorized
    depositories of the Corporation signed in such manner as shall
    be determined by the Board, and be responsible for the accuracy
    of the amounts of all funds so disbursed; regularly enter or
    cause to be entered in books to be kept by the Treasurer or
    under the Treasurer&#146;s direction, full and adequate accounts
    of all money received and paid by the Treasurer for the account
    of the Corporation; render to the Board, any duly authorized
    committee of directors or the Chief Executive Officer, whenever
    they or any of them, respectively, shall require the Treasurer
    to do so, an account of the financial condition of the
    Corporation and of all transactions of the Treasurer; and, in
    general, have all authority incident to the office of Treasurer
    and such other authority and perform such other duties as may
    from time to time be assigned by the Chief Executive Officer or
    the Board. Any Assistant Treasurer shall, in the absence or
    disability of the Treasurer, perform the duties and exercise the
    powers of the Treasurer and shall have such other duties and
    have such other powers as the Board may from time to time
    prescribe. In the absence or inability to act of the Treasurer
    or Assistant Treasurer, the Chief Financial Officer shall
    perform the functions of the Treasurer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;8.&#160;&#160;</FONT><I><U>Assistant
    Treasurers, Assistant Controllers and Assistant
    Secretaries</U>.</I>&#160;&#160;Any Assistant Treasurers,
    Assistant Controllers and Assistant Secretaries, if elected,
    shall perform such duties as from time to time shall be assigned
    to them by the Chief Executive Officer or the Board or by the
    Treasurer, Controller or Secretary, respectively. An Assistant
    Treasurer, Assistant Controller or Assistant Secretary need not
    be an officer of the Corporation and shall not be deemed an
    officer of the Corporation unless elected by the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;9.&#160;&#160;</FONT><I><U>Removal</U>.</I>&#160;&#160;Any
    officer may be removed, either with or without cause, by the
    Board at any meeting thereof or by any superior officer upon
    whom such power may be conferred by the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;10.&#160;&#160;</FONT><I><U>Resignation</U>.</I>&#160;&#160;Any
    officer may resign at any time by giving notice to the Board,
    the Chairman of the Board, the Chief Executive Officer or the
    Secretary of the Corporation in writing or by electronic
    transmission. Any such resignation shall take effect at the time
    therein specified or if no time is
</DIV>
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    <BR>
    C-8
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    specified, immediately. Unless otherwise specified in such
    notice, the acceptance of such resignation shall not be
    necessary to make it effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;11.&#160;&#160;</FONT><I><U>Vacancies</U>.</I>&#160;&#160;A
    vacancy in any office because of death, resignation, removal,
    disqualification or any other cause may be filled at any time by
    the Board, or if such officer was appointed by the Chief
    Executive Officer, then by the Chief Executive Officer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;12.&#160;&#160;</FONT><I><U>Bank
    Accounts</U>.</I>&#160;&#160;In addition to such bank accounts
    as may be authorized in the usual manner by resolution of the
    Board, the President or the Treasurer, with approval of the
    Chief Executive Officer, may authorize such bank accounts to be
    opened or maintained in the name and on behalf of the
    Corporation as the Chief Executive Officer shall deem necessary
    or appropriate; <B>provided that </B>payments from such bank
    accounts are to be made upon and according to the check of the
    Corporation as shall be specified in the written instructions of
    the President or the Chief Financial Officer or the Treasurer or
    Assistant Treasurer of the Corporation with the approval of the
    Chief Executive Officer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;13.&#160;&#160;</FONT><I><U>Voting
    of Stock Held</U>.</I>&#160;&#160;Unless otherwise provided in
    the Articles of Incorporation or directed by the Board, the
    Chief Executive Officer may from time to time personally or by
    an attorney or attorneys or agent or agents of the Corporation,
    in the name and on behalf of the Corporation, cast the votes
    which the Corporation may be entitled to cast as a shareholder
    or otherwise in any other corporation, limited liability
    company, partnership, trust or legal entity
    (<B>&#147;Person&#148;</B>) any of the stock or securities of
    which may be held by the Corporation, at meetings of the holders
    of the stock or other securities of such Person, or consent in
    writing to any action by any such Person, and may instruct any
    person or persons so appointed as to the manner of casting such
    votes or giving such consent, and may execute or cause to be
    executed on behalf of the Corporation and under its corporate
    seal, or otherwise, such written proxies, consents, waivers or
    other instruments as the Secretary may deem necessary or proper
    in the premises; or may attend any meeting of the holders of
    stock or other securities of any such Person and thereat vote or
    exercise any or all other powers of the Corporation as the
    holder of such stock or other securities of such Person.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VI<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Capital Stock
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Capital
    Stock</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The capital stock of the Corporation may be
    uncertificated and ownership thereof shall be recorded
    (exclusively, in the case of uncertificated shares) on the books
    of the transfer agent or registrar for such capital stock, or,
    if there is no such transfer agent or registrar, on the books of
    the Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Every holder of capital stock of the Corporation
    represented by certificates (and upon request, any holder of
    uncertificated shares) shall be entitled to have a certificate
    signed, in the name of the Corporation (i)&#160;by the Chairman
    of the Board, the Chief Executive Officer, President or any of
    the Vice Presidents and (ii)&#160;by the Treasurer or an
    Assistant Treasurer, or the Secretary or an Assistant Secretary
    of the Corporation, certifying the number of shares owned by
    him, her or it in the Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Any or all signatures on the certificate may be a
    facsimile. In case an officer, transfer agent or registrar that
    has signed or whose facsimile signature has been placed upon a
    certificate shall have ceased to be such officer, transfer agent
    or registrar before such certificate is issued, it may be issued
    by the Corporation with the same effect as if he or she were
    such officer, transfer agent or registrar at the date of issue.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The Board may direct a new certificate to be issued in
    place of any certificate theretofore issued by the Corporation
    alleged to have been lost, stolen or destroyed, upon the making
    of an affidavit of the fact by the person claiming the
    certificate of stock to be lost, stolen or destroyed. When
    authorizing such issue of a new certificate the Board may, in
    its discretion and as a condition precedent to the issuance
    thereof, require the owner of such lost, stolen or destroyed
    certificate, or his or her legal representative, to advertise
    the same in such manner as the Board shall require
    <FONT style="white-space: nowrap">and/or</FONT> to
    give the Corporation a bond in such sum as it may direct as
    indemnity against any claim that may be made against the
    Corporation and its transfer agents and registrars with respect
    to the certificate alleged to have been lost, stolen or
    destroyed or the issuance of such new certificate.
</DIV>
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    <BR>
    C-9
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Transfers
    of stock</U>.</I>&#160;&#160;Transfers of stock shall be made on
    the books of the Corporation only by the person named in the
    certificate (or, if such stock is uncertificated, on the books
    of the transfer agent or registrar) or by such person&#146;s
    duly authorized attorney appointed by a power of attorney duly
    executed and filed with the Secretary of the Corporation or a
    transfer agent of the Corporation, and, if applicable, upon
    surrender of the certificate or certificates for such stock
    properly endorsed. Every certificate exchanged, returned or
    surrendered shall be marked &#147;Canceled&#148;, with the date
    of cancellation, by the Secretary or an Assistant Secretary of
    the Corporation or the transfer agent thereof. No transfer of
    stock shall be valid as against the Corporation, its
    shareholders or creditors for any purpose until it shall have
    been entered in the stock records of the Corporation by an entry
    showing from and to whom transferred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Transfer
    Agent and Registrar</U>.</I>&#160;&#160;The Board may appoint
    one or more transfer agents and one or more registrars and may
    require all certificates for shares to bear the manual or
    facsimile signature or signatures of any of them.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Beneficial
    Owners</U>.</I>&#160;&#160;The Corporation shall be entitled to
    recognize the exclusive right of a person registered on its
    books as the owner of shares to receive dividends, and to vote
    as such owner, and to hold liable for calls and assessments a
    person registered on its books as the owner of shares, and shall
    not be bound to recognize any equitable or other claim to or
    interest in such share or shares on the part of any other
    person, whether or not it shall have express or other notice
    thereof, except as otherwise required by law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Regulations</U>.</I>&#160;&#160;Except
    as otherwise provided by applicable law or in the Articles of
    Incorporation, the Board shall have the power and authority to
    make all such rules and regulations as it may deem expedient
    concerning the issue, transfer, registration, cancellation and
    replacement of certificates representing stock of the
    Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Dividends</U>.</I>&#160;&#160;Dividends
    upon the capital stock of the Corporation, subject to the
    provisions in the Articles of Incorporation, may be declared by
    the Board at any regular or special meeting, and may be paid in
    cash, in property or in securities of the Corporation. Before
    payment of any dividend, there may be set aside out of any funds
    of the Corporation available for dividends such sum or sums as
    the Board from time to time, in its absolute discretion, deems
    proper as a reserve or reserves to meet contingencies, or for
    purchasing any of the shares of capital stock, warrants, rights,
    options, bonds, debentures, notes, scrip or other securities or
    evidences of indebtedness of the Corporation, or for equalizing
    dividends, or for repairing or maintaining any property of the
    Corporation, or for any proper purpose, and the Board may modify
    or abolish any such reserve.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">Indemnification
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Directors&#146;
    Indemnification</U>.</I>&#160;&#160;The Corporation shall
    indemnify and hold harmless, to the fullest extent permitted by
    applicable law as it presently exists or may hereafter be
    amended, any person that was or is made or is threatened to be
    made a party or is otherwise involved in any action, suit or
    proceeding, whether civil, criminal, administrative, legislative
    or investigative (collectively, a
    <B>&#147;Proceeding&#148;</B>), by reason of the fact that such
    person is or was a director or officer of the Corporation or,
    while a director or officer of the Corporation, is or was
    serving at the request of the Corporation as a director,
    officer, employee or agent of another corporation or of a
    partnership, joint venture, trust, enterprise or nonprofit
    entity, including service with respect to employee benefit
    plans, against all liability and loss suffered and expenses
    (including attorneys&#146; fees) reasonably incurred by such
    person in connection with such proceeding or any claim made in
    connection therewith. Such right of indemnification shall inure
    whether or not the claim asserted is based on matters which
    antedate the adoption of this Section&#160;1 of
    Article&#160;VII. Subject to the second sentence of the next
    paragraph, the Corporation shall be required to indemnify or
    make advances to a person in connection with a Proceeding (or
    part thereof) initiated by such person only if the initiation of
    such Proceeding (or part thereof) was authorized by the Board or
    reasonably necessary to the effective defense of another
    Proceeding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Corporation shall pay the expenses (including
    attorneys&#146; fees) incurred by any person that is or was a
    director or officer of the Corporation or, while a director or
    officer of the Corporation, is or was serving at the request of
    the Corporation as a director, officer, employee or agent of
    another corporation or of a partnership,
</DIV>
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    <BR>
    C-10
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    joint venture, trust, enterprise or nonprofit entity, in
    defending any Proceeding in advance of its final disposition;
    <B>provided that </B>the payment of expenses incurred by such a
    person in defending any Proceeding in advance of its final
    disposition shall be made only upon receipt of an undertaking by
    such person to repay all amounts advanced if it should be
    ultimately determined that such person is not entitled to be
    indemnified under this Section&#160;1 of Article&#160;VII or
    otherwise. If a claim for indemnification after the final
    disposition of the Proceeding is not paid in full within 90
    calendar days after a written claim therefor has been received
    by the Corporation or if a claim for payment of expenses under
    this Section&#160;1 of Article&#160;VII is not paid in full
    within 20 calendar days after a written claim therefor has been
    received by the Corporation, the claimant may file suit to
    recover the unpaid amount of such claim and, if successful in
    whole or in part, shall be entitled to be paid the expense of
    prosecuting such claim.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rights conferred on any person by this Section&#160;1 of
    Article&#160;VII shall not be exclusive of any other rights
    which such person may have or hereafter acquire under any
    statute, the Articles of Incorporation, these Bylaws, agreement,
    vote of shareholders or resolution of disinterested directors or
    otherwise. The Corporation&#146;s obligation, if any, to
    indemnify any person that was or is serving at its request as a
    director, officer, employee or agent of another corporation,
    partnership, joint venture, trust, enterprise or nonprofit
    entity shall be reduced by any amount such person may collect as
    indemnification from such other corporation, partnership, joint
    venture, trust, enterprise or nonprofit entity, as applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment, modification or repeal of the foregoing
    provisions of this Section&#160;1 of Article&#160;VII shall not
    adversely affect any right or protection hereunder of any person
    in respect of any act or omission occurring prior to the time of
    such amendment, modification or repeal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Survival
    of Indemnification and Advancement of
    Expenses</U>.</I>&#160;&#160;The indemnification and advancement
    of expenses provided by or granted pursuant to this
    Article&#160;VII shall continue as to a person who has ceased to
    be a director, officer, employee or agent of the Corporation or
    other person indemnified hereunder and shall inure to the
    benefit of the successors, assigns, heirs, executors and
    administrators of such person.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">ARTICLE&#160;VIII<BR>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">General
    Provisions
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;1.&#160;&#160;</FONT><I><U>Books
    and Records</U>.</I>&#160;&#160;The books and records of the
    Corporation may be kept at such places within or without the
    Republic of The Marshall Islands as the Board may from time to
    time determine and may be kept on, or be in the form of, punch
    cards, magnetic tape, photographs, microphotographs or any other
    information storage device, provided that the records so kept
    can be converted into clearly legible form within a reasonable
    time. The Corporation shall so convert any records so kept upon
    the request of any person entitled to inspect the same.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;2.&#160;&#160;</FONT><I><U>Seal</U>.</I>&#160;&#160;The
    Board shall approve a corporate seal which shall be in the form
    of a circle and shall bear the name of the Corporation and the
    year of its incorporation. The seal may be used by causing it or
    a facsimile thereof to be impressed, affixed or reproduced or
    otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;3.&#160;&#160;</FONT><I><U>Fiscal
    Year</U>.</I>&#160;&#160;The fiscal year of the Corporation
    shall be determined and may be changed by resolution of the
    Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;4.&#160;&#160;</FONT><I><U>Notices
    and Waivers Thereof</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Whenever notice is required by applicable law, the
    Articles of Incorporation or these Bylaws to be given to any
    director, member of a committee or shareholder, such notice may
    be given personally, by mail or as otherwise permitted by law,
    or in the case of directors or officers, by facsimile
    transmission or other electronic transmission, addressed to such
    address as appears on the books of the Corporation. Any notice
    given by facsimile transmission shall be deemed to have been
    given upon confirmation of receipt by the addressee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Whenever any notice is required by applicable law, the
    Articles of Incorporation or these Bylaws, to be given to any
    director, member of a committee or shareholder, a waiver thereof
    given by the person or persons entitled to said notice, whether
    before or after the time stated therein, shall be deemed
    equivalent to
</DIV>
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    <BR>
    C-11
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    notice. Attendance of a person at a meeting, present in person
    or represented by proxy, shall constitute a waiver of notice of
    such meeting, except where the person attends the meeting for
    the express purpose of objecting at the beginning of the meeting
    to the transaction of any business because the meeting is not
    lawfully called or convened. Neither the business to be
    transacted at, nor the purpose of, any regular or special
    meeting of the shareholders, directors or members of a committee
    of directors needs to be specified in any waiver of notice
    unless so required by applicable law, the Articles of
    Incorporation or these Bylaws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;5.&#160;&#160;</FONT><I><U>Amendments</U>.</I>&#160;&#160;These
    Bylaws may be amended only as set forth in the Articles of
    Incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="font-variant: SMALL-CAPS">Section&#160;6.&#160;&#160;</FONT><I><U>Saving
    Clause</U>.</I>&#160;&#160;These Bylaws are subject to the
    provisions of the Articles of Incorporation and applicable law.
    If any provision of these Bylaws is inconsistent with the
    Articles of Incorporation or the Business Corporations Act, such
    provision shall be invalid only to the extent of such conflict,
    and such conflict shall not affect the validity of any other
    provision of these Bylaws.
</DIV>
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    <BR>
    C-12
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<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

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    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;B</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="y91492y9149204.gif" alt="JEFFERIES LETTERHEAD"><B> </B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    May&#160;5, 2011
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Independent Directors&#146; Committee of the Board of Directors
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude Carriers Corp.
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3 Iassonos Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    185 37 Piraeus
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Greece
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Members of the Independent Directors&#146; Committee:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We understand that Crude Carriers Corp. (the
    &#147;Company&#148;), Capital Product Partners L.P. (the
    &#147;Merger Partner&#148;), Capital GP L.L.C., the general
    partner of the Merger Partner (the &#147;Merger Partner
    GP&#148;), and Poseidon Project Corp., a wholly-owned subsidiary
    of the Merger Partner (&#147;Merger Sub&#148;), propose to enter
    into an Agreement and Plan of Merger, dated as of May&#160;5,
    2011 (the &#147;Merger Agreement&#148;), pursuant to which
    Merger Sub will merge with and into the Company (the
    &#147;Merger&#148;) in a transaction in which each outstanding
    share of common stock, par value $0.0001 per share, of the
    Company (the &#147;Company Common Stock&#148;) and each
    outstanding share of Class&#160;B stock, par value $0.0001 per
    share, of the Company (the &#147;Company Class&#160;B
    Stock&#148;), other than shares of Company Common Stock or
    Company Class&#160;B Stock owned by the Company, the Merger
    Partner, the Merger Partner GP, Merger Sub or any of their
    respective subsidiaries, all of which shares will be cancelled,
    will be converted into the right to receive 1.56 (the
    &#147;Exchange Ratio&#148;) common units representing limited
    partner interests in the Merger Partner (the &#147;Merger
    Partner Common Units&#148;). The terms and conditions of the
    Merger are more fully set forth in the Merger Agreement.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You have asked for our opinion as to whether the Exchange Ratio
    pursuant to the Merger Agreement is fair, from a financial point
    of view, to the holders of the Company Common Stock, other than
    (a)&#160;the Merger Partner, (b)&#160;the Merger Partner GP,
    (c)&#160;the officers and directors of the Company that are also
    officers or directors of the Merger Partner or the Merger
    Partner GP, respectively, or (d)&#160;affiliates of any of the
    foregoing or of the Company (collectively, the &#147;Company
    Unaffiliated Stockholders&#148;).
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In arriving at our opinion, we have, among other things:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;reviewed the Merger Agreement;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ii)&#160;reviewed certain publicly available financial and
    other information about the Company and the Merger Partner;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iii)&#160;reviewed certain information furnished to us by the
    managements of the Company and the Merger Partner, including
    financial forecasts and analyses, relating to the business,
    operations and prospects of the Company and the Merger Partner,
    respectively;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (iv)&#160;held discussions with members of senior managements of
    the Company and the Merger Partner concerning the matters
    described in clauses&#160;(ii) and (iii)&#160;above;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (v)&#160;reviewed the share trading price history and valuation
    multiples for the Company Common Stock and the Merger Partner
    Common Units and compared them with those of certain publicly
    traded companies that we deemed relevant;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vi)&#160;compared the proposed financial terms of the Merger
    with the financial terms of certain other transactions that we
    deemed relevant;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (vii)&#160;reviewed the relative financial contributions of the
    Company and the Merger Partner to the future performance of the
    combined company on a pro forma basis;
</DIV>
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    <BR>
    B-1
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (viii)&#160;reviewed appraisals dated March&#160;31, 2011 and
    April&#160;12, 2011 respectively prepared by Pareto Shipping AS
    and RS Platou ASA and furnished to us by the Merger Partner with
    regard to the vessels owned by the Merger Partner, and
    appraisals dated March&#160;31, 2011 and April&#160;14, 2011
    respectively prepared by Pareto Shipping AS and Clarkson
    Valuations Limited and furnished to us by the Company with
    regard to the vessels owned by the Company (collectively, the
    &#147;Appraisals&#148;);
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (ix)&#160;considered the potential pro forma impact of the
    Merger;&#160;and
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (x)&#160;conducted such other financial studies, analyses and
    investigations as we deemed appropriate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In our review and analysis and in rendering this opinion, we
    have assumed and relied upon, but have not assumed any
    responsibility to independently investigate or verify, the
    accuracy and completeness of all financial and other information
    that was supplied or otherwise made available by the Company and
    the Merger Partner or that was publicly available (including,
    without limitation, the Appraisals and the other information
    described above), or that was otherwise reviewed by us. We have
    relied on assurances of the managements of the Company and the
    Merger Partner that they are not aware of any facts or
    circumstances that would make such information inaccurate or
    misleading. In our review, we did not obtain any independent
    evaluation or appraisal of any of the assets or liabilities of,
    nor did we conduct a physical inspection of any of the
    properties or facilities of, the Company or the Merger Partner,
    nor have we been furnished with any such evaluations or
    appraisals, other than the Appraisals, nor do we assume any
    responsibility to obtain any such evaluations or appraisals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to the financial forecasts provided to and examined
    by us, we note that projecting future results of any company is
    inherently subject to uncertainty. The Company and the Merger
    Partner have informed us, however, and we have assumed, that
    such financial forecasts were reasonably prepared on bases
    reflecting the best currently available estimates and good faith
    judgments of the managements of the Company and the Merger
    Partner as to the future financial performance of the Company
    and the Merger Partner, respectively. We express no opinion as
    to the financial forecasts provided to us by the Company or the
    Merger Partner or the assumptions on which they are made.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our opinion is based on economic, monetary, regulatory, market
    and other conditions existing and which can be evaluated as of
    the date hereof. We expressly disclaim any undertaking or
    obligation to advise any person of any change in any fact or
    matter affecting our opinion of which we become aware after the
    date hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have made no independent investigation of any legal or
    accounting matters affecting the Company or the Merger Partner,
    and we have assumed the correctness in all respects material to
    our analysis of all legal and accounting advice given to the
    Company, the Independent Directors&#146; Committee of the Board
    of Directors of the Company (the &#147;Independent
    Committee&#148;) and the Board of Directors of the Company,
    including, without limitation, advice as to the legal,
    accounting and tax consequences of the terms of, and
    transactions contemplated by, the Merger Agreement to the
    Company and its stockholders. In addition, in preparing this
    opinion, we have not taken into account any tax consequences of
    the transaction to any holder of Company Common Stock. You have
    advised us that the Merger will qualify as a tax-free
    reorganization for United States federal income tax purposes. We
    have also assumed that in the course of obtaining the necessary
    regulatory or third party approvals, consents and releases for
    the Merger, no delay, limitation, restriction or condition will
    be imposed that would have an adverse effect on the Company, the
    Merger Partner or the contemplated benefits of the Merger.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We were not authorized to and did not solicit any expressions of
    interest from any other parties with respect to the sale of all
    or any part of the Company or any other alternative transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    It is understood that our opinion is for the use and benefit of
    the Independent Committee in its consideration of the Merger,
    and our opinion does not address the relative merits of the
    transactions contemplated by the Merger Agreement as compared to
    any alternative transaction or opportunity that might be
    available to the Company, nor does it address the underlying
    business decision by the Company to engage in the Merger or the
    terms of the Merger Agreement or the documents referred to
    therein. Our opinion does not constitute a recommendation as to
    how any holder of shares of Company Common Stock or Company
    Class&#160;B Stock should vote on the Merger or any matter
    related thereto. In addition, you have not asked us to
</DIV>
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    <BR>
    B-2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    address, and this opinion does not address, the fairness to, or
    any other consideration of, the holders of any class of
    securities, creditors or other constituencies of the Company,
    other than the holders of shares of Company Common Stock. We
    express no opinion as to the price at which shares of Company
    Common Stock or the Merger Partner Common Units will trade at
    any time. Furthermore, we do not express any view or opinion as
    to the fairness, financial or otherwise, of the amount or nature
    of any compensation payable or to be received by any of the
    Company&#146;s officers, directors or employees, or any class of
    such persons, in connection with the Merger, whether relative to
    the Exchange Ratio or otherwise. Our opinion has been authorized
    by the Fairness Committee of Jefferies&#160;&#038; Company, Inc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have been engaged by the Independent Committee to act as its
    financial advisor in connection with the Merger and will receive
    a fee for our services, a portion of which is payable upon
    delivery of this opinion and a significant portion of which is
    payable contingent upon consummation of the Merger. We also will
    be reimbursed for expenses incurred. The Company has agreed to
    indemnify us against liabilities arising out of or in connection
    with the services rendered and to be rendered by us under such
    engagement. We maintain a market in the securities of the Merger
    Partner, and in the ordinary course of our business, we and our
    affiliates may trade or hold securities of the Company or the
    Merger Partner
    <FONT style="white-space: nowrap">and/or</FONT> their
    respective affiliates for our own account and for the accounts
    of our customers and, accordingly, may at any time hold long or
    short positions in those securities. In addition, we may seek
    to, in the future, provide financial advisory and financing
    services to the Company, the Merger Partner or entities that are
    affiliated with the Company or the Merger Partner, for which we
    would expect to receive compensation. Except as otherwise
    expressly provided in our engagement letter with the Independent
    Committee and the Company, our opinion may not be used or
    referred to by the Company, or quoted or disclosed to any person
    in any manner, without our prior written consent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based upon and subject to the foregoing, we are of the opinion
    that, as of the date hereof, the Exchange Ratio pursuant to the
    Merger Agreement is fair, from a financial point of view, to the
    Company Unaffiliated Stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Very truly yours,
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    /s/ JEFFERIES&#160;&#038; COMPANY, INC.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    B-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='Y91492216'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;II<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INFORMATION
    NOT REQUIRED IN PROSPECTUS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"><!-- TABLE 05 -->

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;20.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Indemnification
    of Directors and Officers</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP is a Marshall Islands limited partnership. Under the MILPA,
    a partnership agreement may set forth that the partnership shall
    indemnify and hold harmless any partner or other person from and
    against any and all claims and demands whatsoever.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The CPLP Partnership Agreement provides that to the fullest
    extent permitted by law, but subject to the limitations
    expressly provided in the CPLP Partnership Agreement, the
    general partner, the CPLP Board and any other person the CPLP
    Board decides, shall be indemnified and held harmless by CPLP
    from and against any and all losses, claims, damages,
    liabilities, joint or several, expenses (including legal fees
    and expenses), judgments, fines, penalties, interest,
    settlements or other amounts arising from any and all claims,
    demands, actions, suits or proceedings, whether civil, criminal,
    administrative or investigative, in which such person may be
    involved, or is threatened to be involved, as a party or
    otherwise, provided, however, that such person shall not be
    indemnified and held harmless if there has been a final and
    non-appealable judgment entered by a court of competent
    jurisdiction determining that, in respect of the matter for
    which the person is seeking indemnification, the person acted in
    bad faith or engaged in fraud or willful misconduct or, in the
    case of a criminal matter, acted with knowledge that his or her
    conduct was unlawful; and, provided further, that
    indemnification shall be available to the general partner or its
    affiliates only for obligations incurred on behalf of CPLP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the CPLP Partnership Agreement, each CPLP director is
    reimbursed for
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses in connection with attending meetings of the CPLP Board
    or committees and is fully indemnified by CPLP for actions
    associated with being a director to the fullest extent permitted
    under Marshall Islands law, provided that indemnification is not
    available where there has been a final, non-appealable judgment
    entered by a court of competent jurisdiction that the director
    acted in bad faith or engaged in fraud or willful misconduct.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude is a Marshall Islands corporation. The MIBCA provides that
    Marshall Islands corporations may indemnify any of their
    directors or officers who are or are threatened to be a party to
    any legal action resulting from fulfilling their duties to the
    corporation against reasonable expenses, judgments and fees
    (including attorneys&#146; fees) incurred in connection with
    such action if the director or officer acted in good faith and
    in a manner he reasonably believed to be in or not opposed to
    the best interests of the corporation, and, with respect to any
    criminal action or proceeding, had no reasonable cause to
    believe his conduct was unlawful. The termination of any action,
    suit or proceeding by judgment, order, settlement, conviction,
    or upon a plea of no contest, or its equivalent, will not create
    a presumption that the person did not act in good faith and in a
    manner which he reasonably believed to be in or not opposed to
    the best interests of the corporation, and, with respect to any
    criminal action or proceeding, had reasonable cause to believe
    his conduct was unlawful. However, no indemnification will be
    permitted in cases where it is determined that the director or
    officer was liable for negligence or misconduct in the
    performance of his duty to the corporation, unless the court in
    which such action was brought determines that the person is
    fairly and reasonably entitled to indemnity, and then only for
    the expenses that the court deems proper. A corporation is
    permitted to advance payment for expenses occurred in defense of
    an action if its board of directors decides to do so. In
    addition, Marshall Islands corporations may purchase and
    maintain insurance on behalf of any person who is or was a
    director or officer of the corporation against any liability
    asserted against him and incurred by him in such capacity
    whether or not the corporation would have the power to indemnify
    him against such liability under the provisions of the MIBCA.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Crude&#146;s amended and restated articles of incorporation and
    bylaws will provide that it will indemnify Crude&#146;s
    directors and officers to the fullest extent permitted under the
    MIBCA.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CPLP and Crude currently maintain directors&#146; and
    officers&#146; insurance for their directors and officers as
    well as officers and directors of certain subsidiaries.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"><!-- TABLE 05 -->

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;21.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Exhibits
    and Financial Statement Schedules</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exhibit No.</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Description of Document</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Agreement and Plan of Merger, dated as of May&#160;5, 2011, by
    and among Capital Product Partners L.P., Capital GP L.L.C.,
    Poseidon Project Corp., and Crude Carriers Corp. (attached as
    Appendix&#160;A to the proxy statement/prospectus).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Support Agreement (attached as Annex&#160;A to Appendix&#160;A
    to the proxy statement/prospectus).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Second Amended and Restated Articles of Incorporation of
    Crude Carriers Corp., to be in effect as of the effective time
    of the merger (attached as Annex&#160;B to Appendix&#160;A to
    the proxy statement/prospectus).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Second Amended and Restated Bylaws of Crude Carriers
    Corp., to be in effect as of the effective time of the merger
    (attached as Annex&#160;C to Appendix&#160;A to the proxy
    statement/prospectus).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended and Restated Articles of Incorporation of Crude Carriers
    Corp., as currently in effect.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Amended and Restated Bylaws of Crude Carriers Corp., as
    currently in effect.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Watson, Farley&#160;&#038; Williams (New York) LLP as
    to the legality of the units being registered.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    8
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tax Opinion of Sullivan&#160;&#038; Cromwell LLP.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    8
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tax Opinion of Akin Gump Strauss Hauer&#160;&#038; Feld LLP.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    8
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tax Opinion of Watson, Farley&#160;&#038; Williams (New York)
    LLP.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Deloitte. Hadjipavlou, Sofianos&#160;&#038; Cambanis
    S.A. regarding CPLP.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Deloitte. Hadjipavlou, Sofianos&#160;&#038; Cambanis
    S.A. regarding Crude.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Jefferies&#160;&#038; Company, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    99
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Proxy Card for the Special Meeting of Crude Carriers Corp.
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"><!-- TABLE 05 -->

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;22.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Undertakings</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;CPLP, the undersigned Registrant, hereby undertakes as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;To file, during any period in which offers or sales are
    being made, a post-effective amendment to this registration
    statement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    i.&#160;to include any prospectus required by
    section&#160;10(a)(3) of the Securities Act;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ii.&#160;to reflect in the prospectus any facts or events
    arising after the effective date of the registration statement
    (or the most recent post-effective amendment thereof) which,
    individually or in the aggregate, represent a fundamental change
    in the information in the registration statement.
    Notwithstanding the foregoing, any increase or decrease in
    volume of securities offered (if the total dollar value of
    securities offered would not exceed that which was registered)
    and any deviation from the low or high end of the estimated
    maximum offering range may be reflected in the form of
    prospectus filed with the Commission pursuant to
    Rule&#160;424(b) if, in aggregate, the changes in volume and
    price represent no more than a 20% change in the maximum
    aggregate offering price set forth in the &#147;Calculation of
    Registration Fee&#148; table in the effective registration
    statement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    iii.&#160;to include any material information with respect to
    the plan of distribution not previously disclosed in the
    registration statement or any material change to such
    information in the registration statement; provided, however,
    that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
    apply if the registration statement is on Form
    <FONT style="white-space: nowrap">S-3,</FONT>
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    or
    <FONT style="white-space: nowrap">Form&#160;F-3</FONT>
    and the information required to be included in a post- effective
    amendment by those paragraphs is contained in periodic reports
    filed with or furnished to the Commission by the registrant
    pursuant to section&#160;13 or section&#160;15(d) of the
    Exchange Act that are incorporated by reference into the
    registration statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;That, for the purpose of determining any liability under
    the Securities Act, each such post-effective amendment shall be
    deemed to be a new registration statement relating to the
    securities offered
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    therein, and the offering of such securities at that time shall
    be deemed to be the initial bona fide offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;To remove from registration by means of a post-effective
    amendment any of the securities being registered which remain
    unsold at the termination of the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;To file a post-effective amendment to the registration
    statement to include any financial statements required by
    Item&#160;8.A. of
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    at the start of any delayed offering or throughout a continuous
    offering. Financial statements and information otherwise
    required by Section&#160;10(a)(3) of the Securities Act need not
    be furnished, provided that the registrant includes in the
    prospectus, by means of a post-effective amendment, financial
    statements required pursuant to this paragraph (a)(4) and other
    information necessary to ensure that all other information in
    the prospectus is at least as current as the date of those
    financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;The undersigned Registrant hereby undertakes as
    follows: that prior to any public reoffering of the securities
    registered hereunder through use of a prospectus which is a part
    of this registration statement, by any person or party who is
    deemed to be an underwriter within the meaning of
    Rule&#160;145(c), the issuer undertakes that such reoffering
    prospectus will contain the information called for by the
    applicable registration form with respect to reoffering by
    persons who may be deemed underwriters, in addition to the
    information called for by the other items of the applicable form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The Registrant undertakes that every prospectus
    (i)&#160;that is filed pursuant to the immediately preceding
    paragraph, or (ii)&#160;that purports to meet the requirements
    of Section&#160;10(a)(3) of the Securities Act and is used in
    connection with an offering of securities subject to
    Rule&#160;415, will be filed as a part of an amendment to the
    registration statement and will not be used until such amendment
    is effective, and that, for purposes of determining any
    liability under the Securities Act, each such post-effective
    amendment shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of
    such securities at that time shall be deemed to be the initial
    bona fide offering thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The undersigned Registrant hereby undertakes
    (i)&#160;to respond to requests for information that is
    incorporated by reference into the prospectus pursuant to
    Items&#160;4, 10(b), 11 or 13 of this Form, within one business
    day of receipt of such request, and to send the incorporated
    documents by first class mail or other equally prompt means and
    (ii)&#160;to arrange or provide for a facility in the
    U.S.&#160;for the purpose of responding to such requests. This
    includes information contained in documents filed subsequent to
    the effective date of the registration statement through the
    date of responding to the request.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;The undersigned Registrant hereby undertakes to supply
    by means of a post-effective amendment all information
    concerning a transaction, and the company being acquired
    involved therein, that was not the subject of and included in
    the registration statement when it became effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Insofar as indemnification for liabilities arising
    under the Securities Act may be permitted to directors, officers
    and controlling persons of the Registrant pursuant to the
    foregoing provisions, or otherwise, the Registrant has been
    advised that in the opinion of the SEC such indemnification is
    against public policy as expressed in the Securities Act and is,
    therefore, unenforceable. In the event that a claim for
    indemnification against such liabilities (other than the payment
    by the Registrant of expenses incurred or paid by a director,
    officer of controlling person of the Registrant in the
    successful defense of any action, suit or proceeding) is
    asserted by such director, officer or controlling person in
    connection with the securities being registered, the Registrant
    will, unless in the opinion of its counsel the matter has been
    settled by controlling precedent, submit to a court of
    appropriate jurisdiction the question whether such
    indemnification by it is against public policy as expressed in
    the Securities Act and will be governed by the final
    adjudication of such issue.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-3
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#Y91492tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='Y91492217'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act, the
    registrant has duly caused this registration statement to be
    signed on its behalf by the undersigned, thereunto duly
    authorized, in Piraeus, Greece, on June&#160;9, 2011.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    CAPITAL PRODUCT PARTNERS L.P.
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    Capital GP L.L.C., its general partner
</TD>
</TR>


<TR style="line-height: 48pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Ioannis E. Lazaridis
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chief Executive Officer and Chief
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 61%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Financial Officer of Capital GP
</DIV>

<DIV align="left" style="margin-left: 61%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    L.L.C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the requirements of the Securities Act, this
    registration statement has been signed by the following persons
    in the capacities and on the dates indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="2%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="40%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="40%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Signature</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Evangelos
    M. Marinakis</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Evangelos
    M. Marinakis
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman of the Board of<BR>
    Directors of CPLP
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    June 9, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Ioannis
    E. Lazaridis</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Ioannis
    E. Lazaridis
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chief Executive Officer and<BR>
    Chief Financial Officer of <BR>
    Capital GP L.L.C.&#160;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    June 9, 2011
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Donald
    J. Puglisi</DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Donald
    J. Puglisi
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    U.S. Representative
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    June 9, 2011
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    II-4
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>y91492exv2w1.htm
<DESCRIPTION>EX-2.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2.1</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Please see Appendix&nbsp;A to the proxy
statement/prospectus.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.2
<SEQUENCE>3
<FILENAME>y91492exv2w2.htm
<DESCRIPTION>EX-2.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2.2</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Please see Annex A to Appendix&nbsp;A to the
proxy statement/prospectus.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.3
<SEQUENCE>4
<FILENAME>y91492exv2w3.htm
<DESCRIPTION>EX-2.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2.3</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Please see Annex B to Appendix&nbsp;A to the
proxy statement/prospectus.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.4
<SEQUENCE>5
<FILENAME>y91492exv2w4.htm
<DESCRIPTION>EX-2.4
<TEXT>
<HTML>
<HEAD>
<TITLE>exv2w4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;2.4</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Please see Annex C to Appendix&nbsp;A to the
proxy statement/prospectus.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>6
<FILENAME>y91492exv3w1.htm
<DESCRIPTION>EX-3.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv3w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;3.1</B>
</DIV>




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">AMENDED AND RESTATED<BR>
ARTICLES OF INCORPORATION<BR>
OF<BR>
CRUDE CARRIERS CORP.<BR>
PURSUANT TO<BR>
THE MARSHALL ISLANDS BUSINESS CORPORATIONS ACT
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ARTICLE I<BR>
Name</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Crude Carriers Corp.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II<BR>
Address; Registered Agent</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The address of the Corporation&#146;s registered office in the Republic of The Marshall
Islands shall be Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall
Islands MH96960. The name of the Corporation&#146;s registered agent at such address shall be
The Trust Company of the Marshall Islands, Inc.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III<BR>
Incorporator</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The name and mailing address of the sole incorporator of the Corporation is: Majuro
Nominees Ltd., P.O. Box 1405, Majuro, Marshall Islands.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IV<BR>
Purpose</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the Corporation is to engage in any lawful act or activity for which
corporations may now or hereafter be organized under the BCA and without limiting the
foregoing the Corporation shall have every power which a corporation now or hereafter
organized under the BCA may have.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE V<BR>
Capital Stock</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Definitions</U>. As used herein:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &#147;<B>Affiliate</B>&#148; shall mean, with respect to any Person, any other Person that,
directly or indirectly, controls, is controlled by or is under common control with
such person or is a director or officer of such Person, and for purposes of this
definition, the term &#147;<B>control</B>&#148; (including the terms &#147;<B>controlling</B>&#148;, &#147;<B>controlled by</B>&#148;
and &#147;<B>under common control with</B>&#148;) of a Person means the possession, direct or
indirect, of the power to vote 10% or more of the voting stock or other form of
equity interest of such Person or to direct or cause direction
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">of the management and policies of such Person, whether through the ownership of
voting stock or other form of equity interest, by contract or otherwise;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &#147;<B>Person</B>&#148; means an individual, partnership, corporation (including a
business trust), limited liability company, joint stock company, trust,
unincorporated association, joint venture or other entity, or a government or any
political subdivision or agency thereof;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &#147;<B>Voting Power</B>&#148; shall mean, with respect to a class or series of capital
stock or classes of capital stock, as the context may require, the aggregate number
of votes that the holder(s) of such class or series of capital stock or classes of
capital stock, or any relevant portion thereof, entitled to vote at a meeting, as
the context may require; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &#147;<B>Voting Stock</B>&#148; shall mean, with respect to the Corporation, shares of any
class or series of capital stock entitled to vote generally in the election of
directors of the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Authorized Capital Stock</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Corporation shall have authority to issue 1,200,000,000 shares of capital
stock, of which (i)&nbsp;1,000,000,000 shares shall be registered shares of common stock, par
value $0.0001 per share (the &#147;<B>Common Stock</B>&#148;), (ii)&nbsp;100,000,000 shares shall be registered
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;B Stock, par value $0.0001 per share (the &#147;<B>Class&nbsp;B Stock</B>&#148;), and (iii)
100,000,000 shares shall be registered shares of preferred stock, par value $0.0001 per
share (the &#147;<B>Preferred Stock</B>&#148;); <B>provided that </B>Class&nbsp;B Stock converted into Common Stock
pursuant to Section&nbsp;4(b), Section 4(c) or Section 4(d) below may not be reissued as Class&nbsp;B
Stock. Registered shares may not be exchanged for bearer shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as may be otherwise required by law or by these Articles of Incorporation,
the holders of Common Stock and Class&nbsp;B Stock shall vote together as a single class and
their votes shall be counted and totaled together on all matters submitted to a vote of
shareholders of the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of any dissolution, liquidation or winding up of the affairs of the
Corporation, whether voluntary or involuntary, after payment in full of the amounts, if any,
required to be paid to the Corporation&#146;s creditors and the holders of Preferred Stock, the
remaining assets and funds of the Corporation shall be distributed pro rata to the holders
of Common Stock and Class&nbsp;B Stock, and the holders of Common Stock and the holders of Class
B Stock shall be entitled to receive the same amount per share in respect thereof. For
purposes of this Section 2(c) of Article&nbsp;V, the voluntary sale, conveyance, lease, exchange
or transfer (for cash, shares of stock, securities or other consideration) of all or
substantially all of the assets of the Corporation or a consolidation or merger of the
Corporation with or into one or more other corporations or entities (whether or not the
Corporation is the corporation surviving such consolidation or merger) shall not be deemed
to be a liquidation, dissolution or winding up of the affairs of the Corporation, voluntary
or involuntary.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Common Stock</U>. At every meeting of the shareholders of the Corporation,
each holder of Common Stock shall be entitled to one vote in person or by proxy for each share of
Common Stock registered in such holder&#146;s name on the transfer books of the Corporation in
connection with the election of directors and all other matters submitted to a vote of shareholders
except as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if at any time, any Person or group other than Crude Carriers Investments Corp., a
Marshall Islands corporation (&#147;<B>CCIC</B>&#148;), is the beneficial holder of 5.0% or more of the
Common Stock then outstanding, then the Voting Power of such Common Stock held by such
holder shall be reduced to 4.9% of the Voting Power of the Common Stock then outstanding.
The Voting Power of such Common Stock held by such holder that would have been in excess of
4.9% but for the limitation in the previous sentence shall be redistributed pro rata among
other holders of the Common Stock holding less than 5.0% of the Common Stock; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if at any time, CCIC, its affilates and the transferees and persons who acquired
Common Stock with the prior approval of the Board of Directors from CCIC or its affiliates
is the beneficial holder, taking into account all applicable attribution rules under the
United States Internal Revenue Code of 1986, as amended, in aggregate of 50% or more of the
Common Stock then outstanding and such holders are not qualified holders under the
applicable U.S. Department of the Treasury regulations sufficient to reduce the nonqualified
holders&#146; stake in the Common Stock below 50%, then the Voting Power of such Common Stock
held by such holder shall be reduced to 49% of the Voting Power of the Common Stock then
outstanding, except for purposes of votes cast pursuant to Article&nbsp;VI, Section 1(c) of these
Articles of Incorporation. The Voting Power of such Common Stock held by such holder that
would have been in excess of 49% but for the limitation in the previous sentence shall be
redistributed pro rata among other holders of the Common Stock holding less than 4.9% of the
Common Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Class&nbsp;B Stock</U>. The Board of Directors shall have the authority to issue
shares of Class&nbsp;B Stock in one or more series. Each share of Class&nbsp;B Stock shall have identical
designations, preferences, rights, qualifications, limitations and restrictions as a share of
Common Stock except as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at every meeting of the shareholders of the Corporation, each holder of Class&nbsp;B
Stock, in person or by proxy, shall be entitled to ten (10)&nbsp;votes for each share of Class&nbsp;B
Stock registered in such holder&#146;s name on the transfer books of the Corporation in
connection with the election of directors and all other matters submitted to a vote of
shareholders; <B>provided that </B>the Voting Power of the outstanding shares of Class&nbsp;B Stock
shall be permanently limited to 49% of the Voting Power of the outstanding Common Stock and
Class&nbsp;B Stock, voting together as a single class;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if a share of Class&nbsp;B Stock is transferred to, or becomes, at any point in time,
registered in the name of, any Person other than CCIC or an Affiliate thereof, then such
share shall irrevocably, immediately and automatically become a share of Common Stock;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) each share of Class&nbsp;B Stock shall be convertible irrevocably at any time into one
share of Common Stock at the sole discretion of the holder thereof; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any provision of these Articles of Incorporation for the voluntary, mandatory or
other conversion of shares of Class&nbsp;B Stock into or for shares of Common Stock on a
one-for-one basis shall be deemed not to adversely affect the rights of the Common Stock,
and every reference in these Articles of Incorporation to a majority or other proportion of
the votes of shares of Common Stock or Class&nbsp;B Stock shall refer to such majority or other
proportion of the votes to which such shares of Common Stock or Class&nbsp;B Stock are entitled.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Preferred Stock</U>. The Board of Directors shall have the authority to
establish preferred shares in one or more series and with such designations, preferences and
relative, voting, participating, optional or special rights and qualifications, limitations
or restrictions as shall be stated in the resolutions providing for the issue of such
preferred shares. The powers, preferences and relative, participating, optional and other
special rights of each series of Preferred Stock, and the qualifications, limitations or
restrictions thereof, if any, may differ from those of any and all other series at any time
outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Preemptive Rights</U>. Holders of the Corporation&#146;s Common Stock shall
have no conversion, redemption or preemptive rights to subscribe to any of the Corporation&#146;s
securities. Holders of the Corporation&#146;s Class&nbsp;B Stock shall have preemptive rights to
subscribe to the issuance of any of the Company&#146;s Class&nbsp;B Stock.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VI<BR>
Directors</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Board of Directors</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The business and affairs of the Corporation shall be managed by or under
the direction of the Board of Directors (the &#147;<B>Board</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The exact number of directors comprising the entire Board shall be not less
than three nor more than twelve (subject to any rights of the holders of Preferred
Stock to elect additional directors under specified circumstances) as determined
from time to time by resolution adopted by the affirmative vote of a majority of the
members of the Board then in office. The shareholders of the Corporation may change
the number of directors if and only if 80% of the Voting Power of the aggregate
Voting Stock affirmatively elects to do so; <B>provided that </B>such election must specify
a number of directors between three and twelve.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Directors shall be elected by a plurality of the votes cast at a meeting of
shareholders by the holders Voting Stock. Cumulative voting, as defined in Section
71(2) of the BCA, shall not be used to elect directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Classification; Election; Vacancies; Removal</U>.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Board of Directors shall be divided into three classes, as nearly equal
in number as the then total number of directors constituting the entire Board
permits, with the term of office of each of the three classes expiring successively
each year, with the term of office of the first class to expire at the third annual
meeting of shareholders, the term of office of the second class to expire at the
second annual meeting of shareholders, and the term of office of the third class to
expire at the first annual meeting of shareholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Commencing with the first annual meeting of shareholders, the directors
elected at an annual meeting of shareholders to succeed those whose terms then
expire shall be identified as being directors of the same class as the directors
whom they succeed, and each of them shall hold office until the third succeeding
annual meeting of shareholders and until such director&#146;s successor is elected and
has qualified.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any vacancies in the Board of Directors for any reason, and any created
directorships resulting from any increase in the number of directors, may be filled
by the vote of not less than a majority of the members of the Board then in office,
although less than a quorum, or by a sole remaining director, and any directors so
chosen shall hold office until the next election of the class for which such
directors shall have been chosen and until their successors shall be elected and
qualified. No decrease in the number of directors shall shorten the term of any
incumbent director. Notwithstanding the foregoing, and except as otherwise required
by law, whenever the holders of any one or more series of preferred stock shall have
the right, voting separately as a class, to elect one or more directors of the
Corporation, the then authorized number of directors shall be increased by the
number of directors so to be elected, and the terms of the director or directors
elected by such holders shall expire at the next succeeding annual meeting of
shareholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any director or the entire Board of Directors of the Corporation may be
removed at any time, but only for cause and only by the affirmative vote of the
holders of not less than 66 2/3% of the Voting Power of the Voting Stock at a
meeting of the shareholders called for that purpose. Notwithstanding the foregoing,
whenever the holders of any one or more series of Preferred Stock shall have the
right, voting separately as a class, to elect one or more directors of the
Corporation, the provisions of this subsection (d)&nbsp;shall not apply with respect to
the director or directors elected by such holders of Preferred Stock and such
director(s) shall be removed only pursuant to the provisions contained in the
resolution(s) of the Board providing for the establishment of any such series of
Preferred Stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Limitation on Director Liability</U>. To the fullest extent that the
BCA or any other law of the Republic of The Marshall Islands as it exists or as it may
hereafter be amended permits the limitation or elimination of the liability of directors, no
director of the Corporation shall be liable to the Corporation or its shareholders for
monetary damages for actions taken in their capacity as director or officer of the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Corporation, <B>provided that </B>such provision shall not eliminate or limit the liability of
a director (i)&nbsp;for any breach of such director&#146;s duty of loyalty to the Corporation or its
shareholders, (ii)&nbsp;for acts or omissions not undertaken in good faith or which involve
intentional misconduct or a knowing violation of law or (iii)&nbsp;for any transactions from
which such director derived an improper personal benefit. No amendment to or repeal of this
Section&nbsp;3 of this Article&nbsp;VI shall apply to or have any effect on the liability or alleged
liability of any director of the Corporation for or with respect to any acts or omissions of
such director occurring prior to such amendment or repeal.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Amendments to this Article</U>. Notwithstanding any other provisions of
these Amended and Restated Articles of Incorporation or the Bylaws of the Corporation to the
contrary (and notwithstanding the fact that some lesser percentage may be specified by law),
the affirmative vote of not less than 66 2/3% of Voting Power of the Voting Stock shall be
required to amend, alter, change or repeal this Article&nbsp;VI.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VII<BR>
Shareholder Meetings</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Meetings Generally</U>. Meetings of shareholders may be held within or
without the Republic of The Marshall Islands, as the Bylaws of the Corporation may provide.
The books of the Corporation may be kept (subject to any provision of Marshall Islands law)
outside the Republic of The Marshall Islands at such place or places as may be designated
from time to time by the Board or in the Bylaws of the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Special Meetings</U>. Special meetings of the shareholders shall be
called only upon the request of a majority of the Board. Special meetings of the
shareholders may be held at such time and place as may be stated in the notice of meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Amendments to this Article</U>. Notwithstanding any other provisions of
these Amended and Restated Articles of Incorporation or the Bylaws of the Corporation to the
contrary (and notwithstanding the fact that some lesser percentage may be specified by law),
the affirmative vote of not less than 66 2/3% of Voting Power of the Voting Stock shall be
required to amend, alter, change or repeal this Article&nbsp;VII.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Quorum at Adjourned Meetings</U>. In the event that a quorum
does not exist at a shareholder meeting with respect to any vote to be taken by a particular
class or series, the holders of a majority of the votes entitled to be cast by the
shareholders of such class or series who are present in person or by proxy may adjourn the
meeting with respect to the vote(s) to be taken by such class or series. At any such
adjourned meeting, the holders of one-third or more of the total Voting Power of the
outstanding capital stock of the Corporation entitled to vote at a meeting of the
shareholders, present in person or represented by proxy, shall represent a quorum for the
transaction of business.
</DIV>





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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VIII<BR>
Bylaws</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of the Corporation is expressly authorized to make, alter or
repeal any bylaw of the Corporation by a vote of not less than a majority of the members of
the Board then in office, and the shareholders may not make additional bylaws and may not
alter or repeal any bylaw except by the affirmative vote of not less than 66 2/3% of the
aggregate Voting Power of the Voting Stock. Notwithstanding any other provisions of these
Amended and Restated Articles of Incorporation or the Bylaws of the Corporation to the
contrary (and notwithstanding the fact that some lesser percentage may be specified by the
Business Corporations Act), the affirmative vote of not less than 66 2/3% of the aggregate
Voting Power of the Voting Stock shall be required to amend, alter, change or repeal this
Article&nbsp;VIII.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IX<BR>
Business Opportunities of the Corporation</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Definitions</U>. For purposes of this Article&nbsp;IX only:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &#147;<B>Bareboat Charter Agreement</B>&#148; means a contract to charter a tanker vessel of
the type then owned or controlled by the Corporation for an agreed period of time at
a set rate per day under which all voyage related costs, such as fuel and port dues,
and all operating expenses, including maintenance, crewing and insurance, are for
the charterer&#146;s account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &#147;<B>Bareboat Charter Opportunity</B>&#148; means a potential opportunity to enter into
a Bareboat Charter Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &#147;<B>Business Opportunity</B>&#148; means a Spot Charter Opportunity, a Period Charter
Opportunity, a Bareboat Charter Opportunity, a Vessel Acquisition Opportunity or any
other business opportunity that the Corporation would reasonably be expected to be
capable of pursuing, but excluding the opportunity to enter a tanker vessel into a
tanker pool.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <B>&#147;Corporation</B>&#148; means the Corporation and all Persons in which the
Corporation beneficially owns (directly or indirectly) 50% or more of the
outstanding voting stock, voting power, partnership interests or similar voting
interests.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &#147;<B>Capital Maritime</B>&#148; means Capital Maritime &#038; Trading Corp., a Marshall
Islands corporation, and all Persons (other than the Corporation, as defined in
accordance with clause (d)&nbsp;of this Section&nbsp;1 of this Article&nbsp;IX) in which Capital
Maritime beneficially owns (directly or indirectly) 50% or more of the outstanding
Voting Stock, Voting Power, partnership interests or similar voting interests or
(ii)&nbsp;which otherwise are Affiliates of Capital Maritime.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) &#147;<B>Capital Maritime Entity</B>&#148; means Capital Maritime, its officers and
directors and any Person controlled, directly or indirectly, by Capital Maritime,
including, without limitation, Capital Ship Management Corp.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) &#147;<B>Manager</B>&#148; means the manager of the Corporation&#146;s fleet.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) &#147;<B>Opportunity Period</B>&#148; means:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to a Period Charter Opportunity or Bareboat
Charter Opportunity, 48 hours from the time a Capital Maritime
Entity notifies Crude Carriers of such Period Charter
Opportunity or Bareboat Charter Opportunity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to a Spot Charter Opportunity, a reasonable
period of time in light of the circumstances (including without
limitation the time period the Spot Charter Opportunity is
expected to be available) from the time a Capital Maritime
Entity informs Crude Carriers of such Spot Charter Opportunity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to a Vessel Acquisition Opportunity, 120 hours
from the time a Capital Maritime Entity notifies Crude Carriers
of such Vessel Acquisition Opportunity, unless Crude Carriers
notifies Capital Maritime that it wishes to extend the
Opportunity Period for such Vessel Acquisition Opportunity, in
which case the Opportunity Period for such Vessel Acquisition
Opportunity shall be 192 hours from the time a Capital Maritime
Entity notifies Crude Carriers of such Vessel Acquisition
Opportunity; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to any other Business Opportunity, 120 hours
from the time a Capital Maritime Entity notifies Crude Carriers
of such Business Opportunity.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &#147;<B>Period Charter Agreement</B>&#148; means a contract to charter a tanker vessel of
the type then owned or controlled by the Corporation for an agreed period of time in
excess of three months at a set rate per day under which the charterer pays for the
vessel&#146;s voyage expenses, such as fuel and port dues, and the owner is responsible
for providing crew and paying operating expenses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) &#147;<B>Period Charter Opportunity</B>&#148; means a potential opportunity to enter into a
Period Charter Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) &#147;<B>Spot Charter Agreement</B>&#148; means a contract to charter a tanker vessel of the
type then owned or controlled by the Corporation for an agreed period of time of up
to three months at a set rate per day under which the vessel
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">operator pays for the vessel&#146;s voyage expenses, such as fuel and port dues, and
the owner is responsible for providing crew and paying operating expenses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) &#147;<B>Spot Charter Opportunity</B>&#148; means a potential opportunity to enter into a
Spot Charter Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) &#147;<B>Vessel Acquisition Opportunity</B>&#148; means a potential opportunity to acquire a
crude tanker vessel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>General</U>. This Article&nbsp;IX anticipates the possibility that (a)
Capital Maritime may be a majority or significant shareholder of the Corporation, (b)
certain officers and/or directors of the Corporation may also serve as officers and/or
directors of Capital Maritime, (c)&nbsp;the Corporation and Capital Maritime, either directly or
through their subsidiaries, may engage in the same or similar activities or lines of
business and have an interest in the same areas of corporate opportunities, and (d)&nbsp;benefits
may be derived by the Corporation through its continued contractual, corporate and business
relationships with Capital Maritime. The provisions of this Article&nbsp;IX shall, to the
fullest extent permitted by law, define the conduct of certain affairs of the Corporation
and its subsidiaries as they may involve Capital Maritime, and their respective officers,
directors, agents and employees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Business Opportunities</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as may be otherwise provided in a written agreement between the
Corporation and Capital Maritime, Capital Maritime shall have the right to engage
(and shall have no duty to refrain from engaging) in the same or similar activities
or lines of business as the Corporation, and the Corporation shall not be deemed to
have an interest or expectancy in any Business Opportunity in which Capital Maritime
engages or seeks to engage merely because the Corporation engages in the same or
similar activities or lines of business as that involved in or implicated by such
Business Opportunity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If Capital Maritime (or another Capital Maritime Entity) becomes aware of a
Business Opportunity, whether through an officer or director shared with the
Corporation or otherwise, then Capital Maritime shall inform (or cause the relevant
Capital Maritime Entity to inform) the Corporation of such Business Opportunity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Capital Maritime shall refrain, and shall cause all other Capital Maritime
Entities to refrain, from pursuing or acquiring such Business Opportunity from the
date a Capital Maritime Entity becomes aware of such Business Opportunity until the
Corporation has been notified of the Business Opportunity and the earlier of (i)&nbsp;the
time the Opportunity Period for such Business Opportunity has lapsed without the
Corporation informing the applicable Capital Maritime Entity that it elects to
pursue or acquire the applicable Business Opportunity and (ii)&nbsp;the time the
Corporation informs a
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Capital Maritime Entity that it does not intend to pursue such Business
Opportunity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) After being informed of a Business Opportunity, the Corporation shall
inform the Capital Maritime Entity that provided such notice, as promptly as
practicable, of its election to (i)&nbsp;pursue or acquire such Business Opportunity,
(ii)&nbsp;direct such Business Opportunity to another Person, or (iii)&nbsp;refrain from doing
the foregoing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Corporation elects, within the Opportunity Period, to pursue or
acquire such Business Opportunity or to direct such Business Opportunity to another
Person, then Capital Maritime shall refrain, and shall cause all other Capital
Maritime Entities to refrain, from pursuing or acquiring such Business Opportunity
until such time as the Corporation abandons its pursuit of such Business
Opportunity. If the Corporation does not elect, within the Opportunity Period, to
pursue or acquire such Business Opportunity or to direct such Business Opportunity
to another Person, then any Capital Maritime Entity may pursue or acquire such
Business Opportunity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notwithstanding the foregoing: (i)&nbsp;if the Corporation notifies a Capital
Maritime Entity that it will not pursue or acquire a particular Business Opportunity
or direct such Business Opportunity to another Person, thereafter any Capital
Maritime Entity may pursue or acquire such Business Opportunity; and (ii)&nbsp;the
Capital Maritime Entities shall not be restricted in any way in pursuing business
opportunities that are not Business Opportunities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Termination; survival</U>. Anything in these Amended and Restated
Articles of Incorporation to the contrary notwithstanding, this Article&nbsp;IX shall
automatically terminate, expire and have no further force and effect on the date that the
Business Opportunities Agreement between the Corporation and Capital Maritime (as it may be
amended from time to time) is terminated in accordance with its terms. No addition to,
alteration of or termination of this Article&nbsp;IX or any other provision of these Amended and
Restated Articles of Incorporation shall eliminate or impair the effect of this Article&nbsp;IX
on any act, omission, right or liability that occurred prior thereto.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE X<BR>
Amendment of Articles</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in these Amended Articles of Incorporation, the
affirmative vote of more than 50% of the Voting Power of the Voting Stock shall be required
to amend, alter, change or repeal these Articles of Incorporation.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XI<BR>
Corporate Existence</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate existence began on October&nbsp;29, 2009.
</DIV>


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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;3.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMENDED AND RESTATED BYLAWS<BR>
OF<BR>
CRUDE CARRIERS CORP.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ARTICLE I<BR>
Offices and Agent</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Registered Office and Agent</U>. The address of the registered office of Crude
Carriers Corp. (the &#147;<B>Corporation</B>&#148;) in the Republic of The Marshall Islands is Trust Company
Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The name of its
registered agent at such address is The Trust Company of the Marshall Islands, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Other Offices</U>. The Corporation may also have offices at other places,
either within or without the Republic of The Marshall Islands, as the Board of Directors of the
Corporation (the &#147;<B>Board</B>&#148;) may from time to time determine or as the business of the Corporation
shall require.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II<BR>
Meetings of Shareholders</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Place of Meetings</U>. Meetings of the shareholders for the election of
directors or for any other purpose shall be held at such place, if any, either within or without
the Republic of The Marshall Islands, as shall be designated from time to time by the Board and
stated in the notice of meeting or in a duly executed waiver of notice thereof. Adjournments of
meetings may be held at the place at which the meeting adjourned was being held, or at any other
place determined by the Board, whether or not a quorum shall have been present at such adjourned
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Annual Meetings</U>. To the extent required by applicable law or the Amended
and Restated Articles of Incorporation of the Corporation (hereinafter the &#147;<B>Articles of
Incorporation</B>&#148;), an annual meeting of the shareholders for the election of directors and the
transaction of such other business as may properly come before the meeting shall be held at such
time and on such date as shall be determined by the Board and stated in the notice of the meeting.
If the Corporation fails to hold an annual meeting within 90&nbsp;days of the date designated by the
Board for such meeting, a special meeting in lieu of an annual meeting may be called by
shareholders holding not less than ten percent of the Voting Power (as such term is defined in the
Articles of Incorporation) of all outstanding shares entitled to vote at such meeting. The
directors of the Corporation shall be entitled to receive notice of and to attend and be heard at
any meeting of the shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Special Meetings</U>. Other than a special meeting in lieu of an annual
meeting and except as otherwise provided by applicable law, special meetings of the shareholders
shall be called only by the Chairman of the Corporation&#146;s Board of Directors or Chief Executive
Officer, in either case at the direction of the Corporation&#146;s Board of Directors as set forth in a
resolution stating the purpose or purposes thereof approved by a majority of the entire Board of
Directors. Only such business as is specified in the notice of any special meeting of the
shareholders shall come before such meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Notice of Meetings</U>. Except as otherwise provided by applicable law, notice
of each meeting of the shareholders, whether annual or special, shall be given not less than 15
days nor more than 60&nbsp;days before the date of the meeting to each shareholder of record entitled to
notice
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of the meeting. If mailed, such notice shall be deemed given when deposited in the mail,
postage prepaid, directed to the shareholder at such shareholder&#146;s address as it appears on the
records of the Corporation or, if such shareholder shall have filed with the Corporation&#146;s
Secretary a written request that notices be sent to some other address, then directed to such
shareholder at such other address. Each such notice shall state the place, date and hour of the
meeting and, in the case of a special meeting, the purpose or purposes for which the meeting is
called and by whose direction the notice of the meeting is being issued. Notice of any meeting of
the shareholders shall not be required to be given to any shareholder who shall waive notice
thereof as provided in Section&nbsp;4 of Article&nbsp;VIII of these Bylaws. Notice of adjournment of a
meeting of the shareholders need not be given if the time and place to which it is adjourned are
announced at such meeting, unless the adjournment is for lack of quorum or for a period of more
than 30&nbsp;days or, after adjournment, a new record date is fixed for the adjourned meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Quorum; Adjournment</U>. Except as otherwise provided by applicable law or by
the Articles of Incorporation, the holders of a majority in total Voting Power of the outstanding
capital stock of the Corporation entitled to vote at a meeting of the shareholders, present in
person or represented by proxy, shall constitute a quorum for the transaction of business at any
annual or special meeting of the shareholders; <B>provided that </B>where a separate vote by a class or
series of capital stock is required, the holders of a majority in total Voting Power of the
outstanding capital stock of such class or series, present in person or represented by proxy, shall
constitute a quorum entitled to take action with respect to such vote on such matter. The Chairman
of the meeting or the holders of a majority of the votes entitled to be cast by the shareholders
who are present in person or by proxy may adjourn the meeting from time to time whether or not a
quorum is present. In the event that a quorum does not exist with respect to any vote to be taken
by a particular class or series, the holders of a majority of the votes entitled to be cast by the
shareholders of such class or series who are present in person or by proxy may adjourn the meeting
with respect to the vote(s) to be taken by such class or series. At any such adjourned meeting,
(a)&nbsp;the holders of one-third or more of the total Voting Power of the outstanding capital stock of
the Corporation entitled to vote at a meeting of the shareholders, present in person or represented
by proxy, shall constitute a quorum for the transaction of business, and (b)&nbsp;any business may be
transacted which might have been transacted at the meeting as originally called. If the
adjournment is for more than 30&nbsp;days, or if after the adjournment a new record date is fixed for
the adjourned meeting, a notice of the adjourned meeting shall be given to each shareholder
entitled to vote at the meeting not less than 15 nor more than 60&nbsp;days before the date of the
meeting, unless a different period is prescribed by applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Proxies</U>. Any shareholder entitled to vote at a meeting of the shareholders
may do so in person or by proxy appointed by such shareholder or by such shareholder&#146;s attorney
thereto authorized, and bearing a date not more than 11&nbsp;months from the date on which such proxy
was executed, unless such instrument provides for a longer period. All proxies must be filed with
the Secretary of the Corporation at the beginning of the applicable meeting in order to be counted
in any vote at such meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Voting</U>. Except as otherwise provided by the Articles of Incorporation,
these Bylaws, the rules or regulations of any stock exchange applicable to the Corporation or its
securities or applicable law, and except for the election of directors, any question brought before
any meeting of the shareholders at which a quorum is present shall be decided by the affirmative
vote of the holders of a majority of the total number of votes of the capital stock present in
person or represented by proxy and entitled to vote on the applicable subject matter.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Organization; Order of Business</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At every meeting of shareholders, the Chairman of the Board, or in such person&#146;s
absence, the Chief Executive Officer, or in the absence of both of them, the Chief Financial
Officer or any Vice President, shall act as Chairman of the meeting. In the absence of the
Chairman of the Board, the Chief Executive Officer, the Chief Financial Officer and each
Vice President, the Board, or, if the Board fails to act, the shareholders, may appoint any
shareholder, director or officer of the Corporation to act as Chairman of any meeting. The
Secretary of the Corporation shall act as Secretary of the meeting, but in the absence of
the Secretary, the Chairman of the meeting may appoint any person to act as Secretary of the
meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Except as otherwise provided in the Articles of Incorporation, nominations
of persons for election to the Board and the proposal of business to be considered
by the shareholders at any annual meeting of the shareholders may be made only (i)
pursuant to notice of meeting (or any supplement thereto); (ii)&nbsp;by or at the
direction of the Board; or (iii)&nbsp;by any shareholder who is a holder of record at the
time of the giving of the notice provided for in this Section&nbsp;8, who is entitled to
vote at the meeting and who complies with the procedures set forth in this Section
8.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Except as otherwise provided in the Articles of Incorporation, for
nominations or business properly to be brought before an annual meeting by a
shareholder, the shareholder must have given timely notice thereof in proper written
form to the Secretary of the Corporation and any such proposed business other than
the nomination of persons for election to the Board must constitute a proper matter
for shareholder action. To be timely, a shareholder&#146;s notice must be delivered to
or mailed and received by the Secretary of the Corporation not less than 90&nbsp;days nor
more than 120&nbsp;days prior to the anniversary date of the immediately preceding annual
meeting. In no event shall the public announcement of an adjournment or
postponement of an annual meeting commence a new time period (or extend any time
period) for the giving of a shareholder&#146;s notice as described above. To be in
proper written form, a shareholder&#146;s notice to the Secretary of the Corporation
shall set forth in writing as to each matter the shareholder proposes to bring
before the annual meeting:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) as to each person whom the shareholder proposes to nominate for
election or re-election as a director, all information relating to such
person that is required to be disclosed in solicitations of proxies for
election of directors in an election contest, or is otherwise required
pursuant to Regulation&nbsp;14A under the Securities Exchange Act of 1934, as
amended (the &#147;<B>Exchange Act</B>&#148;) (including such person&#146;s written consent to
being named in the proxy statement as a nominee and to serving as a director
if elected);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) as to any other business that the shareholder proposes to bring
before the meeting, a brief description of the business desired to be
brought before the annual meeting, the text of the proposal or business
(including the text of any resolutions proposed for consideration) and the
reasons for
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">conducting such business at the annual meeting and in the event that
such business includes a proposal to amend the Bylaws of the Corporation,
the language of the proposed amendment;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the name and address, as they appear on the Corporation&#146;s books,
of the shareholder proposing such business or nomination and the name and
address of the beneficial owner, if any, on whose behalf the nomination or
proposal is being made;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the class or series and number of shares of the Corporation which
are beneficially owned or owned of record by the shareholder proposing such
business or nomination and name of the beneficial owner if different from
the shareholder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material interest of the shareholder in such business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a representation that the shareholder is a holder of record of
stock of the Corporation entitled to vote at such annual meeting and intends
to appear in person or by proxy at such meeting to propose such business;
and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) if the shareholder intends to solicit proxies in support of such
shareholder&#146;s proposal, a representation to that effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing notice requirements shall be deemed satisfied by a shareholder if
the shareholder has notified the Corporation of his or her intention to make a
nomination or present a proposal at an annual meeting and such shareholder&#146;s nominee
or proposal has been included in a proxy statement that has been prepared by
management of the Corporation to solicit proxies for such annual meeting; <B>provided
that </B>if such shareholder does not appear or send a qualified representative to
present such nominee or proposal at such annual meeting, the Corporation need not
present such nominee or proposal for a vote at such meeting notwithstanding that
proxies in respect of such vote may have been received by the Corporation. For
purposes of this Section&nbsp;8 of Article&nbsp;II, to be considered a qualified
representative of the shareholder, a person must be authorized by a writing executed
by such shareholder or an electronic transmission delivered by such shareholder to
act for such shareholder as proxy at the meeting of shareholders and such person
must produce such writing or electronic transmission, or a reliable reproduction of
such writing or electronic transmission, at the meeting of shareholders. The
Corporation may require any proposed nominee to furnish such other information as it
may reasonably require to determine the eligibility of such proposed nominee to
serve as a director of the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Notwithstanding anything in paragraph (b)(2) above to the contrary, in the
event that the number of directors to be elected to the Board at an annual meeting
of the shareholders is increased and there is no public announcement naming all of
the nominees for directors or specifying the size of the increased Board made by the
Corporation at least 90&nbsp;days prior to the first anniversary of the date of the
immediately preceding annual meeting, a shareholder&#146;s notice required by this
Section&nbsp;8 shall also be considered timely, but only with respect to nominees for any
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">new positions created by such increase, if it shall be delivered to or mailed
to and received by the Secretary of the Corporation not later than the close of
business on the 10th day following the day on which such public announcement is
first made by the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Only such business shall be conducted at a special meeting of shareholders as shall
have been brought before the meeting pursuant to the Corporation&#146;s notice of meeting.
Nominations of persons for election to the Board may be made at a special meeting of
shareholders at which directors are to be elected pursuant to the notice of meeting (i)&nbsp;by
or at the direction of the Board or (ii)&nbsp;provided that the Board has determined that
directors shall be elected at such meeting, by any shareholder who is a holder of record at
the time of the giving of notice provided for in this Section&nbsp;8, who is entitled to vote at
the meeting and who complies with the procedures set forth in this Section&nbsp;8 (except as
otherwise provided in the Articles of Incorporation). In the event the Corporation calls a
special meeting of shareholders for the purpose of electing one or more directors to the
Board, any such shareholder may nominate a person or persons (as the case may be), for
election to such position(s) as specified in the notice of meeting, if the shareholder has
given timely notice thereof in proper written form to the Secretary of the Corporation
(except as otherwise provided in the Articles of Incorporation). To be timely, a
shareholder&#146;s notice must be delivered to or mailed and received at the principal executive
offices of the Corporation not earlier than the 120th day prior to such special meeting and
not later than the close of business on the later of the 90th day prior to such special
meeting or the 10th day following the day on which public announcement of the date of such
meeting is first made. In no event shall the public announcement of an adjournment or
postponement of a special meeting commence a new time period (or extend any time period) for
the giving of a shareholder&#146;s notice as described above. To be in proper written form, such
notice must meet the requirements of paragraph (b)(2) above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Except as otherwise provided in the Articles of Incorporation, only such persons
who are nominated in accordance with this Section&nbsp;8 shall be eligible to serve as directors
of the Corporation and only such business shall be conducted at a meeting of shareholders as
shall have been brought before the meeting in accordance with the procedures set forth in
this Section&nbsp;8. The Chairman of a meeting shall refuse to permit any business to be brought
before the meeting which fails to comply with the foregoing or if a shareholder solicits
proxies in support of such shareholder&#146;s nominee or proposal without such shareholder having
made the representation required by clause (vi)&nbsp;of paragraph (b)(2) above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Voting List</U>. The officer of the Corporation who has charge of the stock
ledger of the Corporation shall prepare and make, at least ten days before every meeting of the
shareholders, a complete list of the registered shareholders, as of the record date, entitled to
vote at the meeting, arranged in alphabetical order, and showing the address of each such
shareholder and the number of shares registered in the name of each such shareholder. Such list
shall be open to the examination of any shareholder, for any purpose germane to the meeting, during
ordinary business hours, for a period of at least ten days prior to the meeting as required by
applicable law. The list shall also be produced and kept at the time and place of the meeting
during the whole time thereof and may be inspected by any shareholder of the Corporation who is
present.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Stock Ledger</U>. The stock ledger of the Corporation shall be the only
evidence as to the identity of the shareholders entitled to examine the list required by Section&nbsp;10
of this Article&nbsp;II or to vote in person or by proxy at any meeting of shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Record Date</U>. In order that the Corporation may determine the shareholders
entitled to (i)&nbsp;notice of or vote at any meeting of the shareholders or any adjournment thereof,
(ii)&nbsp;express consent to corporate action by written consent without a meeting unless otherwise
provided in the Articles of Incorporation, (iii)&nbsp;receive payment of any dividend or other
distribution or allotment of any rights, or exercise any rights in respect of any change,
conversion or exchange of stock, or (iv)&nbsp;undertake any other lawful action, the Board may fix a
record date, which shall not precede the date upon which the resolution fixing the record date is
adopted by the Board and which record date shall, unless otherwise required by law, not be, (a)&nbsp;in
the case of clause (i)&nbsp;or (ii)&nbsp;above, more than 60 nor less than 15&nbsp;days before the date of such
meeting or the date on which such action by written consent is required to occur, and (b)&nbsp;in the
case of clauses (iii)&nbsp;and (iv)&nbsp;above, more than 60&nbsp;days prior to such action. If no record date is
fixed, (a)&nbsp;the record date for determining shareholders entitled to notice of or to vote at a
meeting of the shareholders shall be at the close of business on the day next preceding the day on
which notice is given, or if notice is waived, at the close of business on the day next preceding
the day on which the meeting is held; (b)&nbsp;the record date for determining shareholders entitled to
express consent to corporate action in writing without a meeting (unless otherwise provided in the
Articles of Incorporation), when no prior action by the Board is required under the Business
Corporations Act, shall be the first day on which a signed written consent setting forth the action
taken or proposed to be taken is delivered to the Corporation by delivery to its registered office
in the Republic of The Marshall Islands, its principal place of business or an officer or agent of
the Corporation having custody of the book in which proceedings of meetings of shareholders are
recorded; and when prior action by the Board is required under the Business Corporations Act, the
record date for determining shareholders entitled to consent to corporate action in writing without
a meeting shall be at the close of business on the date on which the Board adopts the resolution
taking such prior action; and (c)&nbsp;the record date for determining shareholders for any other
purpose shall be at the close of business on the day on which the Board adopts the resolution
relating thereto. A determination of shareholders of record entitled to notice of or to vote at a
meeting of the shareholders shall apply to any adjournment of the meeting; provided, however, that
the Board may fix a new record date for the adjourned meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Inspectors of Election</U>. The Corporation may, and at the request of any
shareholder or if required by law shall, before or at each meeting of shareholders, appoint one or
more inspectors of elections to act at the meeting and make a written report thereof. The
Corporation may designate one or more persons as alternate inspectors to replace any inspector who
fails to act. If no inspector or alternate is able to act at a meeting of the shareholders, the
Chairman of the meeting may, and at the request of any shareholder or if required by law shall,
appoint one or more inspectors to act at the meeting. Unless otherwise required by law, inspectors
may be officers, employees or agents of the Corporation. Each inspector, before entering upon the
discharge of his or her duties, shall take and sign an oath to execute faithfully the duties of
inspector with strict impartiality and according to the best of his or her ability. The inspector
or inspectors so appointed or designated shall (i)&nbsp;ascertain the number of outstanding shares of
capital stock of the Corporation and the Voting Power of each such share, (ii)&nbsp;determine the shares
of capital stock of the Corporation represented at the meeting and the validity of proxies and
ballots, (iii)&nbsp;count all votes and ballots, (iv)&nbsp;determine and retain for a reasonable period a
record of the disposition of any challenges made to any determination by the inspectors and (v)
certify their determination of the number of shares of capital stock of the Corporation represented
at the meeting and such inspectors&#146; count of all votes
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and ballots. Such certification and report shall specify such other information as may be
required by law. In determining the validity and counting of proxies and ballots cast at any
meeting of the shareholders of the Corporation, the inspectors may consider such information as is
permitted by applicable law. No person who is a candidate for an office at an election may serve
as an inspector at such election.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Public Announcements</U>. For the purpose of Section&nbsp;8 of this Article&nbsp;II,
&#147;public announcement&#148; shall mean disclosure (a)&nbsp;in a press release reported by the Dow Jones News
Service, Reuters Information Service or any similar or successor news wire service or (b)&nbsp;in a
communication distributed generally to shareholders and in a document publicly filed by the
Corporation with the Securities and Exchange Commission pursuant to Sections&nbsp;13, 14 or 15(d) of the
Exchange Act or any successor provisions thereto.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III<BR>
Board of Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>General Powers</U>. The business of the Corporation shall be managed by or
under the direction of the Board. In addition to the powers and authority herein or by statute
expressly conferred upon them, the directors are hereby empowered to exercise all such powers and
do all such acts and things as may be exercised or done by the Corporation, subject, nevertheless,
to the provisions of applicable law, the Articles of Incorporation and these Bylaws; <B>provided that</B>
no Bylaws hereafter adopted by the shareholders shall invalidate any prior act of the directors
which would have been valid if such Bylaws had not been adopted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Number of Directors</U>. The number of directors of the Corporation shall not
be less nor more than the range specified in the Articles of Incorporation, the exact number of
directors to be such number as may be set from time to time by resolution adopted by affirmative
vote of a majority of the entire Board. As used in these Bylaws, the term &#147;entire Board&#148; means the
total number of directors that the Corporation would have if there were no vacancies or unfilled
newly created directorships.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Election of Directors</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise required by statute or by the Articles of Incorporation,
directors shall be elected by a plurality of the votes cast at a meeting of shareholders by
the holders of shares of the Corporation entitled to vote thereon, voting together as a
single class.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless otherwise determined by the Board, a director shall not be qualified or
eligible for re-election to the Board for a subsequent term if such director has failed to
attend (in person or by conference telephone) at least fifty percent (50%) of the total
number of meetings of the Board and any committees of the Board of which he or she is a
member (other than such failures attributable to the applicable director&#146;s illness, death or
illness in such director&#146;s family or similar circumstance) held during the course of such
director&#146;s then current term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Resignations</U>. Any director of the Corporation may resign at any time, by
giving notice in writing or by electronic transmission to the Board, the Chairman of the Board, the
Chief Executive Officer or the Secretary of the Corporation. Such resignation shall take effect
after receipt of the applicable notice of resignation by the Board, the Chairman of the Board, the
Chief
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Executive Officer or the Secretary of the Corporation at the time specified in such notice or,
if no time is specified, immediately upon receipt of such notice by the Board, the Chairman of the
Board, the Chief Executive Officer or the Secretary of the Corporation. Unless otherwise specified
in such notice, the acceptance of such resignation shall not be necessary to make it effective.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Removal of Directors</U>. Directors may only be removed as provided in the
Articles of Incorporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Newly Created Directorships and Vacancies</U>. Newly created directorships
resulting from any increase in the number of directors and any vacancies on the Board resulting
from death, resignation, removal or other cause shall only be filled as provided in the Articles of
Incorporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Chairman of the Board</U>. The directors shall elect one of their members to
be Chairman of the Board. The Chairman of the Board, if present, shall preside at all meetings of
the shareholders and of the Board. In addition, the Chairman of the Board shall perform such other
duties as may from time to time be assigned by the Board. The Chairman of the Board may or may not
be a senior officer of the Corporation. The Chairman of the Board shall not be an executive
director, unless so specified by his appointment to an additional office within the Corporation.
The Chairman of the Board shall be subject to the control of and may be removed from such office by
the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Annual Meetings</U>. The Board shall meet for the election of officers and the
transaction of other business as soon as practicable after each annual meeting of the shareholders,
and no notice of such meeting shall be necessary in order legally to constitute the meeting;
<B>provided that </B>a quorum is present. Such meeting may be held at any other time or place specified
in a notice given as hereinafter provided for regular meetings of the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Regular Meetings</U>. The Board may hold meetings, both regular and special,
either within or without the Republic of The Marshall Islands. Regular meetings of the Board may
be held at such time and at such place as may from time to time be determined by the Board. The
Secretary, or in his or her absence any other officer of the Corporation, shall give each director
notice of the time and place of holding of regular meetings of the Board by mail at least five days
before the meeting, or by facsimile, telegram, cable, electronic transmission or personal service
at least two days before the meeting, unless such notice requirement is waived in writing or by
electronic transmission by such director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Special Meetings</U>. Special meetings of the Board may be called by the
Chairman of the Board or the Chief Executive Officer, and shall be called by the Secretary of the
Corporation upon the written request of not less than a majority of the members of the Board then
in office. Special meetings of the Board shall be held at such time and place as shall be
designated in the notice of the meeting. The Secretary, or in his or her absence any other officer
of the Corporation, shall give each director notice of the time and place of holding of special
meetings of the Board by mail at least five days before the meeting, or by facsimile, telegram,
cable, electronic transmission or personal service at least two days before the meeting, unless
such notice requirement is waived in writing or by electronic transmission by such director.
Unless otherwise stated in the notice thereof, any and all business shall be transacted at any
meeting without specification of such business in the notice.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Quorum</U>. Except as otherwise required by applicable law, the Articles of
Incorporation or these Bylaws, at all meetings of the Board, a majority of the entire Board shall
constitute a quorum for the transaction of business. If a quorum shall not be present at any
meeting of the Board, a majority of those present may adjourn the meeting from time to time,
without notice other than announcement at the meeting of the time and place of the adjourned
meeting, until a quorum shall be present.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Manner of Acting</U>. Except as otherwise provided by applicable law, the
Articles of Incorporation or these Bylaws, all matters presented to the Board (or a committee
thereof) shall be approved by the affirmative vote of a majority of the directors present at any
meeting of the Board (or such committee) at which there is a quorum (the foregoing is referred to
herein as a &#147;simple majority&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Organization</U>. Meetings shall be presided over by the Chairman of the
Board, or in the absence of the Chairman of the Board, by such other person as the directors may
select. The Board shall keep written minutes of its meetings. The Secretary of the Corporation
shall act as Secretary of the meeting, but in the absence of the Secretary, the Chairman of the
meeting may appoint any person to act as Secretary of the meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14. <U>Action by Written Consent</U>. Unless otherwise required by the Articles of
Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the
Board or of any committee thereof may be taken without a meeting, if all the members of the Board
or committee, as the case may be, consent thereto in writing or by electronic transmission, and the
writing or writings or such electronic transmission or transmissions are filed with the minutes of
proceedings of the Board or committee thereof in accordance with applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;15. <U>Meetings by Electronic Means</U>. Unless otherwise required by the Articles
of Incorporation or these Bylaws, members of the Board, or any committee thereof, may participate
in a meeting of the Board or such committee by means of a conference telephone or other
communications equipment by means of which all persons participating in the meeting can hear each
other. Participation in a meeting pursuant to this Section&nbsp;15 shall constitute presence in person
at such meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16. <U>Compensation</U>. Each director, in consideration of such person serving as a
director, shall be entitled to receive from the Corporation such amount per annum and such fees
(payable in cash or stock-based compensation) for attendance at meetings of the Board or of
committees of the Board, or both, as the Board shall from time to time determine. In addition,
each director shall be entitled to receive from the Corporation reimbursement for the reasonable
expenses incurred by such person in connection with the performance of such person&#146;s duties as a
director. Nothing contained in this Section&nbsp;16 shall preclude any director from serving the
Corporation or any of its subsidiaries in any other capacity and receiving compensation therefor.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IV<BR>
Committees</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Constitution and Powers</U>. Except as otherwise provided by applicable law,
the Articles of Incorporation or these Bylaws, the Board may, by resolution of a simple majority of
its members, designate one or more committees. Each committee shall consist of one or more
directors of the Corporation. Except as provided by applicable law, the Articles of Incorporation
or
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">these Bylaws, the Board, by a simple majority vote of its members, shall have the right from
time to time to delegate to or to remove from any board committee the authority to approve any
matters which would not otherwise require a higher vote than a simple majority vote of the Board.
Except as required by applicable law, the Articles of Incorporation or these Bylaws, for those
matters that require a higher vote of the Board than a simple majority vote, the Board, by such
requisite higher vote, shall have the right from time to time to delegate to or to remove from any
board committee the authority to approve any such matters requiring such requisite higher vote.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Independent Directors&#146; Committee</U>. The Corporation shall have an
Independent Directors&#146; Committee to oversee the Corporation&#146;s and its subsidiaries&#146; accounting and
financial reporting processes, internal systems of control, independent auditor relationships and
audits of consolidated financial statements of the Corporation and its subsidiaries. The
Independent Directors&#146; Committee shall also determine the appointment of the independent auditors
of the Corporation and any change in such appointment and ensure the independence of the
Corporation&#146;s auditors. Furthermore, the Independent Directors&#146; Committee shall oversee and advise
on certain conflicts of interest between the Corporation and the entity that serves as its manager
and such entity&#146;s affiliates. In addition, the Independent Directors&#146; Committee shall assume such
other duties and responsibilities delegated to it by the Board and specified for it under
applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Organization of Committees</U>. The Board may designate one or more directors
as alternate members of any committee, who may replace any absent or disqualified member at any
meeting of such committee. In the absence or disqualification of a member of a committee, the
member or members thereof present at any meeting and not disqualified from voting, whether or not
they constitute a quorum, may unanimously appoint another member of the Board to act at the meeting
in place of any such absent or disqualified member. Each committee that may be established by the
Board may fix its own rules and procedures. All committees so appointed shall keep regular minutes
of the transactions of their meetings and shall be responsible to the Board for the conduct of the
enterprises and affairs entrusted to them. Notice of meetings of committees, other than of regular
meetings provided for by such rules, shall be given to committee members.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE V<BR>
Officers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Officers</U>. The Board shall elect a Chief Executive Officer, a Chief
Financial Officer and a Secretary. The Chief Executive Officer shall be or become a Director. The
Board may elect from time to time such other officers as, in the opinion of the Board, are
desirable for the conduct of the business of the Corporation. Any two or more offices may be held
by the same person; provided, however, that no officer shall execute, acknowledge or verify any
instrument in more than one capacity if such instrument is required by law, the Articles of
Incorporation or these Bylaws to be executed, acknowledged or verified by two or more officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Chief Executive Officer</U>. The Chief Executive Officer shall have
supervisory authority over the business, affairs and property of the Corporation, and over the
activities of the executive officers of the Corporation. The Chief Executive Officer may enter
into and execute in the name of the Corporation, powers of attorney, contracts, bonds and other
obligations which implement policies established by the Board. The Chief Executive Officer shall
have all authority incidental to the office of Chief Executive Officer, shall have such other
authority and perform such other duties as may from time to time be assigned by the Board and shall
report directly to the Board. If so elected by the Board, the Chairman of the Board may be the
Chief Executive Officer.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>President</U>. The President, if elected, shall have general supervision of
the daily business, affairs and property of the Corporation. He shall have all authority
incidental to the office of President and shall have such other authority and perform such other
duties as may from time to time be assigned by the Chief Executive Officer or the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Chief Financial Officer</U>. The Chief Financial Officer shall be the
principal financial and accounting officer of the Corporation and shall have such powers and
perform such duties as may from time to time be assigned by the Chief Executive Officer or the
Board. Without limiting the generality of the foregoing, the Chief Financial Officer may sign and
execute contracts and other obligations pertaining to the regular course of his or her duties which
implement policies established by the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Secretary</U>. The Secretary shall act as Secretary of all meetings of the
shareholders and of the Board; shall keep the minutes thereof in the proper book or books to be
provided for that purpose; shall see that all notices required to be given by the Corporation in
connection with meetings of shareholders and of the Board are duly given; shall be the custodian of
the seal of the Corporation and shall affix the seal or cause it or a facsimile thereof to be
affixed to all certificates for stock of the Corporation and to all documents or instruments
requiring the same, the execution of which on behalf of the Corporation is duly authorized in
accordance with the provisions of these Bylaws; shall have charge of the stock records and also of
the other books, records and papers of the Corporation relating to its organization and acts as a
corporation, and shall see that the reports, statements and other documents related thereto
required by law are properly kept and filed, all of which shall, at all reasonable times, be open
to the examination of any director for a purpose reasonably related to such director&#146;s position as
a director; and shall, in general, have all authority incident to the office of Secretary and such
other authority and perform such other duties as may from time to time be assigned by the Chief
Executive Officer or the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Vice Presidents</U>. The Vice Presidents, if elected, shall have such powers
and shall perform such duties as may from time to time be assigned to them by the Chief Executive
Officer or the Board. Without limiting the generality of the foregoing, Vice Presidents may enter
into and execute in the name of the Corporation contracts and other obligations pertaining to the
regular course of their duties which implement policies established by the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Treasurer</U>. If elected, the Treasurer shall, if required by the Chief
Executive Officer or the Board, give a bond for the faithful discharge of duties, in such sum and
with such sureties as may be so required. Unless the Board otherwise declares by resolution, the
Treasurer shall have custody of, and be responsible for, all funds and securities of the
Corporation; receive and give receipts for money due and payable to the Corporation from any source
whatsoever; deposit all such money in the name of the Corporation in such banks, trust companies or
other depositories as the Board may designate; against proper vouchers, cause such funds to be
disbursed by check or draft on the authorized depositories of the Corporation signed in such manner
as shall be determined by the Board, and be responsible for the accuracy of the amounts of all
funds so disbursed; regularly enter or cause to be entered in books to be kept by the Treasurer or
under the Treasurer&#146;s direction, full and adequate accounts of all money received and paid by the
Treasurer for the account of the Corporation; render to the Board, any duly authorized committee of
directors or the Chief Executive Officer, whenever they or any of them, respectively, shall require
the Treasurer to do so, an account of the financial condition of the Corporation and of all
transactions of the Treasurer; and, in general, have all authority incident to the office of
Treasurer and such other authority and perform such other duties as may from time to time be
assigned by the Chief Executive Officer or the Board. Any
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Assistant Treasurer shall, in the absence or disability of the Treasurer, perform the duties
and exercise the powers of the Treasurer and shall have such other duties and have such other
powers as the Board may from time to time prescribe.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Assistant Treasurers, Assistant Controllers and Assistant Secretaries</U>. Any
Assistant Treasurers, Assistant Controllers and Assistant Secretaries, if elected, shall perform
such duties as from time to time shall be assigned to them by the Chief Executive Officer or the
Board or by the Treasurer, Controller or Secretary, respectively. An Assistant Treasurer,
Assistant Controller or Assistant Secretary need not be an officer of the Corporation and shall not
be deemed an officer of the Corporation unless elected by the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Removal</U>. Any officer may be removed, either with or without cause, by the
Board at any meeting thereof or by any superior officer upon whom such power may be conferred by
the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Resignation</U>. Any officer may resign at any time by giving notice to the
Board, the Chairman of the Board, the Chief Executive Officer or the Secretary of the Corporation
in writing or by electronic transmission. Any such resignation shall take effect at the time
therein specified or if no time is specified, immediately. Unless otherwise specified in such
notice, the acceptance of such resignation shall not be necessary to make it effective.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Vacancies</U>. A vacancy in any office because of death, resignation,
removal, disqualification or any other cause may be filled at any time by the Board, or if such
officer was appointed by the Chief Executive Officer, then by the Chief Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Bank Accounts</U>. In addition to such bank accounts as may be authorized in
the usual manner by resolution of the Board, the Chief Financial Officer or the Treasurer, with
approval of the Chief Executive Officer, may authorize such bank accounts to be opened or
maintained in the name and on behalf of the Corporation as the Chief Executive Officer shall deem
necessary or appropriate; <B>provided that </B>payments from such bank accounts are to be made upon and
according to the check of the Corporation as shall be specified in the written instructions of the
Chief Financial Officer or the Treasurer or Assistant Treasurer of the Corporation with the
approval of the Chief Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Voting of Stock Held</U>. Unless otherwise provided in the Articles of
Incorporation or directed by the Board, the Chief Executive Officer may from time to time
personally or by an attorney or attorneys or agent or agents of the Corporation, in the name and on
behalf of the Corporation, cast the votes which the Corporation may be entitled to cast as a
shareholder or otherwise in any other corporation, limited liability company, partnership, trust or
legal entity (&#147;<B>Person</B>&#148;) any of the stock or securities of which may be held by the Corporation, at
meetings of the holders of the stock or other securities of such Person, or consent in writing to
any action by any such Person, and may instruct any person or persons so appointed as to the manner
of casting such votes or giving such consent, and may execute or cause to be executed on behalf of
the Corporation and under its corporate seal, or otherwise, such written proxies, consents, waivers
or other instruments as the Secretary may deem necessary or proper in the premises; or may attend
any meeting of the holders of stock or other securities of any such Person and thereat vote or
exercise any or all other powers of the Corporation as the holder of such stock or other securities
of such Person.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VI<BR>
Capital Stock</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Common Stock</U>. The Common Stock of the Corporation shall be
uncertificated and ownership thereof shall be recorded exclusively on the books of the transfer
agent or registrar for the Common Stock, or, if there is no such transfer agent or registrar, on
the books of the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Class&nbsp;B Stock</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Every holder of Class&nbsp;B Stock of the Corporation shall be entitled to have a
certificate signed, in the name of the Corporation (i)&nbsp;by the Chairman of the Board or any
of the Vice Presidents and (ii)&nbsp;by the Treasurer or an Assistant Treasurer, or the Secretary
or an Assistant Secretary of the Corporation, certifying the number of shares owned by him
or her in the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any or all signatures on the certificate may be a facsimile. In case an officer,
transfer agent or registrar that has signed or whose facsimile signature has been placed
upon a certificate shall have ceased to be such officer, transfer agent or registrar before
such certificate is issued, it may be issued by the Corporation with the same effect as if
he or she were such officer, transfer agent or registrar at the date of issue.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Board may direct a new certificate to be issued in place of any certificate
theretofore issued by the Corporation alleged to have been lost, stolen or destroyed, upon
the making of an affidavit of the fact by the person claiming the certificate of stock to be
lost, stolen or destroyed. When authorizing such issue of a new certificate the Board may,
in its discretion and as a condition precedent to the issuance thereof, require the owner of
such lost, stolen or destroyed certificate, or his or her legal representative, to advertise
the same in such manner as the Board shall require and/or to give the Corporation a bond in
such sum as it may direct as indemnity against any claim that may be made against the
Corporation and its transfer agents and registrars with respect to the certificate alleged
to have been lost, stolen or destroyed or the issuance of such new certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Transfers of certificated stock</U>. Transfers of certificated stock shall be
made on the books of the Corporation only by the person named in the certificate or by such
person&#146;s duly authorized attorney appointed by a power of attorney duly executed and filed with the
Secretary of the Corporation or a transfer agent of the Corporation, and upon surrender of the
certificate or certificates for such stock properly endorsed. Every certificate exchanged,
returned or surrendered shall be marked &#147;Canceled&#148;, with the date of cancellation, by the Secretary
or an Assistant Secretary of the Corporation or the transfer agent thereof. No transfer of stock
shall be valid as against the Corporation, its shareholders or creditors for any purpose until it
shall have been entered in the stock records of the Corporation by an entry showing from and to
whom transferred.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Transfer Agent and Registrar</U>. The Board may appoint one or more transfer
agents and one or more registrars and may require all certificates for shares to bear the manual or
facsimile signature or signatures of any of them.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Beneficial Owners</U>. The Corporation shall be entitled to recognize the
exclusive right of a person registered on its books as the owner of shares to receive dividends,
and to
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-13-<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">vote as such owner, and to hold liable for calls and assessments a person registered on its
books as the owner of shares, and shall not be bound to recognize any equitable or other claim to
or interest in such share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise required by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Regulations</U>. Except as otherwise provided by applicable law or in the
Articles of Incorporation, the Board shall have the power and authority to make all such rules and
regulations as it may deem expedient concerning the issue, transfer, registration, cancellation and
replacement of certificates representing stock of the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Dividends</U>. Dividends upon the capital stock of the Corporation, subject to
the provisions in the Articles of Incorporation, may be declared by the Board at any regular or
special meeting, and may be paid in cash, in property or in securities of the Corporation. Before
payment of any dividend, there may be set aside out of any funds of the Corporation available for
dividends such sum or sums as the Board from time to time, in its absolute discretion, deems proper
as a reserve or reserves to meet contingencies, or for purchasing any of the shares of capital
stock, warrants, rights, options, bonds, debentures, notes, scrip or other securities or evidences
of indebtedness of the Corporation, or for equalizing dividends, or for repairing or maintaining
any property of the Corporation, or for any proper purpose, and the Board may modify or abolish any
such reserve.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VII<BR>
Indemnification</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Directors&#146; Indemnification</U>. The Corporation shall indemnify and hold
harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter
be amended, any person that was or is made or is threatened to be made a party or is otherwise
involved in any action, suit or proceeding, whether civil, criminal, administrative, legislative or
investigative (collectively, a &#147;<B>Proceeding</B>&#148;), by reason of the fact that such person is or was a
director or officer of the Corporation or, while a director or officer of the Corporation, is or
was serving at the request of the Corporation as a director, officer, employee or agent of another
corporation or of a partnership, joint venture, trust, enterprise or nonprofit entity, including
service with respect to employee benefit plans, against all liability and loss suffered and
expenses (including attorneys&#146; fees) reasonably incurred by such person in connection with such
proceeding or any claim made in connection therewith. Such right of indemnification shall inure
whether or not the claim asserted is based on matters which antedate the adoption of this Section&nbsp;1
of Article&nbsp;VII. Subject to the first sentence of the next paragraph, the Corporation shall be
required to indemnify or make advances to a person in connection with a Proceeding (or part
thereof) initiated by such person only if the initiation of such Proceeding (or part thereof) was
authorized by the Board or reasonably necessary to the effective defense of another Proceeding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Corporation shall pay the expenses (including attorneys&#146; fees) incurred by any person that
is or was a director or officer of the Corporation or, while a director or officer of the
Corporation, is or was serving at the request of the Corporation as a director, officer, employee
or agent of another corporation or of a partnership, joint venture, trust, enterprise or nonprofit
entity, in defending any Proceeding in advance of its final disposition; <B>provided that </B>the payment
of expenses incurred by such a person in defending any Proceeding in advance of its final
disposition shall be made only upon receipt of an undertaking by such person to repay all amounts
advanced if it should be ultimately determined that such person is not entitled to be indemnified
under this Section&nbsp;1 of Article&nbsp;VII or otherwise. If a claim for indemnification after the final
disposition of the Proceeding
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">is not paid in full within 90 calendar days after a written claim therefor has been received
by the Corporation or if a claim for payment of expenses under this Section&nbsp;1 of Article&nbsp;VII is not
paid in full within 20 calendar days after a written claim therefor has been received by the
Corporation, the claimant may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The rights conferred on any person by this Section&nbsp;1 of Article&nbsp;VII shall not be exclusive of
any other rights which such person may have or hereafter acquire under any statute, the Articles of
Incorporation, these Bylaws, agreement, vote of shareholders or resolution of disinterested
directors or otherwise. The Corporation&#146;s obligation, if any, to indemnify any person that was or
is serving at its request as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust, enterprise or nonprofit entity shall be reduced by any amount
such person may collect as indemnification from such other corporation, partnership, joint venture,
trust, enterprise or nonprofit entity, as applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any amendment, modification or repeal of the foregoing provisions of this Section&nbsp;1 of Article
VII shall not adversely affect any right or protection hereunder of any person in respect of any
act or omission occurring prior to the time of such amendment, modification or repeal.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Survival of Indemnification and Advancement of Expenses</U>. The
indemnification and advancement of expenses provided by or granted pursuant to this Article&nbsp;VII
shall continue as to a person who has ceased to be a director, officer, employee or agent of the
Corporation or other person indemnified hereunder and shall inure to the benefit of the successors,
assigns, heirs, executors and administrators of such person.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VIII<BR>
General Provisions</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Books and Records</U>. The books and records of the Corporation may be kept at
such places within or without the Republic of The Marshall Islands as the Board may from time to
time determine and may be kept on, or be in the form of, punch cards, magnetic tape, photographs,
microphotographs or any other information storage device, provided that the records so kept can be
converted into clearly legible form within a reasonable time. The Corporation shall so convert any
records so kept upon the request of any person entitled to inspect the same.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Seal</U>. The Board shall approve a corporate seal which shall be in the form
of a circle and shall bear the name of the Corporation and the year of its incorporation. The seal
may be used by causing it or a facsimile thereof to be impressed, affixed or reproduced or
otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Fiscal Year</U>. The fiscal year of the Corporation shall be determined and
may be changed by resolution of the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Notices and Waivers Thereof</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Whenever notice is required by applicable law, the Articles of Incorporation or
these Bylaws to be given to any director, member of a committee or shareholder, such notice
may be given personally, by mail or as otherwise permitted by law, or in the case of
directors or officers, by facsimile transmission or other electronic transmission, addressed
to such address as appears on the books of the Corporation. Any notice given by facsimile
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-15-<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">transmission shall be deemed to have been given upon confirmation of receipt by the
addressee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Whenever any notice is required by applicable law, the Articles of Incorporation or
these Bylaws, to be given to any director, member of a committee or shareholder, a waiver
thereof given by the person or persons entitled to said notice, whether before or after the
time stated therein, shall be deemed equivalent to notice. Attendance of a person at a
meeting, present in person or represented by proxy, shall constitute a waiver of notice of
such meeting, except where the person attends the meeting for the express purpose of
objecting at the beginning of the meeting to the transaction of any business because the
meeting is not lawfully called or convened. Neither the business to be transacted at, nor
the purpose of, any regular or special meeting of the shareholders, directors or members of
a committee of directors needs to be specified in any waiver of notice unless so required by
applicable law, the Articles of Incorporation or these Bylaws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Amendments</U>. These Bylaws may be amended only as set forth in the Articles
of Incorporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Saving Clause</U>. These Bylaws are subject to the provisions of the Articles
of Incorporation and applicable law. If any provision of these Bylaws is inconsistent with the
Articles of Incorporation, the Business Corporations Act, or the New York Stock Exchange Listing
Standards, such provision shall be invalid only to the extent of such conflict, and such conflict
shall not affect the validity of any other provision of these Bylaws.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-16-<!-- /Folio -->
</DIV>




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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>8
<FILENAME>y91492exv5w1.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv5w1</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Watson, Farley &#038; Williams (New York) LLP</B><BR>
1133 Avenue of the Americas<BR>
New York, New York 10036<BR>
Tel (212)&nbsp;922 2200<BR>
Fax (212)&nbsp;922 1512
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital Product Partners L.P.<BR>
3 Iassonos Street<BR>
Piraeus 18537<BR>
Greece

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Merger of Poseidon Project Corp. with and into Crude Carriers Corp.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sirs:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have acted as special counsel as to matters of the law of the Republic of The Marshall Islands
(&#147;<B>Marshall Islands Law</B>&#148;) for Capital Product Partners L.P., a Marshall Islands limited partnership
(the &#147;<B>Partnership</B>&#148;), in connection with the merger of Poseidon Project Corp., a Marshall Islands
corporation and a wholly-owned subsidiary of the Partnership (&#147;<B>Poseidon</B>&#148;), with and into Crude
Carriers Corp., a Marshall Islands corporation (&#147;<B>Crude</B>&#148;). In the merger, each share of common
stock of Crude, par value $0.0001 per share (&#147;<B>Crude Common Stock</B>&#148;), and each share of Class&nbsp;B stock
of Crude, par value $0.0001 per share (&#147;<B>Class&nbsp;B Stock</B>&#148;), will be converted into the right to
receive 1.56 common units of the Partnership (the &#147;<B>Common Units</B>&#148;). The Common Units are being
issued by the Partnership pursuant to the Partnership&#146;s Registration Statement on Form F-4 (the
&#147;<B>Registration Statement</B>&#148;) filed with the U.S. Securities and Exchange Commission pursuant to the
Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;), and the prospectus included therein (the
&#147;<B>Prospectus</B>&#148;). Following completion of the merger of Poseidon with and into Crude, Crude will
become a wholly-owned subsidiary of the Partnership.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As counsel, we have examined originals or copies (certified or otherwise identified to our
satisfaction) of the following documents:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Registration Statement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Prospectus;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Merger Agreement dated May&nbsp;5, 2011 (the &#147;<B>Merger Agreement</B>&#148;) among Crude, Poseidon, the
Partnership and Capital GP L.L.C., a Marshall Islands limited liability company and the
general partner (the &#147;<B>General Partner</B>&#148;) of the Partnership, which has been filed as an exhibit
to the Registration Statement; and</TD>
</TR>

</TABLE>
</DIV>
<HR size="1" width="100%" align="left">
<DIV align="left" style="font-size: 8pt; margin-top: 6pt">London
<b>&#149;</b> New York <b>&#149;</b> Paris <b>&#149;</b> Hamburg <b>&#149;</b> Munich <b>&#149;</b> Rome
<b>&#149;</b> Milan <b>&#149;</b> Madrid <b>&#149;</b> Athens <b>&#149;</b> Piraeus <b>&#149;</b>
Singapore <b>&#149;</b> Bangkok
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">Watson, Farley &#038; Williams (New York) LLP is a limited liability partnership registered in England
and Wales with registered number OC312253. It is regulated by the Solicitors Regulation&nbsp;Authority
and its members are solicitors or registered foreign lawyers. A list of members of Watson, Farley
&#038; Williams (New York) LLP and their professional qualifications is open to inspection at the above
address. Any reference to a &#145;partner&#146; means a member of Watson, Farley &#038; Williams (New York) LLP,
or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent
standing and qualification.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">Watson, Farley &#038; Williams (New York) LLP or an affiliated undertaking has an office in each of the
cities listed above.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Capital Product Partners L.P.
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 2</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2011</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such other papers, documents, agreements and certificates of public officials and
representatives of the Partnership, the General Partner, Crude and Poseidon as we have deemed
relevant and necessary as the basis for the opinion hereafter expressed.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In such examination, we have assumed (i)&nbsp;the legal capacity of each natural person, (ii)&nbsp;the
genuineness of all signatures and the authenticity of all documents submitted to us as originals,
(iii)&nbsp;the conformity to original documents of all documents submitted to us as conformed or
photostatic copies, (iv)&nbsp;that there have been no undisclosed modifications, either written, verbal
or otherwise, of any provision of any document reviewed by us in connection with the rendering of
the opinion set forth herein, (v)&nbsp;the completeness of each document submitted to us and (vi)&nbsp;the
truthfulness of each statement as to all factual matters contained in any document or certificate
encompassed within the due diligence review undertaken by us. In rendering this opinion, we have
also assumed that the Common Units shall be issued in compliance with (a)&nbsp;the Securities Act, (b)
all other applicable U.S. federal and state securities and other laws, and (c)&nbsp;the terms,
conditions and restrictions set forth in the Registration Statement, the Prospectus, the Merger
Agreement and all of the instruments and other documents relating thereto or executed in connection
therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As to matters of fact material to this opinion that have not been independently established, we
have relied upon the aforesaid certificates and the representations and warranties of each of the
Partnership, the General Partner, Crude and Poseidon contained in the Merger Agreement. We have
not independently verified the facts so relied on.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This opinion letter is limited to Marshall Islands Law. We expressly disclaim any responsibility
to advise of any development or circumstance of any kind, including any change of law or fact that
may occur after the date of this opinion letter that might affect the opinion expressed herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based on the foregoing, and having regard to legal considerations which we deem relevant, and
subject to the qualifications, limitations and assumptions set forth herein, we are of the opinion
that when the Common Units are issued and delivered in exchange for shares of Crude Common Stock
and Class&nbsp;B Stock in accordance with the terms of the Registration Statement, the Prospectus and
the Merger Agreement, the Common Units will be validly issued, fully paid and nonassessable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent to the filing of this opinion as Exhibit&nbsp;5.1 to the Registration Statement and to the
references to our firm in the Registration Statement and the Prospectus. In giving this consent,
we do not hereby admit that we are in the category of persons whose consent is required under
Section&nbsp;7 of the Securities Act, or the rules and regulations promulgated thereunder, nor do we
admit that we are experts with respect to any part of the Registration Statement within the meaning
of the term &#147;expert&#148; as used in the Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Very truly yours,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Watson, Farley &#038; Williams (New York) LLP</B>

</DIV>

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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>9
<FILENAME>y91492exv8w1.htm
<DESCRIPTION>EX-8.1
<TEXT>
<HTML>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;8.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">June&nbsp;9, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Crude Carriers<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Iassonos Street<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Piraeus 18537, Greece

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as United States federal income tax counsel to Crude Carriers Corp.
(&#147;Crude&#148;), a Marshall Islands corporation, in connection with the proposed merger (the &#147;Merger&#148;) of
Poseidon Project Corp. (&#147;Poseidon&#148;), a Marshall Islands corporation that is a wholly owned
subsidiary of Capital Product Partners L.P. (&#147;CPLP&#148;), a Marshall Islands limited
partnership, with and into Crude, pursuant to the Agreement and Plan of Merger (the &#147;Agreement&#148;)
dated as of May&nbsp;5, 2011, among Crude, Poseidon, CPLP, and Capital GP L.L.C., a Marshall
Islands limited liability company. Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Agreement. At your request, and in connection with the filing of
the Form F-4 (as amended or supplemented through the date hereof, the &#147;Registration Statement&#148;),
including the prospectus forming a part thereof, we are rendering our opinion concerning certain
United States federal income tax matters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In providing our opinion, we have examined the Agreement, the Registration Statement, the
prospectus forming a part thereof (as amended or supplemented through the date hereof), and such
other documents as we have deemed necessary or appropriate for purposes of our opinion. In
addition, we have assumed that (i)&nbsp;the transaction will be consummated in accordance with the
provisions of the Agreement and as described in the Registration Statement (and no transaction or
condition described therein and affecting this opinion will be waived by any party to the
Agreement), (ii)&nbsp;the statements concerning the transaction and the parties thereto set forth in the
Agreement and the Registration Statement are true, complete and correct, and will remain true,
complete and correct at all times up to and including the Effective Time and thereafter (where
relevant), (iii)&nbsp;any statements made in the Agreement or the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">-2-
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registration Statement regarding the &#147;belief&#148; of any person are true, complete and correct, and will remain true, complete and correct
at all times up to and including the Effective Time and thereafter (where relevant), in each case
as if made without such qualification, and (iv)&nbsp;the parties to the Agreement have complied with,
and, if applicable, will continue to comply with, the covenants contained in the Agreement. If any
of the above described assumptions are untrue for any reason or if the transaction is consummated
in a manner that is different from the manner described in the Agreement or the Registration
Statement, our opinion as expressed below may be adversely affected.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby confirm to you that, in our opinion, insofar as they purport to describe provisions
of United States federal income tax law, the statements set forth under the caption &#147;Material
United States Federal Income Tax Consequences&#148; in the Registration Statement are, subject to the
qualifications, exceptions, assumptions and limitations contained therein, accurate in all material
respects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion as an exhibit to the Registration Statement
and to the references therein to us. In giving this consent, we do not hereby admit that we are
within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act of
1933, as amended, or the rules and regulations of the Securities and Exchange Commission
thereunder.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="98%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Very truly yours,</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="white-space: nowrap">/s/ Sullivan &#038; Cromwell LLP</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.2
<SEQUENCE>10
<FILENAME>y91492exv8w2.htm
<DESCRIPTION>EX-8.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv8w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;8.2</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">June&nbsp;9, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital Product Partners, L.P.<BR>
3 Iassonos Street<BR>
18537 Piraeus, Greece

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration Statement on Form&nbsp;F-4
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as special United States federal income tax counsel to Capital Product Partners,
L.P., a Marshall Islands limited partnership (&#147;<B>CPLP</B>&#148;), in connection with the filing of a
registration statement on Form F-4 (the &#147;<B>Registration Statement</B>&#148;), filed with the Securities and
Exchange Commission (the &#147;<B>Commission</B>&#148;) under the Securities Act of 1933, as amended (the &#147;<B>Act</B>&#148;),
relating to the merger of Poseidon Project Corp., a Marshall Islands corporation (&#147;<B>Poseidon</B>&#148;) that
is wholly owned by CPLP, with and into Crude Carriers Corp. a Marshall Islands corporation
(&#147;<B>Crude</B>&#148;), as set forth in the Registration Statement and the form of joint proxy
statement/prospectus contained therein (the &#147;<B>Prospectus</B>&#148;) and you have requested our opinion
regarding the accuracy of certain information set forth in the section &#147;The Merger&#148; under the
caption &#147;Material Federal Income Tax Consequences to Crude Shareholders.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In rendering our opinion, we have examined the Registration Statement, Agreement and Plan of
Merger, dated as of May&nbsp;5, 2011 by and among Crude, Poseidon, CPLP and Capital GP L.L.C., a
Marshall Islands limited liability company and such other documents, agreements, and instruments as
we have deemed necessary or appropriate and have made such legal and factual inquiries as we have
deemed necessary as a basis for our opinions set forth below. We have also assumed, without making
any independent investigation, that all documents as furnished to us are complete and authentic,
that the signatures on all documents are genuine, that all such documents have been, or in the case
of drafts, will be, duly authorized, executed and delivered, and the legal capacity of all natural
persons.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apart from establishing that the facts, assumptions, warranties, statements, and
representations set forth herein or contained in the Registration Statement are not in our view
unreasonable, we have not independently verified any of such facts, assumptions, warranties,
statements or representations. Our opinion is explicitly conditioned upon the accuracy of the
facts, assumptions, warranties, statements, and representations set forth herein and in the
Registration Statement, and upon the accuracy and completeness of the Registration Statement. In
addition, if any representations made to us are qualified by statements such as &#147;to the knowledge
of,&#148; &#147;to the best knowledge of,&#148; &#147;anticipated&#148; or &#147;reasonably expected,&#148; we have assumed such
representations to be true and correct without such qualification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with this opinion letter, we have made no special investigation or review of any
laws, regulations or judicial or administrative decisions, other than a review of the current
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital Product Partners, L.P.<BR>
June&nbsp;9, 2011<BR>
Page 2

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provisions of the Internal Revenue Code of 1986, as amended (the &#147;<B>Code</B>&#148;), applicable Treasury
regulations currently promulgated under the Code (the &#147;<B>Regulations</B>&#148;), and current judicial and
administrative authority (including published revenue rulings and revenue procedures) with respect
thereto (collectively referred to as the &#147;<B>U.S. Tax Law</B>&#148;). We have made no investigation or review
of any matters relating to CPLP or any other person other than as expressly set forth herein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the facts, assumptions, and representations set forth herein, in the Registration
Statement and subject to the assumptions, exceptions, qualifications, and limitations set forth
herein, it is our opinion that to the extent that it describes provisions of U.S. federal tax law,
the discussion in the Prospectus in the section &#147;The Merger&#148; under the caption &#147;Material United
States Federal Income Tax Consequences to Crude Shareholders,&#148; subject to the qualifications,
assumptions and limitations set forth in the introductory language under the caption &#147;Material
United States Federal Income Tax Consequences to Crude Shareholders,&#148; is correct in all material
respects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The opinion and other matters in this letter are qualified in their entirety and subject to
the following:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We express no opinion as to any laws other than the U.S. Tax Law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">B.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The opinion expressed herein is as of the date hereof. Any change in the U.S.
Tax Law (including pursuant to any legislation which Congress may be currently
considering), which may change at any time with retroactive or prospective effect and
which is subject to differing interpretation, or any change in the facts,
representations or documents upon which the opinion expressed herein is based, could
change our conclusions and render the opinion expressed herein inapplicable. We
undertake no obligation to advise you of any facts or circumstances that may come to
our attention, any new developments in the law or in the application or interpretation
of the Federal income tax laws, or any other change in legal authorities that may occur
after the date of this opinion letter, that may affect the opinion expressed herein or
to update the opinion expressed herein in the event that there is a change in the legal
authorities, facts or documents upon which the opinion expressed herein is based.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">C.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This opinion represents and is based upon our best legal judgment regarding the
application of relevant current provisions of the Code and the Regulations, and
interpretations of the foregoing as expressed in existing court decisions,
administrative determinations (including the practices and procedures of the Internal
Revenue Service (the &#147;<B>IRS</B>&#148;) in issuing private letter rulings, which are not binding on
the IRS except with respect to the taxpayer that receives such a</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital Product Partners, L.P.<BR>
June&nbsp;9, 2011<BR>
Page 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ruling) and published rulings and procedures all as of the date hereof. An opinion
of counsel merely represents counsel&#146;s best judgment with respect to the probable
outcome on the merits and is not binding on the IRS or the courts. There can be no
assurance that positions contrary to our opinion will not be taken by the IRS, or
that a court considering the issues would not hold contrary to our opinion. CPLP
has not requested a ruling from the IRS (and no ruling will be sought) as to any of
the Federal income tax consequences addressed in this opinion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">D.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The opinion expressed herein is limited to the matters expressly stated herein
and no opinion is to be inferred or may be implied beyond the tax opinion expressly set
forth above. This letter does not address any other Federal, state, local or foreign
tax consequences.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">E.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No opinion is expressed if all of the representations, warranties, statements
and assumptions upon which we relied are not true and accurate at all relevant times.
In the event any one of the statements, representations, warranties or assumptions upon
which we have relied to issue this opinion is incorrect, our opinion might be adversely
affected and may not be relied upon.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion is rendered only to you and is solely for your benefit in connection with the
filing of the Registration Statement. This opinion may not be quoted, in whole or in part, or
otherwise referred to in any document, and may not be furnished or otherwise disclosed to or relied
upon or otherwise used by any other person, without our prior written consent, which may be granted
or withheld in our discretion, except that this opinion may be relied upon by persons entitled to
rely on it pursuant to applicable provisions of federal securities law. We consent to the filing
of this opinion as an exhibit to the Registration Statement and to the references to Akin Gump
Strauss Hauer &#038; Feld LLP therein. In giving this consent, we do not thereby admit that we are
within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act, or
the rules and regulations of the Commission. This opinion is expressed as of the date hereof, and
we are under no obligation to supplement or revise our opinion to reflect any legal developments or
factual matters arising subsequent to the date hereof, or the impact of any information, document,
certificate, record, statement, representation, covenant, or assumption relied upon herein that
becomes incorrect or untrue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Very truly yours,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">/s/ AKIN GUMP STRAUSS HAUER &#038; FELD LLP

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.3
<SEQUENCE>11
<FILENAME>y91492exv8w3.htm
<DESCRIPTION>EX-8.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv8w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;8.3</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Watson, Farley &#038; Williams (New York) LLP</B><BR>
1133 Avenue of the Americas<BR>
New York, New York 10036<BR>
Tel (212)&nbsp;922 2200<BR>
Fax (212)&nbsp;922 1512
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">June&nbsp;9, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital Product Partners L.P.<BR>
3 Iassonos Street<BR>
Piraeus 18537<BR>
Greece

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Merger of Poseidon Project Corp. with and into Crude Carriers Corp.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sirs:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have acted as special counsel as to matters of the law of the Republic of The Marshall Islands
(&#147;<B>Marshall Islands Law</B>&#148;) for Capital Product Partners L.P., a Marshall Islands limited partnership
(the &#147;<B>Partnership</B>&#148;), in connection with the merger of Poseidon Project Corp., a Marshall Islands
corporation and a wholly-owned subsidiary of the Partnership (&#147;<B>Poseidon</B>&#148;), with and into Crude
Carriers Corp., a Marshall Islands corporation (&#147;<B>Crude</B>&#148;). In the merger, each share of common
stock of Crude, par value $0.0001 per share, and each share of Class&nbsp;B stock of Crude, par value
$0.0001 per share, will be converted into the right to receive 1.56 common units of the Partnership
(the &#147;<B>Common Units</B>&#148;). The Common Units are being issued by the Partnership pursuant to the
Partnership&#146;s Registration Statement on Form F-4 (the &#147;<B>Registration Statement</B>&#148;) filed with the U.S.
Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the
&#147;<B>Securities Act</B>&#148;), and the prospectus included therein (the &#147;<B>Prospectus</B>&#148;). Following completion of
the merger of Poseidon with and into Crude, Crude will become a wholly-owned subsidiary of the
Partnership.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As counsel, we have examined originals or copies (certified or otherwise identified to our
satisfaction) of the following documents:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Registration Statement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Prospectus; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Merger Agreement dated May&nbsp;5, 2011 among Crude, Poseidon, the Partnership and Capital GP
L.L.C., a Marshall Islands limited liability company and the general partner (the &#147;<B>General
Partner</B>&#148;) of the Partnership, which has been filed as an exhibit to the Registration
Statement; and</TD>
</TR>

</TABLE>
</DIV>
<HR size="1" width="100%" align="left">
<DIV align="left" style="font-size: 8pt; margin-top: 6pt">London <b>&#149;</b> New York <b>&#149;</b> Paris <b>&#149;</b> Hamburg <b>&#149;</b> Munich <b>&#149;</b> Rome <b>&#149;</b>
Milan <b>&#149;</b> Madrid <b>&#149;</b> Athens <b>&#149;</b> Piraeus <b>&#149;</b> Singapore <b>&#149;</b> Bangkok
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">Watson, Farley &#038; Williams (New York) LLP is a limited liability partnership registered in England
and Wales with registered number OC312253. It is regulated by the Solicitors Regulation&nbsp;Authority
and its members are solicitors or registered foreign lawyers. A list of members of Watson, Farley &#038;
Williams (New York) LLP and their professional qualifications is open to inspection at the above
address. Any reference to a &#145;partner&#146; means a member of Watson, Farley &#038; Williams (New York) LLP,
or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent
standing and qualification.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">Watson, Farley &#038; Williams (New York) LLP or an affiliated undertaking has an office in each of the
cities listed above.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Capital Product Partners L.P.
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 2</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">June&nbsp;9, 2011</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such other papers, documents, agreements and certificates of public officials and
representatives of the Partnership, the General Partner, Crude and Poseidon as we have deemed
relevant and necessary as the basis for the opinion hereafter expressed.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In such examination, we have assumed (i)&nbsp;the legal capacity of each natural person, (ii)&nbsp;the
genuineness of all signatures and the authenticity of all documents submitted to us as originals,
(iii)&nbsp;the conformity to original documents of all documents submitted to us as conformed or
photostatic copies, (iv)&nbsp;that there have been no undisclosed modifications, either written, verbal
or otherwise, of any provision of any document reviewed by us in connection with the rendering of
the opinion set forth herein, (v)&nbsp;the completeness of each document submitted to us and (vi)&nbsp;the
truthfulness of each statement as to all factual matters contained in any document or certificate
encompassed within the due diligence review undertaken by us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As to matters of fact material to this opinion that have not been independently established, we
have relied upon the aforesaid certificates. We have not independently verified the facts so
relied on.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This opinion letter is limited to Marshall Islands Law. We expressly disclaim any responsibility
to advise of any development or circumstance of any kind, including any change of law or fact that
may occur after the date of this opinion letter that might affect the opinion expressed herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based on the facts as set forth in the Registration Statement and the Prospectus, and having regard
to legal considerations which we deem relevant, and subject to the qualifications, limitations and
assumptions set forth herein, we hereby confirm that we have reviewed the discussion set forth in
the Prospectus under the caption &#147;Marshall Islands Tax Considerations&#148; and we confirm that the
statements in such discussion, to the extent they constitute summaries of law or legal conclusions,
unless otherwise noted, are the opinion of Watson, Farley &#038; Williams (New York) LLP with respect to
such matters as of the date of effectiveness of the Registration Statement and accurately state our
views as to the tax matters discussed therein (except for the representations and statements of
fact of the Partnership included under such caption, as to which we express no opinion).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent
to the filing of this opinion as Exhibit&nbsp;8.3 to the Registration Statement and to the
references to our firm in the Registration Statement and the Prospectus. In giving this consent,
we do not hereby admit that we are in the category of persons whose consent is required under
Section&nbsp;7 of the Securities Act, or the rules and regulations promulgated thereunder, nor do we
admit that we are experts with respect to any part of the Registration Statement within the meaning
of the term &#147;expert&#148; as used in the Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Very truly yours,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>/s/ Watson, Farley &#038; Williams (New York) LLP</B>

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>12
<FILENAME>y91492exv23w1.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;23.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent to the incorporation by reference in the Registration Statement on Form F-4 of Capital
Product Partners L.P. (the &#147;Partnership&#148;) of our reports dated February&nbsp;4, 2011, relating to the
consolidated financial statements of the Partnership (which report expresses an unqualified opinion
and includes explanatory paragraphs relating to: 1) the preparation of the portion of the financial
statements attributable to the Ross Shipmanagement Co., Baymont Enterprises Incorporated, Forbes
Maritime Co., Mango Finance Co., Navarro International S.A., Epicurus Shipping Company, and Adrian
Shipholding Inc., prior to the vessels&#146; acquisition by the Partnership, from the separate records
maintained by Capital Maritime &#038; Trading Corp., and 2) the retroactive adjustments to previously
issued financial statements resulting from transactions between entities under common control) and
the effectiveness of the Partnership&#146;s internal control over financial reporting, appearing in the
Annual Report on Form 20-F of the Partnership for the year ended December&nbsp;31, 2010, and to the
reference to us under the heading &#147;Experts&#148; in the prospectus which forms a part of the
Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">/s/ Deloitte. Hadjipavlou, Sofianos &#038; Cambanis S.A.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Athens, Greece<BR>
June&nbsp;9, 2011

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>13
<FILENAME>y91492exv23w2.htm
<DESCRIPTION>EX-23.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;23.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent to the incorporation by reference in the Registration Statement on Form F-4 of Capital
Product Partners L.P. of our report dated April&nbsp;15, 2011, relating to the consolidated financial
statements of Crude Carriers Corp. and its subsidiaries (the &#147;Company&#148;) appearing in the Annual
Report on Form 20-F of the Company for the year ended December&nbsp;31, 2010, and to the reference to us
under the heading &#147;Experts&#148; in the prospectus which forms a part of the Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">/s/ Deloitte. Hadjipavlou, Sofianos &#038; Cambanis S.A.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Athens, Greece<BR>
June&nbsp;9, 2011

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>14
<FILENAME>y91492exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CONSENT OF JEFFERIES &#038; COMPANY, INC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Independent Directors&#146; Committee of the<BR>
Board of Directors<BR>
Crude Carriers Corp.<BR>
3 Iassonos Street<BR>
185 37 Piraeus<BR>
Greece

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the inclusion of our opinion letter dated May&nbsp;5, 2011 to the Independent
Directors&#146; Committee of the Board of Directors of Crude Carriers Corp. (the &#147;Company&#148;) included as
Appendix&nbsp;B, and to the references thereto under the captions &#147;SUMMARY&#151;Opinion of the Crude
Independent Committee&#146;s Financial Advisor,&#148; &#147;THE PROPOSED TRANSACTION&#151;Recommendation of the Crude
Independent Committee and the Crude Board; Crude&#146;s Reasons for the Proposed Transaction&#148; and &#147;THE
PROPOSED TRANSACTION&#151;Opinion of the Crude Independent Committee&#146;s Financial Advisor&#148; in the proxy
statement/prospectus relating to the proposed merger transaction involving Capital Product Partners
L.P. and the Company, which proxy statement/prospectus forms a part of the Registration Statement
on Form F-4 of Capital Product Partners L.P. In giving such consent, we do not admit and we hereby
disclaim that we come within the category of persons whose consent is required under Section&nbsp;7 of
the Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange
Commission thereunder, nor do we hereby admit that we are experts with respect to any part of such
Registration Statement within the meaning of the term &#147;experts&#148; as used in the Securities Act of
1933, as amended, or the rules and regulations of the Securities and Exchange Commission
thereunder.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">JEFFERIES &#038; COMPANY, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Justin Despirito
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Justin Despirito&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Assistant General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">New York, New York<BR>
June&nbsp;9, 2011

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>15
<FILENAME>y91492exv99w2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="right" style="font-size: 10pt"><B>EXHIBIT 99.2</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>CRUDE CARRIERS CORP.</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 10pt">2011 SPECIAL MEETING OF SHAREHOLDERS<BR>
&#091;MONTH&#093; &#091;DAY&#093;, 2011
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THIS PROXY IS BEING SOLICITED ON BEHALF OF OUR BOARD OF DIRECTORS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt">The undersigned shareholder of Crude Carriers Corp. (the &#147;Company&#148;), having read the Notice of
Special Meeting of Shareholders and definitive proxy statement/prospectus, HEREBY APPOINTS &#091;PROXY&#093;
with full power of substitution, for and in the name of the undersigned, to vote all Common Shares
of the Company that the undersigned would be entitled to vote if personally present at the 2011
Special Meeting of Shareholders of the Company, to be held at Crude&#146;s offices at 3 Iassonos Street,
Piraeus, 18537 Greece on &#091;MONTH&#093; &#091;DAY&#093;, 2011 at &#091;TIME OF DAY&#093; and at any adjournment or
postponement thereof, and, in their discretion, on all other matters that may properly come before
such meeting, hereby revoking any proxy heretofore executed by the undersigned to vote at said
meeting.</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148; PROPOSAL 1 AND PROPOSAL 2. IF THIS PROXY IS EXECUTED
BUT NO INSTRUCTIONS ARE GIVEN AS TO ANY ITEMS SET FORTH HEREIN, THE PROXY WILL BE VOTED &#147;FOR&#148;
PROPOSAL 1 AND &#147;FOR&#148; PROPOSAL 2.</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 10pt"><B>YOUR VOTE IS VERY IMPORTANT &#150; PLEASE VOTE TODAY.</B>
</DIV>
<DIV align="justify" style="font-size: 8pt; margin-top: 70pt"><B>This proxy when properly executed will be voted in the manner directed herein. If no
instructions are given, this proxy will be voted FOR Proposals 1 and 2. To vote in accordance with
the Board&#146;s recommendations, just sign and date below; no boxes need to be checked.</B>
</DIV>

<DIV align="justify" style="font-size: 8pt; margin-top: 10pt"><B>The Board of Directors recommends a vote &#147;FOR&#148; Proposal1 and &#147;FOR&#148; Proposal 2</B>
</DIV>


<DIV style="margin-top: 14pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Proposal 1: </B>Adopt the agreement and plan of merger, dated
as of May&nbsp;5, 2011, by and among Capital Product Partners
L.P., a limited partnership organized under the laws of
the Republic of the Marshall Islands (&#147;CPLP&#148;), Capital GP
L.L.C., a limited liability company organized under the
laws of the Republic of the Marshall Islands, Poseidon
Project Corp., a corporation organized under the laws of
the Republic of the Marshall Islands and a wholly-owned
subsidiary of CPLP (&#147;MergerCo&#148;) and Crude Carriers Corp.
(&#147;Crude&#148;), pursuant to which each share of Crude common
stock and Crude Class&nbsp;B stock will be automatically
converted into the right to receive 1.56 CPLP common
units, and to approve the merger of MergerCo with and
into Crude, with Crude continuing as the surviving
corporation, as a result of which Crude will become a
wholly-owned subsidiary of CPLP.</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>FOR</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>AGAINST</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>ABSTAIN</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 20pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Proposal 2: </B>Adjourn the Special Meeting, if necessary, to permit further solicitation of proxies if there are not
sufficient votes at the time of the Special Meeting to adopt the merger agreement and approve the proposed merger.</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>FOR</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>AGAINST</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Webdings" STYLE="FONT-SIZE:15PT">&#099;</FONT>&nbsp;&nbsp;&nbsp; <B>ABSTAIN</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 20pt">Dated: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2011

</DIV>
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 15pt" >
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="text-align: justify"><DIV style="margin-left:0px; text-indent:-0px">Signature
</DIV></DIV></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  nowrap><DIV style="text-align: justify">Signature (if held jointly)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="text-align: justify"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></DIV></TD>
    <TD>&nbsp;</TD>

<TD><DIV style="text-align: justify"><DIV style="font-size: 1pt; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>

<TD><DIV style="text-align: justify"><DIV style="font-size: 1pt; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 8pt; margin-top: 20pt"><B>NOTE: Please sign as name appears hereon. Joint owners should each sign. When signing as attorney,
executor, administrator, trustee or guardian, please give title as such.</B>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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