Teekay Tankers Ltd. has priced its initial public offering
of 10,000,000 shares of its Class A Common Stock at $19.50 per share. The
10,000,000 shares of Class A Common Stock (11,500,000 shares if the underwriters exercise their over-allotment
option in full) represent a 40% ownership interest in Teekay Tankers Ltd. Teekay Corporation (NYSE: TK) owns
the remaining capital stock of Teekay Tankers Ltd., which includes Class A Common Stock and Class B Common
Stock. The Class A Common Stock will trade on The New York Stock Exchange under the symbol "TNK".