November 24, 2008HAMILTON, BERMUDA–(Marketwire – Nov. 24, 2008) – Teekay Corporation (Teekay or the Company) (NYSE:TK) plans to release the preliminary results of its previously announced financial restatement before market opening on Tuesday, November 25, 2008. The Company also plans to host a conference call on Tuesday, November 25, 2008 at 11:00 a.m. (ET) to review the Company’s preliminary restated results and discuss key elements of its financial position and outlook. All shareholders and interested parties are invited to listen to the live conference call by choosing any of the following options: – By dialing (866) 322-1159 or (416) 640-3404 if outside North America and quoting confirmation code 1428377; – By accessing the webcast, which will be available on Teekay’s web site at www.teekay.com (the archive will remain on the web site for a period of 30 days); – A recording of the conference call will also be available until Tuesday, December 2, 2008 by dialing (888) 203-1112 or (647) 436-0148 and entering access code 1428377. An investor presentation to accompany this conference call will be made available on the Company’s web site at www.teekay.com prior to the start of the call. About Teekay Teekay Corporation transports more than 10 percent of the world’s seaborne oil, has built a significant presence in the liquefied natural gas shipping sector through its publicly-listed subsidiary, Teekay LNG Partners L.P. (NYSE:TGP), is further growing its operations in the offshore oil production, storage and transportation sector through its publicly-listed subsidiary, Teekay Offshore Partners L.P. (NYSE:TOO), and continues to expand its conventional tanker business through its publicly-listed subsidiary, Teekay Tankers Ltd. (NYSE:TNK). With a fleet of approximately 190 vessels, offices in 22 countries and 6,400 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies, helping them seamlessly link their upstream energy production to their downstream processing operations. Teekay’s reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company. Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.