U.S. Shipping Partners L.P. Announces Pricing of Initial Public Offering EDISON, N.J., Oct. 29 /PRNewswire-FirstCall/ -- U.S. Shipping Partners L.P. (NYSE:USS) announced today that it has priced its initial public offering of 6,000,000 units of its common units at $22.25 per unit. U.S. Shipping Partners L.P. anticipates that the common units will begin trading today on The New York Stock Exchange under the symbol "USS." The initial public offering is being led by Citigroup and Lehman Brothers, as joint book-running managers, UBS Investment Bank, as co-lead manager, and KeyBanc Capital Markets and Raymond James, as co-managers. The initial public offering of 6,000,000 common units represents a 42.6% interest in U.S. Shipping Partners L.P. U.S. Shipping Partners L.P. has granted the underwriters a 30-day option to purchase up to an additional 899,968 common units at the same price to cover over-allotments, if any. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities. Any offer will be made only by means of the prospectus. A copy of the final prospectus relating to the offering may be obtained when available from Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, N.Y. 11220, Attn: Prospectus Department, Phone: 718-765-6732, or from Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, N.Y. 11717, Phone: 631-254-7106, or from any of the other underwriters. U.S. Shipping Partners L.P. is a leading provider of long-haul marine transportation services, principally for refined petroleum products, in the U.S. domestic "coastwise" trade. U.S. Shipping Partners L.P. is also involved in the coastwise transportation of petrochemical and commodity chemical products. This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. DATASOURCE: U.S. Shipping Partners L.P. CONTACT: Al Bergeron of U.S. Shipping Partners L.P., +1-732-635-2705 Web site: http://www.usshipllc.com/

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