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NancyN 01-04-2005 05:28 PM

Carnival Corporation & plc Orders New 112,000-Ton Ship for Costa
Cruises Unit

Existing Costa Vessel Costa Tropicale to Be Transferred to P&O Cruises
Australia Brand

MIAMI, Jan. 4
Carnival Corporation & plc (NYSE: CCL; LSE)(NYSE: CUK) today announced
an agreement with Italian shipbuilder Fincantieri for the construction
of a new 112,000-ton vessel for its Costa Cruises unit. Delivery is
scheduled for Spring 2007.

To be built at an all-in cost of 475 million euro, the as-yet-unnamed
ship will feature a basis two-guest capacity of 3,000 and total
capacity, including upper berths, of 3,800. It will be a sister ship
to the Costa Concordia, which begins a new class for Costa when it
debuts in late Spring 2006.

The new "Concordia-class" vessels will offer innovative facilities and
features, including a wide range of formal and casual dining venues,
four swimming pools -- two of which will include retractable domes --
and state-of- the-art telecommunications capabilities. Of the ships'
1,500 staterooms, more than 60 percent will offer either an ocean view
or balcony.

"Continuing to invest in the Costa brand and introduce new vessels to
its fleet is key to maintaining Costa's preeminent position as
Europe's number one cruise line and to ensure Costa's fleet is the
most modern in the European market," said Carnival Corporation & plc
Chairman and CEO Micky Arison.

Carnival Corporation & plc also announced plans to transfer the Costa
vessel Costa Tropicale to its P&O Cruises Australia unit in October
2005. She will be renamed Pacific Star and will join the Pacific Sun
and Pacific Sky in serving the expanding Australian and New Zealand
market. The 1,022-passenger ship, which originally entered service
under the Carnival Cruise Lines brand in 1982, was operated by that
line until its transfer to Costa in 2001. Prior to joining the Costa
fleet, the vessel underwent an extensive $30 million refurbishment.
Further details of her Australasian itineraries will be announced
later this month.

On the transfer of Costa Tropicale to P&O Cruises Australia, Arison
stated, "We are constantly evaluating our ship assets and looking at
which brands can best utilize certain types of vessels based on the
characteristics of each brand and the markets in which each one
operates. Costa Tropicale is a ship extremely well suited to the P&O
Cruises Australia brand, and its transfer to that fleet is a perfect
example of the synergies we can capitalize on through our multi-brand,
global strategy."

The new Costa Concordia-class ship announced today will be constructed
at Fincantieri's Sestri Ponente yard. To accommodate that vessel's
construction schedule, minor adjustments were made to the delivery
dates for two other Carnival Corporation ships under contract with
Fincantieri. Delivery of Carnival Cruise Lines' new Carnival Freedom,
a 110,000-ton Conquest-class ship, originally scheduled for Spring
2007, will be moved up three months to February 2007. The delivery
date for the previously announced new Cunard vessel Queen Victoria has
been modified from July 2007 to December 2007.

Based on the new ship contract and delivery schedule adjustments
announced today, Carnival Corporation's capacity growth will be 7.6
percent in 2007 and 6.6 percent in 2008 versus previously anticipated
capacity increases of 6.6 percent in 2007 and 5.7 percent in 2008.

Including the new Costa ship, Carnival Corporation has 13 new ships
under contract and scheduled for delivery between 2005 and 2009.

Carnival Corporation & plc is the largest cruise vacation group in the
world, with a portfolio of 12 cruise brands in North America, Europe
and Australia, comprised of Carnival Cruise Lines, Holland America
Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA
Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan
Hellenic, and P&O Cruises Australia.

Together, these brands operate 77 ships totaling more than 132,000
lower berths with 13 new ships scheduled for delivery between April
2005 and April 2009. Carnival Corporation & plc also operates the
leading tour companies in Alaska and the Canadian Yukon, Holland
America Tours and Princess Tours. Traded on both the New York and
London Stock Exchanges, Carnival Corporation & plc is the only group
in the world to be included in both the S&P 500 and the FTSE 100
indices.

NancyN 01-04-2005 05:28 PM

Carnival Corporation & plc Orders New 112,000-Ton Ship for Costa
Cruises Unit

Existing Costa Vessel Costa Tropicale to Be Transferred to P&O Cruises
Australia Brand

MIAMI, Jan. 4
Carnival Corporation & plc (NYSE: CCL; LSE)(NYSE: CUK) today announced
an agreement with Italian shipbuilder Fincantieri for the construction
of a new 112,000-ton vessel for its Costa Cruises unit. Delivery is
scheduled for Spring 2007.

To be built at an all-in cost of 475 million euro, the as-yet-unnamed
ship will feature a basis two-guest capacity of 3,000 and total
capacity, including upper berths, of 3,800. It will be a sister ship
to the Costa Concordia, which begins a new class for Costa when it
debuts in late Spring 2006.

The new "Concordia-class" vessels will offer innovative facilities and
features, including a wide range of formal and casual dining venues,
four swimming pools -- two of which will include retractable domes --
and state-of- the-art telecommunications capabilities. Of the ships'
1,500 staterooms, more than 60 percent will offer either an ocean view
or balcony.

"Continuing to invest in the Costa brand and introduce new vessels to
its fleet is key to maintaining Costa's preeminent position as
Europe's number one cruise line and to ensure Costa's fleet is the
most modern in the European market," said Carnival Corporation & plc
Chairman and CEO Micky Arison.

Carnival Corporation & plc also announced plans to transfer the Costa
vessel Costa Tropicale to its P&O Cruises Australia unit in October
2005. She will be renamed Pacific Star and will join the Pacific Sun
and Pacific Sky in serving the expanding Australian and New Zealand
market. The 1,022-passenger ship, which originally entered service
under the Carnival Cruise Lines brand in 1982, was operated by that
line until its transfer to Costa in 2001. Prior to joining the Costa
fleet, the vessel underwent an extensive $30 million refurbishment.
Further details of her Australasian itineraries will be announced
later this month.

On the transfer of Costa Tropicale to P&O Cruises Australia, Arison
stated, "We are constantly evaluating our ship assets and looking at
which brands can best utilize certain types of vessels based on the
characteristics of each brand and the markets in which each one
operates. Costa Tropicale is a ship extremely well suited to the P&O
Cruises Australia brand, and its transfer to that fleet is a perfect
example of the synergies we can capitalize on through our multi-brand,
global strategy."

The new Costa Concordia-class ship announced today will be constructed
at Fincantieri's Sestri Ponente yard. To accommodate that vessel's
construction schedule, minor adjustments were made to the delivery
dates for two other Carnival Corporation ships under contract with
Fincantieri. Delivery of Carnival Cruise Lines' new Carnival Freedom,
a 110,000-ton Conquest-class ship, originally scheduled for Spring
2007, will be moved up three months to February 2007. The delivery
date for the previously announced new Cunard vessel Queen Victoria has
been modified from July 2007 to December 2007.

Based on the new ship contract and delivery schedule adjustments
announced today, Carnival Corporation's capacity growth will be 7.6
percent in 2007 and 6.6 percent in 2008 versus previously anticipated
capacity increases of 6.6 percent in 2007 and 5.7 percent in 2008.

Including the new Costa ship, Carnival Corporation has 13 new ships
under contract and scheduled for delivery between 2005 and 2009.

Carnival Corporation & plc is the largest cruise vacation group in the
world, with a portfolio of 12 cruise brands in North America, Europe
and Australia, comprised of Carnival Cruise Lines, Holland America
Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA
Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan
Hellenic, and P&O Cruises Australia.

Together, these brands operate 77 ships totaling more than 132,000
lower berths with 13 new ships scheduled for delivery between April
2005 and April 2009. Carnival Corporation & plc also operates the
leading tour companies in Alaska and the Canadian Yukon, Holland
America Tours and Princess Tours. Traded on both the New York and
London Stock Exchanges, Carnival Corporation & plc is the only group
in the world to be included in both the S&P 500 and the FTSE 100
indices.


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