News Release

Carnival Corporation & plc Announces Realignment of Responsibilities Among Executive Directors

MIAMI, April 24 /PRNewswire-FirstCall/ -- Carnival Corporation & plc (NYSE: CCL; London) today announced a senior management realignment of the company's executive directors who have specific brand responsibilities.

Peter Ratcliffe will continue to be responsible for Los Angeles-based Princess Cruises and Seattle-based Princess Tours and will also be responsible for all of Carnival's U.K.-oriented brands, including Cunard Line Ltd. (which includes Cunard Line and Seabourn Cruise Line), P&O Cruises, Ocean Village and Swan Hellenic. Pamela Conover, president of Cunard Line, and David Dingle, managing director of P&O Cruises (U.K.), will report to Ratcliffe. Ratcliffe will also oversee P&O Cruises' Australian operations with Gavin Smith, managing director, continuing to report to him.

Pier Luigi Foschi will continue to have responsibility for Genoa, Italy- based Costa Cruises and will also assume responsibility for the corporation's German cruise companies, which include Seetours and the AIDA and A'ROSA cruise brands. Lars Clasen, president of Seetours, will report directly to Foschi.

Bob Dickinson will continue to be responsible for Miami-based Carnival Cruise Lines, the largest of Carnival Corporation's cruise brands.

A. Kirk Lanterman will maintain responsibility for Seattle-based Holland America Line and Holland America Tours, as well as Windstar Cruises.

All four executive directors will continue to report to Carnival Corporation & plc Chairman and CEO Micky Arison and Vice Chairman Howard Frank.

"We anticipate that placing all U.K.-oriented brands under the leadership of Peter Ratcliffe and all mainland European brands under Pier Luigi Foschi will contribute significantly to the streamlining of communications and acceleration of synergy opportunities among those groups," said Howard Frank, vice chairman of Carnival Corporation & plc.

"At the same time, Bob Dickinson and Kirk Lanterman, who are the well established and respected leaders of two of the cruise industry's most successful cruise brands, will continue in their existing roles," he added.

"In our view, these four individuals comprise the most talented management group in the cruise industry," Frank added.

Carnival Corporation & plc is the largest cruise vacation company in the world, with a portfolio of 13 distinct brands comprised of the leading cruise operators in both North America and Europe. Carnival Cruise Lines, Holland America Line, Windstar Cruises, Seabourn Cruise Line, Cunard Line, Costa Cruises, Princess Cruises, P&O Cruises, Ocean Village, Swan Hellenic, AIDA, A'ROSA, and P&O Cruises Australia are all included in this group.

Together, these brands operate 66 ships totaling more than 100,000 lower berths with 17 new ships scheduled for delivery between now and mid-2006. It also operates three riverboats on Europe's Danube River and 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 company in the world to be included in both the S&P 500 and the FTSE 100 indices.

SOURCE Carnival Corporation -0- 04/24/2003 /CONTACT: Tim Gallagher of Carnival Corporation, +1-305-599-2600, ext. 16000/ /Web site: / (CCL) CO: Carnival Corporation; Princess Cruises; Princess Tours; Carnival pls; Cunard Line Ltd.; Cunard Line; Seabourn Cruise Line; P&O Cruises; Ocean Village; Swan Hellenic; Costa Cruises; Holland America Line; Holland America Tours; Windstar Cruises; AIDA; A'ROSA ST: Florida, England, Australia, Washington, California, Italy, Germany