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Carnival Corporation & plc Signs Memorandum Of Agreement For Two Ships For the Princess Cruises Brand

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February 17, 2010.

Carnival Corporation & plc has signed a memorandum of agreement with Italian shipbuilder Fincantieri for the construction of two 3,600-passenger cruise ships for its Princess Cruises brand.  The agreement is subject to execution of a definitive contract, financing and other customary closing conditions.

The new ships – which will have an all-in cost of approximately €155,000 ($211,000) per lower berth – are scheduled to enter service in spring 2013 and spring 2014.  At 139,000 tons each, the as-yet-unnamed ships will be the largest in the Princess Cruises fleet.

Additional details will be announced at a later date.

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

Together, these brands operate 95 ships totaling more than 184,000 lower berths with 11 new ships scheduled to be delivered between March 2010 and May 2012.

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