Carnival Announces Dividend Exchange Rate

Carnival Corporation & plc Announces Exchange Rate for
                             Quarterly Dividend

    MIAMI, June 1, 2011 -- On April 13, 2011, Carnival Corporation & plc
(NYSE/LSE: CCL; NYSE: CUK) announced a quarterly cash dividend of $0.25
(U.S.) per share. The dividend is payable on June 10, 2011, to shareholders
of record on May 20, 2011.

    Holders of Carnival Corporation common stock or Carnival plc ADSs will
receive a dividend payable in U.S. dollars. The dividend for Carnival plc
ordinary shares will be payable in sterling unless shareholders elected to
receive the dividend in U.S. dollars by May 20, 2011.

    Dividends payable in sterling will be converted from U.S. dollars at the
exchange rate quoted by the Bank of England in London at 12 noon on June 1,
2011 (US$1 = 60.91247 pence). Accordingly, the dividend payable in sterling
on June 10, 2011, will be 15.22812 pence per share.

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

    Together, these brands operate 100 ships totaling more than 193,000 lower
berths with eight new ships scheduled to be delivered between now and 2015.
Carnival Corporation & plc also operates Holland America Princess Alaska
Tours, the leading tour company in Alaska and the Canadian Yukon. 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.

    Additional information is available on-line at www.carnivalcorp.com and
www.carnivalplc.com.

SOURCE Carnival plc

    CONTACT: MEDIA, US, Tim Gallagher, Carnival Corporation & plc,
[phone], ext. 16000, INVESTOR RELATIONS, US/UK, Beth Roberts,
Carnival Corporation & plc,[phone]