Carnival Announces Dividend Exchange Rate

Carnival Corporation & plc Announces Exchange Rate For Quarterly Dividend 

MIAMI, March 1, 2012 -- On February 10, 2012, 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 March 16, 2012, to shareholders 
of record on February 24, 2012.

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 February 24, 2012. 

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 March 1, 2012
(US$1 = 62.70772 pence). Accordingly, the dividend payable in sterling on 
March 16, 2012, will be 15.67693 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 98 ships totalling 195,000 lower berths with 
10 new ships scheduled to be delivered between April 2012 and March 2016.  
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.    

SOURCE  Carnival Plc

CONTACT:  US: Carnival Corporation & plc, Jennifer la Cruz, [phone], 
ext. 16000; INVESTOR RELATIONS CONTACT:  US/UK:  Carnival Corporation & plc, 
Beth Roberts, [phone]