Carnival Corp. & plc Announces Dividend Exc...

Carnival Corporation & plc Announces Exchange Rate for
                             Quarterly Dividend

    MIAMI, March 2, 2011 -- On January 20, 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 March 11, 2011, to 
shareholders of record on February 18, 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 February 18, 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 
March 1, 2011 (US$1 = 61.43638 pence). Accordingly, the dividend payable in 
sterling on March 11, 2011, will be 15.35910 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 totaling more than 191,000 
lower berths with 10 new ships scheduled to be delivered between March 2011 
and May 2014. 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, +1-305-
599-2600, ext. 16000; INVESTOR RELATIONS: US/UK, Beth Roberts, Carnival 
Corporation & plc, [phone]