Carnival Corporation & plc Asian Cruise Ini...

Carnival Corporation & plc Launches Asian Cruise Initiative 
 
    Costa Cruises' Costa Allegra to Operate Five-Day Cruises from Shanghai 
 Beginning in July 2006; First Large International Cruise Company Licensed by 
         Chinese Government to Embark Its Citizens From Chinese Ports 
 
    MIAMI, March 6 -- Costa Cruises, an Italian-based subsidiary of Carnival 
Corporation & plc, (NYSE/LSE: CCL; NYSE: CUK), today announced that it will 
enter the Asian market in July 2006 with the Costa Allegra operating round-trip 
voyages from Shanghai. 
  
    The 1,000-passenger (total capacity), 28,500-ton vessel will be marketed 
exclusively to Chinese clientele, initially operating a series of 24 five-day 
cruises from Shanghai to Nagasaki, Japan, and Cheju, Korea, beginning July 3, 
2006. 
      
    "We have been exploring a strategy for entering the Asian marketplace for 
some time and have indicated that our entrance into this hugely populated 
market would be through one of our existing brands. These cruises represent a 
first step in this initiative and will serve as a platform for future 
expansion into other areas of Asia. Although all of our brands are virtually 
unknown in China, we chose Costa because it is already very international in 
nature, serving guests of many different nationalities, languages and 
cultures," said Micky Arison, Carnival Corporation & plc chairman and CEO.  He 
noted that most of Carnival's other brands cater to specific nationalities. 
   
    Costa Cruises Chairman and CEO Pier Luigi Foschi's extensive experience 
working in Asia was another factor in selecting Costa, according to Arison. 
Prior to being recruited by Carnival Corporation in 1997, Foschi spent seven 
years in Hong Kong and Singapore overseeing the Pacific Asia operations for 
the Otis Elevator Company. 
  
    During this time, he managed an organization consisting of 22 separate 
operations, employing nearly 18,000 people, with sales of approximately $1.8 
billion.  "Pier is a highly talented international executive and his years in 
Asia, combined with his vast experience overseeing Europe's leading cruise 
company, bring a unique insight and perspective into our new Asian cruise 
initiative," Arison said.  
 
    Arison noted that China is one of the world's fastest growing travel 
markets, with more than 31 million Chinese traveling abroad last year. That 
number is expected to grow to 50 million by 2010. "Asia is a vastly 
underserved market and although these cruises on the Costa Allegra may be just 
a small step, if it proves as successful as we anticipate, this region could 
be the next great growth area for cruising," he said. 
 
    To oversee its entry into Asia, Costa has created a new division, Costa 
Asia, with an office in Hong Kong and an office in Shanghai scheduled to open 
in April of this year.   This marks the first time that a large international 
cruise company has been granted a license by the People's Republic of China to 
embark its citizens from Chinese ports.  In May, Costa plans to open a call 
center in mainland China.  
 
    According to Foschi, "This project, together with our previously announced 
new itineraries in the Far East and UAE, is part of Costa's strategy of 
business development and expansion in what we believe are emerging, high-
growth markets. It will be a great thrill to see a Costa Cruises' ship in the 
ports of the People's Republic of China and other Asian countries." 
 
    Prior to the launch of service from Shanghai, Costa Allegra will undergo a 
multi-million-dollar renovation to create an on-board product specifically 
tailored to the preferences of Chinese vacationers but with a European flair. 
Following the refurbishment, the Costa Allegra will offer a variety of dining 
options, including a "fusion" (Asian/Italian) restaurant, a sushi/noodles bar, 
an Italian restaurant, a wellness center, and a shopping area.  Entertainment 
will be geared toward Asian tastes, as well.  
 
    While Costa Allegra's deck and engine officers, along with key 
departmental management, will be Italian, they will be assisted by more than 
230 Chinese professionals who will be hired from local hotels and resorts 
 
    Carnival Corporation & plc is the largest cruise vacation group in the 
world, with a portfolio of 12 cruise brands in North America, Europe and 
Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess 
Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, 
Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises 
Australia. 
 
    Together, these brands operate 80 ships totaling more than 139,000 lower 
berths with 15 new ships scheduled to enter service between May 2006 and fall 
2009. Carnival Corporation & plc also operates 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 group in the world to be included in both the S&P 500 and the 
FTSE 100 indices. 
 
    Additional information is available at http://www.carnivalcorp.com , 
http://www.carnivalplc.com , and http://www.costa.it/asia .  
 
 
MEDIA CONTACTS:                     
US                             
Carnival Corporation & plc               
Tim Gallagher                       
305 599 2600, ext. 16000                 
 
UK                             
Brunswick Group                     
Sophie Fitton/Sarah Lindgreen            
44 (0) 20 7404 5959  
 
 
INVESTOR RELATIONS CONTACT: 
US/UK 
Carnival Corporation & plc 
Beth Roberts 
305 406 4832 
 
SOURCE  Carnival Corporation 
    -0-                             03/06/2006 
    /Web site:  http://www.carnivalcorp.com/ 
    (CCL CUK)