Carnival Corporation & plc Declares Dividend

Carnival Corporation & plc Declares Dividend 
 
           DLC's Second Dividend for Both U.S. and UK Shareholders 
     
    MIAMI, June 26 -- Carnival Corporation & plc  
(NYSE CCL; LSE)(NYSE: CUK) announced today that its Boards of Directors 
declared a quarterly cash dividend of 10.5 U.S. cents per share for the second 
quarter of 2003. The dividend is payable on September 12, 2003, to 
shareholders of record on August 22, 2003.  
    Holders of Carnival Corporation common stock or Carnival plc ADSs will 
receive the dividend payable in U.S. dollars.  The dividend for Carnival plc 
ordinary shares will be payable in U.S. dollars or sterling. In the absence of 
instructions or elections to the contrary, holders of Carnival plc ordinary 
shares will automatically receive the dividend in sterling. Dividends payable 
in sterling will be converted from U.S. dollars at the exchange rate quoted by 
the Bank of England in London at 11 a.m. on September 1, 2003.  Holders of 
Carnival plc ordinary shares wishing to receive their dividend in U.S. dollars 
must elect to do so by August 28, 2003. 
    Carnival Corporation & plc is the largest cruise vacation group in the 
world, with a portfolio of 13 cruise brands in North America, Europe and 
Australia, comprised of Carnival Cruise Lines, Princess Cruises, Holland 
America Line, Costa Cruises, P&O Cruises, Cunard Line, Windstar Cruises, 
Seabourn Cruise Line, Ocean Village, Swan Hellenic, AIDA, A'ROSA, and P&O 
Cruises Australia.  
    Together, these brands operate 68 ships totaling more than 105,800 lower 
berths with 15 new ships scheduled for delivery between now and mid-2006. 
Carnival Corporation & plc also operates three riverboats on Europe's Danube 
River and 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 can be obtained via Carnival Corporation & plc's 
Web sites at www.carnivalcorp.com and www.carnivalplc.com. 
 
SOURCE  Carnival Corporation & plc  
    -0-                             06/26/2003 
    /CONTACT:  Media, in the US, Tim Gallagher, Carnival Corporation & plc,  
[phone], ext. 16000; or in the UK, Sophie Fitton or Sarah Tovey, both 
of Brunswick Group, 44-0-20-7404-5959, for Carnival; or Investors, in the US 
and UK, Beth Roberts, Carnival Corporation & plc, [phone], or  
44-0-79-5643-6104, or in the UK, Bronwen Griffiths,  
44-0-23-8052-5231, for Carnival/  
    /Web site:  http://www.carnivalcorp.com/ 
    (CCL CUK)