Carnival Corporation Announces Dividend Exchange

Carnival Corporation & plc Announces Exchange Rate For Quarterly Dividend   

MIAMI, June 1, 2012 -- On April 12, 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 June 15, 2012, to shareholders of
record on May 25, 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 May 25, 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 June 1,
2012 (US$1 = 65.26989 pence). Accordingly, the dividend payable in sterling on
June 15, 2012, will be 16.31747 pence per share.

Carnival Corporation & plc is the largest cruise company 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
(Australia) and P&O Cruises (UK).

Together, these brands operate 101 ships totaling 204,000 lower berths with
seven new ships scheduled to enter service between March 2013 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.

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


SOURCE  Carnival Plc


CONTACT: MEDIA: Jennifer de la Cruz, [phone], ext. 16000, or INVESTOR
RELATIONS: Beth Roberts, [phone], both of Carnival Corporation & plc