CORRECTION - NOTIF. OF TRANSACTION OF DIRECTOR/...

CORRECTION - NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMR

MIAMI (February 22, 2006) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: 
CUK) noted a correction to the announcement made earlier today.

The exercise price for the options over plc Shares issued to Mr. Foschi is 
31.98 pounds per plc Share and is based on the 30-day average of the closing 
price of one share of Carnival plc.  The exercise price for Mr. Dingle is as 
previously stated.  Following the option award Mr. Dingle holds options over 
49,991 plc Shares.

All other information in the prior release remains unchanged.

Complete, corrected announcement follows:

                  NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMR 
 
MIAMI (February 22, 2006) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:  
CUK) announced that on February 21, 2006 awards were made to certain executive 
directors and PDMRs pursuant to the Carnival plc 2005 Employee Share Plan (the 
"2005 Plan") and Carnival Corporation 2002 Stock Plan (the "2002 Plan"). 
 
Pursuant to the 2002 Plan, an option to purchase 50,000 shares of common stock 
of Carnival Corporation (the "Corporation Shares") was granted to Peter G. 
Ratcliffe, Chief Executive Officer of P&O Princess Cruises International.  
This option is exercisable in five equal installments beginning on the first 
anniversary of the date of grant.  The exercise price of US$51.375 per 
Corporation Share is based on the average of the high and low sales prices of 
one Corporation Share on February 21, 2006 on the New York Stock Exchange.  
Also pursuant to the 2002 Plan, Mr. Ratcliffe was granted 10,000 restricted 
share units representing a hypothetical interest in Carnival Corporation 
Shares ("Corporation RSUs").  The Corporation RSUs will be released from 
restriction on the fifth anniversary of the date of grant. 
 
Pursuant to the 2005 Plan, an option to purchase Carnival plc ordinary shares 
of US$1.66 each ("plc Shares") and restricted share units representing a 
hypothetical interest in plc Shares ("plc RSUs") were awarded as follows:
 
 
 
                                  Option Over                Restricted      
                                  -----------                ---------- 
    Director/PDMR Name           Shares Awarded          Share Units Awarded 
    ------------------           --------------          ------------------- 
 
    Pier Luigi Foschi                50,000                    10,000  
    David Dingle                       275                       605  
 
 
 
The option awarded to Mr. Foschi, Chief Executive Officer of Costa Crociere, 
S.p.A., is exercisable in five equal installments beginning on the first 
anniversary of the date of grant.  The option awarded to Mr. Dingle, Managing 
Director of Carnival UK and P&O Cruises, is exercisable in full on the third 
anniversary of the date of grant.  The exercise price of 31.98 pounds per plc 
Share is based on the closing price of one share of Carnival plc on February 
21, 2006 on the London Stock Exchange. 
 
The plc RSUs awarded to Mr. Foschi will be released from restriction on the 
fifth anniversary of the date of grant.  The plc RSUs awarded to Mr. Dingle 
will be released from restriction on the third anniversary of the date of 
grant. 
 
Following this notification Mr. Ratcliffe holds 20,000 Corporation RSUs and 
options over 150,000 Corporation Shares, Mr. Foschi holds 10,000 plc RSUs and 
options over 398,264 plc Shares and Mr. Dingle holds 605 plc RSUs and options 
over 49,991 plc Shares. 
 
This notification relates to disclosures made in accordance with Disclosure  
Rule 3.1.4(R)(1)(a) and Disclosure Rule 3.1.4(R)(1)(b), a disclosure made in  
accordance with section 324 of the Companies Act 1985. 
 
Further details and a copy of the Forms 4, Statement of Changes in Beneficial 
Ownership of Securities, being filed later today with the U.S. Securities & 
Exchange Commission, can be found at the SEC web site, www.sec.gov, and the 
Carnival Corporation & plc web site located at www.carnivalcorp.com or 
www.carnivalplc.com.