Director/PDMR Shareholding

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 number of plc RSUs issued to Mr. Dingle is 3,028 and his total holdings of
plc RSUs is 3,028.

All other information in the prior release remains unchanged.

Complete, corrected announcement follows:

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:

Director/PDMR Name        Option Over         Restricted     
                                                             
                        Shares Awarded    Share Units Awarded
                                                             
Pier Luigi Foschi           50,000              10,000       
                                                             
David Dingle                  275                3,028       

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 per plc Share
for Mr. Foschi's option is based on the 30-day average of the closing price of
one share of Carnival plc. The exercise price of £31.24 per plc Share for Mr.
Dingle's option 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 3,028 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.

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