Directorate Change

P&O Princess Chief Advises Carnival Corporation & plc of Retirement Plans 
                                        
             David Dingle and Alan Buckelew Promoted to Top Posts 
 
    MIAMI, June 21 -- Peter Ratcliffe, CEO of P&O Princess Cruises
International, has informed Carnival Corporation & plc 
(NYSE/LSE: CCL; NYSE: CUK) that he will retire effective March 6, 2008.   
    Effective immediately, David Dingle has been promoted to CEO of Carnival 
UK with responsibility for the company's British brands -- P&O Cruises, Ocean 
Village and Cunard Line.  He also has been appointed chairman of the Carnival 
plc Management Committee with responsibility for P&O Cruises Australia.  Alan 
Buckelew has been promoted to president and CEO of Princess Cruises, also 
effective immediately. 
    "It has always been a goal of mine to retire at age 60 and in this case, 
the effective date is actually my 60th birthday," said Ratcliffe.  "I've had a 
tremendously rewarding career in this industry and know that I leave the 
future of my cherished brands in the most capable hands of David and Alan," he 
added. 
    "Peter has only been a part of our organization since the merger of our 
companies in the spring of 2003 but I can't say enough about all he has done 
to contribute to our post-merger success," said Micky Arison, chairman and CEO 
of Carnival Corporation & plc.   Arison said that not only was Ratcliffe 
"instrumental in getting the deal done in the first place, but once that was 
complete, he was key to the successful integration of the two companies, as 
well." 
    Peter Ratcliffe joined The Peninsular and Oriental Steam Navigation 
Company (P&O) in 1973 and, after rising through the ranks of the British 
company, became chief financial officer of Princess Cruises in 1986 and then 
chief operating officer in 1989.   He was named president in 1993.  In early 
2000, Ratcliffe was appointed head of P&O's cruise division and led the de-
merger from P&O later that year to create an independent public company, P&O 
Princess Cruises plc.   He was named chief executive officer of that new 
company and then, in April 2003, following completion of  its merger with 
Carnival Corporation, he was appointed to his present position and also as an 
executive director and board member of Carnival Corporation & plc. 
    The promotions of Dingle and Buckelew are effective today, although 
Ratcliffe will stay on to assist and advise through the March 2008 transition 
period. 
    "We have a deep and talented management pool in our global businesses and 
are fortunate that these two highly qualified individuals are on our roster 
and can step up and take over the responsibility for these companies," said 
Arison.  "Like many people in our organization, these two gentlemen have had 
long and successful careers in the cruise business and together bring some 60 
years of cruise industry experience," he added.  "David has literally grown up 
at P&O having put in 30 years working his way through the ranks.   Alan shares 
an equally long tenure in the business, starting his cruise career at Sitmar 
which was later acquired by Princess," Arison said. 
    David Dingle previously was managing director of Carnival UK, a position 
he assumed following the merger of Carnival Corporation and P&O Princess 
Cruises in 2003.   He joined P&O in 1978 where he held a number of positions 
until being named managing director in 2000.   Active within the European 
cruise industry, Dingle also currently serves as president of The UK Chamber 
of Shipping and chairman of the European Cruise Council.   
    Alan Buckelew has served as president of Princess Cruises since February 
2004.  Prior to that, he was executive vice president of corporate services.   
He has also served Princess in the roles of chief information officer and 
chief financial officer.  He joined Sitmar Cruises in 1977 as manager of 
management information.  He rose through the ranks holding a variety of 
positions and was senior vice president of customer services by the time it 
was acquired by Princess in 1988.   
    "I know that all of the presidents and chief executive officers of the 
Carnival brands, as well as board members, join me in thanking Peter for his 
many contributions to our organization and wishing him and his family all the 
best in his retirement.  At the same time we congratulate David and Alan on 
their promotions and look forward to working with them as they lead their 
brands to many future achievements," Arison concluded.     
    Carnival Corporation & plc is the largest cruise vacation group in the 
world, with a portfolio of cruise brands in North America, Europe and 
Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess 
Cruises, Seabourn Cruise Line, AIDA Cruises, Costa Cruises, Cunard Line, Ocean 
Village, P&O Cruises and P&O Cruises Australia. 
    Together, these brands operate 82 ships totaling 154,000 lower berths with 
17 new ships scheduled to enter service between December 2007 and June 2011. 
Carnival Corporation & plc also operates Holland America Tours and Princess 
Tours, the leading tour companies 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. 
 
SOURCE  Carnival Corporation plc  
    -0-                             06/21/2007 
    /CONTACT:  Media Contacts US, Tim Gallagher of Carnival Corporation & plc,  
[phone], Ext. 16000 or Julie Benson of Princess Cruises,  
[phone]; UK, Richard Jacques, [phone] or Sophie Brand,  
44-0-20-7404-5959, both of the Brunswick Group; Michele Andjel, P&O, Cruises-
Carnival UK, [phone]; Investor Relations Contact, US-UK, Beth 
Roberts, Carnival Corporation & plc, [phone] / 
    /Web site:  http://www.carnivalcorp.com / 
    (CCL CUK)