Dividend Declaration

Carnival Corporation & plc Increases Dividend By 10 Percent 
 
    MIAMI, Oct. 18 / -- Carnival Corporation & plc (NYSE/LSE: CCL)(NYSE: CUK) 
has announced that it has declared a dividend of $0.275 per share -- an increase 
of 10 percent.    
    The boards approved a record date for the quarterly dividend of               
November 17, 2006, and a payment date of December 8, 2006. 
    Holders of Carnival Corporation common stock and 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 12 noon on December 
1, 2006.  Holders of Carnival plc ordinary shares wishing to receive their 
dividend in U.S. dollars or participate in the Carnival plc Dividend 
Reinvestment Plan must elect to do so by November 17, 2006.  
 
    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, Windstar Cruises, AIDA Cruises, Costa Cruises, 
Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises 
Australia. 
    Together, these brands operate 81 ships totaling approximately 144,000 
lower berths with 15 new ships scheduled to enter service between March 2007 
and spring 2010. Carnival Corporation & plc also operates 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 is available on-line at http://www.carnivalcorp.com 
and http://www.carnivalplc.com.  
 
SOURCE  Carnival Corporation; Carnival plc 
    -0-                             10/18/2006 
    /CONTACT:  US Media, Tim Gallagher of Carnival Corporation & plc,  
[phone], ext. 16000; UK Media, Sarah Lindgreen or Ruban Yogarajah of 
Brunswick Group, 44 (0) 20 7404 5959, for Carnival Corporation & plc; Investor 
Relations, Beth Roberts of Carnival Corporation & plc, [phone]/ 
    /Web site:  http://www.carnivalcorp.com 
                http://www.carnivalplc.com / 
    (CCL CUK)