Dividend Declaration

Carnival Corporation & plc Announces Exchange Rate for Quarterly Dividend

    MIAMI, March 3 -- On January 15, 2008, Carnival Corporation & plc
(NYSE/LSE: CCL; NYSE: CUK) announced a quarterly cash dividend
of $0.40 (U.S.) per share. The dividend is payable on March 14, 2008, to
shareholders of record on February 22, 2008.
    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 February 22, 2008.
    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 March 3,
2008 (US$1 = 50.43119 pence). Accordingly, the dividend payable in sterling on
March 14, 2008, will be 20.17247 pence per share.

    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, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line,
Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.
    Together, these brands operate 85 ships totaling more than 158,000 lower
berths with 22 new ships scheduled to enter service between April 2008 and May
2012. 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.
    Additional information is available on-line at www.carnivalcorp.com and
www.carnivalplc.com .

SOURCE Carnival Corporation & plc
    -0-                       03/03/2008

    CONTACT: US Media, Tim Gallagher of Carnival Corporation & plc,
305-599-2600, ext. 16000; US-UK Investor Relations, Beth Roberts of
Carnival Corporation & plc, 305-406-4832; UK Sophie Fitton - Sophie Brand
of Brunswick Group, (0) 20 7404 5959

    Web site: http://www.carnivalcorp.com
              http://www.carnivalplc.com

    (CCL CUK)