Dividend Declaration

Carnival Corporation & plc Announces Exchange Rate for Quarterly Dividend 
 
    MIAMI, March 1 -- On January 24, 2007, Carnival Corporation & plc (NYSE/LSE: 
CCL; NYSE: CUK) announced a quarterly cash dividend of $0.275 (U.S.) per share. 
The dividend is payable on March 9, 2007, to shareholders of record on February 
16, 2007. 
    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 16, 2007.  
    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 1, 
2007 (US$1 = 50.93725 pence). Accordingly, the dividend payable in sterling on 
March 9, 2007, will be 14.00774 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, 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 82 ships totaling 147,000 lower berths with 
19 new ships scheduled to enter service between April 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. 
    Additional information can be obtained via Carnival Corporation & plc's 
Web sites at www.carnivalcorp.com and www.carnivalplc.com. 
 
SOURCE  Carnival Corporation & plc 

    CONTACT:  US, Tim Gallagher of Carnival Corporation & plc,  
[phone], Ext. 16000; or UK, Richard Jacques or Sophie Fitton of 
Brunswick Group, [phone]; or Investors, US & UK, Beth Roberts of 
Carnival Corporation & plc, [phone] 
    Web site:  http://www.carnivalcorp.com 
               http://www.carnivalplc.com  
    (CCL CUK)