Dividend Declaration

FOR IMMEDIATE RELEASE

                 CARNIVAL CORPORATION & PLC DECLARES DIVIDEND                  

MIAMI (July 12, 2005) -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK)
today announced that its boards of directors have declared a quarterly dividend
of $0.20 per share. The dividend is payable on September 9, 2005 for
shareholders of record on August 19, 2005.

Holders of Carnival Corporation common stock or 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 September 1, 2005. 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 August 19, 2005.

Carnival Corporation & plc is the largest cruise vacation group in the world,
with a portfolio of 12 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 78 ships totaling more than 134,000 lower berths
with 12 new ships scheduled for delivery between July 2005 and April 2009.
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 can be obtained via Carnival Corporation & plc's Web
sites at www.carnivalcorp.com and www.carnivalplc.com.

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MEDIA CONTACTS                                 INVESTOR RELATIONS CONTACT

US                                             US/UK

Carnival Corporation & plc                     Carnival Corporation & plc

Tim Gallagher                                  Beth Roberts

1 305 599 2600, ext. 16000                     1 305 406 4832


UK

Brunswick

Sophie Fitton/Sarah Tovey

44 (0) 20 7404 5959