Offer Talks Terminated

Carnival and TUI to Withdraw German Anti-Trust Filing for Joint Venture 
 
    MIAMI, Sept. 5 / -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) 
today announced that it has agreed with Germany's TUI AG (DE: TUAG00) to 
withdraw its antitrust filings with the German Federal Cartel Agency, 
Bundeskartellamt, and the Austrian Federal Cartel Agency, 
Bundeswettbewerbsbehorde. Carnival and TUI had agreed to form a joint venture 
to develop a new cruise brand for Germany. 
    Carnival cited an extremely difficult regulatory environment in Germany 
which makes it impossible to close the proposed joint venture this fiscal 
year.  Failure to do so would create adverse tax consequences for the company 
that would impact the economics of the transaction. As a result of the 
regulatory and tax issues Carnival and TUI have agreed not to proceed with the 
proposed joint venture but will continue to explore other opportunities. 
    Carnival will continue to grow its presence in Germany organically through 
new ship construction for its successful AIDA and Costa brands, as well as 
through Cunard Line whose Queen Mary 2 will operate a series of trans-Atlantic 
crossings from Hamburg in 2008. 
    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-                             09/05/2007 
    /CONTACT: Media, US, Tim Gallagher or Jennifer de la Cruz of Carnival 
Corporation & plc, [phone], ext. 16000; UK, Richard Jacques or Sophie 
Brand of Brunswick Group, [phone]; Investor Relations, US or UK, 
Beth Roberts of Carnival Corporation & plc, [phone]/ 
    /Web site: http://www.carnivalcorp.com / 
    (CCL CUK)