Potential Impact of Alaska Cruise Tax Initiative

Carnival Corporation & plc Comments on Potential Impact of Recently Passed 
                          Alaska Cruise Tax Initiative

MIAMI, Aug. 24 /PRNewswire-FirstCall/ -- Carnival Corporation & plc 
(NYSE/LSE: CCL) (NYSE: CUK) today commented on the potential impact of 
Alaska's Ballot Initiative 2 which has been approved by the state's voters and 
is expected to be implemented in 2007.

Although still subject to final certification by the state, the new taxes 
include a $50 per passenger head tax which will increase the government taxes 
and fees paid by passengers embarking on Alaskan cruises.  At this time, the 
company cannot estimate the impact these additional passenger taxes may have 
on its Alaskan cruise business. 

In addition to the head tax, the initiative includes a gaming tax on any 
gambling conducted within state waters as well as a state corporate income tax 
for cruise lines operating ships in Alaska.  Carnival estimates that the 
gaming and income taxes may reduce 2007 earnings per share by approximately 
$0.03.

The initiative also calls for cruise lines to reveal profits on shore 
excursions and any advertising revenues earned from shoreside businesses.

Carnival Corporation & plc brands currently carry approximately 560,000 
passengers annually in Alaska aboard 16 cruise ships - eight from Holland 
America Line, seven from Princess Cruises and one from Carnival Cruise Lines.

"We are disappointed that the Ballot Initiative 2 has passed as we believe 
this will inhibit the future growth and expansion of Alaska's tourism 
business," said Micky Arison, Carnival Corporation & plc chairman and CEO.  
"The estimates of the impact of these taxes are being made prior to our 
finalizing deployment, legal and other business decisions that will need to be 
considered as a result of this initiative," he added. 

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 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 via carnivalcorp.com and 
carnivalplc.com.

MEDIA CONTACTS              

US                      
Carnival Corporation & plc          
Tim Gallagher                   
1 305 599 2600, ext. 16000              
                        
UK                      
Brunswick Group             
Ruban Yogarajah 
44 (0) 20 7404 5959 


INVESTOR RELATIONS CONTACT

US/UK
Carnival Corporation & plc
Beth Roberts
1 305 406 4832