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Carnival Corporation & plc Assigns Previously Ordered Vessel to P&O Cruises
New Ship to Enter Service in Spring 2008
MIAMI, Sept. 21, 2005 /PRNewswire-FirstCall/ -- Carnival Corporation & plc(NYSE/LSE: CCL; NYSE: CUK) has assigned the newbuild slot for the previouslyannounced 116,000-ton cruise ship to U.K.-based P&O Cruises. To be built byItalian shipbuilder Fincantieri, the vessel is scheduled to enter service inspring 2008.
The new 3,100-passenger vessel will become the largest cruise shipspecifically built for British cruise service and continues Carnival's ongoingEuropean expansion strategy. An itinerary for this vessel has not beenannounced.
The new P&O Cruises ship was part of a five-ship agreement withFincantieri announced in September 2004 that also included the new 110,000-tonCarnival Freedom for Carnival Cruise Lines, the 116,000-ton Emerald Princessfor Princess Cruises, a 110,000-ton ship that still must be assigned to aparticular Carnival brand, and a significant redesign of Cunard Line'spreviously ordered Queen Victoria.
"The agreement with Fincantieri presented a unique opportunity to contractfor a package of five ships at a very attractive price. At the time we signedthe contract, we had not made a decision as to which brands would bedesignated for two of the ships. Given P&O Cruises' strong performance andthe excellent demand for cruising in the UK market, the decision was made todesignate one of the ships for P&O Cruises," said Micky Arison, CarnivalCorporation & plc's chairman and CEO.
He said that the company will make a decision on which brand will receivethe second vessel by the end of the month.
The new P&O Cruises ship, to be named Ventura, will feature eightrestaurants, five pools and three show lounges, including the largest theateron a British cruise ship. In addition to one of the largest spas afloat, theship will include a "family zone" featuring children's play areas, a "familybistro" and two pools dedicated to families and children. Of the ship's 1,550cabins, nearly 60 percent will offer private balconies.
Commenting on the announcement, David Dingle, managing director of P&OCruises, said, "This new order acknowledges the unprecedented demand for theP&O Cruises brand and its increasingly wide appeal. Over the last 10 years,P&O Cruises uniquely has introduced a progression of new ships purpose-builtfor Britain, which have created record levels of demand. Ventura, through herinnovation, scale and contemporary appeal, marks the next major step forwardfor Britain's leading cruise line, maintaining P&O Cruises' position at theforefront of our industry."
Carnival Corporation & plc is the largest cruise vacation group in theworld, with a portfolio of 12 cruise brands in North America, Europe andAustralia, comprised of Carnival Cruise Lines, Holland America Line, PrincessCruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises,Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O CruisesAustralia.
Together, these brands operate 79 ships totaling more than 137,000 lowerberths with 12 new ships scheduled for delivery between January 2006 and April2009. Carnival Corporation & plc also operates the leading tour companies inAlaska 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 theFTSE 100 indices.
SOURCE Carnival Corporation & plc
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