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Longtime Carnival Corp. & plc Treasurer Zemnick to Retire; Cunard/Seabourn CFO Bernstein Tapped as Successor

MIAMI, Jul 25, 2003 /PRNewswire-FirstCall via COMTEX/ -- Carnival Corporation & plc(NYSE: CCL; LSE)(NYSE: CUK) has announced that Lowell Zemnick will retire fromhis post as treasurer in late August after 24 years of service to the company.

David Bernstein, a 12-year cruise industry veteran who most recentlyserved as chief financial officer of Carnival Corporation & plc's Cunard Lineand Seabourn Cruise Line units, has been named Zemnick's successor.

"All of us here at Carnival Corp. & plc owe Lowell a great debt ofgratitude for his dedication and loyalty over the years. From Carnival'searly years to its IPO in 1987 and the successful completion of the P&OPrincess Cruises transaction earlier this year, Lowell's contributions to ourcompany's success are immeasurable," said Carnival Corp. & plc Chairman andCEO Micky Arison. "At the same time, we feel very fortunate to have someone asqualified as David Bernstein to assume the position of treasurer," he added.

Zemnick, a certified public accountant, joined Carnival in 1979 ascontroller of Carnival Tours, an affiliate of Carnival Cruise Lines, Inc.,which at the time was a privately owned company comprised of three cruiseships. He was named vice president of finance the following year.

Zemnick played a key role in Carnival's initial public offering in 1987,which generated approximately $400 million, providing the initial influx ofcapital that allowed the company to reach its current position of world'slargest cruise operator with 13 global brands operating a total of 70 cruiseships.

Zemnick was subsequently promoted to vice president and treasurer in 1990of the entity that eventually became Carnival Corporation. In this position,he was responsible for financing Carnival's expansion as well as the day-to-day management of the company's cash flow and sizable short-term investmentportfolio.

Bernstein, 45, who served as chief financial officer for Cunard andSeabourn for the past five years, also spent seven years at Royal CaribbeanCruises Ltd. where he held various financial posts, including assistanttreasurer.

Bernstein, a certified public accountant, received his MBA from HarvardBusiness School in 1983.

Carnival Corporation & plc is the largest cruise vacation group in theworld, with a portfolio of 13 cruise brands in North America, Europe andAustralia, comprised of Carnival Cruise Lines, Princess Cruises, HollandAmerica Line, Costa Cruises, P&O Cruises, Cunard Line, Windstar Cruises,Seabourn Cruise Line, Ocean Village, Swan Hellenic, AIDA, A'ROSA, and P&OCruises Australia.

Together, these brands operate 70 ships totaling more than 110,800 lowerberths with 13 new ships scheduled for delivery between now and mid-2006.Carnival Corporation & plc also operates three riverboats on Europe's DanubeRiver and the leading tour companies in Alaska and the Canadian Yukon, HollandAmerica Tours and Princess Tours. Traded on both the New York and London StockExchanges, Carnival Corporation & plc is the only group in the world to beincluded in both the S&P 500 and the FTSE 100 indices.

SOURCE Carnival Corporation & plc

Media, Tim Gallagher, Carnival Corporation & plc, +1-305-599-2600, ext. 16000,
Sophie Fitton, Brunswick Group, in the UK, +44-0-20-7404-5959, for Carnival Corporation & plc;
Investor Relations, Beth Roberts, Carnival Corporation & plc, +1-305-406-4832,
Bronwen Griffiths, in the UK, +44-0-23-8052-5231, for Carnival Corporation & plc

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