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Carnival Corporation & plc Declares Dividend

                   Dividend Amount Increased by 19 Percent

MIAMI, Oct. 29 /PRNewswire-FirstCall/ -- Carnival Corporation & plc(NYSE: CCL; LSE) (NYSE: CUK) announced today that its Boards of Directorsdeclared a quarterly cash dividend of 12.5 U.S. cents per share, whichreflects a two U.S. cents per share increase over the previous quarterlydividend amount of 10.5 U.S. cents per share. The dividend is payable onDecember 12, 2003, to shareholders of record on November 21, 2003.

Commented Micky Arison, chairman and CEO of Carnival Corporation & plc,"We are pleased to be providing our shareholders with a 19 percent increase inthe quarterly dividend which reflects our continued confidence in the futuregrowth of our cruise business."

Holders of Carnival Corporation common stock or Carnival plc ADSs willreceive the dividend payable in U.S. dollars. The dividend for Carnival plcordinary shares will be payable in U.S. dollars or sterling. In the absence ofinstructions or elections to the contrary, holders of Carnival plc ordinaryshares will automatically receive the dividend in sterling. Dividends payablein sterling will be converted from U.S. dollars at the exchange rate quoted bythe Bank of England in London at 11 a.m. on December 1, 2003. Holders ofCarnival plc ordinary shares wishing to receive their dividend in U.S. dollarsmust elect to do so by November 27, 2003.

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.

Additional information can be obtained via Carnival Corporation & plc'sWeb sites at www.carnivalcorp.com and www.carnivalplc.com.

SOURCE Carnival Corporation & plc

CONTACT:
Media, in the US,
Tim Gallagher
Carnival Corporation & plc
+1-305-599 2600, ext. 16000
or
in the UK
Sophie Fitton of Brunswick Group
+011-44-20-7404-5959
for Carnival Corporation & plc
or Investors,for the USand UK
Beth Roberts of Carnival Corporation & plc
+1-305-406-4832
or
in theUK
Bronwen Griffiths
+011-44-23-8052-5231
for Carnival Corporation & plc
Web site: # #
(CCL CUK)

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