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Carnival Corporation & Plc Announces Carnival Plc Share Sale and Carnival Corporation Stock Repurchase Program

MIAMI, July 2 /PRNewswire-FirstCall/ -- Carnival Corporation & plc(NYSE/LSE: CCL; NYSE: CUK) announces that Carnival Investments Limited, awholly owned subsidiary of Carnival Corporation, intends to sell up to25,000,000 existing Carnival plc ordinary shares that it holds in the UKmarket ("Share Sales"). The ordinary shares will be sold from time to timein the UK in "at the market" transactions at times when the CarnivalCorporation common stock is trading at a discount to Carnival plc shares.Carnival Corporation & plc intend to use the net proceeds of the Carnival plcShare Sales to repurchase Carnival Corporation common stock on at least anequivalent basis in the U.S. market ("Stock Repurchase"), and to use theremaining net proceeds, if any, for general corporate purposes. CarnivalCorporation & plc only intends to trade where it will derive an economicbenefit from the Carnival plc Share Sales and Carnival Corporation StockRepurchase program.

Under the terms of the articles of association of Carnival plc theordinary shares sold by Carnival Investments Limited will, once held outsideof the Carnival Corporation group, become re-enfranchised for voting purposes.

The Carnival plc Share Sales and Carnival Corporation Stock Repurchaseprogram will be run in conjunction with the previously announced Carnival plcShare Repurchase and Carnival Corporation Stock Issuance program. Only one ofthe programs will be operated by Carnival Corporation & plc at any given time.

Carnival plc has filed a registration statement on Form S-3ASR (includinga prospectus) with the U.S. Securities and Exchange Commission (the "SEC") inrelation to the Share Sales program, for U.S. regulatory purposes (File No.333-160411). Interested parties should read the prospectus in thatregistration statement and the other documents that Carnival Corporation & plchave filed with the SEC that are incorporated by reference into the prospectusfor more complete information about Carnival Corporation & plc and thisprogram. These documents are available at no charge by visiting EDGAR on theSEC Web site at www.sec.gov. You may also request a copy of the prospectusfor this offering, and the documents incorporated by reference into theprospectus from Carnival Corporation & plc, without charge, upon written ororal request. Requests for such copies should be directed to the following:

            CARNIVAL CORPORATION and CARNIVAL PLC            c/o CARNIVAL CORPORATION            3655 N.W. 87TH AVENUE            MIAMI, FLORIDA 33178-2428            ATTENTION: COMPANY SECRETARY            TELEPHONE:  (305) 599-2600, EXT.  18018.

This press release shall not constitute an offer to sell or thesolicitation of an offer to buy nor shall there be any sale of thesesecurities in any jurisdiction in which such offer, solicitation or sale wouldbe unlawful prior to registration or qualification under the securities lawsof any such jurisdiction.

Carnival Corporation & plc is the largest cruise vacation group in theworld, with a portfolio of cruise brands in North America, Europe andAustralia, comprised of Carnival Cruise Lines, Holland America Line, PrincessCruises, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line,Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.

Together, these brands operate 92 ships totaling approximately 177,000lower berths with 13 new ships scheduled to be delivered between September2009 and June 2012. Carnival Corporation & plc also operates Holland AmericaTours and Princess Tours, the leading tour companies in Alaska and theCanadian Yukon. Traded on both the New York and London Stock Exchanges,Carnival Corporation & plc is the only group in the world to be included inboth the S&P 500 and the FTSE 100 indices.

Caution Concerning Forward-Looking Statements

This release includes certain forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995. Thesestatements are based on management's current expectations or beliefs, and aresubject to uncertainty and changes in circumstances. Actual results may varymaterially from those expressed or implied by the statements herein due tochanges in economic, business, competitive, technological, strategic and/orregulatory factors, and other factors affecting the operations of CarnivalCorporation & plc. More detailed information about these factors may be foundin filings by Carnival Corporation & plc with the SEC, including their mostrecent joint Annual Report on Form 10-K and joint Quarterly Reports on Form10-Q. Carnival Corporation & plc are under no obligation to, and expresslydisclaim any such obligation to, update or alter their forward-lookingstatements, whether as a result of new information, future events, orotherwise.

SOURCE Carnival Corporation

CONTACT: Media, US, Tim Gallagher, +1-305-599-2600, ext. 16000; orInvestor Relations, US,UK, Beth Roberts, +1-305-406-4832, both of CarnivalCorporation & plc

Web Site: #
(CCL CUK)

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