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Carnival Corporation & Plc Announces 27 Percent Increase in Quarterly Dividend at its Annual Shareholders Meeting

Expresses Confidence In The Business And Outlines Growth Plans For Investors

MIAMI, April 16 /PRNewswire-FirstCall/ -- During the Carnival Corporation& plc (NYSE/LSE: CCL; NYSE: CUK) annual general meeting of shareholders, heldtoday in Southampton, UK, the company announced an increase in its regularquarterly dividend of 27 percent to $0.35 per share from $0.275 per share.

The announcement was made by Carnival's Vice Chairman and Chief OperatingOfficer Howard Frank who noted that since the company's merger with P&OPrincess Cruises in April 2003, the company has more than tripled its dividendto shareholders with the latest increase.

"This dividend increase reflects our management's confidence in the futureof our business. Carnival Corporation & plc is in the uniquely enviableposition of being able to aggressively pursue our growth strategies - boththrough our $11 billion newbuilding program and developing new markets inEurope and Asia - while still generating the cash flow to return more addedvalue to our shareholders in the form of increased quarterly dividends and ourshare buy-back program," Frank said. Since 2005, Carnival has repurchased$1.2 billion of its shares.

"Carnival remains committed to its previously stated policy of returningexcess cash to shareholders by increasing dividends as our earnings grow, aswell as continuing our stock repurchase program opportunistically. We haveapproximately $770 million remaining under our previously authorized stockrepurchase program," he added.

Frank also discussed the company's growth plans which are focused on itsnewbuilding program but also include a number of initiatives aimed at growingexisting markets and expanding internationally.

Carnival's five core business regions - U.S., UK, Germany, Italy and Spain- "all offer tremendous growth potential because of their favorabledemographics and low penetration levels," noted Frank.

In 2006, North America accounted for 70 percent of Carnival Corporation &plc's passenger base with Europeans and the rest of the world accounting forthe remaining 30 percent. Frank said that by 2010, this ratio is expected toshift to 60 percent North Americans and 40 percent Europeans and the rest ofthe world as the company continues to expand operations beyond North America.

"In North America we plan to add eight ships from 2007 through 2010. WhileNorth America remains our largest market, we have intensified our efforts atgrowing our European business, both through strategic alliances with existingtravel companies in the region, as well as an aggressive newbuilding programthat will introduce 12 new ships for our European brands through 2010," hesaid.

Other growth initiatives include a planned new cruise joint venture inGermany with TUI AG, the world's largest tour company, to develop, market andoperate two cruise brands - Carnival's existing AIDA Cruises and a new TUICruises brand - both designed for the German-speaking holiday market.Carnival also has a planned joint venture in Spain with Orizonia Corporacion,Spain's largest travel company which operates its own cruise fleet under itsIberojet division, to operate and expand the existing Iberojet Cruceros brandin Spain. The joint venture will grow that fleet over the next several yearsthrough the acquisition of existing tonnage from Carnival Corporation & plc'scurrent fleet.

Since the company's merger with P&O Princess Cruises in 2003, annual cashflow from operations has nearly doubled from $1.9 billion to $3.6 billion.Over the past four years, the company has funded $9 billion in new shipconstruction all through its own cash flow, according to Frank.

Frank also recapped the line's 2006 performance during which CarnivalCorporation & plc achieved record earnings of $2.3 billion on record revenuesof $11.8 billion.

Carnival Corporation & plc boards of directors approved a record date forthe dividend of May 18, 2007, and a payment date of June 8, 2007.

Holders of Carnival Corporation common stock and 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 absenceof instructions or elections to the contrary, holders of Carnival plc ordinaryshares will automatically receive the dividend in sterling.

Dividends payable in sterling will be converted from U.S. dollars at theexchange rate quoted by the Bank of England in London at 12 noon on June 1,2007. Holders of Carnival plc ordinary shares wishing to receive theirdividend in U.S. dollars or participate in the Carnival plc DividendReinvestment Plan must elect to do so by May 18, 2007.

As a dual-listed company, traded on both the New York and London stockexchanges, Carnival alternates the site of its annual shareholder meeting eachyear between venues in the U.S. and UK.

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, Seabourn Cruise Line, AIDA Cruises, Costa Cruises, Cunard Line, OceanVillage, P&O Cruises, and P&O Cruises Australia.

These brands operate 80 ships totaling 149,000 lower berths. CarnivalCorporation & plc also operates the leading tour companies in Alaska and theCanadian Yukon, Holland America Tours and Princess Tours. Traded on both theNew York and London Stock Exchanges, Carnival Corporation & plc is the onlygroup in the world to be included in both the S&P 500 and the FTSE 100indices.

Additional information is available online at carnivalcorp.com andcarnivalplc.com.

SOURCE Carnival Corporation & plc

CONTACT: MEDIA, U.S., Tim Gallagher, Carnival Corporation & plc,
+1-305-599-2600, ext. 16000; or UK, Richard Jacques or Sophie Brand, Brunswick
Group, 44 (0) 20 7404 5959; or INVESTOR RELATIONS, U.S., UK, Beth Roberts,
Carnival Corporation & plc, +1-305-406-4832

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