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Carnival Corporation & plc Announces Exchange Rate for Quarterly Dividend

MIAMI, June 2, 2004 /PRNewswire-FirstCall/ -- On April 27, 2004, CarnivalCorporation & plc (NYSE: CCL; LSE) (NYSE: CUK) announced a quarterly cashdividend of 12.5 (U.S.) cents per share. The dividend is payable on June 11,2004 to shareholders of record on May 21, 2004.

Holders of Carnival Corporation common stock or Carnival plc ADSs willreceive a dividend payable in U.S. dollars. The dividend for Carnival plcordinary shares will be payable in sterling unless shareholders elected toreceive the dividend in U.S. dollars by May 21, 2004.

Dividends payable in sterling will be converted from U.S. dollars at theexchange rate quoted by the Bank of England in London at 11 a.m. on June 1,2004 (US$1 = 54.32421 pence). Accordingly, the dividend payable in sterling onJune 11, 2004, will be approximately 6.79053 pence per share.

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, Costa Cruises, CunardLine, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia.

Together, these brands operate 77 ships totaling more than 128,000 lowerberths with eight new ships scheduled for delivery between November 2004 andDecember 2006. Carnival Corporation & plc also operates the leading tourcompanies in Alaska and the Canadian Yukon, Holland America Tours and PrincessTours. Traded on both the New York and London Stock Exchanges, CarnivalCorporation & plc is the only group in the world to be included in both theS&P 500 and the FTSE 100 indices.

Additional information can be obtained via Carnival Corporation & plc'sWeb sites at # and #

SOURCE Carnival Corporation & plc

CONTACT:
Media, in the U.S.
Tim Gallagher, Carnival Corporation & plc
+1-305-599-2600, ext. 16000
or
in the U.K.
Sarah Tovey
or
Mark Antelme
both of Brunswick Group
+011-44-20-7404-5959
for Carnival Corporation & plc
or
Investors
in the U.S.
or
U.K.
Beth Roberts
Carnival Corporation & plc
+1-305-406-4832
or in the U.K.
Bronwen Griffiths
+011-44-23-8052-5231
forCarnival Corporation & plc
Web site: # #
(CCL CUK)

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