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Carnival Corporation & Plc and Orizonia Finalize Agreement for New Spanish Cruise Operation

New Iberocruceros Cruise Brand to Launch with Three-Ship Fleet

MIAMI, Sept. 5, 2007 /PRNewswire-FirstCall/ -- Carnival Corporation & plc(NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise vacation company, andOrizonia Corporacion, Spain's largest travel company, today announced thatthey have finalized the agreements for a previously announced multi-shipcruise brand serving the Spanish market.

The transaction is expected to close on September 14, 2007, with Carnivalowning 75 percent of the joint venture and Orizonia owning 25 percent. Thenew joint venture company will be consolidated into Carnival Corporation &plc's financial results starting in the fourth quarter 2007 and is expected tobe accretive to results in 2008.

To be called Iberocruceros, the new joint venture combines the two vesselsof Orizonia's existing cruise operations with a ship from the Carnival group.

In addition to Orizonia's 1,244-passenger Grand Mistral and 834-passengerGrand Voyager, the 1,486-passenger Celebration from Carnival Cruise Lines'fleet, will be transferred to the new Iberocruceros company. After anextensive renovation, the Celebration is scheduled to enter service in latespring 2008.

Alfredo Serrano, currently general manager of the Iberojet fleet, has beenappointed general manager of Iberocruceros, which will be headquartered inMadrid. Serrano will report to the newly formed Iberocruceros board whosechairman will be Pier Luigi Foschi, chairman and CEO of Carnival Corporation &plc's Costa Cruises unit. The board will also include Orizonia CEO GabrielSubias.

"The new Iberocruceros joint venture will build upon the tremendous brandawareness of Orizonia's Iberojet operations - one of Spain's leading vacationcompanies - while providing a solid platform for expanding in the fast-growing European marketplace," said Micky Arison, Carnival Corporation & plc'schairman and CEO.

The three Iberocruceros ships will fly the Italian flag. Itineraries forthese vessels will be announced shortly.

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.

Together, these brands operate 82 ships totaling 154,000 lower berths with17 new ships scheduled to enter service between December 2007 and June 2011.Carnival Corporation & plc also operates Holland America Tours and PrincessTours, the leading tour companies in Alaska and the Canadian Yukon. Traded onboth the New York and London Stock Exchanges, Carnival Corporation & plc isthe only group in the world to be included in both the S&P 500 and the FTSE100 indices.

SOURCE Carnival Corporation & plc

CONTACT: Media, US, Tim Gallagher or Jennifer de la Cruz of CarnivalCorporation & plc, +1-305-599-2600, ext. 16000; UK, Richard Jacques or SophieBrand of Brunswick Group, 44 (0) 20 7404 5959; Investor Relations, US or UK,Beth Roberts of Carnival Corporation & plc, +1-305-406-4832

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