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Carnival Corporation & PLC Expects Financial Impact From Cancellation of P&O Cruises' Aurora 2005 World Cruise

MIAMI, Jan 20, 2005 /PRNewswire-FirstCall via COMTEX/ -- The 1,870-passenger cruise shipAurora, operated by P&O Cruises, a unit of Carnival Corporation & plc(NYSE/LSE: CCL; NYSE: CUK), is experiencing a technical problem with itspropulsion system that has forced the cancellation of its 103-day, 2005 worldcruise. Passengers on the affected voyage are being provided refunds andfuture cruise discounts. The company expects the vessel will return toservice prior to the date it was to end its world cruise and anticipatesscheduling revised shorter replacement cruises.

Carnival Corporation & plc estimates that the cancellation of the Aurora'sworld cruise, net of estimated earnings from anticipated replacement cruises,is expected to impact 2005 full year earnings by approximately $0.05 pershare, of which approximately $0.03 per share is expected to be incurred inthe first quarter and the remainder in the second quarter.

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 Cruises, Costa Cruises,Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O CruisesAustralia.

Together, these brands operate 77 ships totaling more than 132,000 lowerberths with 13 new ships scheduled for delivery between April 2005 and April2009. Carnival Corporation & plc also operates the leading tour companies inAlaska and the Canadian Yukon, Holland America Tours and Princess Tours.Traded on both the New York and London Stock Exchanges, Carnival Corporation &plc is the only group in the world to be included in both the S&P 500 and theFTSE 100 indices.

SOURCE: Carnival Corporation

Investor Relations: Beth Roberts of US

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