News Release

Carnival Corp. & plc Included in 'The BusinessWeek 50' Ranking of Top-performing Companies

World's Largest Cruise Operator Only Leisure Company Included in Annual List

MIAMI, March 29, 2004 /PRNewswire-FirstCall/ -- Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK), the world's largest cruise operator, has been included in the "The BusinessWeek 50," a ranking of the top-performing companies of the S&P 500.

Carnival is the only leisure company included in the annual list, which is featured in the April 5, 2004, issue of the publication.

Unlike other lists, which simply rank companies based on size or stock performance, according to the magazine, "The BusinessWeek 50" recognizes "companies that symbolize the best in Corporate America, both in operational performance and in their ability to convert that success into lucrative gains for shareholders."

Rankings are based on a wide range of factors, including revenue growth, profits, net margins, debt levels, sales volume, and shareholder returns over both one- and three-year periods.

Commented Carnival Corporation & plc Chairman and CEO Micky Arison, "We are very pleased to be included in 'The BusinessWeek 50,' and this recognition speaks volumes about the exceptional performance of our company over the past three years. We're coming off one of the most difficult periods in the history of travel. Yet, despite these challenges, we continually outperformed all other companies in the leisure travel sector, maintaining a constant focus on providing quality vacations at tremendous value, while keeping an eye on the bottom line and earning returns for our shareholders."

Carnival Corporation & plc is the only company in the world to be included in both the S&P 500 and the FTSE 100 indices and most recently was added to the NYSE U.S. 100 Index.

Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of 12 cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia.

Together, these brands operate 75 ships totaling more than 123,000 lower berths with nine new ships scheduled for delivery between April 2004 and mid- 2006. Carnival Corporation & plc also operates the leading tour companies in Alaska and the Canadian Yukon, Holland America Tours and Princess Tours.

A complete listing of "The BusinessWeek 50" is available in the April 5 issue or on-line at

Additional information on Carnival Corporation & plc is available at and

SOURCE Carnival Corporation

Media, U.S., Tim Gallagher of Carnival Corporation & plc
+1-305-599-2600, ext. 16000
UK, Sophie Fitton
Sarah Tovey, both of Brunswick Group
for Carnival Corp.
or Investor Relations, U.S. and UK
Beth Roberts of Carnival Corporation & plc
Bronwen Griffiths
for Carnival Corp.
Web site:

CO: Carnival Corporation; BusinessWeek ST: Florida IN: LEI TRA MAG PUB SU: CH-KW -- FLM014 -- 1887 03/29/2004 11:09 EST