Marine Log

March 28, 2006

Loyd Werft to repair Star Princess

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced today that in order to make permanent repairs to the cabins affected by last week's fire on the Star Princess, the ship will be taken out of service until May 15 when it will begin its European season.

In addition to the already cancelled Caribbean departures of March 26 and April 2, cruises scheduled for April 9, 16, 23 and the April 30 transatlantic cruise are being cancelled. Passengers booked on these cruises will receive a full refund of their cruise and non-refundable air charges and a future cruise credit equal to 25 percent of the cruise fare paid on these sailings.

Star Princess will sail this week from the Grand Bahama Shipyard in Freeport, where she currently is located, to the Lloyd Werft shipyard in Bremerhaven, Germany. The ship will be back in service for its first European cruise, which will depart from Copenhagen on May 15.

The company estimates that the cancelled cruises and repairs to the vessel will result in approximately a $0.04 to $0.05 reduction to the company's second quarter and 2006 full year diluted earnings per share.