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Marine Log

Genesis

April 2, 2007

RCCL orders second Genesis ship

Royal Caribbean Cruises Ltd. (NYSE: RCL) has exercised its option to build a second ship in its "Genesis Project" today.

Destined to become the 24th ship in the Royal Caribbean International fleet, the 5,400-guest, 220,000-gross-registered-ton ship is on order at Aker Yards in Finland, with delivery projected for August, 2010.

Royal Caribbean estimates the all-in cost of the ship will be approximately $260,000 per berth. Aker Yards says the contract price is approximately EUR 900 million (about $1.2 billion). The contract is subject to final confirmation of buyers financing.

"Genesis is a big challenge for us, when it comes to size and complexity in the numerous technical innovations. But we are well prepared and enthusiastic when taking on this challenge", says Yrjo Julin, President of Aker Yards, Cruise & Ferries.

Royal Caribbean's "Liberty of the Seas" is scheduled to leave Aker Yards in a few weeks. It is the second in the series of the world's (for the time being) largest Freedom-class cruise vessels. Genesis will be 43 per cent larger, with a length of 360 m width of 47 m and accommodating 8,400 passengers and crew.

Aker Yards' business area Cruise & Ferries now has in the orderbook 22 vessels, 11 of which are cruise vessels.

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