Carnival Corporation and plc Declares Dividend

[Jason]

MIAMI, July 21 /PRNewswire-FirstCall/ -- On July 20, 2004, the boards of

directors of Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) approved

a quarterly dividend to holders of Carnival Corporation common stock and

Carnival plc ordinary shares of $0.125 per share. The boards approved a

record date for the quarterly dividend of August 20, 2004 and a payment date

of September 10, 2004.

Holders of Carnival Corporation common stock or Carnival plc ADSs will

receive the dividend payable in U.S. dollars. The dividend for Carnival plc

ordinary shares will be payable in U.S. dollars or sterling. In the absence

of instructions or elections to the contrary, holders of Carnival plc ordinary

shares will automatically receive the dividend in sterling. Dividends payable

in sterling will be converted from U.S. dollars at the exchange rate quoted by

the Bank of England in London at 11 a.m. on September 1, 2004. Holders of

Carnival plc ordinary shares wishing to receive their dividend in U.S. dollars

or participate in the Carnival plc Dividend Reinvestment Plus must elect to do

so by August 20, 2004.

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 77 ships totaling more than 128,000 lower

berths with eight new ships scheduled for delivery between November 2004 and

December 2006. Carnival Corporation & plc also operates the leading tour

companies in Alaska 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 the FTSE 100 indices.

Additional information on Carnival Corporation & plc is available at

http://www.carnivalcorp.com and http://www.carnivalplc.com.