NCL has ordered another ship for 2007

Jason · May 4, 2005

NCL Announces Another Newbuild Order

MIAMI--(BUSINESS WIRE)--May 3, 2005--NCL Corporation ("NCL") today announced a further new ship order with Meyer Werft, in Germany, for delivery in October 2007 to its Norwegian Cruise Line brand. The vessel, currently referred to as hull S.670, will have a capacity of 2,384 lower berths and be a sister to Norwegian Jewel, which is scheduled for delivery in August of this year. Total contract price, including Owner's Supply, is EUR 391 million (approximately $510 million at today's exchange rate).

The new order follows an order announced in December last year with the same yard for an identical ship to be delivered in February 2007, and becomes the fifth ship now in the pipeline for introduction to the NCL fleet during the next 28 months. This new order will be the 10th big new ship to join the NLC fleet since the fleet modernization began in late 1999. Once this 10th ship is delivered in 2007, over 75 percent of NCL's inventory of beds will be on ships less than eight years old.

Commenting on the order, Star Cruises chairman Tan Sri K T Lim said: "This order builds upon the tremendous commercial success of our Norwegian Star and Norwegian Dawn, and continues our strong relationship with the Meyer shipyard. Our investment in the NCL fleet modernization is now close to $4 billion since 2000, which demonstrates the commitment and confidence we have in our strategy."

Colin Veitch, NCL's President and CEO, said: "We are as pleased as can be to announce Number 10. The modernization of NCL's fleet has now gained full momentum and we are well on the way to our goal of having the youngest fleet in the industry. Following the disappointing decision recently to terminate discussions on another ship with another yard, we are very pleased now to have secured our desired second ship for 2007."

The ships now on order for delivery by 2007 are as follows:

-- Pride of America June 2005

-- Norwegian Jewel August 2005

-- Pride of Hawaii April 2006

-- S.669 February 2007

-- S.670 October 2007

They will join the five big new ships built since 1999 and already in service:

-- Norwegian Sun

-- Norwegian Star

-- Norwegian Dawn

-- Norwegian Spirit

-- Pride of Aloha

NCL Corporation ("NCL") is an innovative cruise company headquartered in Miami, Florida, with a fleet of 16 ships in service and under construction. The corporation oversees the operations of Norwegian Cruise Line, NCL America, and Orient Lines. On July 4, 2004, NCL made U.S. maritime history when it introduced the reflagged Pride of Aloha, the first modern U.S.-flagged cruise ship in nearly 50 years. The 2,002 passenger ship is 100% U.S.-crewed, and sails year-round in Hawai`i under the NCL America brand alongside Norwegian Wind from sister brand, Norwegian Cruise Line. The company is currently building five ships, including two more for the NCL America brand in Hawai`i - Pride of America (delivery in June 2005) and Pride of Hawai`i (delivery in April 2006). Norwegian Jewel will join the Norwegian Cruise Line fleet in August 2005 and two further Norwegian Jewel class ships, including one that is the subject of this release, are scheduled for delivery in 2007.